NatWest ups overpayment rates on mortgages – could save thousands

He said the secret to beating the housing market is to be prepared: “It’s important to work with a broker to obtain a decision in principle as all estate agents are going to request this so you can get an offer accepted on a house and beat the competition from other buyers.”

Paul Coss, co-founder of Haysto, said the housing market is expected to be quieter in 2023 which could mean it’s a buyers’ market.

“As the Bank of England is expected to raise rates further to try to combat inflation, and with no signs of a significant reduction in mortgage rates, it’s expected that the housing market will be quieter in 2023.

“With housing prices down and many houses going for under asking price, the market is very much on the side for buyers. But with the cost-of-living crisis continuing to be of huge concern for potential buyers, budgeting and the mortgage market continues to be a priority.”