The 2015 General Election and your mortgage


For many in the UK who are thinking of getting a new mortgage, the 2015 General Election introduces an uncertainty that is causing them to hesitate. Should they buy a new home now or should they wait for the election to come and go so that they can see which way interest rates will go? One thing is certain; all analysts and experts agree that those who are thinking of investing in property should do it before May 2015 because after that, there is only one way that interest rates can go – up. In fact, analysts have predicted that the Bank of England is likely to hike rates sooner than most people think.

This means that the rates that mortgage lenders are offering now are the best that you are going to see for some time. In fact, some quarters have hinted that these are the best rates that you may ever see. Here is why; lenders have lending targets that they must meet every year. To achieve their targets they usually lower rates so as to attract new mortgages and re-mortgages. The problem is that once they reach their targets they no longer have the motivation to offer mortgages at low rates.

Anyone who is holding a mortgage right now is probably enjoying the lowest rates they will for a while. If you have been holding back on a mortgage or re-mortgage you are making a mistake. Whichever party wins the elections, whether Conservative, Labour or any other party, you can be sure that homeowners will be paying higher rates than they are now. In fact, the rates have been rising in the last few months. Many people are now paying higher rates than they did in January or February.

So what is the next step? The best thing that you can do is seek out the services of a good mortgage consultant such as Mortgage Advice Services. They are one of the leading firms in the UK when it comes to guiding individuals to the right mortgages and re-mortgages. They have consultants on hand who are ready to come to you immediately they receive your call so that they can analyse your financial situation and find you a suitable mortgage. Because they have worked with so many lenders over the years they are able to find you the best rates in the market.

Call Mortgage Advice Services today on 01332 257 087 or visit their website, http://www.mortgageadviceservices.co.uk/, for more information.

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