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
Monday 22nd June saw Keir Starmer resign as Prime Minister and Labour leader. The resignation does not directly impact mortgage rates, as changes were taking place before this announcement. However, it could influence mortgage rates indirectly through financial markets and future government policies.
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Buying your first home is a huge milestone, but it can also be a complex process. There are several factors a first-time buyer should consider before making an offer on a property, including understanding the difference between leasehold and freehold and checking council tax bands.
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Here are the lowest fixed mortgage rates of the week, available to first-time buyers, home movers, buy-to-let, and those remortgaging.
Call us for more information: 01628 507477 or email: team@mortgagerequired.com.
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Remortgaging means switching to a new mortgage deal. This will either be with your current lender or a new one.
Getting advice and moving to a new deal when the time is right can mean lower monthly mortgage payments, better interest rates, or releasing equity from your property.
Here are some signs it may be time to remortgage.
According to Nationwide Building Society’s latest House Price Index, house prices dropped 0.6% month on month in May – the first monthly decline this year.
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19 May 2026
Research from Lloyds identifies the most affordable areas in the UK for first-time buyers to be able to get onto the property ladder.
On Wednesday, 13th May, King Charles delivered his speech at the House of Lords, outlining the government’s plans for the upcoming year.
Here is a summary of the housing and energy/environment points.
More information
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