Sherwins is an award winning mortgage consultancy which specialises in mortgages for the Affordable Homes market, usually promoted through Housing Associations via Shared Ownership, Homebuy and Key Worker Living schemes.
SPF currently operates in the high net worth sector from three central London locations and a further 12 offices located throughout the UK, but is widening its reach to help address the escalating crisis among first-time buyers who are priced out of the market as massive rises in property prices have continued to outstrip salaries.
SFS believes there is tremendous synergy between the high net worth sector and the Affordable Homes market in that both require a full, flexible, face-to-face advice service.
The number of first-time buyers entering the housing market is at its lowest level since records began. Just 359,000 took their first step on the housing ladder last year, compared to 527,000 in 2002, according to latest figures from the Halifax.
Mark Harris, Managing Director of SPF, says:
“This is a topic which is firmly on the political agenda as the Government now realises there is a big problem and has introduced several schemes to make it possible for tens of thousands to own their home. There is a strong political commitment to build new homes in the affordable market and often a large percentage of new build sites have designated affordable homes.
“We recognise this is a highly specialist area - unlike many other brokers who think they can target this critical area with mainstream mortgage advisers. But lending criteria is very different, as is the need to understand the various criteria set by the Housing Associations. With Sherwins’ specialist knowledge combined with SPF’s buying power with lenders – SPF will arrange in excess of £2.5bn of debt in 2004 – and our systems and infrastructure, we will be able to create exclusive products and services for this growing sector of the market currently not widely available.”
Richard Stone, Head of the newly created SPF Sherwins, who has 16 years experience in the Affordable Housing sector, comments:
“Sherwins has traditionally focused on the South East but following the acquisition by SPF the operation will be expanded nationally, building on our existing links with Housing Associations and taking advantage of links with those Housing Associations currently advised by the Savills Group. This deal creates diversity and brings stronger levels of service to a key sector which is good news for Housing Associations and the consumer.”
