Press comment: Help to buy numbers encouraging

But buyers need to think longterm


Gemma Harle - Press Releases

Managing Director – Mortgage Network

16 August 2018

If you’re covering the recent figures on help to buy please see the following comment from Gemma Harle, Managing Director of Intrinsic’s Mortgage Network. Gemma notes that while the numbers are encouraging those who use the scheme need to be conscious of the long term implications.

Gemma says:

“More than 420,000 people have now used the government’s Help to Buy scheme, an encouraging figure given the increasing challenge for younger generations looking to get on the housing ladder. The average first time buyer in London had to save 109% more in January than the English average, according to figures from the Office for National Statistics. This is despite London prices growing 2.1% year on year, compared to the English average of 4.4%.

“Those who utilize Help to Buy need to think about the long term implications. Only some lenders accept a remortgage application from Help to Buy borrowers looking to switch from another lender, limiting the options of homeowners looking to reduce their monthly outgoings.

“Having a financial plan in place is crucial and getting professional financial advice and guidance can help the prospective first time buyers think through the options available to them and what these options mean in years to come.”

For more information contact

Kathleen Gallagher
02380 726293
07990 004932

Notes to editors

Intrinsic is part of Quilter plc, a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

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 £116.5 billion in customer investments (as at 30 June 2018).

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: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

  • The Multi-asset business is now Quilter Investors
  • Intrinsic to Quilter Financial Planning
  • The private client advisers business is now Quilter Private Client Advisers
  • The UK Platform to Quilter Wealth Solutions
  • The International business to Quilter International
  • The Heritage life assurance business to Quilter Life Assurance
  • Quilter Cheviot will retain its name

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