So, here’s our honest breakdown
Yes, rates are falling.
Rates have already dropped to around 3.5%, the lowest levels since 2022, and lenders are trimming further as competition intensifies. Experts expect more reductions - but small, steady ones driven by market competition rather than big base‑rate cuts.
But here’s the part most buyers overlook -
But, property prices aren’t falling.
In fact, they’re edging upward - slowly but surely. Forecasts for 2026 show UK house prices rising by 1-3% nationally, with some regions (Bristol typically increases above national trend) pushing higher.
Major forecasters like Zoopla, Rightmove, Savills and Nationwide all predict further 1.5%-4% price growth this year.
And what happens every spring? The market wakes up. Buyer demand rises. Competition increases. Prices firm up.
So while you’re waiting for a mortgage rate to drop by, say, another 0.1-0.2%, the property you want might become 2-4% more expensive by summer, easily wiping out any savings you hoped to make on the rate.
In other words…
Holding out for a slightly cheaper mortgage may cost you far more in rising property prices.
Our advice (with this bigger picture in mind):
- If your deal ends within 6 months - Secure something now.
You’re protected if rates rise, and you can always switch if they fall before completion.
- If the right property comes up? - Go for it.
With stable-to-rising prices, delaying could mean paying thousands more.
- If you’re not actively buying yet - Keep an eye on the market, lender competition isn’t going anywhere - but don’t “wait for the perfect rate.”
That perfect rate might save you £15 a month, but missing the right property could cost you £15,000.
Why the urgency? Because the numbers don’t lie.
Rates: falling gradually, not dramatically.
Product choice: at a 18‑year high, great for securing a tailored deal today.
House prices: expected to rise modestly but consistently through 2026.
When you put all three together, the smart move becomes obvious - If the right home appears, lock in the deal and move.
The market is finally in your favour… just not for long.
