UP-MARKET mortgage broker Savills is optimistic its new Liverpool office will be successful despite the property crisis.
The company has opened for business in the city at a time when mortgage business is contracting. Savills itself yesterday announced residential sales in London had slumped by 45%.
But former professional footballer Matt Carragher, heading up Savill’s Liverpool operation, said: “I’m confident there’s plenty of business to be done in Liverpool, especially at the top end of the market.
“For a lot of people with big mortgages, this is exactly the time they need advice on how to reduce costs and as the premier player in this market we are in a position to offer deals the high street banks can’t match.”
Savills can also obtain mortgages from private banks at any level, unlike high street banks which have capped borrowing. The Mer- seysider plied his trade at football clubs including Port Vale and Macclesfield before hanging up his boots to become a financial adviser.
He added: “Since Savills Private Finance first opened in Manchester, in July, 2000, the company has tried to service the Liverpool market remotely with mixed results.
“We felt that the time was right to really give it a go. There is great potential for growth in Liverpool and the city is currently under-represented in terms of professional expertise. We are determined to make SPF the number one high-net-worth mortgage brokerage in Liverpool.
“While it is harder to obtain mortgage finance, it is not impossible. Independent mortgage advice that is tailored to individual circumstances is vital.
“With fewer products available, it is essential that borrowers search the whole of the market using an independent broker to ensure they get the right deal for their circumstances.”
SPF also has access to the private banks which are still demonstrating an appetite to lend to the right applicants at competitive rates.
SAVILLS reported a 45% drop in London sales and said the market downturn had begun to impact on prime country properties.
Savills said prices were being adjusted downwards by about 7.5% in central London, with only the “very top end” of the property market, where values exceed £5m, proving “relatively immune” to the downturn.
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