We speak to Matt Begley, MD of Harris Begley Financial Planning, to give us an overview of the financial horizon and its impact upon the property market.
Due to a number of variables, including our imminent exit from the European Union, Trump’s presidency and the 2017 elections in France, Holland and Germany, we are in a period of economic uncertainty. Not surprisingly, the pound has fluctuated over the past six months as a result of the Brexit referendum and UK inflation is on an upward cycle.
“As would be expected, all of this upheaval has, and will continue to have, an impact on the financial markets, which may also affect the property sector,” adds Matt. “However, much has recently been undertaken by the government and the Bank of England to help ensure the country is in a better position to sustain any future shocks to the economy. Bank of England initiatives, such as the drop in the Bank Rate, £435bn of quantitative easing and the Term Funding Scheme, may help to keep down the costs for those that have or are seeking to take advantage of the current mortgage deals.
“In the midst of all this, there are still excellent mortgage deals available from lenders, should you be looking to move to a new home, get on the property ladder, raise funds to finance renovations on your property, invest in the buy-to-let sector or simply secure a better interest rate than your current mortgage deal,” continues Matt. However, with so many potential outcomes for the European Union and Brexit in the year ahead, it naturally makes sense to suggest a degree of caution, which is why professional advice is more important than ever. According to the IRESS Mortgage Efficiency Survey report, October 2016, 81.7% of mortgages are now secured through intermediaries such as Harris Begley Financial Planning.
“As professional financial advisors, we operate daily within the financial markets and the mortgage marketplace, so we benefit from a direct insight and can advise you of your best options based on our knowledge, experience and expertise,” Matt explains. “Understandably we are keeping a close eye on how the Brexit process develops and any impact it may have on our clients’ investments and borrowing.”
So, if you are looking for a mortgage, pension or investment guidance, Harris Begley can provide you with professional, impartial advice and a free, no-obligation consultation.
HARRIS BEGLEY FINANCIAL PLANNING