Falling Interest Rates, Expiring Deals — A Window of Opportunity
Summer 2025 finds the UK mortgage market at a pivotal moment. Following several Bank of England base rate reductions — from 5.25% in August 2024 to 4.25% by May 2025 — lenders are now competing harder than ever, introducing more attractive fixed rates and incentives.
Many homeowners are approaching the end of two- or five-year fixed deals taken out during higher rate periods. If you’re one of them, now’s the time to act — avoid reverting to your lender’s Standard Variable Rate (SVR), which currently averages around 7.60% (as of July 2025).
Why Acting This Summer Makes Strategic Sense
This summer stands out thanks to:
- Easing inflation and encouraging forecasts for further base rate cuts
- Mortgage product competition intensifying among lenders
- Borrowers regaining affordability, especially with improved LTV ratios
- A wave of expiring fixes from 2020 and 2023 reaching maturity
Summer is also a historically active period for home moves and financial reviews. Acting now helps you beat any autumn market rush and secure peace of mind ahead of potential volatility later in the year.
It’s Not Just About the Rate
Remortgaging isn’t just about chasing a lower number. It’s also the right moment to:
- Reassess term length, repayment type or loan structure
- Release equity for renovations, education or major life goals
- Consolidate higher-interest debts like credit cards or personal loans
- Protect your financial future with updated life, critical illness or income protection cover
At Argyll Drummond, we find many clients forget to revisit their protection policies when remortgaging — and this can lead to serious gaps in cover. We make sure your mortgage and protection strategies stay aligned.
Yorkshire in Focus: Local Trends Matter Too
Yorkshire’s property landscape is seeing renewed momentum. According to Knight Frank, UK house prices may grow by 3.5% in 2025, and the rental market across Yorkshire and the Humber remains active, particularly in commuter towns around York and Goole.
Having a mortgage advisor who understands the local nuances, lender appetite and borrower challenges specific to this region makes a real difference.
Is It the Right Time For You?
You should consider a mortgage review this summer if:
- Your fixed or tracker deal ends in the next 6–9 months
- You’re on a Standard Variable Rate (SVR) and want to save
- You’ve had changes in income, employment or family life
- You’re planning home improvements or need extra borrowing
- You haven’t reviewed your protection cover in years
Even if you’re not ready to switch today, knowing your options and planning early (ideally six months out) ensures a smoother, more cost-effective transition.
Argyll Drummond: Mortgage Advice That’s Personal
We’re not a call centre — we’re real people with offices in York and Goole who take the time to understand what matters to you. Whether you’re employed, self-employed, or a landlord reviewing your portfolio, our team offers independent advice from a wide panel of lenders — and protection solutions under the same roof.
Book a No-Obligation Review This Summer
Whether you want to remortgage, move, or simply sense-check your deal, this is a rare window to act smart.
Get in touch today for a free, no-pressure consultation.