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This week we saw Prime Minister Teresa May trigger Article 50, officially beginning the Brexit process after months of negotiation and back and forth between Parliament and the Supreme Court.
There has been much debate over the impact of Brexit on the property market, creating an air of uncertainty amongst UK investors. It’s been widely thought it will take a while for the true effects to be felt but it has certainly resulted in somewhat of a slowdown, particularly at the top end of the market.
Buyers will be sceptical of the terms of the exit, which are yet to be finalised, so we’re likely to see the period of uncertainty prolonged – for another two years, the official length of time it takes to leave the European Union (EU), and possibly beyond.
At Enness, our investor clients post-Brexit are falling into two camps; those wanting to take advantage of low-interest rates and improve their existing portfolios and those who are buying new investments with a long term view.
Whether you’re looking to release equity from an existing asset in order to add value, or need to move quickly to secure another, Enness can assist with your property financing requirements.
The uncertainty over what the future holds for the UK will lead to both first-time and experienced investors weighing up their options. With uncertainty comes opportunity and experienced investors will be taking this moment to further invest in a challenging market, with a view of it improving over the long term.
This is where bridging and short-term finance will be most valuable, enabling investors to seize these opportunities and make the most of the current property market conditions.
As a result, we anticipate a rise in demand for bridging finance, continuing its growth in the mainstream market.
Over the last year, Enness has expanded its offering with the launch of a specialist bridging and international division. This is a direct result of the evolving market and changing behaviours of investors. Investors no longer look just to the UK to expand their property portfolio, and they require a range of property finance, so we are on hand to guide you through your options now Britain has triggered Article 50.