Is the mortgage market turbulence getting you down? Have you got a mortgage-related question you need answering? Email in, and we will get one of our experts to reply. Nick Mendes, mortgage technical manager at John Charcol, has given his advice to a reader below. If you have a question for our experts, email us at money@theipaper.com.
Question: We're first-time buyers with a strong deposit, but hardly any homes are coming onto the market in our area. We don't want to rush, but we also don't want to wait too long and watch prices or see mortgage rates rise again. How do we know when the right time is to move and make an offer?
Answer: You are not alone in feeling caught between wanting to act and wanting to wait. Almost every first-time buyer I speak with asks a variation of the same question: When is the "right" moment to buy?
And the truth is, there is no single perfect moment. What you get instead are patterns, windows of opportunity and market conditions that make buying easier or harder - and the skill is knowing which window you are in.
At this time of year, it's completely normal to see fewer homes coming onto the market. The period from mid-November to the New Year is traditionally quiet: sellers pause listings, viewings slow and most people do not want to move through the Christmas season.
None of that signals a weak market; it simply reflects behaviour that repeats almost every year. The key change comes in January and February when listings rise sharply as sellers re-enter the market and buyers return with fresh energy. If you feel your area has been slow, the odds are high that you'll see more choice early in the new year.
On the mortgage side, there is a temptation to try to "wait for the bottom" - but mortgage pricing doesn't behave like shop discounts that get cheaper by the week. Lenders base their fixed rates on swap rates, which price in where markets expect Bank Rate to be in the future.
That means rates move ahead of the news, not in reaction to it. By the time headlines announce a cut or improving inflation, those expectations have already been feeding into fixed rates for weeks.
The encouraging part is that the mortgage market has settled dramatically compared with the volatility of the past two years. We are no longer seeing big jumps from week to week. Instead, rates are holding within a narrow and predictable range. Any further improvements in 2026 are likely to be gentle rather than dramatic.
For a first-time buyer, that means waiting purely for a cheaper rate carries more risk than reward. You might save a fraction of a percentage point but lose the right home or face more competition if the market picks up.
Property prices show a similar pattern. In many regions, particularly in the North, Scotland and parts of Wales, prices have risen modestly. In London and the South East, they remain softer but broadly stable.
Nationally, we are in a period of unusually calm price behaviour - a far cry from the rapid rises of 2020-2022 or the sharp wobble that followed. Price stability is often the best environment for a first-time buyer: it gives you space to make decisions without the pressure of chasing a moving target.
So, how do you decide when to make your move? There are three practical signals I would look for.
The first is your own readiness. If your deposit is in place, your credit profile is clean and you have a clear budget, you are already in a stronger position than many other buyers.
Securing an agreement in principle (AiP) now means you can act quickly when the right property appears, rather than scrambling to get paperwork ready while other buyers get ahead of you.
The second is rising supply. Pay close attention to how many new listings appear in your area over the next six to eight weeks. The moment you see choice improving, you are entering the most favourable part of the year for buying.
More stock means more negotiating power, less pressure and a better chance of securing the home you truly want.
The third is personal fit. Buyers often get fixated on timing the market, but in reality, the most important question is whether the property suits your life.
Mortgage rates will rise and fall many times over your ownership; you can always refinance later. What you cannot do is retrospectively buy the home that slipped away.
The simplest advice is this: prepare now and act when the right property appears, not when the market appears perfect. You already sound well positioned.
Use this quieter period to get ready and expect activity to pick up noticeably once the seasonal slowdown ends. That is when opportunities tend to appear - and you will be ready to take advantage.
