Building firm credits mortgage market for increased sales

July 20, 2015 by Brendan O'Neill

Property Market

Building company Barratt Developments has said that the increased sales they have seen are partly down to the battle between lenders to secure the largest share of the market.

They have said that because of the competition between the big mortgage lenders, they have seen an increase in house prices and volume of sales.

The company was started by property mogul Sir Lawrie Barratt, and they recently revealed that their sales for the year were up more than 10%. With selling prices now averaging over £230,000, their pre-tax profits were boosted by almost 50%.

The company’s chief executive David Thomas said:

“The housing market has remained strong and our operating performance has been very good. With good demand for new homes across all our six operating regions, we have focused on maximising sales, while driving financial performance.”

He added that with the continued positivity within the lending market, increased competition and new entrants to the market, customers were continuing to see record low rates.

As they have seen ongoing success, it is likely that Barratt Homes will look at increasing their workforce by over 2,000 people as the business carries on thriving.

Working in the mortgage industry, as a qualified adviser after passing your CeMAP course, you will often be the first port of call for someone looking to purchase a house. You will responsible for conducting a thorough assessment of their income and outgoings in order to make a decision as to how much they can borrow and best advise them on the rates and repayments.