Do THIS one thing now

Right now, the one thing I’m telling people to do is get hold of their credit report and sort it out. We still see too many borrowers caught out by missed details, high card balances, or heavy use of buy-now, pay-later credit. Even if payments are up to date, mortgage lenders look at the overall picture. If your credit cards are heavily used, or you rely on things like Klarna too often, it can affect how much you can borrow and what deals you can get. Keeping card balances to a sensible level, often around 25% of the limit or less, can make a real difference to would-be borrowers.

Do everything you can to complete on your home purchase as soon as possible in case your mortgage offer expires. Due to the war in the Middle East, lenders are putting mortgage rates up, in some cases by up to 0.5% higher. If people are currently mid-transaction, they have to perform quickly otherwise it could have a large impact on monthly payments and interest payments if the existing mortgage offer ends and a new, higher rate is the outcome. Also, to anyone considering selling, I would advise them to sell now and quickly and not leaving it too late otherwise it will affect the amount they may get if house prices come under pressure.

Be on the front foot with your mortgage rate. That means getting ready up to six months before the end of your current deal. You could potentially lock in a deal before your existing rate has ends. Don't wait until the existing deal is about to end as currently rates are increasing rapidly and you want to secure a new rate ASAP. You could look to stay with your existing lender and complete what's known as a product transfer, this is by far the quickest option and is most often used if you are not looking to change the loan size or term. Remortgaging to a new lender is often used if you want to change the loan size or term. If you are changing lender you will need to gather your most recent payslips, or tax calculations if self-employed, plus your latest bank statements. If debt consolidating you will want the latest statement for all debts being paid off with the new mortgage.

If you are self-employed, get your tax affairs, books, accounts, paperwork up together ready for your accountant or to submit your tax return in April. Don’t pile on the pressure when you need a mortgage and you aren’t organised to take a rate in the current economic climate. The early bird catches the worm.

Make sure you don't hold too much cash. Yes, there is such a thing as too much cash. Working out how much cash is the right amount to hold is specific to every individual and their own circumstances. Cash over the longer term will not outpace inflation. For anything that isn't held as cash, look at investments to give yourself a fighting chance of beating inflation.

The one thing I am commonly telling clients to do right now is this: do not rush. The most expensive mistakes in personal finance are usually the rushed ones. Whether someone is looking at their mortgage, pension, savings, investments or tax position, panic rarely produces a good outcome. This is the moment to slow down, understand what you actually hold, how the moving parts connect, and what decision genuinely fits your life rather than the headlines. I always believe in finance that fits you, not fitting you into finance, and that means taking a joined-up view instead of reacting to one product in isolation. For me, education comes before advice, because when people fully understand their position, they make better decisions and far fewer costly ones. In a noisy market, clarity is valuable, but calm informed action is even more valuable. If I am telling people to do one thing now, it is to stop following noise and start taking a joined-up approach built on informed decisions.

The Pound is currently punching well above its weight, trading nearly 4% above its five-year average against the US Dollar. At a current rate of $1.334, compared to the long-term average of $1.285, the math is simple for anyone heading across the Atlantic: Brits planning a trip to Florida, or businesses importing from the US and China, are getting nearly 4% more for their money than has been possible for much of the last half-decade. This "window of opportunity" may be closing as geopolitical tensions create a potential cliff-edge for Sterling. It is a long way down to the five-year low of $1.08 seen in the aftermath of the Truss 2022 "mini-budget" crash, and today’s rate is much closer to the extreme high of $1.41 hit back in May 2021 than it is to that record low. With the market sitting in this solid, respectable sweet spot, the advice for Dollar buyers is to act now before volatility pushes the rate back toward the average.