PRESS COVERAGE
BoE hikes interest rate to 4% — industry reacts
'The peak is approaching' - that was Anderson Harris's cautious read for Bridging and Commercial as the Bank of England raised the base rate to 4% for the first time since 2008. Adrian Anderson acknowledged the cumulative impact of ten consecutive rises for variable rate borrowers, while offering a tentative assessment that the most acute phase of the tightening cycle was nearing its end. He urged borrowers to plan around a range of scenarios given how consistently difficult rate forecasting had proved throughout 2022.
Extract Published - 2nd February 2023
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Property industry reacts to tax cuts in mini-budget
The September 2022 mini-Budget's unfunded tax cuts sent shockwaves through the gilt market, and Adrian Anderson's reaction for Bridging and Commercial captured the contradictions facing mortgage borrowers in real time. He welcomed the stamp duty reduction as buyer-friendly in isolation while warning that the market's response was already forcing lenders to reprice fixed-rate mortgages sharply higher. The two announcements, he argued, were pulling in opposite directions - one helping buyers afford a property, the other increasing what they'd pay to borrow for it.
Extract Published - 23rd September 2022