Finally a positive property RUclipsr that’s bang on right! Acquisition is key guys. If your able to buy, then buy it! Those who have adapted to all new government legislation like sec.24, will be on high ground when interest rates start creeping down. Rents won’t!
Thanks for your kind words! And you’re right, unfortunately for a lot of people rents aren’t going down but interest rates will. The market sets a president and we have to keep with it 👌🏼
@@jonnymarsden not sure when you expect rates to go down, if anything they'll increase which is what I expect they'll announce in November. Looking over the past 48 years of interest rates on the BoE website we're still at quite a very low rate now. Infact interest rates used to be as high as 17%.
@@MarKeMu125 I’ve recently seen mortgage rates go down and this followed the BOE bringing their rates down. They may well go up again as you’ve mentioned, but wouldn’t you expect them to settle at a lower rate than what we are at now? Not at those beautiful 2.19% rates we had a few years back though 🤣
@@jonnymarsden BoE hasn't brought their rates down, and will be a long time until they do. They just didn't raise them this month. Although, it's true that swap rates have gone down which make mortgages cheaper (for now). It's expected that they'll be another 0.25~0.75% BoE rise in this FT cycle. Now might be a good time to buy if you can get a bargain but even then it'll likely leave you in negative equity, and certainly be a poor investment when stacked against inflation. Accounting for inflation we might never see house prices achieve the same prices we did last year as with the UKs falling population & productivity the demand for housing long term will decline, leading to more of a Japanese style market. Also, Savills announced 70%+ LTV BTL's are unprofitable and I doubt we'll see a bounce in profitability like we did in 2008 due to several factors, tax changes being one of them.
@@MarKeMu125 of course they haven't, my mistake! Thanks for pointing out my error. Well would you not agree that it depends on how you structure the purchase, where you buy and how long you plan on keeping the property for? And assuming that house prices topped out last year goes against 100's of years of evidence in property prices increasing. Additionally the demand for housing is never met year on year, so even with a decrease in our population we'll likely still struggle to hit government quota's. Perhaps we will become dependant more so on on immigration to raise the population?
Such valuable information 🙌 keep the videos coming!
Thanks Sophie! Glad you took something from it!
Spot on! Thank you mate 👍🏻
My pleasure! Glad it helped mate 👌🏼
Finally a positive property RUclipsr that’s bang on right! Acquisition is key guys. If your able to buy, then buy it! Those who have adapted to all new government legislation like sec.24, will be on high ground when interest rates start creeping down. Rents won’t!
Thanks for your kind words! And you’re right, unfortunately for a lot of people rents aren’t going down but interest rates will. The market sets a president and we have to keep with it 👌🏼
@@jonnymarsden not sure when you expect rates to go down, if anything they'll increase which is what I expect they'll announce in November.
Looking over the past 48 years of interest rates on the BoE website we're still at quite a very low rate now. Infact interest rates used to be as high as 17%.
@@MarKeMu125 I’ve recently seen mortgage rates go down and this followed the BOE bringing their rates down. They may well go up again as you’ve mentioned, but wouldn’t you expect them to settle at a lower rate than what we are at now? Not at those beautiful 2.19% rates we had a few years back though 🤣
@@jonnymarsden BoE hasn't brought their rates down, and will be a long time until they do. They just didn't raise them this month.
Although, it's true that swap rates have gone down which make mortgages cheaper (for now).
It's expected that they'll be another 0.25~0.75% BoE rise in this FT cycle. Now might be a good time to buy if you can get a bargain but even then it'll likely leave you in negative equity, and certainly be a poor investment when stacked against inflation. Accounting for inflation we might never see house prices achieve the same prices we did last year as with the UKs falling population & productivity the demand for housing long term will decline, leading to more of a Japanese style market.
Also, Savills announced 70%+ LTV BTL's are unprofitable and I doubt we'll see a bounce in profitability like we did in 2008 due to several factors, tax changes being one of them.
@@MarKeMu125 of course they haven't, my mistake! Thanks for pointing out my error.
Well would you not agree that it depends on how you structure the purchase, where you buy and how long you plan on keeping the property for? And assuming that house prices topped out last year goes against 100's of years of evidence in property prices increasing. Additionally the demand for housing is never met year on year, so even with a decrease in our population we'll likely still struggle to hit government quota's. Perhaps we will become dependant more so on on immigration to raise the population?