Money Tips Daily By Charles Kelly, Former Ifa And Author Of Yes, Money Can Buy You Happiness.

Is Buy-to-Let Property Rent Control Law A Serious Threat To Landlords And Tenants? Landlords switching to holiday lets and SA (Serviced Accommodation) for less regulation and higher profits. Rent controls will drive private landlords away, reduce inventory and increase rents for tenants. World Banks say central bank interest rate hikes could cause a 2023 recession. US Mortgage Rates hit 14-year high as Pound falls to 37-year low against US Dollar. How will higher interest rates affect property prices, wider economy and stock market? Watch video on Charles Kelly Money Tips YouTube channel = https://youtu.be/BmskS4YkTg8 Higher interest rates increase the cost of money or borrowing and has the effect of slowing down economic growth, profits and ultimately stocks and share prices. Property prices are higher than a year ago, but the rate of price growth is slowing. Corporate insolvencies have jumped in England and Wales, as economic conditions and inflation start to hurt businesses. A bell weather company, FedEx,

Before I answer that question, what do you think? I’ve seen a lot of comments like this on social media and wanted to say a few words about one of her biggest contributions to the UK. Leaving aside her support for over 600 charities, and numerous civic duties and constitutional duties which saw her work but over 70 years until almost the day she died, the Queen has made one huge contribution to the UK economy: Tourism Watch video on Charles Kelly Money Tips Podcast YouTube- https://youtu.be/SjcFc3KQOgs The Queen and the royal family have attracted billions of pounds and millions of tourists over the years, and she’s still packing them in now. London is booming with visitors and hotels are full. When her coffin was being driven from Balmoral to Edinburgh, use cameras in a helicopter followed the procession for the entire six-hour journey. Viewers were treated to the glorious beauty of the Scottish Highlands, villages and then Edinburgh. You cannot buy that sort of publicity. Do you think Scotland will benefit

New Government, New King – What Will This Mean To Property Investors? 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? Watch videoversion - https://youtu.be/eLnQ2gDWq08 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 Liz Truss in borrowing over £100 billion to pump more money in to boost jobs and growth. · Massive infrastructure projects. · Energy bills capped. · Green levies halted. · Move away from obsession with everything going ‘green’? · HMO and SA landlords will be pleased to hear that bills are being capped. · Will we see any changes to renters reform or legislation on EPCs? · Mortgages are becoming more difficult to obtain and rates are going up. · Investors looking to the north for higher yields –

Energy Crisis - Government announce £150b package for bills to be capped at £2,500 for typical household 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. Watch videoversion on YouTube… https://youtu.be/0QN67xFYGN0 The huge support scheme could cost up to £150bn, although the total cost will depend on future wholesale fuel prices. The energy price cap - the maximum amount suppliers are allowed to charge households for every unit of energy - was due to leap to £3,549 in October, a move which would have caused widespread fuel poverty. Under the Liz Truss scheme, the government will compensate energy firms for the difference between the wholesale price for gas and electricity they pay and the amount they can charge customers. The governmen

Equity Release Lifetime Mortgages Explained By A Qualified Adviser How you can release or take capital from your home using a lifetime mortgage equity release scheme. Interview with Independent Equity Release expert, James Blair who explains the advantages pros and cons of drawing off capital from your home including: · How much can you borrow? · What are the interest rates? · Do you have to make repayments? · Is an equity release lifetime mortgage right for you? · What happens when you die or go into long-term care? Watch video - https://youtu.be/WGjhBSCTQvY If you would like to find out more about releasing equity from your home or arrange a consultation, message me. Check out my new training to help you get control of your financesand learn how to become financially free in 28 days! Click to join: https://bit.ly/3isugCr #Equityrelease #lifetime mortgage #freetraining #propertysecrets #money #banks #savemoney #buytoletinvestor #propertyinvestor #mortgages #secondincome #financialfreedom #economy #money #equ

London first time buyers will need an extra £34,500 of income on average due to rising interest rates · 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 to get a mortgage based on 4% interest rates · A whopping £34,500 extra is needed in the London market, but less than £5,000 in more affordable regions · Property interest among FTBs is up by 46% year on year as they drive the market from the bottom up. · More than half of their enquiries for three bedroom homes and an average price 10% higher than this time last year (£269,000). · FTBs are looking further afield in cheaper areas to buy a home, meaning less time spent saving up for a deposit. · Zoopla data shows t

UK Property Talk – Learn how the rich legally avoid billions in tax and protect their assets from HMRC 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 Contact details for Milan Patel at Customized Financial Solutions LinkedIn: https://www.linkedin.com/in/stampdutyreclaimlondon/ Facebook: https://www.facebook.com/customizedfinance/ Website: www.customizedfinancialsolutions.com House sales peak in July HMRC figures show but buyers are cautious More homes were sold in the UK in July than in any other month this year, official figures show, but agents say buyers are becoming more cautious. Obtain up to 14% yield on UK buy-to-let property. Auction Property Bargai

House sales peak in July as energy bills set to rise by 80% in October 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 occupation will still be eligible for these payments. See also: 100,000 Join ‘Don’t Pay’ group YouTube episode -  https://youtu.be/L2yOcmIFxDw The increased outgoings could also affect how much you will be able borrow to buy your home. Watch videoversion - https://youtu.be/IvzKs3n2C6U House sales peak in July HMRC figures show but buyers are cautious Following the recent Halifax report, official figures show that more homes were sold in the UK in July than in any other month this year, but agents report that buyers are showing more caution. Due to

7 Inflation Busting Tips As UK Inflation Hits 10.1%, A New 40-Year High, Food Costs Soar 14% And Wages Fall Behind Cost Of Living 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 rising faster than wages for the last decade. The Bank of England has predicted that inflation will peak at 13% this year – having previously claimed it was “temporary” and would start to fall this year – and admitted that the country was heading towards a recession. The price of energy, petrol and diesel costs are contributing to inflation, say the ONS, as well as staples such as bread, cereals, milk, cheese and eggs rising the fastest, while the cost of vegetables, meat and chocolate were also

UK House Prices FALL For First Time In Over A Year Say Halifax As UK Economy Shrinks In Second Quarter · 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 highest in Wales at 14.7% · UK Economy shrinks and heads into recession Average UK house prices dipped in July 2022 for the first time in a year, according to property market data from Halifax. Watch video version https://youtu.be/EAFwHV0VQWQ The lender’s house price index revealed that price growth slowed by 0.1%, or £365, month-on-month since June, valuing an average UK home at £293,221. The annual rate of house price growth eased to 11.8%, down from 12.5% last month. This month, separate house price data from the Nationwide building society and Zoopla also indicated a slight slowdown of the UK’s property market. Last week I reported that HMRC property transactions data for June shows there were 96,920 sales, on a non-seasonally adjusted basis, the

As energy bills 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 their direct debit mandate from October. Don’t damage your credit rating Things to remember before you cancel payment plans: · You have a contract · Energy companies can issue late payment notices to credit referencing agencies and forcibly enter your property to instal a pre-payment meter. · Risk of CCJ – County Court Judgement · Poor credit history can last for 6 years. · If you fall behind it will be difficult to catch up and pay the debt. Banks not passing on the last 5 interest rate rises to savers! See: video  - https://youtu.be/5Z1DVXkCcfo to see what can you do to make more of your savings. Make your money

Bank of England Raise Rates by 0.5%, as UK heads towards recession UK heading into recession say BoE, and Inflation set to hit 13% this Autumn Mortgage affordability rules relaxed by 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 year as the UK faces the biggest squeeze on living standards in 60 years. Property transactions are already down 55% on 2021 - https://youtu.be/Q4ycEfF7ER4 See: 6 Tips to get on the property ladder - https://youtu.be/F4spqKpYZo4 Learn how to get started as a first-time property buyer. 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 buyer

6 Tips To Get On The Property Ladder 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 people’s money. FREE TRAINING – BEGINNERS PROPERTY SECRETS This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up. Live training Wednesday at 7pm UK time. CLICK TO JOINTHE LIVE ONLINE EVENT https://bit.ly/3DlSlCL #property #property ladder #firsttimepropertybuyer

Property transactions down 55% on 2021, according to official figures. House prices may be rising but sales are slowing at an alarming rate. Years of artificially low interest rates have pushed millions of investors into buy-to-let property, where the can receive much higher income, as well as growth on their capital. 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 people’s money. FREE TRAINING – BEGINNERS PROPERTY SECRETS This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and b

Banks Ripping Off Customers, As Millions Move Money Into Property 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 transactions slowing according to official data. High Street UK banks, like Natwest, have failed to pass on several Bank of England base lending rate rises to millions of savers. Base rates have been steadily rising from a low of 0.10% in October 2021, which banks have not passed on to savers. At the same time, they are INCREASING interest rate for borrowers who owe money on their already expensive credit cards. NatWest has just announced a 2.5% increase on their credit card from 15.756 to 18.276, an effective increase of 15%. The current UK base lending rate is 1.25%. Credit card companies were charging similar rates when base rats were over 10%, which means they are profiteering from people’s misery. Meanwhile, banks leaving mi

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-certification mortgages that got lenders into trouble. Lenders such as northern rock decided to expand into commercial lending which was outside of their experience and comfort zone. Subprime lending, or giving mortgages to people with poor credit history, previous arrears and even bankruptcy, also cause massive problems for American investment banks who sold derivatives of these products as triple AAA security. The vast majority of the actual loans were still being paid in the UK. Lenders also branched out into buying up estate agencies and other businesses which was a big mistake since they paid far too much for these businesses

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. Overall, figures show that pay is falling behind the cost of living making the average person poorer. Mortgages rates have gone up by around 300%. Whilst most people are on fixed rates, those rates will eventually expire. The problem for borrowers at the lower income scale is that they may not qualify for certain rates due to affordability tests. Watch video on YouTube - https://youtu.be/aRpFGTJqlUE Who will be the next UK PM? I wish I could give a less gloomy outlook on the economy but it is not looking too rosy at the moment. One possible bright light on the horizon is the change of leadership and government in the U

With the cost of everything from fuel to building materials and appliances going through the roof, there’s never been a better time to try and find ways to save money. In this episode, I take you through four ways you can save money whether you are a property developer landlord or buy to let investor. 1. Get a good property tax accountant and save a fortune 2. Join discount purchasing clubs such as LNPG - https://www.lnpg.co.uk/ 3. Networking 4. 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 videoversion - https://youtu.be/CM22xqmh3Pg Get cheaper property and higher yields up north Obtain up to 14% yield on UK buy-to-let property. Auction Property Bargains From Open House South Herts 2 Bed House - £36,000 4 Bed Buy-to-Let Rented House £59,000 https://www.facebook.com/estateagentswatfordelstreeandborehamwood #economy #china #money #borisjohnson #rentalproperty #buytolet #investing #property #housepric

Big changes for the private rented sector, leaseholds and property adverts, as UK prices continue to rise 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 price - no longer “POA”. · Other changes that affect sales and lettings, including council tax bands. · Any information missing from a listing will be highlighted and potential buyers will be redirected to the agent. · Rightmove has also introduced new ‘tool tips’ and a glossary of terms. Other Updates · New Rules on unfair Leases and Ground rents · Boris announces plans to sell off Housing Association properties. · Lifelong mortgages. UK government’s ‘levelling up’ measures will involve letting agents directl

House prices hit a new high in June, according to Halifax, despite expectations the rising cost of living in the UK would slow demand. The UK’s biggest mortgage lender said the average house price reached £294,845 in June after rising by 1.8% - the steepest monthly increase since 2007. Halifax sighted a “lack of available homes” for sale was lifting prices as well as a shift towards people buying larger, detached homes, which rose by over 13% in the last year. But it expects price growth will slow, as interest rates rise and soaring prices hits people’s pocket harder this year. Petrol remains high and average household energy bills are set to exceed £3000 this year – a rise of nearly 300%! Northern Ireland saw the largest rise in house prices, with an increase of 15.2% in the year to June to take the average to £187,833. Wales also recorded sharp growth of 14.3% to £219,281. The average house price in Scotland also hit a new record, rising 9.9% over the year to £201,549, "breaking through £200,000 for the fir