Thinking About Buying? Here’s Why Now’s the Time to Make Your Move!
Buying a new home is a huge decision and one of life’s biggest milestones – but it doesn’t have to be overwhelming. Choosing the right mortgage, the right location and of course finding a property that ticks all the boxes, can take time.
However, with steadying mortgage rates and a record number of homes on the market, the dream home you’re searching for could be much closer than you think. Whether you’re a first-time buyer or looking for your next move, now could be the perfect time to buy!
Is now a good time to buy a house in the UK?
The strength of the UK housing market is dependent on several factors. Economic conditions, interest rates and supply and demand all play a role.
Right now, the UK housing market remains relatively stable. There are a record number of homes available for sale, meaning more options for buyers and increased competition among sellers!
What’s more, the recent 0.25% cut in the Bank of England base rate to 4.5% has slightly reduced mortgage rates, boosting buyer confidence and making mortgages more affordable for many.
If you’re currently renting, rising costs may make buying a home now a more cost-effective long-term option. First time buyers can benefit from government purchase schemes, which can increase affordability and help to get you on the property ladder.
Also remember that when the stamp duty thresholds changed in April 2025, homes under £300,000 will remain exempt from stamp duty if you’re buying your first home.
If you’re moving up the property ladder or downsizing, it’s important to research the local property market and find out what you can afford. Don’t forget to consider any moving costs such as estate agent fees, valuation fees and removals as part of your overall budget.
What’s happening to house prices?
Lower mortgage rates and more buyers in market are predictably impacting house values. As of February 2025, the House Price Index reports there has been an annual rise in house prices of 1.8% and it is expected this will increase to 2.5% by the end of 2025.
It is anticipated that increased housing supply and stable mortgage rates however will steady the rate of inflation, so buying now could mean securing a good deal before prices start to go up again.
How do I find a good mortgage deal?
Before you start exploring your mortgage options it’s important to get a few things in order to make the process run smoothly and give you the best chance of finding the deal that’s right for you.
Check Your Credit Score
The higher your score the lower the risk you pose to lenders which means you can get better interest rates. If you don’t know your score you can quickly set up an account with credit check websites such as Experian or Equifax. Here you can find if you have anything negatively affecting your score. Correcting errors and paying off outstanding debts is the quickest way to help to improve it.
Compare Lenders & Deals
Wading through all the information from lenders online can be overwhelming, so to compare mortgages you can use mortgage comparison sites like: MoneySavingExpert, Compare the Market or Which? Mortgage Advisers for advice. Look at Fixed vs. variable options, early repayment penalties and any cashback or lender incentives.
Get some financial advice
A mortgage broker or financial advisor can offer expert guidance. They will review your finances and let you know if you meet the criteria for lenders. A broker will also have access to the best mortgage deals and more mortgage products than you will be able to find yourself, giving you more choice and often saving you money.
Which lenders are offering the best mortgage deals?
Once you’ve done all the financial preparation and want to start applying for a mortgage you need to determine your budget. Many lenders offer an online calculator to estimate what you can afford. Consider how much deposit you have, look at interest rates, fees, and monthly repayments. For the best deal aim for at least a 10% deposit. Higher loan-to-value (LTV) ratios will mean higher interest rates.
As at March 2025, the best fixed rate two-year mortgages are from Lloyds Bank with rates starting at 3.86%. If it’s a longer term five-year fixed rate deal, you’re looking for then Barclays offer a rate starting at 3.96%.
The best mortgage deals for first-time buyers in the UK include a two-year tracker deal from Bath Building Society, which is currently being offered at 4.44%. And, if you’re a first-time buyer Skipton Building society offers a 95% LTV deal fixed for 2-years for 4.6%.
Check out this handy table from Money to the Masses which highlights all the current best UK mortgage rates. Once you find the right deal for you, make sure you apply and secure your mortgage before the rates change!
Buyers looking for mortgage advice can contact our sales team who will be happy to guide you on the first steps.
What government schemes are available to UK homebuyers?
First-time buyers looking for government-backed homeownership schemes in the UK can take advantage of First Homes and Shared Ownership. Our experts can talk you though all the options available and put you in touch with an independent financial advisor. Click here to make an enquiry with our team.
The First Homes Scheme
This offers discounts with at least 30% off the market value for first-time buyers and key workers and is available on new build homes up to the value of £250,000.
You will need to meet eligibility criteria and have a household income less than £80,000 and have a deposit of at least 5%. You can find out more about how the scheme works here.
Shared Ownership
Another great option for first time buyers is shared ownership. This allows you to buy a percentage of your home – usually between 10% and 75% of its market value – and rent the rest. You will be required to have a mortgage or savings to cover the share you’re buying and have a small deposit based on the share you’re buying. Visit our shared ownership partners Heylo Home Reach to check the criteria and see if it could work for you.
If you’re looking for a new build home whether you’re a first-time buyer or moving up the ladder, then it’s well worth exploring all the incentive schemes offered by developers as these can really help to ease the financial burden and get you moving quickly!
What are the benefits of buying a new build home?
Buying a new-build home in the UK right now could be a smart move for several reasons:
- Energy Efficiency & Lower Bills
- Lower Maintenance Costs
- Availability & Speed of Move
- Developer Incentives
Energy Efficiency & Lower Bills
New-build homes are built to higher energy efficiency standards (EPC ratings A or B), reducing running costs compared to older properties. This is a big plus with rising energy prices.
Lower Maintenance Costs
Everything is brand new, meaning fewer repairs and upkeep costs in the first few years. Most new builds also come with a 10-year NHBC warranty (or equivalent), offering peace of mind.
Availability & Speed of Move
New build developers often have homes ready to move into immediately, avoiding lengthy chains. If buying off-plan, you may also have time to save more before completion.
Developer Incentives
Many housebuilders offer attractive deals including deposit contributions, stamp duty paid, mortgage subsidies and free upgrades. Check out our buying options for more information.
What incentives does Allison Homes offer?
At Allison Homes we offer a wide option of packages and purchase schemes depending on your personal circumstances.
For all buyers
Access the lowest interest rates in the entire market, as low as 0.6%, with the Own New Rate Reducer scheme. This new scheme was launched in 2024 and is available on new build homes helping you to unlock lower mortgage rates and reduce your monthly payments.
For First Time Buyers
Friends and Family Deposit Match. Buy your home without needing a deposit of your own. If you’re lucky enough to have a friend or family member gift you up to 5% of the purchase price of your new home, Allison Homes will double it to 10%.
For Second Time Buyers
Bypass the traditional selling process with chains and fees, get 100% full value guaranteed for your old home, and a smooth hassle-free move to your new home with Part Exchange.
For Key Workers
Whether you’re in the military, ambulance service or social care, as long as you have a Blue Light Card you are eligible for the Key Worker Discount Scheme. Allison Homes will make a £500 cash contribution for every £25,000 of the value of your home up to a maximum of £12,000.
If you’re ready to make your move explore our current developments and homes for sale here.
Allison Homes web article: 26th June 2025
