We saw some welcome news last week, with several lenders reducing their rates. That’s a positive step, and one worth acknowledging after a stretch of rates moving mostly in the other direction due to falling swap rates.

That said, it’s worth keeping some perspective: these reductions, while genuinely positive, haven’t brought rates back down to where they were earlier in the year.

The ups and downs are likely to continue, and that’s exactly why holding off still isn’t the right course of action. As the year goes on, we may well see further fluctuations in both directions, and nobody can say with confidence which way things will move next.

The safer approach remains the same one we’ve been encouraging clients to take all year: continue with your plans, and lock in a deal now. You never know what’s on the horizon, and there’s little to be gained from waiting to find out.

Away from rates, one trend we’re seeing more of is clients taking advantage of additional borrowing against their property. Whether it’s funding home improvements or consolidating existing debt, more and more people are exploring this route.

This sits within a much bigger wave of activity. With around 1.8 million fixed rate deals due to expire this year, and both remortgaging and product transfers forecast to keep growing, a huge number of borrowers are actively reviewing their options right now.

Additional borrowing is increasingly part of that conversation, rather than a separate decision. In fact, a good chunk of this activity is being driven by clients wanting to get work done on their homes before Christmas, which will be here before we know it.

How clients go about this matters as much as the decision itself. Which option makes the most sense depends heavily on the rate they’re already on and whether disturbing it would trigger early repayment charges, so this isn’t a one-size-fits-all conversation.

It’s a good reminder that mortgage advice isn’t only about rates. There’s real value for brokers in having these wider conversations with clients about what their property, and their existing borrowing, can do for them.

With so many clients reassessing their finances this year, brokers shouldn’t wait to be asked – raising additional borrowing options proactively is one more way to make sure clients are getting the full picture, not just a renewed rate.

Rachel Geddes is strategic lender relationship director at Mortgage Advice Bureau