finova Payment Services comment on the General Election results

05 July 2024

Please find below, a comment on the General Election results from Matt Harrison at finova Payment Services.

Matt Harrison, Sales Director at finova Payment Services (fPMS) commented: “If handled right Labour’s landslide victory could boost lender confidence in the housing market. Their manifesto promises significant investments in housing and measures to increase supply, which could lower borrowing costs and create a more stable market. But it’s no secret that new governments have consistently fallen short on housing pledges, and Labour's proposed mortgage guarantee is estimated to help only 5% of first-time buyers annually. It will be interesting to see if they can deliver on these plans to revive the spluttering housing market.

“At finova Payment Services, our focus remains on supporting buyers with consistent guidance in these changing times.”