It Will Pay to Wait to Refinance Your UK Mortgage

Hold on before committing to a much higher interest rate on your mortgage refinancing and you're very likely to get a better deal, is the sage advice from UK household finance advisors.

While UK house prices may be turning lower, with the Nationwide Building Society survey showing a decline of 1.4% in November, this follows impressive gains since the worst of the pandemic of more than 20%. According to Nationwide's Chief Economist Robert Gardner, home prices are likely to rise by around 3% this year, though he expects the headline rate will turn negative by the middle of next year due to comparisons with big gains in early 2022. But a modest adjustment after a period of strong gains is probably necessary and healthy.