While the outcome of the Referendum may have sent the FTSE plummeting along with the value of the pound, it presented an opportunity for Bien Media clients. Journalists were keen for considered analysis as to how the outcome would affect the property market, and what it would mean for people’s mortgages.
Estate agent Jeremy Leaf (www.jeremyleaf.co.uk) commented on the housing market and what it would mean for prices. On the day the result was announced, Jeremy was quoted in six publications from City AM to What Mortgage, Moneywise and The Mirror. He said that the ‘only certainty was uncertainty’ and that a pause in decision-making would likely affect property prices.
On the mortgage side, Mark Harris of broker SPF Private Clients (www.spf.co.uk), stressed that it would be business as usual on the lending front, at least in the short term. He was quoted in 12 publications/websites, including BBC News, ITV News, the Financial Times, Times and Guardian.
He told the Times: ‘In the short term not a great deal will change. Mortgage availability is good, banks still want to lend and interest rates are at an all-time low. Swap rates are falling on the back of the outcome, which could put downwards pressure on mortgage rates, and it’s likely to have put back any potential interest rate rise. The remortgage market is likely to continue to be aggressive with some competitive deals to attract borrowers.’