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Impact of cooling London housing market on broker business? – poll result

by: Paul Robertson
  • 17/10/2014
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Impact of cooling London housing market on broker business? – poll result
London mortgage intermediaries are divided over the impact the calming of the Capital’s housing market is having on its mortgage advisers.

This week Mortgage Solutions highlighted RICS and Council of Mortgage Lender figures, which both confirm the housing and mortgage markets are settling a little after the frenzied first half of the year in London.

Readers were asked “Is this likely to dampen activity in the broker market or will other factors continue to support the advice channel?”

The result was a 50:50 split between those answering “No. The broker market can only grow” and “Yes. Activity is already slowing”.

The result may reflect a polarising of the London adviser market by value.

Jonathan Harris, director of London mortgage broker Anderson Harris, said: “The top end of the London market – and certainly in the £2m-£3m space – is definitely taking a breath as buyers wait to see what the outcome of the general election is and whether there will be a mansion tax.

“The mainstream market is still fairly brisk with plenty of buying opportunities for those confident enough to take the plunge and some record low mortgage rates to tempt them.”

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