It is still early days yet in the tenure of the UK’s new government. But there is an ever-increasing optimism that the UK property market will ‘open up’ in the coming months.
We are here to tell you that this could result in a higher level of property stock and with it more opportunities for yacht crew to take their first step onto the property ladder. Or maybe increase the size of their existing property portfolio!
What’s Happening?
Alongside this optimism is the hope and expectation of lower interest rates. This will be driven by mortgage lender appetite, the long-awaited reductions to the Bank of England Base Rate and the pricing of ‘swap rates’.
As ever, consumer confidence will play a large part in how quickly the property market opens up and how quickly the level of available housing stock for sale increases.
Thinking Of Buying Property In The UK?
It is for all these reasons, and more, that seeking early advice and guidance regarding property and mortgages is recommended to yacht crew who are thinking of a purchase in the near future.
We’ve been partnered with a mortgage broker for many years. They fully understand the challenges yacht crew face when buying a property in the UK and getting a mortgage.
They have vast experience and knowledge about yacht crew, seafarer mortgages. and being paid in a currency other than sterling. So their success rate is very high.
Getting advice and guidance from the mortgage broker at an early stage can prove to be a huge advantage. They can advise regarding the important aspects and considerations of buying property in the UK and getting a mortgage.
If you’re a CrewFO member, and would like further support, log in and reach out!
If you are not a member, below are our contact details:
Email us at: hello@crewfo.com 📧
Call us on: +44 203 538 8622 📲
At Crew Family Office, we are here to help Superyacht crew navigate their finances and make the right decisions.
For more of our financial services, designed for Superyacht crew, take a look here.