29 November 2017

Press Coverage

Lenders could launch more first-time buyer loans following the stamp duty changes announced in the Budget, with Barclays reintroducing 95 per cent loan-to-value mortgages after withdrawing its range earlier this year. Mark Harris of mortgage broker SPF Private Clients, says: ‘We expect more lenders to piggyback off this news and release products aimed at first-time buyers. Barclays has been quick off the mark.’ The Times, 25 November 2017

With borrowing costs reputedly set to rise in Europe, is now a good time to buy in France? Miranda John of SPF Private Clients, says: ‘The French prefer long-term fixed-rate mortgages so rates are competitive, starting at about 2 per cent fixed for up to 20 years. With indications from the European Central Bank pointing towards an upward trend for rates next year, a long-term fixed mortgages will protect you from rate rises.’ The Sunday Times, 19 November 2017

Parents can help first-time buyers using mortgage schemes such as Barclays’ Family Affordability Plan, which allows two people in the same family to combine their borrowing capacity. ‘But only one applicant is listed on deeds, so the parent doesn’t have to pay the 3 per cent stamp-duty surcharge for owning a second home, ‘ advises Mark Harris of SPF Private Clients. The Sunday Times, 12 November 2017

There are about a million mortgage prisoners who were awarded loans before the 2008 financial crash but who found that subsequent tougher financial stress tests meant they were turned down for fixed-rate or interest-only deals when remortgaging. Mark Harris of SPF Private Clients says that many lenders are refusing to offer people loans because they are trying to shrink their books. The Times, 11 November 2017

Does the UK’s withdrawal from the EU really have to dash your hopes of buying a place in the sun? The short answer is no, argues Miranda John of SPF Private Clients. ‘The sales figures for many of the preferred holiday-home destinations in Europe actually rose significantly last year, and have continued to do so this year,’ she says. ‘This is not only driven by British buyers – but they are very much in evidence in spite of Brexit.’ Money Observer, 7 November 2017

Property prices increased 2.3 per cent between August and October, the fastest three-month pace of growth recorded since January, according to the Halifax. Mark Harris of SPF Private Clients, says: ‘With demand for housing outstripping supply, property prices continue to be supported with the annual rate of growth continuing to rise. It helps that mortgage rates remain low, and even though the Bank of England raised base rate last week, there are no signs of them shooting up anytime soon. While psychologically the first base rate rise in ten years may affect people’s decision-making when it comes to moving house, signs are that any further increases will be modest and slow, so unlikely to put the brakes on the market.’ This is Money, 7 November 2017

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