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First-time buyers Brexit dividend could be short-lived

 

Martin Stewart, director and independent mortgage adviser at London Money Group, has said house prices are now 10 per cent cheaper than this time last year.

However, he warned this price reduction - which he called a Brexit dividend - "could turn very quickly" if there is a solution to the UK's departure from the European Union.

If prime minister Theresa May strikes a deal with the European Union, Mr Stewart warned in that case "that 10 per cent Brexit dividend will become a 10 per cent premium for the seller again".

In the latest FTAdviser podcast, Mr Stewart also spoke about the importance of face-to-face advice for products such as equity release, and why there needs to be a "cultural change" around putting down a deposit to buy a house.

Finally, he revealed what is the question he gets asked most by first-time buyers.

Each week, FTAdviser will be joined by a guest from the industry to discuss the week in news and pressing industry issues.

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eleanor.duncan@ft.com