Don’t let the upcoming election scare you off buying a home! Experts say the mortgage market is in a good place, with lower rates and more choices than ever before.

According to Octane Capital, the average mortgage rates have been steadily dropping across the board. This means you could be getting a better deal than just a few months ago.

Here’s the breakdown:

• Remortgaging: Rates down by 0.68%
• Home Movers: Rates down by 0.49%
• First-time Buyers: Rates down by 0.43% (still highest at 4.62%)
• Landlords: Biggest drop of all, rates down by 1.11%

But it’s not just about lower rates, there are more mortgage products available too.

• Home Movers: 3.7% increase in products
• Remortgagers: 6.6% increase in products
• First-time Buyers: 8.3% increase in products
• Landlords: 10% increase in products

Election Jitters Won’t Spoil the Party

Jonathan Samuels, the chief executive at Octane Capital, says that while some people might hesitate because of the election, the market is strong and things are looking good. Mortgage approvals have been going up for months and with lower rates and more choices, it could be a good time to buy!