Editor’s Note ✍️
Right, grab a cuppa and pull up a chair. ☕ Welcome to another week in the UK property market! If you’re tired of the financial waffle and just want to know what’s actually happening with your mortgage, you’re in the right place. 🏠
It’s been a week of holding patterns and "higher for longer" whispers. While we all hoped the Bank of England would give us a spring surprise with a rate cut, the global economic weather remains a bit cloudy. ☁️ We’ve moved from expecting rapid-fire cuts to a market that is playing the long game. But here’s the secret: for those ready to move, there is still plenty of opportunity if you know where to look. 🔍
Speaking of opportunity, I was recently featured in This Is Money explaining why, despite the headlines, it is still a GREAT time to buy a home. 📰 Read the full feature here!
🗓️ Upcoming Dates to Watch
Bank of England MPC Meeting Reflection: The verdict is in. 🏛️ Date: 19th March 2026 The Mortgage Geezer’s Take: As predicted, the Bank of England held the base rate at 3.75%. 🛑 While inflation is cooling, the committee is clearly waiting for more "concrete evidence" before hitting the down button. The message? Patience is a virtue, but don't expect a freefall in rates anytime soon. The "Hold" is the new "Normal" for now.
The Energy Performance Certificate (EPC) Reform Debate: 🌿 Date: Early Summer 2026 The Mortgage Geezer’s Take: There is fresh chatter in Westminster about tightening EPC requirements for rental properties again. Landlords, keep your eyes peeled; upgrading your property’s efficiency isn’t just good for the planet—it’s becoming a requirement for the best "Green Mortgage" rates. 🔋
📉 The Real Deal: Market Trends
The "Hold" stabilizes the ship ⚓
Steady as She Goes: Following the BoE's decision to hold, lenders like Santander and Virgin Money have kept their pricing relatively stable this week. ⚖️ We aren't seeing the aggressive price wars of January, but we aren't seeing a massive spike either. It’s a "wait and see" plateau.
Where Rates Sit: Average 2-year fixes are hovering around 4.85%, while 5-year deals remain the "value play" at approx 4.92%. 📈 High-equity buyers (those with a 40% deposit) can still snag deals closer to 4.2%, but those sub-4% unicorns are staying hidden for now. 🦄
The Mortgage Geezer’s Take: Don't let the "Hold" freeze your plans. 🧊 History shows that waiting for the "perfect" bottom of the market usually means you miss it. With the base rate steady, now is the time to secure a rate. Remember: you can always ditch a deal for a cheaper one before you complete if rates drop, but you can’t go back in time if they go up! ⏳
House Prices: The "Spring Bounce" arrives early 🌸
The Stats: Despite higher rates, buyer demand is up. The latest Rightmove data shows a 1.5% jump in asking prices this month as sellers gain confidence. 📈
The Hotspots: We are seeing a "Commuter Comeback." Towns like Reading, Manchester, and Birmingham are seeing high activity as workers balance office days with home comforts. 🚄
💡 Lender Spotlight: The "Retention" Revolution 🔄
With new purchase volume steadying, lenders are fighting harder than ever to keep their existing customers.
The Headline: We’re seeing "Product Transfer" windows opening earlier. Some lenders are now allowing you to lock in a new deal 6 or even 7 months before your current one ends. 🔓
The Perk: Lenders are also offering "Loyalty Rates" that are sometimes better than what they offer new customers—a rare treat in the banking world! 🎁
The Mortgage Geezer’s Take: If your deal ends anytime in 2026, call us now. 📞 We can see what your current lender is offering under the table versus the rest of the market. Don't just roll onto the Standard Variable Rate (SVR)—that’s an expensive mistake! 💸
🏆 Client of the Week
The "Contractor Comeback": Sarah & the Dream Semi 🏡
Background: Sarah, an IT consultant in Leeds, moved from a permanent role to a high-paying day-rate contract only 4 months ago. 💻 Her bank told her she needed two years of accounts before they’d even look at her. She thought her dream of buying a Victorian semi was over.
The Strategy: We went to a lender that specialises in "Day Rate" contractors. Instead of looking at years of history, they looked at her current contract and her 10-year track record in the industry. 📑
Achievement: Sarah secured a mortgage based on her full contract value, not just her "drawn" salary.
The Quirk: Sarah’s new house has a "catio" (a patio for cats). 🐱 She spent more time during the valuation worrying about the fence height for her Maine Coon, "Pixel," than she did about the interest rate!
The Lesson: One "No" from a high-street bank doesn't mean "No" from the whole market. Specialist criteria are there to be used! ✅
🧐 Did You Know?
The "Chancel Repair" Liability is a hidden trap! ⛪ In parts of England and Wales, some ancient land titles carry an obligation to pay for repairs to the local parish church’s chancel (the area around the altar). 💸 Even if you aren't religious and have never stepped foot inside, you could be handed a bill for thousands! ⛪ Luckily, "Chancel Repair Insurance" is cheap and standard in most searches—but it’s a quirky reminder that when you buy a house in the UK, you’re buying centuries of history (and sometimes its repair bills)! 📜
Keep your cuppa warm and your rates low, ☕
The Mortgage Geezer 🎩
The Mortgage Geezer is a Trading Style of Access Financial Services Limited, Unit 1 Furtho Court, Towcester Road, Old Stratford, Milton Keynes, MK19 6AN who are regulated by the FCA Reg No: 301173
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS