Download the article – New era of home building on the horizon
Political agenda could benefit mortgage brokers
Anyone following the recent Conservative and Labour conferences will have heard how Britain’s two dominant parties are championing increased home building. This could be good news for mortgage brokers as housing stocks look likely to rise giving further opportunities for financing.
At the Labour Party’s conference in Liverpool Sir Keir Starmer announced that his party wants to oversee the delivery of 1.5 million new houses in the next five-year term should Labour come to
power. He would also like to introduce reforms in planning, making house building easier.
Michael Gove, the government’s Secretary of State for Levelling Up, Housing and Communities, and Minister for Intergovernmental Relations also stated that his party was committed to building more new homes despite shelving building targets last year.
In summary, if either party takes power in the next general election, it’s likely that building new homes will be high on the UK’s political agenda. A market with new builds would also free up existing stock creating a more open and diverse choice of properties for sale.
Should this scenario play out and more properties come to market brokers will need to be on call to service the potential increased demand for mortgage products. Are you ready?
Choosing the right lender
The opportunity for brokers is clear to see but planning needs to start now.
As a specialist lender, Harpenden Building Society offers robust mortgage solutions, delivered by an experienced team. We would be pleased to accommodate any uptick in demand.
Our team is committed to simplifying the complexities of mortgage enquiries, ensuring that expert guidance and support is received throughout the application process. Our policy and criteria are also designed to help support brokers and their customers.
We provide individually underwritten mortgages tailor-made to customer needs. Our pragmatic and sensible approach ensures mortgage applications are individually assessed using common sense. We want to say yes!
We also pride ourselves on being flexible and accommodating. This is conveyed through our policy of lending to people in different types of employment and with varied income sources.
In the new build space, Harpenden Building Society’s products include features like:
– 4 applicants per mortgage to assist with affordability (they do not all have to live in the property)
– gifted deposits from family
– JBSP available
– not region specific; we lend throughout England and Wales.
Jean Errington, Business Development Manager, Harpenden Building Society