12 June 2017

Press Coverage

The General Election may have resulted in a hung parliament but there is no need to panic as the housing market continues to be supported by strong fundamentals. Mark Harris of SPF Private Clients said that while swap rates (on which fixed rates mortgages are priced) can be ‘pretty volatile in response to bad news’ it does not necessarily follow that mortgage rates will rise. ‘The oversupply of money will likely continue to keep mortgage rates low at least in the short-to-medium term,’ he said. Zoopla, 9 June 2017

A group of homeowners who have been stranded for years on the highest mortgage interest rates are demanding action from the watchdog. Mark Harris of SPF Private Clients agreed that this could be a problem for borrows but warned them to shop around to make sure they can’t get a deal elsewhere before assuming this is the case. The Times, 10 June 2017

A Times reader wishes to spend three months a year in Australia. Salini Bundhoo of SPF Private Clients, advised: ‘Her ability to retire will depend on the level of income she is aiming for. She may like to give some thought as to how much she will need to fund the lifestyle she has envisaged. She should also work out how much her trips to Australia will cost. The total amount will help her get a handle on how much income she will need to generate.’ The Times, 3 June 2017

House prices continue to rise but property inflation slipped back to 3.3 per cent in May, according to the Halifax. Mark Harris of SPF Private Clients, said: ‘There has been quite a bit of re-pricing downwards on mortgage deals in the past week, with Accord, Virgin Money, Platform, New Street and Tesco all cutting rates. Lenders are keen to lend and with the mortgage market oversupplied in all areas, pricing is likely to remain competitive for the foreseeable future.’ This is Money, 7 June 2017

Expanding on these comments in the The Mirror, Mark Harris of SPF Private Clients added: ‘[These rate reductions] are particularly good news for borrowers who are coming up to remortgage.’ The Daily Mirror, 7 June 2017

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