As the General Election looms, how will the coming vote affect your mortgage?

Scheduled for June 8th 2017, this year’s surprise General Election has already caused quite a stir. This year is the 3rd consecutive year that Brits have been asked to vote, following the EU referendum in 2016 and a General Election in May 2015.

So, should homeowners be concerned that political instability will have a detrimental effect on their mortgage and property value? As Brexit is a given, we need none other than a strong leader. But whoever who comes into power is bound to introduce new policies that will impact property market – be it more affordable homes, mansion tax, property tax increases, changes to stamp duty and amending help to buy schemes. All of these could influence personal finances, returns on investment and overall property prices.

If the General Election succeeds in putting off sellers, then we are likely to see even more competitive mortgage deals on the market in forthcoming weeks, as lenders get more competitive in an effort to attract borrowers. This is great news for borrowers, as when supply outstrips demand the simple economics is that mortgages become cheaper.

If you are a first time buyer, especially with a joint income multiple, then there are some great deals to be had. Take a look at our mortgage deals for May and get a competitive rate, whatever your deposit value. All of our deals benefit from enhanced single and joint income multipliers and offer options for a 2 year, 3 year and 5 year fixed rate to suit your circumstances.

Or why not give one of our friendly specialist medical mortgage advisers a call on 01656 749902 to discuss your exact mortgage requirements over the phone.