30 September 2019

Press Coverage

Successful entrepreneurs are finding it hard to get a mortgage. SPF Private Clients helped Jane Wadham, a florist, transfer her Barclays loan onto a new mortgage, after she struggled to do so when moving house. Christian Hinzpeter of SPF Private Clients, said: ‘With margins being squeezed, lenders are competing harder for business. Some banks are being more understanding, as long as they can see the income is there.’ The Times, 14 September 2019

Parents who are buying property for their children at university need to be careful or they could end up paying the 3 per cent stamp duty surcharge for a second home. Mark Harris of SPF Private Clients, said: ‘Different ways of buying have different tax and financial implications – and there are specific rules governing houses in multiple occupation – so anyone buying a student property should seek professional advice.’ The Daily Telegraph, 23 September 2019

The Halifax has launched a family assistance mortgage to help parents assisting their children onto the housing ladder – but who do not want to hand over their money for a deposit. Mark Harris said: ‘Growing demand from parents to help children onto the housing ladder, while still keeping control of their savings, is resulting in the growth in popularity and availability of these mortgages. However, there are conditions that anyone looking into these products should be aware of. Some lender will only allow first-time buyers to access these schemes, while others require the assistor to be mortgage free.’ The Daily Telegraph, 12 September 2019

Property transactions in August edged down year-on-year, according to HMRC. Mark Harris said: ‘Transaction numbers remained fairly subdued in August on a year-on-year basis, despite HMRC showing a significant fluctuation compared with July. But a steady market is what you would expect for the time of year – with the added spectre of Brexit looming, buyers and sellers didn’t have to look far for an excuse not to do anything but sit on their hands.’ City AM, 24 September 2019

While the housing market is subdued, those buying a house may be able to pick up a good deal, said Mark Harris. ‘Transactions remain fairly steady as buyers and sellers who have to get on with things continue to do so. Deals are being done and early signs are that business could be brisk this autumn even as Westminster continues to argue over Brexit.’ This is Money, 6 September 2019

Uncertainty means slow growth continues to hit property prices. Mark Harris of SPF Private Clients, said: ‘Despite political and economic uncertainty, the Nationwide house price index, along with other surveys, shows that many people are getting on with things. There has been too much indecision and uncertainty for an extended period, and buyers and sellers can only wait so long while politicians sort themselves out.’ The Independent, 30 August 2019