It really depends on your circumstances. If you’re already on, or about to fall onto a high SVR (standard variable rate), then you’ll need to consider whether it’s worth paying more interest while you wait to see whether rates fall further.
However, keep in mind that the market has seen significant volatility in recent years, and just because rates have fallen from their highest levels in recent history, the base rate remains high for the time being.
If you plan to move soon, then it may be worth staying on an SVR for a short time, as there are no ERCs to pay when you do look at a new mortgage deal. However, it’s a good idea to take guidance from a broker if you’re uncertain on your best move.