For many buyers, the waiting game is one they’ve been playing far too long. Put off by high interest and mortgage rates, they had to sit on the sidelines, either staying put in a property they own or continuing to rent if they weren’t yet on the property ladder.

But today it’s a different story and although further rate cuts are probable, some buyers are choosing the certainty of now rather than waiting for a ‘what if?’

Choice is plentiful

With buyers’ confidence growing we have seen a return of sellers, too. Currently, the latter outweighs the former with a record number of properties for sale, the highest at this time of year since 2014, according to Rightmove.

This gives buyers negotiating power and although prices are set to continue rising by around 2% over 2026, buyers managed to beat final selling prices down in 2025 and beyond. A third of homes currently for sale have been reduced in price.

It’s expected that more buyers – and more sellers – will emerge this year. However, rather than waiting for increased choice and additional competition, many buyers are choosing to make their move now to secure their properties.

Interest rate cuts may be less plentiful than expected

In the summer of 2024, at the start of the trimming of the base rate, optimism was high and the predictions about the number of cuts were pretty much spot-on. After a 0.25% cut in August 2024, the rate was reduced by the same amount again in November 2024. 2025 saw predictions of four cuts, which translated into 0.25 percentage-point cuts in February, May, August and December, taking the base rate from 4.75% at the start of the year to 3.75% by the end.

Cuts for this year are less predictable. While the governor of the Bank of England, Andrew Bailey, said in December that he saw scope for “some additional policy easing”, he warned that the Monetary Policy Committee had “more limited space as the bank rate approaches a neutral level.”

The decision to cut the rate in December was tight, with a 5:4 majority in favour. At February’s meeting, the first of 2026, the base rate was maintained. However, it was a marginal decision, with four of the nine-strong team calling for a cut to 3.5%.  Now speculation is on for an April cut instead, although some believe that could be the only decrease of the year.

Mortgage rates expected to remain stable

Mortgage rates hit their lowest since 2022 in January, but at the beginning of February they edged up slightly again. However, the latest deals factor in the interest rate environment and brokers expect mortgage rates to remain relatively stable. The relaxation of lending criteria has also improved mortgage affordability and put buyers in a better position.

Accounting for all these factors, many believe it would be more prudent for buyers to act now, rather than wait for a perfect scenario that might not emerge, especially if their desire to move is urgent or they’ve found the perfect property.