Rise in mortgage demands leads to new director role at Worldwide
INCREASES in demands for mortgages in Northern Ireland has led to Worldwide Financial Planning appointing a new mortgage director to head up its mortgage department.
The firm, headed by Irish News columnist Peter McGahan, first announced its expansion plans last year and has been growing its team across its offices in Northern Ireland, Cornwall and Southampton ever since.
Pat Greene, a married father of two from Co Armagh and former face and voice of the Bank of Ireland NI mortgage campaign, said he's delighted with his new role, which comes at a crucial time when the mortgage market is vibrant due to the continuing rise in house prices which is leading to more mortgage applications being written by the firm.
He said: “House prices have continued to rise in Northern Ireland – increasing by 10 per cent in the last year - and demand is simply outstripping the supply for houses.
“Lenders' interest rates, while continuing to go upward in trend, are still competitively priced especially if someone is in the position to put more than a 10 per cent deposit towards their purchase.
“According to the Northern Ireland Statistics and Research Agency, the average house price in Northern Ireland is now £164,590. This means no stamp duty for first time buyers, so this is further fuelling demand.
“Lenders in the market are still keen for new business, and, depending on affordability and customer credit history, they are willing to assist most customers which is great news for people seeking to get onto the property ladder and for those looking to upsize.
“This is an exciting new challenge for me and for the firm and I look forward to guiding people on their journey in what could be their biggest single purchase in their lifetime.”
Worldwide Financial Planning chief executive Peter McGahan said: “We're delighted to welcome Pat as our mortgage director. His background in this field is extensive and his values very much match the values of our firm.
“We announced our expansion plans late last year and since then we have recruited staff here in Northern Ireland and for our offices in Cornwall and Southampton.
“We will continue to grow our business, and having Pat to head up our mortgages is a great step forward for Worldwide.”