CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Referendum result response - Eddie Goldsmith, The Conveyancing Association
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Referendum result response - Eddie Goldsmith, The Conveyancing Association PDF Print E-mail
Friday, 24 June 2016
“At the June meeting of the Conveyancing Association there was overwhelming support to remain in the EU. This was based on the need for stability in the economy which feeds through to the housing market. Borrowers who are looking to make the biggest financial decision of their lives want to see and feel that nothing is likely to risk their jobs or increase their mortgage payments . 

“A Vote for Leave unfortunately creates that type of uncertainty because the eventual result of the negotiations, and the UK’s economic position in this new world, are (at the moment) unknowable. There is therefore likely to be a period of nervousness in the housing/mortgage markets which could last for a number of months – for instance, we could see a reduction in housing transaction numbers until consumers/borrowers are more certain of what the position is.

“However, once this has settled down, I anticipate the market picking up again later in the year. People will still need to move, lenders will still need to lend and with mortgage pricing remaining highly competitive this could actually prove to be a good buyer’s market. With the ball being in the buyer’s court we may well see some hard negotiation on prices resulting in a short-term fall. In terms of Bank Base Rate I suspect it will stay the same for the immediate future however the Bank of England MPC does have the option to cut it further later in the year should it feel the need to stimulate the economy.

“As always the housing market across the UK is different, region to region. The London market, for instance, may well gain a significant short-term boost because of the weak pound although I suspect foreign investors will also want to wait to see how the market plays out. Across the rest of the country it is difficult to predict how the market will change but it will undoubtedly have to adapt.

“In all there is likely to be a little short-term pain because of increased uncertainty – the extent of this is however dependent on any number of variables. What we should however guard against is media sensationalism creating widespread panic which effectively talks us into another recession; instead, with the vote being what it is, the powers that be have to bring as much stability and certainty to the overall economy and the markets as possible to make sure the predictions of doom do not come to fruition.”
 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197