I’ve already sent my ‘please can I have an Aston Martin / dinner with Kelly Brook / holiday in the Caribbean’ request letter, but there’s still time for a ‘make the mortgage market merrier’ letter. So here goes.........
Dear Santa,
The UK mortgage market hasn’t exactly been a bundle of fun during 2012. Application volumes have continued to wallow in the doldrums and first-time buyers are still struggling to get a foot on the first rung of the housing ladder.
So could you please see what you can do to make 2013 a bit more fun for us all. In particular could you:
1) Ensure interest rates remain low, whilst at the same time preventing inflation from creeping upwards yet again.
2) Do what you can to get the economy growing. I realise the economy isn’t going to suddenly take off like Rudolph on Christmas Eve, but some economic forward motion would be good news for all.
3) Give consumers a bit more job security and confidence in the economy, so that they feel able to spend more money - ideally on housing!
4) Stop the rot in the Eurozone and try to ensure that the economic mayhem in Greece, Italy, Spain, Portugal and Ireland doesn’t drag the UK down same slippery path to ruin.
5) Stop politicians and regulators meddling unnecessarily and give the market a fighting chance to get back on its feet. We’ve had a decade of new regulations and white papers. It’s now time for some common sense.
6) Do what you can to dissuade the Chancellor from taxing homeowners too harshly. It’s tough enough buying a house without needing to worry about stamp duty and 20% VAT.
7) Stabilise UK house prices. We don’t need - or want - a return to double-digit growth rates, but neither does it do consumer confidence much good if they keep reading about house prices falls in different regions of the country.
8) Encourage house builders to construct more new housing, but preferably not on flood plains!
9) Give brokers the recognition they deserve and encourage homeowners to consult a professional financial adviser when they start looking for a mortgage.
10) Make Aldermore the first port of call for all those seeking a mortgage. OK, so I’m just being plain greedy now............but there’s no harm in wishing, is there?!
Yours very hopefully and appreciatively,
Rob Barnard
