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What's your advice to borrowers right now?

ended 28. February 2025

It's been a funny old end to the month on the mortgage front. After inflation rose last week, sending swaps up, this week they've come back down again and rates have followed, most recently with the Nationwide going sub-4% tomorrow. What's your advice to borrowers in the current volatile climate? Is it premature to talk of a rate war given that inflation is expected to rise further? Aren't more cuts needed at higher LTVs to really stimulate the market? Video responses only please. We'll be pinging them to national media tomorrow AM. You can record them straight from your iPhone or upload an edited video via the web app if you're on Android. Clips need to be 30 seconds or less. Tip: mics help massively with sound quality.

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Steve Humphrey
Adviser & Founder at The Mortgage Pod
Our 5 top tips for mortgage borrowers right now:

1. Don’t make your decision to buy a property based solely on what mortgage interest rates “might do.” If you want or need to buy a house or move, then as long as it’s affordable and comfortable for you to do so,
then don’t overthink the market; it’s outside of your control.

2. Never skip the “preparation” phase of home buying. Find a mortgage broker that you’re comfortable with early on. The earlier you choose, the more value you’ll get from the relationship.

3. Understand that if rates do change, so can yours. A mortgage offer doesn’t lock you in; only the exchange of contracts does.

4. Seek professional advice. Dave the builder in the pub may have very different circumstances to you, so take his mortgage advice with a pinch of salt. Trust the experts!

5. Don’t delay securing a mortgage offer. Rates can increase at any time, and this can cost you. Get your mortgage application submitted as soon as possible!