As summer heats up, so does the debate that’s got UK homeowners scratching their heads: should you lock into a fixed-term deal or brave the wild ride of your lender’s Standard Variable Rate (SVR)? With mortgage applications absolutely surging right now, it’s the question on everyone’s lips – and honestly, the answer from experts couldn’t be clearer: it’s time to fix.
The Numbers Don’t Lie
Here’s what’s got everyone talking: we’ve seen a whopping 42% increase in mortgage applications recently. That’s not just a blip on the radar – it’s thousands of savvy homeowners collectively saying “we need to sort this out before things get messy.”
Sam Fox, one of the UK’s leading mortgage voices, recently laid it out straight on GB News: “Since the spring, that question has come up a lot. And when you look at the current deals on the market, my advice has generally been consistent: opt for a fixed deal. As we move through the summer, that advice hasn’t changed.”
And you know what? We couldn’t agree more.
Why Fixed Makes Perfect Sense Right Now
The UK fixed-rate mortgage market is having a proper moment. We’re seeing fierce competition amongst lenders (which is brilliant news for you), and rates are genuinely falling. Many lenders are now offering cracking deals on two- and five-year fixed terms – some even dipping below that magical 4% mark.
If you’re currently sitting on an SVR, the benefits of switching are pretty undeniable. Sure, SVRs might feel flexible, but they’re basically leaving you at the mercy of interest rate roulette. In today’s economic climate, where stability feels like gold dust, a fixed rate gives you something priceless: certainty.
Think about it – no more lying awake wondering what your mortgage payment will be next month. No more calculator sessions every time the Bank of England makes an announcement. Just predictable, budgetable payments that let you get on with actually living your life.
Your Options Are Better Than You Think
Whether you’re thinking about sticking with your current lender or fancying a change of scenery, there’s a strong chance you’ll find a deal that not only offers rock-solid stability but could save you serious money over the long haul.
Here’s a little insider knowledge: many existing lenders are absolutely desperate to keep their customers happy. They’ll often roll out preferential rates to encourage you to remortgage within their portfolio. But – and this is important – always shop around. The cheapest alternative lender might just blow your current provider out of the water with an even better rate.
Don’t Join the “Mortgage Mistake” Club
As we roll through these summer months, the message for mortgage holders is crystal clear: the time to secure that fixed-term deal is right now. We’ve got increased competition working in your favour, rates that are actually falling, and the peace of mind that comes with fixed products.
Don’t be one of those thousands trying to avoid what we’re calling the “mortgage mistake” – instead, take control and give your finances the protection they deserve.
Ready to Unlock Your Fixed-Rate Future?
At dwello, we’re here to guide you through every step of this process. Whether you’re a first-time fixer or a seasoned remortgage pro, our team can help you navigate the current market and find the deal that works perfectly for your situation.
Remember, in a world full of financial uncertainty, your mortgage doesn’t have to be one more thing keeping you up at night. Let’s capitalise on these market conditions together and secure that stability you deserve.
Ready to explore your fixed-rate options? Get in touch with dwello today and let’s unlock your Yes! moment.
The information contained in this article does not constitute financial or mortgage advice from Dwello Mortgages. It is provided for general informational and educational purposes only. No information contained constitutes a solicitation, recommendation, endorsement or offer by Dwello.
Dwello is not making any representations or warranties, and assumes no liability, for the content provided in this article, including any third party information. Consumers should always consult their own financial advisors before making any mortgage or remortgage decisions based on this type of general market commentary and analysis.
All mortgage pricing, rate scenarios and cost comparisons used are hypothetical examples. Actual rates, fees and mortgage costs may vary based on the specific lender and the individual borrower’s personal financial circumstances.
Dwello Mortgages, a trading style of Dwello Mortgages Limited is an appointed representative of HL Partnership Limited which is authorised and regulated by the Financial Conduct Authority. Dwello Mortgages Limited is registered in England and Wales with company number 14432864. Registered Office: St James House, Hollinswood Road, Telford TF2 9TW
