“As we move into spring, there are some encouraging signs in the UK mortgage market. After a period of higher interest rates and uncertainty, stability is gradually returning. In recent weeks, some lenders have even launched mortgage deals with rates below 4%—a positive sign that competition between lenders is picking up and providing more choice for buyers.

While borrowing costs remain higher than we’ve been used to in recent years, there’s a growing sense that rates have now peaked, and we’re starting to see cautious optimism among both buyers and sellers. Many buyers who had been sitting on the side lines are now re-entering the market, reassured by more predictable mortgage options and a wider range of products.

Locally, we’re seeing steady activity levels and a good number of motivated buyers, which makes this a promising time for anyone considering a move.

From a mortgage advice perspective there is a range of options to consider from short term fixed rates, to slightly more keenly priced five year fixed offerings and perhaps more than in recent times, some interesting options in the bank base rate tracker market which could allow borrowers to track the base rate and fix in at a later date.

Advice and understanding the options has never been more important and we are always happy to have an open chat with no obligation.”

Duncan Hodgson, Purely Financial