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It’s a tricky one, isn’t. However, as we’ve said previously, timing the markets – whether that’s the mortgage market or the money market – is very hard to do.

Our team of Guildford mortgage advisers all agree on one thing, though, and that’s that mortgage rates will not fall to the low levels that we all grew used to following the crash of 2008. The days of 1% – 2% mortgages are long gone, and unlikely to return in the foreseeable future.

But let’s focus on the good. Mortgage rates have gone down a bit recently. And, as it stands, some fixed rate mortgages are now in mid-4% territory.

This doesn’t answer the question around whether or not you should wait, though. However, the real answer depends upon you and your personal circumstances.

Everyone’s different

As a Guildford mortgage broker, we meet with a wide spectrum of clients – most of whose requirements differ to some degree.

For example, we might have clients coming to the end of their fixed rate mortgage deal and are about to fall onto their standard variable rate (SVR) – something that nobody needs to do. In this case, a client has to get a new mortgage deal in order to avoid higher monthly payments associated with the SVR rate.

Or we might see someone who’s been on a competitive tracker mortgage deal, which, over the last year as interest rates have gone up to combat inflation, is no longer that competitive.

Equally, if you’ve just found your dream home and need to get a mortgage before you miss the opportunity, then there’s probably little time to wait.

Making the right decision

There’s still a degree of uncertainty surrounding the mortgage market (and the UK economy as a whole). And the reality is that nobody knows what’s ahead.

Mortgage rates may continue to fall a little more but the cost of property may increase. So, in theory, getting a cheaper mortgage deal by waiting could cost you more in the long run.

All you can do is make the right decision based on the here and now. And, as a Guildford mortgage broker, we’re trained to help you do just that.

So, if you want the best mortgage deal in the UK but are unsure whether or not to wait, our advice is to get in touch.

Whether you’re looking for a first-time buyer mortgage or want to discuss adverse credit mortgages, our team of Surrey mortgage advisers can help. Contact us on 01483 238280 or by e-mailing info@complete-mortgages.co.uk to find out how.