Brexit  

Guide to buying property in a Brexit world

  • Learn whether property supply is being affected by Brexit and is this means it is a buyers' market.
  • Understand how to find the right mortgage deal.
  • Comprehend what the long-term impact of the UK's departure from the EU will be on the property market.
CPD
Approx.60min
Guide to buying property in a Brexit world

Introduction

Moving house is commonly cited in surveys as one of the most stressful events in a person’s life.

Unfortunately, the vote to leave the EU may have further complicated this already complex process. 

Zachary Gauge, European real estate analyst at UBS Real Estate and Private Markets, believes Brexit in the immediate to short term is creating some uncertainty in the residential sector.

He sees people are holding off buying a house, or holding on to get the right price on a house they’re selling, which will slow the market down.

This is certainly what seems to be happening, as recent figures show fewer transactions taking place. In September, the number of residential property transactions was down on the previous month.

As David Hollingworth, associate director communications at L&C Mortgages, suggests: “It’s hard to pin down particular market conditions specifically to being a by-product of the vote to leave the European Union but there has been a slowing in activity levels and some of the main indices have pointed to a cooling in the rate of house price inflation.”

Is this a direct result of Brexit, or is there more at play, such as the ongoing shortage of housing stock? 

This guide looks at whether the ongoing uncertainty caused by the Brexit negotiations is affecting UK housing supply and considers if it has created a buyers’ market.

It will also cover tips for finding the right mortgage deal for those who are still planning to buy a property and what long-term impact Brexit might have, particularly if no deal is on the cards by the time the UK departs in 2019.

The indicative CPD timing for this guide is 60 minutes.

Contributors to this guide are: James Allen, head of Walker Crips Alternative Investments; Alex Gosling, chief executive of HouseSimple.com; Jeremy Duncombe, director at Legal & General Mortgage Club; Anthony Rushworth, founder of Homegrown; David Torpey, managing director and chief operating officer at Bluestone Mortgages; Jonathan Samuels, chief executive at Octane Capital; David Hollingworth, associate director of communications at L&C Mortgages; D’mitri Zaprzala, head of sales at Octopus Property; Zachary Gauge, European real estate analyst at UBS Real Estate and Private Markets (REPM); Alistair McKee, managing director at One 77 Mortgages; The Guide Political Intelligence report; and HouseSimple.

eleanor.duncan@ft.com

In this guide

CPD
Approx.60min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. Mr Torpey describes London and the south east markets as being what, in terms of growth, over recent months?

  2. According to Mr Allen, there has been a move away from what type of projects, to higher density projects in the south east?

  3. Parts of which region are proving to be "property hotspots", according to Mr Allen?

  4. Is this statement by Mr Samuels true or false? In 2018, the narrative of a sideways-moving market with relatively high transaction levels and sellers in the driving seat is likely to continue.

  5. What does Mr McKee say is the other downside of going to your bank to get a mortgage?

  6. Mr Gosling identifies three regional business hubs as offering good growth prospects and affordable housing. Which is the odd one out?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Learn whether property supply is being affected by Brexit and is this means it is a buyers' market.
  • Understand how to find the right mortgage deal.
  • Comprehend what the long-term impact of the UK's departure from the EU will be on the property market.

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