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Fleet Mortgages comment on the General Election PDF Print E-mail
Friday, 08 May 2015

Bob Young, Chief Executive Officer of Fleet Mortgages, comments on the General Election:

“There are clearly a number of positives for the housing and mortgage market from this Conservative Party victory, not least the fact that the Tories tend to be far less interventionist than the Labour Party which means they are unlikely to meddle in the housing market, particularly the private rental sector.

“We are all acutely aware of the overwhelming need to build more houses in the UK, however the problem may be a lack of materials and manpower – many thousands of construction workers exited the industry back in 2008 and haven’t been replaced. Therefore the promises of more housing supply, especially those made by the Labour Party during the campaign, were simply not achievable.

“The capital markets will be positive about the result because of the stability provided and this is likely to hold firm at least until we’re faced with the EU referendum. Perhaps more importantly though, I think the fact a Government majority has been achieved will provide a real boost of confidence to the UK populous – which admittedly is hard to measure but critical to a nation’s success – and that will be very good overall for our country.”

(Source - Fleet Mortgages Comment)

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