We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Remortgage now or after election?

I am wondering what the consensus is around the best time to re-mortgage? I am asking in respect to getting the lowest rates (:money:)

If the outcome is a conservative party are elected which seems highly likely then is that likely to affect rates in a good way or a bad way? Or am I over thinking the whole thing?

P.S My options are to remortgage on 1st June or wait until July or August.

Comments

  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What makes you think the election outcome would affect interest rates?
  • mustachio
    mustachio Posts: 83 Forumite
    Tenth Anniversary 10 Posts Name Dropper Combo Breaker
    davidmcn wrote: »
    What makes you think the election outcome would affect interest rates?

    Because lenders may feel that the economy is in good/bad hands for the next 4 years dependent upon the outcome of the election.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    And why would that make them change morgage rates in any particular direction ? And why do you think, even if it did, that that would be in effect by August ?

    To answer your question, yes you are over thinking it.
  • sevenhills
    sevenhills Posts: 5,938 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I think Labour would be more likely to increase rates, but they are 12/1 with the bookmakers. If they are in with a chance, it should be evident in June.
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    Labour wouldn't be able to increase rates ( in the astonishingly slim chance they were elected). . It's not within the governments power, and why would they do it since even if it was in their power it would be economic suicide at the present moment.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    mustachio wrote: »
    Because lenders may feel that the economy is in good/bad hands for the next 4 years dependent upon the outcome of the election.

    That's not really how lenders decide what rates to apply. And not sure how anyone can determine in advance which sets of hands are good/bad anyway!
  • Now.......
    Student loan: Cleared.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    mustachio wrote: »
    I am wondering what the consensus is around the best time to re-mortgage?

    When it suits you on a personal level. Only worry about matters over which you have a degree of control.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.