Wednesdays inflation figures have triggered Prime Minister Rishi Sunak to call a snap general election for July, in a surprising move for some. The UK inflation rate is at it’s lowest level for almost 3 years meaning it is back to more normal levels, something not unexpected but it does seem to have happened slightly quicker than anticipated.
What does this mean for mortgages and investments?
Generally this means that mortgage products should become more affordable when interest rates are cut by the Bank of England in the coming months. The snap election being so soon means any uncertainty by lenders won’t last long and the more affordable rates may come sooner rather than later.
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