fbpx

Brokers claim a hung Parliament would be the worst outcome for the market

Michael Lloyd

December 9, 2019

A hung Parliament would be the worst outcome of the General Election for the market, brokers have claimed.

The General Election is Thursday 12 December.

Martin Stewart, director of The Money Group, said: “I think the best outcome will be a majority for someone, anyone, even Lord Such if he was still around. The worst outcome will be another hung Parliament where nothing gets done.

“Unfortunately, the latter seems possible and I wouldn’t be trusting any poll I read.

“Millions will be entering the voting booths still undecided about who to vote for.

“We used to talk about floating voters, but we have now escalated that to having floating demographics. It is all on its head and I’m sticking mine in the sand until all this is over!”

Michael Lawlor, business principal of Mortgage Advice Bureau in Finchley, added: “A strong Conservative government would be great for our industry and our business. I think they’ll win but by quite a small majority.

“A hung Parliament would be quite negative because we’d have a lot more of what we don’t want, which is uncertainty!

“I’m looking for a strong outcome for the Conservatives which would restore continence.

“People have a await and see attitude and we want some certainty and for people to start buying again.”

Adrian Knott, broker and owner of AK Partnership, agreed and said a Conservative government would be best for the property market.

He said: “A hung Parliament would be a nightmare, it would lead to further stagnation which is not helpful to the mortgage market.

“A Tory government is highly likely and with a decent majority everyone can get on with their lives and the housing market can make a big leap in the Spring.

“It would be a wonderful situation. A Labour government would be a disaster to the property market.

“The only way forward is a Tory majority which would be very good. I predict a majority a Tory government with a majority of 25 to 30 seats.”

Meanwhile Hemat Natha, director of Mortgage Advice Point, said that brokers just have to adapt to whatever happens.

He added: “I think you just have to ride the wave and be adaptable to the climate and economy and make sure you’re able to diversify and do a full range of product sets.

“It’s just making sure you’re capable of handling the full spectrum of sectors, like gearing up for later life and specialist mortgages and taking those enquiries forward.

“Having a diverse range of products allows you to keep going. You should always prepare for the worst.”


Sign up to our daily email