For more information contact
If you are covering the UK House Price Index for May, please see the following comment from Gemma Harle, managing director of Quilter Financial Planning’s mortgage network:
The UK’s House Price index for May released today tells much the same story as recent months; people are simply keeping their hands in their pockets to see how Brexit turns out with UK house prices only growing by a sluggish 1.2% in the year to May 2019.
The strength of the remortgaging market is a good illustration of this. According to UK Finance remortgaging rates are at their highest for a decade and figures show that remortgages jumped 20% in May compared to the previous year. This is likely down to people deciding to stay put and lock into new deals while interest rates are still at historical lows. This is a trend that we can expect to see a continuation of until we get certainty over Britain’s relationship with the EU and we know who the next prime minister is and understand their approach to housing.
Drilling down into the numbers further, you can see that the London bubble continues to deflate after years of growth. Despite this drop, first time buyers in the capital still face an uphill struggle to get a set of keys to their first home. Such vast differences in the cost of a home for this group will start to take its toll on London’s skilled workers moving forward.
One good way for the government to stoke the property market and address the problem of ‘generation rent’ is to enact policies which incentivise downsizing. Such a policy might free up existing housing further down the chain and give first-time buyers a better chance of getting their first foot on the housing ladder.
Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.
Quilter plc oversees £110.4 billion in customer investments (as at 31 December 2019).
It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.
The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.
Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.
Wealth Platforms includes Old Mutual Wealth UK platform and Old Mutual International, including AAM Advisory in Singapore.
The Old Mutual Wealth Heritage life assurance business was acquired by ReAssure Group Plc on 2 January 2020.
Since its IPO in June 2018, Quilter plc’s businesses have progressively rebranded to Quilter, as follows:
This press release is for journalists only and should not be relied upon by financial advisers or customers.
Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.
This communication is issued by Quilter plc. Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270. Registered in England.
This announcement may contain certain forward-looking statements with respect to certain Quilter plc’s plans and its current goals and expectations relating to its future financial condition, performance and results.
By their nature, all forward-looking statements involve risk and uncertainty because they relate to future events and circumstances which are beyond Quilter plc’s control including amongst other things, international and global economic and business conditions, market related risks such as fluctuations in interest rates and exchange rates, the policies and actions of regulatory authorities, the impact of competition, inflation, deflation, the timing and impact of other uncertainties of future acquisitions or combinations within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which Quilter plc and its affiliates operate. As a result, Quilter plc’s actual future financial condition, performance and results may differ materially from the plans, goals and expectations set forth in Quilter plc’s forward looking statements.
Quilter plc undertakes no obligation to update the forward-looking statements contained in this announcement or any other forward-looking statements it may make.
Nothing in this announcement should be construed as a profit forecast.