When could be best time to buy a house this year? And what type of mortgage should people go for?

The best time to buy is, now. Let’s face it, our Government are filling no one with confidence and Trump could spit his dummy out the pram at any given moment. So whilst things are looking good and the rates are trickling downward now, who knows how long it will last. If you’re playing the waiting game and holding out for the best rates, you could miss out. Best thing you can do is get started and use a good broker that will monitor rate movements for you. If, during your purchase, better rates become available most lenders will let you swap to them prior to completion. It’s a trade off, as rates improve this year it is likely that house prices will too. This spring is as good a time as any to buy, seek advice and get house hunting.

The only right time for buying a property is when it is right for you. That said there are 3 times per year when vendors are focused more. The first is just after Christmas- New Year New Start kind of ethos. The second is around Easter time so the move is timed likely through the school holidays and the last in September again, when the schools are back and people want to be 'in before Christmas'. The sale stock determines the buyer essentially. Interest rates are coming down at last and, with the Bank Base Rate being reduced to a 3yr low yesterday, this should give some incentive for people to start thinking about their options. As the process takes longer nowadays, the engagement with a good mortgage broker is paramount as they will ensure that borrowers don;t just get the best mortgage product for their needs today but will also usually monitor the situation and change you to a better product if one becomes available between application and completion and where time permits.

Right now is a great time to buy, it’s certainly a buyers market. Stock has been gradually rebuilding following the surge in activity brought on by the SDLT increase in March. Mortgage rates are reducing helping consumers to borrow more or make their dream home more affordable and house prices are still set to rise over the longer term.

Trying to time the market is risky business. Rates move fast, and the economy is still unpredictable. The best time to buy your first home isn’t when rates are at their lowest—it’s when you’re ready. That means having your deposit saved, your finances in order, and being prepared for the realities of homeownership.

Yes, house prices and interest rates will rise and fall—but historically, getting on the ladder sooner tends to pay off.

For most first-time buyers, a 5-year fixed rate is a solid choice. It gives you peace of mind, stable payments, and breathing space to deal with the unexpected costs that come with owning a home.

Focus on preparation, not prediction. That’s the smart move.

It is a good time to get a mortgage especially if you are a first-time buyer, because rates are well-priced and mortgage acceptance criteria has eased. The lenders are offering more generous loan sizes and slightly more lenient acceptance criteria. It is really hard to second guess the mortgage and property markets, so if you find a nice property and an affordable mortgage then it is probably a good time to act and get on the housing ladder. Mortgage rates are set to get cheaper but there are no guarantees. If you can get a rate close to or below 4% then you are doing pretty well.
First-time buyers often take a two-year fixed if they are buying a property with a 5% or 10% deposit. The hope is they can swap to a better deal when they have more equity and it's time to remortgage so they can qualify for better rates. Borrowers buying for the first time with larger deposits often take five-year fixes for the payment security. Rate choice really comes down to the borrower's atti to risk.