Here at Mortgage Required, we have noticed that uncertainty over the General Election has failed to put a substantial dent in mortgage lending. My guess is that there are a few of good reasons for this:


1. The mortgage price war between lenders, which has seen 5 year fixed rates fall below 2 per cent for the first time ever

2. Low (or no) inflation, means the pounds in your pocket go further, and this in turn makes us feel richer and more likely to take the plunge and get a mortgage.

3. Each of the major parties seem to know that the housing market is central to our economy and to mess with it whilst it’s on the up, would be political suicide!

Whilst the Conservatives pledge 200,000 new starter homes for first time buyers under 40, along with extensions to both the Help to Buy and Right to Buy schemes, Labour intend to create a £5 billion fund to build houses for locals.

Ed Miliband says a Labour government would exempt first-time buyers in England, Wales and Northern Ireland from paying stamp duty when buying homes below £300,000, for three years. I seem to remember the last stamp duty holiday caused a spike in demand, which was immediately followed by a slump when it finished. Having working in the mortgage market for 20 years, I am a fan of nether spikes nor slumps!

The Lib Dems have less to say on housing, but they are planning on sorting the banks out (again?) if they come to power and the Greens intend to stop the Right to Buy Scheme and make us think of our houses as homes rather than investment. With a nation as obsessed as ours with the value of our houses Natalie Bennett may have her work cut out!

Recent posts

A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.

Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.

The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.

Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.

As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more. 

The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.

Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.

Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.

 

Keeping the kids entertained over the six-week summer holidays isn’t always easy, especially with the cost-of-living making it even more difficult. Below is a list of fun, inexpensive ideas to do over the break

The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.