A change of plan
Welcome to June’s edition of Mortgage and Property Investment Magazine where everybody is winding down for summer with no major changes on the horizon… is what I was expecting to be writing two weeks ago before Rishi Sunak sent everyone’s summer plans into disarray by announcing the 2024 General Election for July 4th.
At the time of writing, we are still at the early stages of campaigns, but the polls are continuing to predict a significant swing of the pendulum and thus a change of government is seemingly imminent.
What this means for the mortgage and property market is still unclear as parties, as of yet, have not released their full manifestos. However, with housing being one of numerous campaign battlegrounds ahead of July 4, significant changes can be expected, and Mortgage and Property Investment Magazine will be covering it all both pre- and post-election.
To add further food-for-thought for all our readers, this month is likely to mark a turning point for interest rates as Europe, the UK and the U.S potentially begin to start the process of cutting them.
All packed together, June should mark an important and exciting month for the mortgage and property market so be sure to keep an eye on our website for all the latest developments.
In this month’s issue
This month’s issue of Mortgage and Property Investment Magazine looks at some of the issues withing the property market pre-election, including the popularity of equity release, the fairness of the homebuying process and the struggles of older, first-time buyers.
First up the Equity Release Council analyse their findings that suggested more than three in five (61%) UK homeowners – equivalent to 18.7 million people – are interested in releasing money from their home in later life to meet a range of financial needs.
Next, Propertymark makes the case to the parliamentary committee about making the home buying and selling process fairer as Timothy Douglas, Head of Policy and Campaigns at Propertymark, presented evidence to the Levelling Up, Housing and Communities Committee, chaired by Clive Betts MP, regarding the obstacles to improvements, and the regulation of property agents.
Finally, new proprietary data from Legal & General Ignite on mortgage adviser searches highlights the growing trends among first-time buyers in the UK, including the growth of older first-time buyers, increases in average loan sizes and longer mortgage terms being searched for.
Alex Sullivan
Managing Partner,
Mortgage and Property Investment Magazine
