Trump's Victory Could Positively Impact UK Housing Market: SLE
Donald Trump’s recent presidential election win may have a positive influence on the UK housing market, according to experts at the Specialist Lending Expo.
Steve Cox, Chief Commercial Officer at Fleet Mortgages, highlighted the significance of US investments in the UK, especially in securitised markets. “From a housing market perspective, it’s important to remember there’s a lot of US money in our system,” said Cox. “Before Fleet was acquired by Starling Bank, we were mainly funded by Citi Bank, one of the world’s largest financial institutions.”
He emphasized that a strong US economy could drive more capital into the UK, benefiting specialist lending sectors. “It’s good news for our customers and everyone in this room,” Cox noted, adding that the US economy is currently in “reasonably good shape and has been growing.”
However, Cox also acknowledged potential challenges, such as tariff threats and comments about NATO contributions, noting, “We don’t fully understand their implications yet.”
Trump’s campaign included pledges to impose tariffs on European imports, especially in the automotive sector, and up to 60% on some Chinese goods. Earlier this month, Goldman Sachs revised its forecast for UK economic growth down to 1.4% for next year, with expectations of continued stagnation through 2026.
David Whittaker, CEO of Keystone Property Finance, also provided insights, calling Trump “incredibly transactional.” Whittaker pointed out that Trump is already pushing for Senate approval of his appointees, despite his term starting on January 20.
“Whether we agree with it or not, it’s the choice of the American people, and we have to respect it,” Whittaker said. “With Trump, we’re starting at a fast pace. Whatever happens, it will affect the UK. When America sneezes, the UK catches a cold.”
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