Money Tips Podcast

In a momentous week the UK has witnessed a new incoming Prime Minster, Liz Truss, new government and team, change of housing minister and a new Head of State, King Charles III. What does this mean for property investors? Key Takeaways: Queen’s death Bank of England delays base interest rate decision on 22 September. UK interest rates were predicted to rise to 2.25%. Economy still in trouble, but L...

The new UK Prime Minister, Liz Truss, has announced plans in the commons today to limit energy bill rises for all households for two years to help millions of people falling into hardship this winter. A typical household energy bill is to be capped at £2,500 annually until 2024. Businesses will receive support for six months. The huge support scheme could cost up to £150bn, although the total cost...

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  Sterling crisis could drive up interest rates First time buyers are the largest buyer group in the country but they’re about to be hit with higher interest rates. Here’s what’s happening and how you can offset the rising rates. Key takeaways First time buyers, the largest buyer group in the UK with nearly 177,000 transactions so far in 2022, will need an average of £12,250 more on their income t...

Following the Queen’s funeral, it is time to get back to the reality of the crisis we are facing in the UK. UK interest rates set to rise again this week by the biggest margin in 33 years, as pound slides against the US dollar. Sterling has fallen to a 37 year low against the US dollar, the reserve currency of the world.  This means that the UK is paying 15-20% more for imports, such as oil, on to...

UK regulator, OFCOM, has hiked the energy cap which means average UK household energy bills are set to rise by up to 80% from 1 October.  The Government has announced that all households in England, Scotland and Wales will receive £400 to help with rising fuel bills this autumn. The payment will appear as a credit on your energy bill. Landlords who include utility bills in houses in multiple occup...

Food costs are rising by over 14% which has helped push UK inflation into double digits for the first time since 1982.  Prices are now rising at their fastest rate for more than 40 years. Official inflation rates reach 10.1% in the 12 months to July, up from 9.4% in June, the Office for National Statistics (ONS) said. Soaring living costs are eating into family household budgets, with prices risin...

UK house prices suffer their first drop in a year according to figures compiled by Britain’s biggest lender. Average property worth £293,221 Annual growth strongest in Wales at 14.7% UK Economy shrinks and heads into recession Average UK house prices dipped slightly in July 2022 for the first time in over a year, according to property market data from Halifax, part of the Lloyds banking group. The...

Interview with Milan Patel of Customized Financial Solutions taking a holistic approach to tax including: Inheritance Tax Planning Wills and Trusts Company incorporation S.24 House prices have soared in the last few years, which means many of you will be paying unnecessary tax and passing on a huge tax burden to your children and grandchildren. Watch YouTube video - https://youtu.be/mo9ocdg7bQA Co...

As energy bills are predicated to reach £4,000 per household and campaigners like Martin Lewis call for government action to stave off a national crisis, 100,000 people are threatening to cancel their bank direct debit payments to companies like EDF and British Gas. A campaign group, dontpay.co.uk, has almost 100,000 signatures of people who say they will refuse to pay their energy bills or cancel...

The UK is heading into recession say BoE, and Inflation set to hit 13% this Autumn  Mortgage affordability rules relaxed by the Bank of England The Bank of England (BoE) has raised rates by 0.5 percentage points to 1.75%. The news marks the biggest UK interest rate rise in 27 years. This is the BoE’s latest attempt to calm soaring inflation levels, which are expected to reach 13% by the end of the...

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood A slowdown in the property market means more opportunities for buyers and investor! You can learn the secrets of professional property investors who have built huge portfolios with other...

In today’s Money Tips Podcast: Banks short-changing savers Investors turn to property for better returns Walmart issues profit warning as ordinary people in America struggle with cost-of-living crisis. Property prices are falling according to official figures. High Street UK banks, like Natwest, have failed to pass on several Bank of England base lending rate rises to millions of savers. Base rate...

Prior to the 2008 financial crash lenders were routinely giving out 100% and even 125% mortgages, self-certification mortgages with no income checks and up to 10 times income multiples.    This all changed after 2008 when several lenders went bust and the government had to bail out High Street banks in the UK such as Lloyds and RBS, which owned NatWest.   But it was not 100% or even self-certifica...

Inflation hits 9.4% and will peak at 11% in the autumn say the Bank of England, which has hinted at an imminent 0.5% interest rate rise.  The ECB have just increased interest rates by 0.5% to zero for the first time in over a decade. Rates have been negative since 2014. Public sector workers are threatening strikes, with unions complaining that a 5% pay rise will not keep pace with rising costs. ...

UK economy rebounded in my growing by 5% going to ONS figures.    Most areas of the economy expanded including construction, travel and manufacturing.    But business leaders are still concerned about the rising cost of raw materials, as well as fuel and gas. Inflation is set to hit 11% and is soaring around the world.     US inflation has hit 9.1% prompting fears of another interest rate rise by...

4 Tips to Save Money in Property Letting and Development   Get a good property tax accountant and save a fortune Join discount purchasing clubs such as LNPG - https://www.lnpg.co.uk/ Networking Shop around for lower cost management and letting fees   China’s economy contracts 2.5% while UK grew .5% last month   Where are property prices going?   Watch video version - https://youtu.be/CM22xqmh3Pg  ...

In this episode of UK Property Talk: UK property prices still rising despite global economic slowdown. Rightmove, the online property listing portal, confirms its compliance with new listing guidelines to include more information on each property. Rightmove portal details for properties will include:- Cost of any service charge and ground rent. Details of any shared ownership arrangement.  Sale pr...

Global stocks down amid war and recession fears, while household incomes are falling.  US stock markets have suffered the sharpest first-half slump in 50 years, with the S&P 500 down by 20.6% and the tech-heavy NASDAQ tumbling 30% in the last six months. London and Wall Street shares were down again this week as markets react to fears of a global downturn. On Thursday the FTSE was down nearly 2% a...

As the number of holiday let properties have increased by 40% in costal regions such as Norfolk, Devon and Cornwall, some English councils are proposing a ban, the BBC reports. Some tourist areas have become so saturated with AIRBNB holiday lets that locals are being squeezed out and can no longer afford to rent or buy in the area.  A resident in Scarborough complained that almost every house in h...

Rail unions strike for higher pay and better working conditions. More industrial action on the way threatening to stall the economic recover and drive the country into recession. The US and China, the world’s two biggest economies are also stalling, and Germany is facing gas rationing. Inflation is at a 40-year high forcing central banks to raise interest rates pushing up the cost of borrowing for...

UK PROPERTY TALK   Key things to consider when buying or selling at auction:   Do you know the difference between buying at auction and buying through the traditional private treaty method that most people use in traditional estate agencies?   Are you buying through traditional or modern auction?   Have you done ALL your homework and survey checks before the auction?   Have you got your finance in...

UK base interest rates have increased from 1% to 1.25%, the fifth consecutive rise, to reach the highest level in 13 years. In America, the Fed went further raising rates by .75% to a target range of 1.5-1.75 percent and forecasts a 3.25-3.5 percent fed funds rate by year-end. It comes as finances are being squeezed by the rising cost of living, driven by record fuel and energy prices. Inflation -...

Apple will launch a new ‘buy now pay later service’ (BNPL) scheme in the US to spread the cost of purchases over four to six weeks. The BBC reported last December that over 15 million people in the UK are already using BNPL services run by the likes of Klarna, Clearpay, Laybuy and PayPal. Challenge to traditional; banks. Citizens Advice reported concerns that 12 million adults are using BNPL servi...