The results of the election certainly left the mortgage market … well exactly where it was before the election, but with the added bonus that everyone feels we were in a period of stability.

So much so that with renewed confidence that interest rates will remain low for some time, more and more borrowers don’t want to lock into inflexible long-term deals. Lenders are responding with new competitive variable-rate products, which are proving more and more popular.

TSB are currently leading the way, offering 2 year tracker rates as low as 1.09% (tracking at 0.59% above the 0.5% base rate).

The bank who recently sold to Spain’s Sabadell Bank have also expanded their buy to let range and are currently offering five year fixed rates at an incredible 3.49% for borrowers with a40% deposit!

I think it is safe to say that whatever your politics, the returning government has certainly brought with them confidence in the mortgage market. Long may the rate war continue!

Your home may be repossessed if you do not keep up repayments on your mortgage.

There will be no fee for Mortgage Advice. There may be a fee for arranging a mortgage. The precise amount will depend upon your circumstances, but we estimate it to be £399.

Mortgage Required Ltd, Finance House, 5 Bath Road, Maidenhead, SL6 4AQ is authorised and regulated by the Financial Conduct Authority reference 573718 at www.fca.org.uk.

The Financial Ombudsman Service is an agency for arbitrating on unresolved complaints between regulated firms and their clients. More detail can be found on their website: www.financial-ombudsman.org.uk

Call: 01628 507477