Remortgage now or after election?

mustachio

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.

davidmcn

What makes you think the election outcome would affect interest rates?

mustachio

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

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

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

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

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!

principlecounts

Now.......

Thrugelmir

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.