In this week’s Money Tips Podcast: Silver reaches 14 year high amid global economic slowdown, wars and Trump tariffs. Silver to Gold ratio narrows as nations like Turkey, China and India hoard more Gold. Gold overtakes the Euro as preferred reserve currency. Should you hold gold and silver as part of your portfolio? To learn more Check out my SMART MONEY COURSE - https://bit.ly/4klq0mv  World Bank forecast lowest growth rate for the decade since 1960s. Rachel Reeves on massive spending spree, while business confidence and jobs plummet. Where is she going to get the money from? Taxpayers and businesses, us! UK economy declined in April, as growth stagnates. Job vacancies and recruitment falling, as higher taxes drive business away.  See Smart Money Is Moving East – Is the UK Finished? - https://youtu.be/_5jK8oHuj8o What can you do to secure your financial future in this changing world?  Could Japan’s debt crisis cause a worldwide recession? The more money I made the less I had. Al Pacino, legendary Hollywood actor Despite earning millions from hit movies such as The Godfather trilogy, Scarface and The Scent of a Woman, Al Pacino was almost broke TWICE at the height of his fame and fortune. Living “high on the hog”, spending $3-400,000 per MONTH! Flying private jets and renting a huge house in Beverley Hills for 20 years! He once flew his family and nannies on a private Gulfstream 500 to London and took an entire floor at the Dorchester. He left his finances in the hands of a crooked accountant to the celebrities, who was later sentenced to seven years in jail for running a Ponzi scheme. Pacino loved acting but admits that he was not paying attention to his finances and failed to invest. In his book, Sonny Boy, he said, “I would give money away because I had it” and “it didn’t feel real, but it was, as I later found out”. “The amount of money I was spending was so f****** crazy, a montage of loss” the Godfather star added.  Pacino said when you make $10 million dollars for a movie you don’t get $10 million dollars. After lawyers, agents and the government take their share you end up with around $4 million. His living expenses alone were at least that amount before he put his own cash into arthouse films which made no money and in many cases were not even distributed.  Things were out of control as his staff and expenses expanded. He owned two cars, but was paying for sixteen, along with multiple cell phones, salaries and a $400,000 a year for a landscaper on a house he didn’t even own! The list goes on and the star wasn’t even signing his own cheques and his money was draining out faster than a leaking pipe. Hangers on took advantage of Pacino’s generosity as his staff and expenses eventually grew beyond his means.  He said, the more money he made the less he had! What can we learn from Pacino’s mistakes? You don’t have to be a movie star to experience the same issues. Managing your money is important whether you’re making $100,000 a year or $100 million! Check out my SMART MONEY COURSE - https://bit.ly/4klq0mv  What can you do? As Warren Buffett said, financial education is the key to building wealth. It’s the stuff they don’t teach you in school.  Learn how to build and protect wealth. Learn how to manage your money. Learn how to invest in assets rather than losing money by lending it to the banks.  Learn about the invisible taxes like inflation which is eating up your savings.  Learn about Gold and Silver, the only real money. Property Stocks and Shares I teach this and much more in my SMART MONEY COURSE – check out the link below: Join my SMART MONEY COURSE - - https://bit.ly/4klq0mv #GlobalPowerShift, #UKEconomy #BritainInDecline, #MoneyTipsPodcast, #SmartInvesting2025 #gold #silver #goldsilverratio #japandebtcrisis #globalrecession

The Global Power Shift has begun – The East Has a plan has UK lost the plot? As the West fumbles with political chaos, rising debt, and short-term thinking, the East powers ahead with vision and purpose. Countries like China, Malaysia, and the UAE are investing in infrastructure, education, and long-term strategy—while the UK seems stuck in a loop of tax hikes, red tape, and broken systems.  In this episode, I explore how global power is shifting fast—and why investors, entrepreneurs, and even families are looking East for opportunities, stability, and growth. What can you do to secure your financial future in this changing world? Has Britain lost the plot? Let’s find out. Watch full video at Charles Kelly Money Tips Podcast - https://youtu.be/_5jK8oHuj8o China’s multi-billion dollar ‘Belt and Road Initiative’ project is linking three quarters of the world’s countries - 150 nations through Road and Maritime former silk routes.  Linking countries like Malaysia, Thailand, Cambodia, Laos, Pakistan, Uzbekistan, Kazakhstan and more.  They are building it, not talking about it for 30 years like we do in the UK. Successive governments have been debating expanding London’s Heathrow Airport by one runway since the Beatles were together.  Take That and Taylor Swift were not even born!  Rail links across Laos and Cambodia to China allow farmers to deliver produce to the vast Chinese market in 6 days. Trade has exploded in SE Asia from car manufacturing, industry to education and agriculture. What can you do to secure your financial future in this changing world?  Check out my SMART MONEY COURSE - https://bit.ly/4klq0mv  As China expands its influence, where do you think countries in Southeast Asia and the Middle East will look to for its future? America or China?  Who do they see as their friend when China is building trading links while America is ‘weaponizing’ the dollar and telling them what to do? Why are more countries applying to join BRICS? Chinese overtook the US as Africa’s largest trading partner in 2009. The West (Europe and America) has been asleep at the wheel for decades.  UK previously had strong links with African nations, (many of whom were given Independence after the Second World War as the empire declined), through the commonwealth. But with all due respect to the Royal Family, wheeling out the Queen to wave at the crowds every few years is not enough.  China is running rings around the west.  Unlike western democracies who can only plan as far as the next election, China has a long term vision and strategy.  Look what’s happening in the Middle East in countries like Dubai, Qatar and Saudi which are all embarking on massive multibillion-dollar projects to reinvest their oil wealth for their future. They also attracting the brightest and the best entrepreneurs, engineers, scientists and IT people, while the UK is taxing them out of existence.  New World Order?  What do you think? China and many other Southeast Asian countries have a plan. The Middle East has a plan. What is the UK’s plan? Tax and spend our money! Tax and spend our savings! Tax and spend our pensions! (Rachel Reeves is doing a Gordon Brown tax raid on pensions.  He bankrupted Britain). Tax business and landlords Tax jobs and employment Tax motorists Tax parents who send their children to private schools! The government is coming after YOUR money! They have already borrowed billions and can’t afford to fund their fantasy schemes.  Where is the big thinking and long term vision? Where is the growth, green energy? Really? While they lurch from one crisis to the next, smart people, educated professionals, businesses and entrepreneurs are leaving the UK to go where they are appreciated. Have any of the top ministers ever run a large business? I wouldn’t trust them with a market stall? What can you do? As Warren Buffett said, financial education is the key to building wealth. It’s the stuff they don’t teach you in school.  Learn how to build and protect wealth. Learn how to manage your money. Learn how to invest in assets rather than losing money by lending it to the banks.  Learn about the invisible taxes like inflation which is eating up your savings.  Learn about Gold and Silver, the only real money. Property Stocks and Shares I teach this and much more in my SMART MONEY COURSE – check out the link below: Join my SMART MONEY COURSE - - https://bit.ly/4klq0mv #GlobalPowerShift, #UKEconomy, #RiseOfTheEast, #ChinaStrategy, #MalaysiaMM2H, #InvestInAsia,  #BritainInDecline, #Geopolitics2025, #EastVsWest, #EmergingMarkets, #EconomicShift, #MoneyTipsPodcast, #SmartInvesting2025

Watch full video at Charles Kelly Money Tips Podcast: https://youtu.be/VRexfc258N4 Interview with Chartered Tax Adviser and Accountant on changes to Furnished Holiday Lettings tax regime, IHT, Trusts and Wills, SDLT, pensions, ISA, Non-Dom tax status and end of year tips.  High taxation is one of the reasons 10,000 millionaires left the UK last year. Check out my video on this. As the tax year draws to a close, now is the perfect time to review your finances and take advantage of last-minute tax-saving opportunities. In the latest episode of the Charles Kelly Money Tips Podcast, we break down essential end-of-tax-year tips to help you reduce your tax bill legally and keep more of your hard-earned money. Maximize Your ISA Allowance You can save up to £20,000 tax-free in an Individual Savings Account (ISA). If you haven’t used your full allowance, now is the time to top it up. Utilize Pension Contributions Contributing to your pension not only grows your retirement fund but also reduces taxable income, with tax relief of up to 45% for higher earners. We don’t know how long this tax concession will last. Claim Allowable Expenses Self-employed? Ensure you claim all deductible expenses, such as home office costs, travel, and professional fees, to lower your taxable profit. Use Capital Gains Allowance Sell assets strategically to take advantage of the current capital gains tax-free allowance before it resets in the new tax year. Gift Money IHT Tax-Free Use your annual £3,000 inheritance tax gift allowance to pass on wealth without tax implications. Use it or lose it. Use your accountant, tax specialist, financial adviser and other professionals to save you money. Good advice can save you a fortune. Invest in yourself. Don’t miss out on these end-of-tax-year strategies—watch the full video now! 7 Powerful Steps to Transform Your Finances in 2025 As we move closer to 2025, now is the perfect time to take charge of your finances and make it your most successful year yet. In the latest episode of the Charles Kelly Money Tips Podcast, we explore actionable strategies to help you achieve financial freedom and build wealth. Watch full video - https://youtu.be/-k7HPn0u_Ok?si=j6ZpuTlRyCJzuIxY Section 24 Property Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s #section24 #TaxSavingTips #EndOfTaxYear #FinanceTips #UKTaxes #WealthBuilding #MoneyManagement #PensionPlanning #TaxFreeSavings #CharlesKellyMoneyTips #furnishedholidaylet #IHT #SDLT #ISA

The UK rental market is set to undergo a significant transformation with the recent publication of the Renters Reform Bill. This proposed legislation aims to strengthen the rights of tenants while limiting the power wielded by landlords. With the increasing demand for affordable and secure housing, the bill seeks to create a fairer and more balanced rental sector.  Let's summarise some of the key provisions outlined in the bill that will impact both tenants and landlords: Section 21 ‘no fault’ evictions to be abolished. The end of section 21 “no fault” evictions, meaning a landlord will only be ‘allowed’ to evict a tenant if they have a “reason”, e.g. antisocial behaviour, unpaid rent, or a need to sell the property A new ombudsman to resolve disputes between tenants and landlords A new property portal that landlords MUST register with, allowing tenants to view information about their landlord before signing a tenancy agreement Tenants to be given the legal right to request a pet, such as a dog or cat, in “their” home A new Decent Homes Standard that will set minimum standards for the quality of housing Blanket ban on benefit tenants to be abolished. Will be illegal for landlords and agents to have blanket bans on renting to tenants in receipt of state benefits.  The Bill will become law after passing through the commons and House of Lords where it will be debated and scrutinised by MP’s and Lords. The opposition Labour Party largely support the tougher legislation and the also government has majority in parliament. See also:  Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up  Misery For Mortgage Holders As UK Interest Rates Rise AGAIN - https://youtu.be/BNe5eV37iiM What is your biggest money worry? I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth

This week the price of gold reached an all time high of $2081, amid US bank failures and quarter percent interest rate hikes from the Federal Reserve and ECB. Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH Investors sought safety as another US bank faces collapse following the rescues of First Republic Bank by JP Morgan. Shares in California-based PacWest bank tumbled by 50% and Western Alliance also plunged by almost 40%, as depositors lost confidence.  Watch video version - https://youtu.be/Glb75nkR0rw Shares in several US regional banks have plummeted causing the collapse of Silicon Valley Bank, while the regulators appeared to limit support to the major banks. This has caused a mass transfer of depositor funds to the safety of a big banks putting the whole regional bank system at risk. The Bank of England is expected to follow the Fed and ECB and raise UK base rates this month pouring more misery on borrower and driving the economy into official recession. See: Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up - https://www.youtube.com/watch?v=ziTf2jOagB8&t=179s Is gold a safe investment? Will property prices fall? What is your biggest money worry? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #blackstone

Bank of England follow Fed and ECB with twelfth successive interest rate rise by 0.25% to 4.5%. Mortgage rates are of much higher than the base rate with some borrowers seeing their payments double after their fixed-rate deals have expired. Average inflation recently jumped back over 10%, but mortgage costs, rent, food and energy costs have risen by far more. The Banks’ governor Andrew Bailey expects inflation to start going down this year as wholesale energy costs filter through to consumers. Will property prices keep falling? Should you get out of stocks? Official inflation rate stands at 10.1% - five times the target rate. Food inflation is 19% according to official figures. Watch full video - https://youtu.be/BNe5eV37iiM See also:  Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up  What is your biggest money worry? I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth   #bankofengland #inflation #money #FED #ECB 

This week the price of gold reached an all time high of $2081, amid US bank failures and quarter percent interest rate hikes from the Federal Reserve and ECB. Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH Investors sought safety as another US bank faces collapse following the rescues of First Republic Bank by JP Morgan. Shares in California-based PacWest bank tumbled by 50% and Western Alliance also plunged by almost 40%, as depositors lost confidence.  Shares in several US regional banks have plummeted causing the collapse of Silicon Valley Bank, while the regulators appeared to limit support to the major banks. This has caused a mass transfer of depositor funds to the safety of a big banks putting the whole regional bank system at risk. The Bank of England is expected to follow the Fed and ECB and raise UK base rates this month pouring more misery on borrower and driving the economy into official recession. See: Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up - https://www.youtube.com/watch?v=ziTf2jOagB8&t=179s Is gold a safe investment? Will property prices fall? What is your biggest money worry? Watch video version https://youtu.be/ziTf2jOagB8 We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #blackstone #bankofengland #fed #money #gold #goldprice 

The Bank of England (BoE) and Federal Reserve have hinted that further rate rises are on the cards in order to tame rising inflation. Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH Today’s Podcast Summary Wholesale market rates point to a rate rise.  Inflation in the UK is currently 10.1%. The BoE inflation target rate is 2%! What do you think the BoE are going to do? This will officially put the economy into recession, cause property prices to fall and more homeowners lose their houses through repossession. Do they care? RICS report predicts a fall in property prices of around 5%. Opportunities for first time buyers and property investors as prices fall. Blackstone have just raised $30 billion to buy property. What is your biggest money worry? Watch video version https://youtu.be/ziTf2jOagB8 We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #blackstone #bankofengland #fed #rich #money

The Institute for Fiscal Studies (IFS) is planning a comprehensive pensions review following research which highlighted concerns about the "substantial risks" facing future generations of pensioners.  Watch video - https://youtu.be/_7_cd2UWUEg Summary The Institute for Fiscal Studies (IFS) has announced plans for a comprehensive pensions review. The multi-year review will examine the effects of changing economic conditions and public policies on the future of financial security in retirement, including how these effects differ by gender, ethnicity and across the UK. The review will also consider the impact of changing demographics and longevity trends, as well as the impact on self-employed workers. Reports will be shared over the next two years, with concrete recommendations and options for reform to be presented in Summer 2025. IFS research revealed that 60% of middle-earning private sector employees who are contributing to a pension are saving less than 8% of their earnings. Additionally, nearly 90% are saving less than the 15% of earnings previously recommended by Lord Turner’s Pensions Commission. The review will also consider the risk facing future generations of pensioners and the risk that too many are saving too little for retirement. The Pensions Regulator welcomed the plans for the review and will support the development of industry-led solutions to help ensure people have financial security in retirement. Here are seven ways to retire financially free: Start Saving Early: The earlier you start saving for retirement, the more time your money has to grow. You can use tax-advantaged retirement accounts/plans to maximize your savings potential. Live Below Your Means: Live a modest lifestyle and avoid overspending on unnecessary items. Create a budget and stick to it, and consider downsizing or relocating to a lower cost of living area. Invest Wisely: Invest your money wisely in a diversified portfolio of stocks, bonds, and other assets. Consider consulting with a financial advisor to help you create an investment strategy that aligns with your risk tolerance and goals. Maximize Your Income: Consider ways to increase your income, such as taking on a side job or starting a small business. Maximize your earning potential by developing new skills, pursuing advanced education, or seeking a higher-paying job. Pay Off Debt: Avoid carrying high-interest debt, such as credit card debt, into retirement. Pay off your debts as soon as possible to reduce your financial obligations and free up money for savings. Plan for Healthcare Costs: Healthcare costs can be a significant expense in retirement. Consider purchasing long-term care insurance or a supplemental health insurance policy to help cover these costs. Have a Retirement Plan: Develop a retirement plan that takes into account your goals, income, and savings. Monitor your plan regularly and make adjustments as needed to ensure that you stay on track to meet your retirement goals.   Millions of people have lost faith in the complex and muddled pensions system, preferring to do their own thing by investing in things like buy-to-let property, business or trading directly on the stock market. Whilst this can work for some, ignoring the many benefits of pension investing, such as tax relief, carries risk. Need help with your money? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers  #housepricefall #finance #moneytraining #moneymanagement #wealth #money #buytolet #rentalproperty #pensions #IFSpensionreview #maxwell #definedcontributionpension

Residential rents in the capital soar by almost 20% as workers return to the city.     London Mayor Khan wants the government to give him powers to impose a cap on rents, but is that the answer or will more regulation exacerbate the shortage of available rental properties?   Tens of thousands of landlords are quitting the market and estate agents Knight Frank estimated that 144,000 landlords have retired in the last year.    See 85,000 UK Landlords have quit the rental market - https://youtu.be/NME3nEu8dAQ  Furthermore, higher interest rates and mortgage restrictions have rendered many buy-to-let property deals unviable.    Buy-to-let landlords have had to contend with higher taxes, and more red tape in the last few years, prompting many to look for alternative business opportunities.    There are signs that the government may be getting the message.   According to as yet unsubstantiated rumours, the government may be pushing back its planned introduction of tighter EPC requirements.    However, the abolition of Sec 21 no fault evictions looks like it is going ahead, despite the fact that there is no workable replacement.     With a pending recession and higher interest rates, house prices have slumped by more than 4% from that peak, according to March's figures from the Nationwide Building Society. Prices have fallen for five consecutive months as the Bank of England struggles to control inflation. Does this mean there will be a 2008-style crash? Much depends on government moves to balance the economy, as no Prime Minister wants to face a general election during a property crash. If you would like to know more about property, money, management and wealth building tips, I’m running a free webinar this week on Wednesday evening at 8 pm.    Need help with your money, finances or debt? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live money management training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers  #housepricefall #finance #moneytraining #moneymanagement #wealth #money #EPC #buytolet #rentalproperty #Section21

Last week, the Bank of England announced an interest rate hike of 0.25%, which will have a significant impact on the UK property market. The change will impact mortgages, remortgages, and first-time buyers, and it comes just in time for the last day of the Help to Buy scheme. Join me online on my free live training Wednesday at 8.00PM. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH Money Tips Podcast guest, Miriam Nawagamuwa CeMAP, Mortgage and Protection Advisor with Larkin Financial Services Ltd gives her expert views on the mortgage market. Fixed-rate mortgages will remain unaffected by the interest rate hike, which is good news for those who have locked in their mortgage rates for a fixed period. However, for those who are looking to remortgage, this could mean an increase in monthly payments. Watch YouTube Video Podcast Version: https://youtu.be/iRrL3GRY3-8 The Bank of England's interest rate hike is a response to rising inflation, which has been fuelled by increasing energy costs and supply chain disruptions caused by the pandemic. The aim is to curb inflation and stabilize the economy, but the move could also affect property prices. The Nationwide just announced the largest fall in house prices since 2009 and said that prices were down 3.1% on March 2022. Higher interest rates mean that mortgages will become more expensive, which could lead to a decrease in demand for properties. This could result in a slowdown in the property market, as potential buyers may become more cautious about making big financial decisions. The end of the Help to Buy scheme is also significant for first-time buyers. The scheme has helped many people get onto the property ladder by offering government-backed equity loans. From the 1st of April 2023, the scheme will come to an end, which means that first-time buyers may find it harder to get on the property ladder. One alternative option for first-time buyers is the Lifetime ISA, which is a tax-free savings account that can be used to buy a first home or used after age 60 for retirement. The account allows savers to put away up to £4,000 per year, and the government will top up the account with a 25% bonus - £1,000. In summary, the Bank of England's interest rate hike will impact the UK property market in several ways. Fixed-rate mortgages will remain unaffected, but remortgages, tracker and variable rate mortgages, as well as first-time buyers will be hit.  The end of the Help to Buy scheme could also make it harder for first-time buyers to get onto the property ladder. As always, it's essential to seek professional advice before making any financial decisions in the current climate. Need more help with your money, finances or debt? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #interestrates #property #mortgages #fixedratemortgage #remortgage #firsttimebuyer #helptobuy #mortgagerates #homebuyers #LifetimeISA #variableratemortgage #trackerratemortgage

This week, both the Federal Reserve in the United States and the Bank of England have announced a 0.25% interest rate hike. This move comes in response to rising inflation and a strengthening economy. While interest rate hikes may be good news for savers, they can also have a significant impact on the mortgage and property market. One of the most immediate impacts of the interest rate hike will be on fixed-rate mortgages. These mortgages are often preferred by buyers because they provide a predictable monthly payment over the life of the loan. However, when interest rates rise, the cost of borrowing increases, which means that fixed-rate mortgages will become more expensive. This may make it more difficult for some buyers to qualify for a mortgage, or force them to adjust their budget to afford a higher monthly payment. The interest rate hike could also impact the demand for homes. As the cost of borrowing increases, some buyers may decide to hold off on purchasing a home or look for a less expensive property. This could lead to a slowdown in the housing market, which could ultimately impact property values. In addition, rising interest rates can also impact the rental market. As the cost of borrowing increases, landlords may have to raise their rents to cover their increased expenses. This could make it more difficult for renters to find affordable housing. On the other hand, rising interest rates could be good news for savers. As banks and other financial institutions increase their interest rates, savers may be able to earn a higher return on their savings. This could encourage more people to save, which could ultimately help to strengthen the economy. Inflation is another factor to consider when thinking about the impact of interest rate hikes. As the cost of borrowing increases, so too does the cost of goods and services. This can lead to higher inflation, which can ultimately impact the economy. However, by raising interest rates, the Federal Reserve and the Bank of England are trying to keep inflation in check and prevent it from spiralling out of control. In conclusion, the interest rate hikes announced by the Federal Reserve and the Bank of England this week are likely to have a significant impact on the mortgage and property market. While fixed-rate mortgages will become more expensive, savers may be able to earn a higher return on their savings. The demand for homes may also slow down, which could impact property values and the rental market. As always, it is important to monitor the situation and adjust your financial plan accordingly. Need more help with your money, finances or debt? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #moneymanagement #moneymakingideas

Another bank bailed out while Paris burns. 3 Steps To Success Money Management! Join me online on my free live training Wednesday at 8.00PM. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH As expected, Jeremy Hunt’s first budget did little to excite investors and the property industry. Watch YouTube video - https://youtu.be/igKUWeiF4W4 With the country still recovering from the events of the last two years and massive Government debt there was not much money to give away in this budget. Chancellors usually save that for a pre-election budget! Jeremy Hunt highlighted concerns about the banking sector, following the collapse of America’s Silicon Valley Bank, Signature Bank and a further bailout by the US banks, but reassured us that the UK banking industry is safe. European Central Bank supervisors see no contagion for euro zone banks from recent sector turmoil, a source said on Friday, after U.S. lenders threw First Republic Bank a $30 billion lifeline and tapped record amounts from the Federal Reserve. Large U.S. banks on Thursday were forced to rescue the San Francisco-based lender, which was caught up in market volatility triggered by the collapse of two other mid-size U.S. banks. This week, Credit Suisse went ‘cap in hand’ to the central for an emergency bank loan of up to $54 billion to shore up its liquidity – banking terms for having no money! The National Residential Landlords Association described it as a missed opportunity to tackle the supply crisis in the private rented sector and the Royal Institution of Chartered Surveyors (RICS) said it was disappointed by the lack of housing ambition in the budget. However, the Chancellor did announce 12 new Investment Zones across the UK and relaxed Immigration Rules to help the construction industry cope with staff shortages. Most of us will be paying more tax  in the coming years due to the ‘fiscal drag’ caused by tax allowances not rising in line with inflation each year. Here’s a summary of the main points, but you can read the full budget speech at the commons library - https://commonslibrary.parliament.uk/research-briefings/cbp-9748/ Budget main points Energy cap limiting typical household energy bills to £2,500 a year extended to June  £200m to bring energy charges for prepayment meters into line with prices for customers paying by direct debit - affects 4m households Lifetime Allowance – the cap on amount workers can accumulate in pensions savings over their lifetime before having to pay extra tax (currently £1.07m) to be abolished Tax-free yearly allowance for pension pot to rise from £40,000 to £60,000  The 5p cut to fuel duty on petrol and diesel, due to end in April, kept for another year Office for Budget Responsibility (OBR) predicts the UK will avoid recession in 2023, but the economy will shrink by 0.2%? Economy shrinking but not in recession! Growth of 1.8% predicted for next year, with 2.5% in 2025 and 2.1% in 2026 UK's inflation rate predicted to fall to 2.9% by the end of this year, down from 10.7% in the last three months of 2022 Underlying debt forecast to be 92.4% of GDP this year, rising to 93.7% in 2024 Corporation tax, paid by businesses on taxable profits over £250,000, confirmed to increase from 19% to 25% making the UK a less competitive place to invest Companies with profits between £50,000 and £250,000 to pay between 19% and 25% Companies able to deduct investment in new machinery and technology to lower their taxable profits Tax breaks and other benefits for 12 new Investment Zones across the UK, funded by £80m each over the next five years £200m this year to help local councils in England repair potholes £900m for new super computer facility, to help UK's AI industry 30 hours of free childcare for working parents in England expanded to cover one and two-year-olds, to be rolled out in stages from April 2024 A £600 "incentive payments" for those becoming childminders, and relaxed rules in England to let childminders look after more children New fitness-to-work testing regime to qualify for health-related benefits New voluntary employment scheme for disabled people in England and Wales, called Universal Support Tougher requirements to look for work and increased job support for lead child carers on universal credit £63m for programmes to encourage retirees over 50 back to work, "returnerships" and skills boot camps Immigration rules to be relaxed for five roles in construction sector, to ease labour shortages Source: BBC News We are living in turbulent times. Need more help with your money, finances, or debt? I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to help you get control of your money, learn how to invest and become financially free.  Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #moneymanagement #moneymakingideas #mortgage #interestrates #property #budget  #franceriots #parisriots #pension

The number of UK buy-to-let property companies listed at Companies House has soared to record levels since George Osbourne introduced his ‘Section 24’ tax bombshell on landlords. If you are stuck in the Section 24 tax trap contact me at charles@charleskelly.net to arrange a free consultation with a property tax specialist. There are now over 400,000 limited property companies registered, more than any other businesses and four times as many as fast food firms. Since 2016 there has been a fourfold rise in incorporated buy-to-let businesses, much of which is due to George Osbourne’s ‘Section 24’ tax hike on landlords. The change in the law meant that buy-to-let landlords with properties held in their own names could no longer offset mortgage interest against their rent (pre-profit gross income). Almost 700,000 properties are now held in limited companies, rather than in individual names, which has become the standard method used to buy investment property in the UK. Watch full video version - https://youtu.be/tdcdZDdu7qY Section 24 Property Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s #section24 #TaxSavingTips #FinanceTips #UKTaxes #WealthBuilding #MoneyManagement #PensionPlanning #TaxFreeSavings #CharlesKellyMoneyTips # #property #propertycompany #investmentproperty #buytoletlandlord 

The UK mortgage market is constantly evolving, with new economic factors shaping the landscape. As of the start of 2023, there are several notable updates to the UK mortgage market that potential buyers and homeowners should be aware of. Interview with Mortgage Advisor Miriam Nawagamuwa CeMAP   One of the biggest changes is the increase in interest rates. The Bank of England has been hiking its base rate since 2021 to 4%, the highest in 14 years. Mortgage rates have risen substantially, making borrowing more expensive. However, there are still competitive rates available for those with good credit scores and larger deposits or equity. In addition to interest rates, the UK mortgage market is also seeing increased competition among lenders. More and more online-only banks are entering the market, offering lower rates and faster application processes. This is good news for borrowers, given them more options to choose from when shopping for the best mortgage deal. Stricter lending and affordability checks have been introduced following the Financial Conduct Authority's (FCA) lending review in 2022. Mortgage lenders now consider borrowers' regular expenditure and other financial commitments when assessing affordability. In the past, banks lent based on a simple multiple of salary. The tough new criteria means that some borrowers may find it harder to secure a mortgage or re-mortgage, but ensures that lenders are lending responsibly and not overstretching borrowers.  The lending ‘stress test’ bar has also been raised on buy-to-let mortgages, pushing more investors into higher yielding HMO’s, holiday lets and serviced accommodation. Regulators do not want a repeat of the 2008 financial crisis largely caused by banks lending recklessly to borrowers with a poor credit history. Finally, the government's Help to Buy scheme will end in March 2023. This scheme allowed first-time buyers to purchase a home with just a 5% deposit, with the government providing a loan of up to 20% (or 40% in London) of the property value. Overall, the UK mortgage market is a complex and ever-changing landscape. It's essential for potential buyers and homeowners to keep up to date with the latest developments and to seek professional advice before making any significant financial decisions. With the right knowledge and support, it's possible to navigate the market and secure a mortgage that meets your needs and financial goals. How to contact Miriam: Miriam Nawagamuwa CeMAPMortgage and Protection AdvisorLarkin Financial Services Ltdmiriam.nawagamuwa@larkinfinancial.co.ukhttps://www.larkinfinancial.co.uk Need more help with your money, finances, or debt? I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #moneymanagement #moneymakingideas #recurringincome #bankfailure #siliconvalleybank

US regulators have taken control of Silicon Valley Bank (SVB) as a liquidity crisis caused the biggest bank failure since the 2008 Crisis. Join me online on my free live training Wednesday at 8.00PM - register now below to avoid disappointment https://bit.ly/3QPp8IH The Bank of England said depositors in the UK arm of SVB will be protected up to £85,000 and the US regulators protect depositors up to $250,000. This will not help firms like Roku which is reported to have had $487 million in SVB.  Here in the UK, the media is concentrating on more important issues than the failure of America’s 16th largest bank, Gary Lineker! The MOTD football presenter, who is paid in excess of £1,000,000 a year for his weekly show, was suspended by the BBC this week after tweeting remarks about the government’s migrant policy. Several other presenters have walked out in sympathy with Lineker wrecking the BBC’s weekend football schedule. The demise of SVB, which started in 1983 and employs 8500 people, is a sign that higher interest rates and the Fed’s QT policy is starting to bite the economy and that we are not out of the woods. Key Lessons: Don’t leave all your eggs in one bank basket. Who knows where your cash is really safe in times of financial crisis? Be more financially aware. Learn more about money and how to manage your finances. Need more help with your money, finances or debt? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #moneymanagement #moneymakingideas #recurringincome #bankfailure #siliconvalleybank #garylineker #football #MOTD #bankcrisis

In these times of economic  uncertainty and turmoil, Money Tips looks at ways to generate and earn recurring income streams. Rent out property or equipment Invest in dividend-paying stocks or funds Create and sell a product or service on a subscription basis Offer consulting or coaching services Create and sell an online course or e-book Develop and sell a mobile app or website Invest in a franchise or cash flowing business Become an affiliate marketer selling other people’s products Create and sell a physical or digital product on a recurring basis Build and monetize a YouTube or social media following. Need more help with your money, finances or debt? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success In Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #moneymanagement #governmenttraining #recruitment

Set financial goals: Start by setting clear and specific financial goals for yourself, whether it's paying off debt, saving for a down payment on a house, or building an emergency fund. Make a budget: Creating a budget is a crucial step in managing your money. Determine your income and expenses, and make sure you are living within your means. Track your spending: Keep track of your spending by writing down all of your expenses, and review your spending regularly to identify areas where you can cut back. Save for emergencies: An emergency fund is a must-have for anyone looking to manage their money effectively. It will provide a financial safety net in case of unexpected expenses or loss of income. Reduce debt: High-interest debt, such as credit card debt, can be a major burden on your finances. Create a plan to pay off your debt as quickly as possible. Invest wisely: Investing can help you grow your wealth, but it's important to be smart about it. Do your research and invest in assets that align with your goals and risk tolerance. Take advantage of employer benefits: Many employers offer benefits such as 401(k) matching, health savings accounts, and flexible spending accounts. Take advantage of these programs to help you save money and manage your finances. Shop around: Whether you're buying groceries, clothes or any other item, it's important to shop around for the best deals. Compare prices from different retailers and online marketplaces to ensure you're getting the best value for your money. Consider a financial advisor: A financial advisor can help you create a financial plan that is tailored to your specific needs and goals. They can also provide valuable advice and guidance on investment and retirement planning. Keep learning: Managing your money is an ongoing process, and it's important to stay informed and educated about personal finance. Read books, articles, and blogs on the subject, and attend financial workshops or seminars to continue learning and growing your knowledge. Need more help with your finances or debt? We are living in challenging economic times. I want to show you how can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.   3 Steps To Success Money Management! I want to take you to the next level, help you get control of your money, learn how to invest and become financially free.  Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #moneymanagement #governmenttraining #recruitment

Property prices are tumbling in the US, Germany, Sweden, Denmark and the UK. Higher interest rates and borrowing costs are hitting the property market across the globe. The FT reports that there will be a global property meltdown this year, especially in overheated markets like Canada and New Zealand. The property market in China is now at the slowest pace since records began in 1992 – down 26% last year. Home prices in several US cities are crashing, following a recording boom from 2020-22, including Houston, Sacramento and Las Vegas.  The cost of a 30-year fixed rate mortgage hit 7% recently, more than double the rate in 2022 and the highest since 2008. Mortgage demand in the US is at its lowest for 25 years and house sales fell by a quarter last year. Denmark has suffered the biggest fall in a decade, where house prices fell 3.8% in the third quarter of 2022 despite an interest rate of 1.75%, according to Yahoo Finance. In neighbouring Sweden, house prices have crashed by 20% in the last five months, says Yahoo. Prices have fallen for the fifth consecutive month in the UK, where fixed mortgage rates reached 6% last year pushing affordability beyond the reach of average buyers. Average property prices are close to ten times average incomes and much higher in parts of London and the south east of England. Renters are also leaving London in droves to escape unaffordable rents and in search of cheaper properties to buy. The Bank of England increased base lending rates by 0.5% last week to 3.5% in a bid to control the inflation their actions largely caused. UK mortgage rates fall below 4% Virgin and HSBC are offering fixed rates at 3.00% as lenders slash rates to stimulate demand. However, the headline rates required a 40% deposit and are usually for residential mortgages as opposed to buy-to-let loans. Experts believe the property market will fall this year, but not at the same rate as in Sweden and Denmark.  Despite demand for housing in the UK, prices in popular areas are unaffordable and will have to come down unless the market simply stagnates. Transactions are down by 30% and buyer enquiries are at the lowest level since 2008 (excluding 2020). Like the overheated stock markets, property markets regularly go through a 10-12-year boom and bust cycle. The current boom has been fuelled by an unsustainable central bank money printing on an industrial scale since the 2008 financial crash. Happy Valentines Day! Learn more about getting control of your finances using my 3-Step Money Management Formula on my free training webinar.  If you’re struggling or worrying right now, I want to show you: 3 Steps to get control of your finances and spending and not only survive, but thrive in a recession or depression? Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. Act now and take advantage of this limited time offer. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #property #interestrates #propertyprices #houseprices #housingmarket #interestrates

Exploring the Power of Hypnotherapy and NLP with Anxiety Expert Gavin Rubenstein Watch video - https://youtu.be/cB9PhKZfjUk To contact Gavin visit - www.gmrhypnotherapy.com Learn more about getting control of your finances using my 3-Step Money Management Formula on my free training webinar.  If you’re struggling or worrying right now, I want to show you: 3 Steps to get control of your finances and spending and not only survive, but thrive in a recession or depression? Join me online on my free live training Wednesday at 8.00PM.  Places are limited, so register now below to avoid disappointment. Act now and take advantage of this limited time offer. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #property #interestrates #hypnotherapy #NLP #anxiety 

The Whitney Houston biopic, ‘I Wanna Dance With Somebody’, shows how making money and getting rich are not enough to stay rich. For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  Whitney Houston was the biggest female star of her time selling millions of records and selling out shows all over the world, but nearly went broke because left the management of her financial affairs to her Father who frittered millions of dollars away on private jets, hangers on and high living.  Many other stars have made and lost a fortune, which I talk about in my books. It’s a lesson for all of us. It doesn’t matter how much money you make, you will never be financially free without proper money management. Learn how to manage your finances in 28 days, without pain. In my S.M.A.R.T MONEY course I teach five principles of managing and making money. For more information see my free Master Your Money the S.M.A.R.T Way training. Check it out - https://bit.ly/3isugCr.  #money #business #whitneyhouston #iwannadancewithsomebody #moneymanagement #smartmoney #freemoneytraining #financialfreedom #getrich #stayrich #moneycanyouhappiness 

The average house price in the UK fell for the fourth month in a row in December as prices plummeted by 1.5% compared to November - the average house price is now £281,272, according to Halifax. For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  December's decline was not as high the 2.4% drop in November. Annually, house prices grew by just 2% compared with December 2021 - down from 4.6% annual increase recorded in November – and the slowest rise since October 2019 when prices were going up by 1.1%. Mortgage approvals unsurprisingly declined to their lowest level in two years as interest rate rises deterred buyers, new Bank of England figures find. Mortgage approval lending slumped to just 46,000 in November, down from under 58,000 in October, the BOE reports. Home-buyers and buy-to-let investors were put off by a massive rise in mortgage interest rates following a succession of base rate hikes designed to curb soaring inflation. Rates have gone up nine times since December 2021 to 3.5%, the highest level in 14 years.  The average 5-year fixed rate mortgage rate recently reached just under 6% hitting 100,000 per month with higher payments of up to three times their previously deal. Economists and experts have predicted that already depressed house prices could further fall by up anything from 10% to 20% in 2023. Bank of England figures also reveal that people are borrowing more on credit cards - up by £1.2bn - as cost of living pressures continue to hammer household and business budgets. Despite higher rates, householders increased mortgage borrowing against their homes by an additional £4.4bn in November. UPDATE ON MTD Good news for business. Making Tax Digital and quarterly reporting bureaucracy changes for self-employed will be postponed for two years until 2026, HMRC has announced. See also: See My UK Property Predictions For 2023 – Where Is The Housing And Rental Market Going? Watch video on my YouTube channel - https://youtu.be/ekDrJUZ6pUg Toronto Property Market Explained By Luc Lising One Of Canada’s Top Realtors  - Watch full video interview - https://youtu.be/lldv5gL1GaQ What Are You Doing Today To Make Your Life Better Tomorrow?  Watch video version on my YouTube channel - https://youtu.be/G8_SKQgGisI The UK Prime Minister Rishi Sunak wants to force children to study mathematics until 18, but they should be teaching them about finance, mortgages, investing and pensions.  For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  #property #rentalmarket #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #goals #plans #interestrates #mentor #canadapropertymarket #GTApropertymarket #torontoproperty #luclising #filipinocanadian The Bank of England has increased rates nine times since December 2021 to try to dampen the rate of price rises, also known as inflation. Interest rates are currently 3.5%, the highest level in 14 years.

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  In this exclusive interview with 22-year-old Canadian-Filipino Luc covers: Why buying in a property downturn is the best time for opportunities. The advantages of buying off-plan new build condos in the GTA. Government ban foreign property investors. What you MUST do to be successful. The importance of having a mentor. Don’t meditate on work, just work! Simple businesses that work! Watch full video interview - https://youtu.be/lldv5gL1GaQ The UK housing market will shrink - but not necessarily crash - next year, industry experts agree, as the government fights recession and higher mortgage rates. House prices have been dropping month-on-month with average prices down 2.3% in November from October – the most since the start of the financial crash in 2008 – according to Halifax. See My UK Property Predictions For 2023 – Where Is The Housing And Rental Market Going? Watch video on my YouTube channel - https://youtu.be/ekDrJUZ6pUg #property #rentalmarket #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #goals #plans #interestrates #mentor #canadapropertymarket #GTApropertymarket #torontoproperty #luclising #filipinocanadian

With some forecasters warning of somewhere between a depression and Armageddon, here are my thoughts on the UK housing market. For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  The UK housing market will shrink - but not necessarily crash - next year, industry experts agree, as the government fights recession and higher mortgage rates. House prices have been dropping month-on-month with average prices down 2.3% in November from October – the most since the start of the financial crash in 2008 – according to Halifax. Watch video on my YouTube channel - https://youtu.be/ekDrJUZ6pUg Price growth will decline in 2023 as soaring inflation hits the economy and forces interest rates up. As the downturn intensifies, housing indicators are showing red with rates expected to go even higher and the UK goes into a long recession. The Bank of England is expected to raise interest rates into 2023 from 3.5% now to 4.75%, but there are signs that the rate of inflation is slowing. Higher interest rates will hit buy-to-let landlords and investors, as deals fail to stack up. Move from cities to the country is slowing, as more people move back to the office. Property experts forecast property price declines of 5% - 12% next year, although some warn of a crash by 15% to 20%.  Mortgage rates have since fallen back since the disastrous mini-budget in September to an average five-year fix at 5.6% according to Moneyfacts – still far higher than a year ago.  UK mortgage lenders expect to lend 23% less to homebuyers in 2023 following a two-year boom. UK Finance forecast gross mortgage lending for house purchases to decline to £131bn in 2023 from £171bn in 2022 and a peak of £189bn in 2021. Leading UK lenders have met with government officials to discuss measures to ease the burden on around 90,000 people in mortgage arrears, the FT reports. Property sales are set to drop to 1.01m next year from 1.27m in 2022. Savills warns of a severe drop in transactions, to 870,000, and a 10% fall in house prices in 2023. Estate agents Jones Lang LaSalle forecasts a 6% drop in house prices next year. Both firms expect a 1% price growth in 2024, as interest rates fall back and inflation cools. The Nationwide expects a “modest decline” or “soft landing” in house prices next year, but lenders seldom talk of a property crash. The lender said 85% of mortgage balances are currently on fixed interest rates. The Bank of England said 4m households face higher mortgage payments next year. Typical payments could rise by £250 to £1,000 a month causing severe financial difficulties for 220,000 households. Capital Economics’ central forecast is for house prices to fall by 12% by the end of 2023, but Andrew Wishart, senior economist at the consultancy, said in a worst-case scenario prices could plummet by up to 20%. “The initial drop in house prices has been sharper than in the financial crisis or the early 90s, “For affordability to return to a sustainable level by the end of 2023, when we think mortgage rates will still be around 5%, the average house price would have to drop by 20%.  On the other hand, were market and mortgage interest rates to drop faster than we expect, that would limit the fall in prices.” Rent prices have surged to record levels due to a shortage of properties to rent and growing demand, as well as a slowing buy-to-let market and many first-time buyers are opting to rent in the hope of lower mortgage rates in 2023/24. Some 85,000 landlords have quit the buy-to-let market in the last 5 years.  See my Money Tips Podcast video - https://youtu.be/NME3nEu8dAQ UK private rents jumped by 4% in November, the highest since records began in 2016, official figures showed. Savills forecasts rental growth rising to 6.5% before slowing to 4% in 2024. Globally, many markets seem overheated and, in a bubble, – Sydney and Auckland for instance.  China’s property market boom appears to be over with a 20% decline. In my next episode, I will be talking to one of Toronto’s leading realtors about his housing predictions for 2023. As with all economic forecasts, much depends on government action and the prevailing winds of the economy, but more rests on your action in your U’conomy! Your goals for 2023 How was 2022 for you? Did you achieve your goals? What are your financial goals for 2023 and how do you plan to achieve them?  I wish you a happy and successful new year! For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.   Check it out for free - https://bit.ly/3isugCr. #property #rentalmarket #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #goals #plans #interestrates #bankofengland 

About Emmanuel. Global Influencer in Finance  As one of the top global influencers in the future of finance, Emmanuel is renowned for his ability to illuminate how finance is being transformed through a combination of geopolitics, cutting-edge technologies and decentralised finance.  His work covers the full range of topics including: ⁠  ⁠the future of the dollar as a reserve currency,  ⁠  ⁠the BRICS payment system, ⁠  ⁠the failure of CBDCs and the rise of stablecoins  ⁠  ⁠when the U.S. embraces crypto, ⁠  ⁠the impact of AI on finance,  ⁠  ⁠traditional banking and DeFi, ⁠  ⁠APIs and the cloud in finance ⁠  ⁠The personalization of finance Emmanuel is the founder of TAB Global, which encompasses platforms like The Asian Banker, Wealth and Society, and The Banking Academy. These platforms have been instrumental in building vital connections within the financial industry, fostering collaboration, and driving innovation on a global scale. End of tax year tips As the tax year comes to a close, now is the perfect time to review your finances and take advantage of last-minute tax-saving opportunities. Rachel Reeves has talked about “simplifying” ISAs, which could mean slashing the annual allowance for savings ISAs, currently £20,000. See full video episode - https://youtu.be/uXcCqWj_xfs?si=51rN_XvVb4ntWexO Section 24 Property Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s #section24 #TaxSavingTips #EndOfTaxYear #FinanceTips #UKTaxes #WealthBuilding #MoneyManagement #PensionPlanning #TaxFreeSavings #CharlesKellyMoneyTips #emmanueldavid #globalfinace #property

Interest rates rise again to highest level in 14 years pushing the economy and property market deeper into recession… For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  The three main Central banks raised interest this week, with the Bank of England hiking rates by .5% to 3.5%.Hey, do you think they might be colluding? 😊 Watch video version: https://youtu.be/WCmTLiUlra0 UK interest rates are now at the highest level for 14 years and it is the ninth time in a row that the Bank of England has put up base lending rates, despite a small fall in inflation to 10.7% in November.   The bank has set a ludicrous 2% target inflation rate but is using a sledgehammer to crack a nut.   The Federal reserve, ECB and Bank of England are hellbent on driving the world into recession in order to keep down inflation, which they caused with their money printing policies.  The Fed and Bank of England were both asleep at the wheel in 2008 which caused the financial crash. Taxpayers in the UK were forced to bail out their friends in the banks. Then they printed money with a stimulus on a scale never seen before in history, which, surprise surprise, has caused the highest level of inflation since the 1980s. Now they are aggressively raising interest rates and driving the economy into recession.   The Bank of England “predicted” that we were going to the worst recession on history, and then proceeded to make it happen. A self-fulfilling prophecy! Stock markets fell this week, crypto is in turmoil and property asking prices and dropping. We can’t do much about these faceless suits, but we can manage and grow our own economy. Like the Kenny Rogers song says: You’ve Gotta know when to hold ‘em, Know when to fold em, Know when to walk away, And know when to run! In other words, you need to understand how money and the markets work so you can make educated moves. Watch Video - https://youtu.be/WCmTLiUlra0 See also:   Transfer Property To A Limited Company WITHOUT Paying Capital Gains Tax or Stamp Duty Tax - https://youtu.be/mtGq7WaVx Making Tax Digital – MTD Means More Red Taper Ahead For Weary Landlords - https://youtu.be/mYhJSCbOGLE 10 Tips To Avoid Christmas Debt - https://youtu.be/n7vSK5LlONU The rich and successful have coaches and mentors, and never stop learning. For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.   #tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans #interestrates #crypto

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  These are the Rich Habits followed by the wealthy and successful people, and mentors, I have observed. They have a daily routine. They work hard, and smart. They wake up early. They read books. They keep learning. They are good listeners. They work out and exercise.  They eat well and stay healthy. They are disciplined in their lives. They manage their money. They make their money work hard for them. They manage their time. They believe time is money. They avoid procrastination. They avoid negative or toxic people. They are organised and dependable. They make time work for them rather than exchanging time for money. They value family and home life and spend quality time with the family. They are usually nice, personable or likeable people. They are generous, give back through ‘giving’ and charities. They have a strong magnetism, charisma and energy field. They have a relaxed, calm and self-assured manner or energy.  They are leaders in one form or another and lead by example. They get along with people and work well in or build a team around them.  They have strong values or a religious belief or faith or moral code of some kind.  They usually lead law abiding, moral lives, pay their taxes and deal honestly. They have congruency in their lives and live by their own beliefs and standards. They have a clear vision and always know exactly where they are going. They make sure that the people around them are aligned with that vision. They have clear primary long-term and short-term goals. They write down their goals and use tools such as vision boards. They back up their vision with action, clear goals, plans and habits. They have a plan is to reach their long-term vision and goals. They take the long-term perspective and are patient.  They are persistent, see things through and never give up. They invest in themselves and have a coach or a mentor. Do you have a vision for your life? Do you have clear, written goals and a plan for achieving them? Mind your business Your mind is your business! What are you putting into your mind? What are you feeding your mind? What books are you reading? How many books have you read this year? How are you investing in yourself? What podcasts are you listening to? What courses and learning are you taking? Who are you watching and listening to? Who are you surrounding yourself with? What do you understand by debt? Do you know the difference between a credit card and a debit card? Do you have a plan to get out of debt? Do you have a plan to build long-term wealth? Do you have a coach or mentor? See also:   Transfer Property To A Limited Company WITHOUT Paying Capital Gains Tax or Stamp Duty Tax - https://youtu.be/mtGq7WaVx Making Tax Digital – MTD Means More Red Taper Ahead For Weary Landlords - https://youtu.be/mYhJSCbOGLE 10 Tips To Avoid Christmas Debt - https://youtu.be/n7vSK5LlONU The rich and successful have coaches and mentors, and never stop learning. For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.   #tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  These are the Rich Habits followed by the wealthy and successful people, and mentors, I have observed. They have a daily routine. They work hard, and smart. They wake up early. They read books. They keep learning. They are good listeners. They work out and exercise.  They eat well and stay healthy. They are disciplined in their lives. They manage their money. They make their money work hard for them. They manage their time. They believe time is money. They avoid procrastination. They avoid negative or toxic people. They are organised and dependable. They make time work for them rather than exchanging time for money. They value family and home life and spend quality time with the family. They are usually nice, personable or likeable people. They are generous, give back through ‘giving’ and charities. They have a strong magnetism, charisma and energy field. They have a relaxed, calm and self-assured manner or energy.  They are leaders in one form or another and lead by example. They get along with people and work well in or build a team around them.  They have strong values or a religious belief or faith or moral code of some kind.  They usually lead law abiding, moral lives, pay their taxes and deal honestly. They have congruency in their lives and live by their own beliefs and standards. They have a clear vision and always know exactly where they are going. They make sure that the people around them are aligned with that vision. They have clear primary long-term and short-term goals. They write down their goals and use tools such as vision boards. They back up their vision with action, clear goals, plans and habits. They have a plan is to reach their long-term vision and goals. They take the long-term perspective and are patient.  They are persistent, see things through and never give up. They invest in themselves and have a coach or a mentor. Do you have a vision for your life? Do you have clear, written goals and a plan for achieving them? Mind your business Your mind is your business! What are you putting into your mind? What are you feeding your mind? What books are you reading? How many books have you read this year? How are you investing in yourself? What podcasts are you listening to? What courses and learning are you taking? Who are you watching and listening to? Who are you surrounding yourself with? What do you understand by debt? Do you know the difference between a credit card and a debit card? Do you have a plan to get out of debt? Do you have a plan to build long-term wealth? Do you have a coach or mentor? See also:   Transfer Property To A Limited Company WITHOUT Paying Capital Gains Tax or Stamp Duty Tax - https://youtu.be/mtGq7WaVx Making Tax Digital – MTD Means More Red Taper Ahead For Weary Landlords - https://youtu.be/mYhJSCbOGLE 10 Tips To Avoid Christmas Debt - https://youtu.be/n7vSK5LlONU The rich and successful have coaches and mentors, and never stop learning. For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.   #tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  These are the rich habits followed by the wealthy and successful people, and mentors, I have observed. They have a daily routine. They work hard, and smart. They wake up early. They read books. They keep learning. The are good listeners. They work out and exercise.  They eat well and stay healthy. They are disciplined in their lives. They manage their money. They make their money work hard for them. They manage their time. They believe time is money. They avoid procrastination. They avoid negative or toxic people. They are organised and dependable. They make time work for them rather than exchanging time for money. They value family and home life and spend quality time with the family. They are usually nice, personable or likeable people. They are generous, give back through ‘giving’ and charities. They have a strong magnetism, charisma and energy field. They have a relaxed, calm and self-assured manner or energy.  They are leaders in one form or another and lead by example. They get along with people and work well in or build a team around them.  They have strong values or a religious belief or faith or moral code of some kind.  They usually lead law abiding, moral lives, pay their taxes and deal honestly. They have congruency in their lives and live by their own beliefs and standards. They have a clear vision and always know exactly where they are going. They make sure that the people around them are aligned with that vision. They have clear primary long-term and short-term goals. They write down their goals and use tools such as vision boards. They back up their vision with action, clear goals, plans and habits. They have a plan is to reach their long-term vision and goals. They take the long-term perspective and are patient.  They are persistent, see things through and never give up. They invest in themselves and have a coach or a mentor. Do you have a vision for your life? Do you have clear, written goals and a plan for achieving them? Mind your business Your mind is your business! What are you putting into your mind? What are you feeding your mind? What books are you reading? How many books have you read this year? How are you investing in yourself? What podcasts are you listening to? What courses and learning are you taking? Who are you watching and listening to? Who are you surrounding yourself with? What do you understand by debt? Do you know the difference between a credit card and a debit card? Do you have a plan to get out of debt? Do you have a plan to build long-term wealth? Do you have a coach or mentor? See also:   Transfer Property To A Limited Company WITHOUT Paying Capital Gains Tax or Stamp Duty Tax - https://youtu.be/mtGq7WaVx Making Tax Digital – MTD Means More Red Taper Ahead For Weary Landlords - https://youtu.be/mYhJSCbOGLE 10 Tips To Avoid Christmas Debt - https://youtu.be/n7vSK5LlONU The rich and successful have coaches and mentors, and never stop learning. For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.   #tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  UK house prices suffered their biggest drop in 14 years in November, falling by 2.3%, according to the largest mortgage lender The Halifax. At the same time, London rental prices have soared 17% or £273 per month in the last year. Other large regional cities have seen similar increases, including Manchester, up 15.6%, Birmingham (12.3%), Glasgow (14.1%), Bristol (12.9%) and Sheffield (2.4%). The average rent for new lets soared by £117 per month since last year, reaching £1,078 per calendar month. Rental growth now stands at 12% per year, twice the growth in earnings and accounting for over a third of average earnings for a single person. Spray Foam Loft Insulation Could Render Your Home “Worthless” The UK government giving out billions in grants to homeowners to cut energy costs – including installing insulation and even solar panels. But one type of insulation, spray foam, could make your home value go to “zero”, according to surveyors and property valuers for mortgages. BBC reported that one couple had their property valued at “zero” by a lender’s surveyor due to spray foam in the loft. For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

For more tips and money-making ideas see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  Landlords with more than three properties held in their personal name, or paying higher rate tax, should consider moving their property into a limited company to save tax. Using a company structure can also help you pass property onto children while mitigating the inheritance tax burden. It has been 5 years since George Osborne introduced his Sec 24 tax changes, penalising millions of buy-to-let landlords, but you can do something to legally avoid the ‘Osborne gut punch’.  The process is complex, legal and requires specialist advice. Landlords will incur fees, but the savings more than outweigh the costs. With the right advice you can legally create a tax-free pot of money! If you are a landlord or property investor with three or more properties in your own name and would like to save tax email or message me.  Learn why 85,000 Buy-to-Let Landlords Quit Property Rental Market - https://youtu.be/NME3nEu8dAQ  Personal Debt Soaring Citizens Advice warns Half Citizens Advice clients are falling behind with debt payments and budget. With lending interest rates rising, unlike savings rates, and soaring inflation more and more people are using expensive credit card debt to pay for food. Citizens Advice guide to dealing with debts Work out how much you owe, who to, and how much you need to pay each month Identify your most urgent debts. Rent or mortgage, energy and council tax are called priority debts as there can be serious consequences if you do not pay them, and so they should be paid first Calculate how much you can cover in debt repayments. Create a budget by adding up your essential living costs like food and housing, and taking these away from any income such as your wage or benefits you receive See how you could boost your income, primarily by checking what benefits you are entitled to, and whether you are eligible for a council tax reduction or a lower tariff on your broadband or TV package If you think you cannot pay your debts or are finding dealing with them overwhelming, seek support straightaway. You are not alone and there is help available. A trained debt adviser can talk you through the options available Source: Citizens Advice See: 10 Tips To Avoid Christmas Debt - https://youtu.be/n7vSK5LlONU The debt charity StepChange reports that the cost of living as their main reason for debt, and seven in 10 of them are women.

Pensions fall by up to 40%! Time to learn how to manage your own money. Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr UK house prices saw their worst monthly drop for over two years in November as rising interest rates slowed down the property market, the Nationwide has said. Prices fell by 1.4% from October 2022 - the largest month-on-month fall since June 2020. Annual house price growth saw a "sharp slowdown", the Nationwide building society figures revealed, plummeting to 4.4% from 7.2% in October. The lender added the housing market will "remain subdued" in the coming months. The UK government's own official forecaster predicted that house prices will fall by 9% over the next two years as affordability issues weigh on demand, and the Bank of England said we are entering the worst recession on record. Watch video on YouTube channel - https://youtu.be/oCJIAiYcbyU The average property price fell to £263,788 last month from £268,282 in October, the Nationwide said. WARNING - Spray foam insulation can render your property WORTHLESS – according to RICS surveyors. Government giving out billions in grants to homeowners to insulate and cut energy costs – including solar panels. Pension pots lose up to 40% following bond market crisis. The financial services industry has let us down with poor advice and products, low fund performance and high charges and fees. Don’t rely on the financial services industry, financial advisers or the government to fund your retirement. 3 million people have lost track of their pension pots. £27 billion in pensions lies unclaimed in insurance company coffers…visit the ‘gov.uk website to track your old pensions. Educate yourself to manage your own money, build wealth and row your own boat. Start with the basics. Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #marketing #onlinemarketing #pensions #propertyprices #propertymarket #houseprices

Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr Online marketing expert, Chadesh Parekh of NERO Digital Labs explains how to grow your online business reviews and customer feedback. Get more genuine customer reviews Use customer feedback to grow your online reputation Make more money online organically through reputational marketing Chandesh Parekh is website accessibility and inclusivity consultant, web developer and online reputation marketer. Chandesh has been professionally immersed in the world wide web for over 20 years and helps businesses with their online marketing strategies, particularly focussing on customer feedback, ratings and reviews. You can connect with Chandesh on LinkedIn on at his website. NERO Digital Labs Link: https://nerodigital.co.uk/services/reputation-marketing/ Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr

UK net migration reached a record 504,000 in the year to June, The Office for National Statistics (ONS) reports.  Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr  At the same time, the ONS also reports that rents are rising by the fastest rate since records began, despite a slowdown in property sales. Rents in the private sector have increased by 3.8pc in the 12 months to October 2022 - the biggest annual percentage change since records began in January 2016, according to the ONS rent inflation index. Business demand more migrants However, business leaders have called for higher immigration to boost growth and fill millions of job vacancies in the UK.  The number of recorded Asylum applications which includes illegal migrants trafficked in small boats across the English Channel, hit 73,000 in the year to September, around 15% of all those who arrive in the country in any given period. Migration figures reveal that a large numbers coming here from outside the European Union - 170,000 from Ukraine and 76,000 from Hong Kong under a scheme to resettle people who count as British citizens. International students Included in the net migration figures, 277,000 overseas students came to the UK study, double the number of student visas from the previous year – possibly influenced by the lifting of travel restrictions, according to the ONS.  The increase in immigration coincides with soaring rents at a time when the property sales market has slowed and thousands of landlords quit the buy-to-let property market - https://youtu.be/NME3nEu8dAQNationwide providers like Serco have earned millions housing asylum seekers and will work with private landlords.  If you live or work in the North London, Watford or Herts area you might be interested in a face-to-face networking meeting at the Beech House, 49 High Street, Watford, England, WD17 1LJ, Thursday 1 December 10am-12. For more information see: https://www.business-buzz.org/hertfordshire/business-networking-watford With the UK entering the worst recession since records began, there’s never been a more important time to get your own finances in order and learn how to manage your money and increase your wealth.  Check out my new free training to help you get control of your finances in 28 days! Free to join: https://bit.ly/3isugCr

Average rents and house prices were still rising late last year, according to official data, although experts a property market slowdown in 2023. Private rental properties owned by private landlords increased at the highest level since comparable records began seven years ago, figures reveal. House prices were still rising in the year to November 9 but falling month on month), but the Office for National Statistics (ONS) said the pace of growth slowed. Private rental prices in the UK rose by 4.2% in the year to December. Private landlords have been hit by tax and mortgage rate rises, as well as increased compliance costs, which some are passing on to tenants. The average tenant spends more proportionally on housing costs than homeowners do, and rents are usually higher than a typical first-time buyer mortgage. Other figures from the ONS showed that property prices increased by 10.3% in the year to November, slowing from 12.4% in October 2022. A 10.9% annual increase in England A 10.7% rise in Wales A 5.5% jump in Scotland and 10.7% growth in Northern Ireland. England’s prices increased the most in the northwest, up 13.5% over the year, and the slowest in London, a 6.3% increase. The average UK house price in November was £295,000 - £28,000 higher than a year earlier, a decrease from the previous month's record high of £296,000. Home buyers have been hit by the rise in mortgage costs as the Bank of England raised base rates during 2022. The average cost of a two-year fixed-rate mortgage has started to fall since last year’s market turmoil following the mini-budget, but far higher than the start of last year. The ONS reports that hundreds of thousands of UK homeowners face higher mortgage costs when their current fixed-rate deal expires this year. More than 1.4 million households will be renewing their fixed-rate mortgage in 2023 - 57% of them currently paying an interest rate of less than 2%.  A ‘ fixed-rate renewal peak’ between April and June 2023 will hit 371,000 mortgage holders when their deals expire. George Osbourne’s buy-to-let tax hike and increased legislation has led to 85,000 private landlords quitting the property rental market in the last 5 years – see https://youtu.be/NME3nEu8dAQ. Although oil and gas prices have come down in recent months, millions of people are still facing a cost of living and have no savings.  Watch YouTube video - https://youtu.be/mPvjb6MN7To How can you: Not only survive, but thrive in a recession or depression? Get control of your finances and spending? Save and invest for your future? Learn about money and finance? To help you, I am running a free training webinar.  I want to take you to the next level, help you get control of your money and become financially free.  Join me online on my free live training Wednesday at 7.30PM.  Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH #money #savings #invest #costoflivingcrisis #inflation #freetraining #interestrates #recession #economy #financialfreedom #rentalprices #propertyprices #privatelandlords #buytoletlandlord

The Bank of England cut base interest rates from 4.75% to 4.5% in February, their lowest level for 18 months and raising hopes of further cuts in 2025. But now inflation has reared its ugly head again with an unexpected rise to 3%, largely driven by higher government borrowing and spending, as well as public sector pay rises. See video version - https://youtu.be/7Sc0oL4BHdM Mortgage holders and property buyers were hoping that the Bank of England would continue cutting rates this year and whilst this could still happen there is unlikely to be a further cut when the bank’s monetary committee meets on 20 March. Higher interest rates have a direct impact on how much you can borrow to buy a property, as the banks apply strict affordability criteria. However, the government has talked about easing mortgage lending to stimulate the flagging market and help first time buyers. Higher stamp duty does NOTHING to help people who want to buy their own home. End of tax year tips As the tax year comes to a close, now is the perfect time to review your finances and take advantage of last-minute tax-saving opportunities. Rachel Reeves has talked about “simplifying” ISAs, which could mean slashing the annual allowance for savings ISAs, currently £20,000. See full video episode - https://youtu.be/uXcCqWj_xfs?si=51rN_XvVb4ntWexO Section 24 Property Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s #section24 #TaxSavingTips #EndOfTaxYear #FinanceTips #UKTaxes #WealthBuilding #MoneyManagement #PensionPlanning #TaxFreeSavings #CharlesKellyMoneyTips

One third of countries will be in recession next year, so there has never been a more important time to get your financial house in order – see my free training https://bit.ly/3isugCr to help you manage your money. In his first major speech as Chancellor, Jeremy Hunt announced £55 billion ‘fiscal squeeze’ tax changes and measures to cut the national debt whilst stimulating growth including the “biggest programme of public works for 40 years” and a plan to make the UK the world’s next Silicon Valley.  Watch video version - https://youtu.be/9Y6FcXo22jQ Markets were reassured by a steady and responsible budget. Highlights: Social rents capped at 7% next year, saving tenants an average of “£200 a year”. Social rents should increase for private landlords housing social rent tenants by 5%. National Living Wage increased and more help poorer pensions and families on Universal Credit benefits. Pensions ‘Triple Lock’ retained meaning the largest ‘inflation-linked’ increase to state pensions. Hunt wants to bring down national debt as a percentage of national debt over 5 years. Extra energy costs reach £150 billion this year – more pain for consumers next year. Corporation tax and stamp duty changes to be implemented. Capital Gains Tax (CGT) thresholds halved – another tax rise. New nuclear power station announced at Sizewell, Suffolk. Inflation is the “enemy” of growth. Jeremy Hunt. Lowering higher rate tax thresholds from £150,000 to £125,140. Freezing tax free allowances – effectively increasing taxes. ‘Fiscal drag’ means 3 million people will pay more tax. Windfall tax on energy companies increased to 35%. Electric vehicles will start paying car tax duty. OBR expects housing market to slow down – Stamp Duty reviewed. Big tech companies should pay more tax under a new international agreement. Review of “workforce participation” – get people on benefits to get a job! Crackdown on benefit fraud. Reality check. World heading into recession One third of countries will be in recession next year, so there has never been a more important time to get your financial house in order – see my free training https://bit.ly/3isugCr to help you manage your money. OBR predicts UK recession next year and low growth and 7.4% inflation next year - see 21 Money Saving Tips https://youtu.be/taJgXOqp9O0 – and negative inflation in 2025. UK inflation has hit 11.1%. Interest rates could rise again. £100 billion to service UK national debt. £177 billion more borrowing next year. Rishi gave away billions, Jeremy is taking it back, as he said, “it has to be paid for”. The UK always pays its debts, he reassured the markets. I have space now for a small group of people I can work with to mentor them to success in any economy. To help you get through this and come out stronger at the other end I am offering subscribers a Free Wealth Discovery Accelerator Call. If you are struggling to grow your income and reduce costs in the economic winter, I will personally speak to you to help you accelerate your wealth building journey.   If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call #recession #money #economy #freetraining #moneytraining #coaching #mentor #positive #makemoney #managemoney #budget #jeremyhunt #inflation #tax #fiscaldrag

For more tips and money-making ideas see my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  In the last 5 years, 85,000 landlords have quit the rental property market! Government red tape, planned legislation, increased costs and tax changes are to blame. Now they must contend with higher mortgage rates and the end to ‘no fault evictions. Demand for rental properties up 14%, some areas by 200% rise in enquiries say Rightmove. Available properties to rent dropped 35% in the last year, according to BBC report. A quarter of UK adults have less than £100 in savings, according to a survey by the Money and Pensions Service. Watch YouTube video version - https://youtu.be/NME3nEu8dAQ The research found that 17% have NOTHING set aside, 5% have less than £50 and 4% between £50 and £100 in savings. As the cost-of-living soars, the figures predict that millions of Britons living in one of the richest countries in the world have no savings. The Bank of England warns that the UK will enter the longest recession ever, as they raised interest rates by the highest level since 1989 to help fulfil their own prophecy.  Recessions create opportunities to make money and build a fortune if you have the correct mindset. For more ideas and tips, see out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr #freetraining #savemoney #moneysavingtips #mortgage #creditcarddebt #costofliving #goals #houseprices #property #getcontroloffinances #money #halifax #housingmarket #interestrates #inflation

If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call The world’s economies are in turmoil. Even the mighty German economy drag the EU into a long recession according to the EC. But what about YOUR economy? What are you doing right now in your ‘U’conomy’? Migrants do very well in a recession. Why? Because they don’t watch the news! Brian Tracy. Watch video on YouTube - https://youtu.be/USSP2m6xYmw I want to work with a small group of people to help you not only survive but THRIVE in the recession. In the meantime, here are 7 quick money tips: Cash flow – do whatever it takes (legally) to keep cash coming in. Keep working - As the late Zig Ziglar said, you don’t have to “join the recession”. He was selling pots and pans in a recession, but doubled his sales because he worked while everyone gave up and said “nobody’s got any money, don’t you know we are in a recession”. Manage money – you must get control of your finances and budget. See my free new training to help you get control of your finances in 28 days! Look for opportunities – there are millions of opportunities to make money in any economy. Get around the right people – stay away from the people who drag you down with negative talk. Stay positive and realise that winters pass – “all things must pass”, George Harrison wrote. Winters follow summers and spring follows winter. Recessions are inevitable and come and go in most decades. Get a mentor – getting a mentor, coach, mastermind group or training are the smartest things you can do, especially in an economic downturn. I have space now for a small group of people I can work with to mentor them to success in any economy. If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call #recession #money #economy #freetraining #moneytraining #coaching #mentor #positive #makemoney #managemoney #briantracy #zigziglar #jimrohn

For more more tips and money-making ideas see my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. House prices will plummet by 8% in 2023  Stay flat for the following four years, Lloyds Banking Group has predicted. Britain’s biggest mortgage lender issued a pessimistic outlook for the UK economy  Setting aside £668m to cover bad debts. The bank fears that rising interest rates – which they predict could reach 4% by 2024 - will make mortgages less affordable. ONS data says the price of the average home rose by 13.6% in the year to August to £296,000.  An 8% fall will not put values below the rapid rises over the last two years. The Bank of England hints base rates could rise by 0.75-1% when it meets in November as it fights to tackle 10% inflation. Wholesale lending rates have eased after fixed rate mortgages topped 6% following the disastrous mini budget. New buy-to-Let investment deals are no longer viable with 6%-7% mortgage costs even with a 25-30% deposit – see: Higher interest rates will KILL buy-to-let property market Cash buyers are unaffected by mortgage rates of course, but investors have traditionally used leverage and maximum borrowing to expand their portfolios, but higher rates have moved the goalposts. The Nationwide has reported that UK house prices fell for the first time in over a year last month. Prices fell by 0.9% month-on-month in October. Over 100,000 borrowers are reaching the end of their fixed rate deals every month at which time they will suffer sharp increases in payments. Many will face mortgage rises of 2-300%. Britons are facing a long winter of strikes and higher energy and food prices, despite wholesale prices of gas and oil falling from their highs. Other news Is the dollar losing its status as the world’s reserve currency? For more ideas and tips, see out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr #freetraining #savemoney #moneysavingtips #mortgage #creditcarddebt #costofliving #goals #houseprices #property #getcontroloffinances #money #halifax #housingmarket #interestrates #inflation

With energy bills, fuel and interest rates soaring, there’s never been a more critical time to make savings and learn how to manage our money to the best of our ability. I cover many more tips and money-making ideas in my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. Please LIKE and SHARE – WATCH YOUTUBE VIDEO - https://youtu.be/taJgXOqp9O0 Here are some tips to help you save and accumulate more money. 1 Pay yourself and save first, spend what’s left 2 Avoid credit card debt interest 3 Track your income and expenditure ‘T’ for ‘track’ is included in my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  4 Start saving and investing Check out www.gov.uk/individual-savings-accounts for more information. Check for the best cash ISA rates at Moneyfacts. Shop around and be prepared to move your money to obtain the best rates.  5 Emergency or contingency funds 6 Loyalty doesn’t always pay - switch suppliers Check your latest utility statements and check out comparison sites, such as uswitch or moneysupermarket. 7 Reduce your car insurance 8 Review your mortgage ‘R’ for ‘review’ is part of my programme, Master Your Money the S.M.A.R.T Way training. Check it out - https://bit.ly/3isugCr. 9 Check your tax code to pay less to HMRC  10 Look for old bank accounts and pension policies  11 Check for any entitlements to benefits. 12 Reduce your grocery bill  13 Avoid wasting food  14 Explore local charities for help – there is an abundance of food given away by supermarkets 15 Check your workplace or private pension 16 Check your state pension and NI contributions level 17 Use loyalty cards, price match and vouchers and deal finders  Try hacks like VoucherCodes ‘DealFinder’ as a plug-in on Chrome to be alerted to the best deals while buying online. There are hundreds of money saving apps and discount offers, such as Sweatcoin and BetterPoints, where you can get paid to walk and exchange your steps for store discounts and freebies. 18 Cut energy bills  Check out the Energy Saving Trust for some great energy and money saving hacks.  19 Sell unwanted stuff on resale platforms You can turn unwanted clothes into cash using resale platforms such as Depop, Vinted and eBay. 20 Mindset – avoid emotional spending and blowing your salary on payday In my programmes and YouTube Money Tips Podcast videos I talk about money mindset. A recent survey by Nationwide’s Payday Saveday revealed that 1 in 5 people blow over half their spare monthly wages within 48 hours of payday!  21 Plan, organise and forecast The key is in planning and organising your expenditure, work, goals, relationships and life! As in the first tip, prioritise essential expenditure and your savings pot, before spending.  Finally, searching for the best deals, tracking and reviewing your finances and being mindful of spending money on things to don’t really need will not only help you get through the current crises but help you form lifelong habits that will enable to build wealth. For more ideas and tips, see out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr #freetraining #savemoney #moneysavingtips #mortgage #creditcarddebt #energybill #costofliving #goals #foodbank #getcontroloffinances #money

Truss DOWN but Mortgage Rates UP to 14-Year High as 100,000 borrowers reach end of fixed rate deal every month Prime Minister Liz Truss resigns after 38 days in office following a tumultuous few weeks A new party leader and Prime Minister will be voted in by members by 28 October Will ‘the markets’ get the leader they want with higher taxes, pain and austerity? As mortgage rates hit new high, 100,000 reach end of fixed rate deal every month Average two and fiver-year fixed rate deals reach 6.65% and 6.51% Bank of England will raise rates again next month to fight inflation Food prices rise at fastest rate for 42 years Tax plans and Hunt budget in doubt Markets and Pound rise on news Watch video version - https://youtu.be/bYVdg1ySjuM What does this mean for you? FINANCIAL EDUCATION FOR FINANCIAL FREEDOM Whatever you do, don’t do ANYTHING unless you are financially educated. Can you change the economy, market or government policy? No! Can change YOUR economy (Uconomy), your policy, your financial and money management and your earnings? YES! With the cost-of-living crisis getting worse, there’s never been a better time to learn how to get control of your money and change your financial blueprint. Check out my new training to help you get control of your finances and learn how to build real wealth in 28 days! Click to join: https://bit.ly/3isugCr#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage #jeremyhunt #tax #liztruss

Check out my new training to help you get control of your finances and learn how to become financially free in 28 days!  Click to join: https://bit.ly/3isugCr Example of buying a £500,000 property with a £20,000 a year rent or 4% yield. That’s all very well but if you are then borrowing money on say an 80% mortgage, in the past your mortgage payments based on a 2% interest rate would be £8000 a year leaving you a gross profit before cost of £12,000 per annum. Then interest rates went up to 4% meaning that your mortgage payments rose to £16,000 per annum. Watch video version on my YouTube channel, Charles Kelly Money Tips Podcast https://youtu.be/JarTWcAvAoc At 5% your mortgage payments will be £20,000, in which case you would not even break even after paying costs such as insurance and letting agency fees. At 6% per annum your mortgage payments would be £24,000 a year leaving you with a loss of £4000 per annum before costs. However, that’s not the whole story. Rates are expected to go higher and have already breached 6% for the residential market based on five-year fixed rates. At 8% the interest only mortgage on a £400,000 loan Will be £32,000 a year. Even if you only borrowed £300,000, the mortgage payment will be £24,000 a year not only leaving you a loss but an obtainable from the lender which would want a buffer zone in case of rental void.  The higher the interest rate the less you can borrow. It’s unlikely that the lender would give you more than £200,000 based on an 8% interest rate, which would mean that you would need £300,000 as a deposit. In short, higher interest rates will wipe out any hope of a monthly residual yield or profit for buy to let buyers using islands value by to let mortgages. Bearing in mind that the high growth model for most investors is based on using maximum leverage and borrowing against their properties, higher interest rates will wipe out a large percentage of the potential buyers as the deals no longer stack up.   Learn how to invest and build wealth. The Bank of England were forced to bail out the pensions industry after it nearly collapsed and brought down the financial industry with it. Whatever you do, don’t do ANYTHING unless you are financially educated. Question: What can you do to change the economy, market or government policy? Answer: Nothing! Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings? Answer: EVERYTHING! With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint. Check out my new training to help you get control of your finances and learn how to become financially free in 28 days! Click to join: https://bit.ly/3isugCr   #money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage 

New warnings of a housing slowdown were issued this week as the number of people struggling with mortgages are forecast to reach a 15-year high, the Royal Institute of Chartered Surveyors (RICS) said. The RICS is the body which regulates and controls the surveyor who carry out surveys and valuations for all the major lenders in the UK. Subscribe to FINANCIAL EDUCATION FOR FINANCIAL FREEDOM for exclusive training and special offers to help you manage and increase your wealth! Details: House sales in September hit their lowest levels since 2020/21 Rising mortgage rates will drive house prices down this year, say RICS Bank of England said this week the number struggling to pay mortgages will rise next year New house buyer inquiries fell in September for he fifth month in a row, say the RICS. Fewer properties for sale has pushed up housing prices, but warned this will end. Banks, such as HSBC have issued similar warnings of a housing market slowdown Higher interest rates will make buy-to-let purchases unsustainable Fixed rate deals have reached around 6%, a 300% rise and a gamechanger  Mortgage lenders will not lend to investors if deals do not stack up financially Up to 200,000 households will need to remortgage in the next year, say BBC. The news comes of top of a brewing financial crisis in the City of London as the Bank of England are again printing money to bail out financial institutions – this time it’s the people running your pension funds. Tail wagging the dog as centrals banks tell elected governments how to run the country! Question: What can you do to change the economy, market or government policy? Answer: Nothing! Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings? Answer: EVERYTHING! Subscribe to FINANCIAL EDUCATION FOR FINANCIAL FREEDOM for exclusive training and special offers to help you manage and increase your wealth!

In this podcast, I take you through the basics of getting control of your finances and learning how to become financially free. Watch video version - https://youtu.be/J8xSMrLDsNw With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint. Check out my new training to help you get control of your finances and learn how to become financially free in 28 days! Click to join: https://bit.ly/3isugCr If you’re REALLY serious and want to get started right away…Claim your free Wealth Accelerator Discovery Call with me now: https://calendly.com/charleskelly/wealth-accelerator-discovery-call   #money #business #stockmarket #property #foodprices #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining

What can you do transform your finances and become financially free? To help you get through this and come out stronger at the other end I have prepared a brand-new training, which you can access right now from the comfort of your home. Check out my new training to help you get control of your finances and learn how to become financially free in 28 days! - Click to join: https://bit.ly/3isugCr ******** Labour plans sweeping private rental reforms in the buy-to-let property market  Labour's Shadow Levelling Up, Housing & Communities Secretary, Lisa Nandy, laid out the party's plans to reform the private rented sector on Monday. In her speech she essentially promised that, should Labour come to power, rent payments will be considered an ‘optional extra’ for tenants, with the party planning to end automatic repossessions for rent arrears. Source NRLA Watch video version - https://youtu.be/oRXiwu_ekBQ In this video we also talk about: 1 Pound, Dollar and Euro all at same rate 2 Pension funds dump shares and bonds, FT reports 3 UK economy grew by 0.2% in second quarter to avoid recession 4 Energy prices in the UK rise 1 October despite government cap 5 US stocks record longest run of quarterly losses since 2008 market crash ******* Thank you for taking the time to watch my YouTube channel! I am delighted that my YouTube has grown into 2.25k subscribers because of your support! To help me give you a FREE and informative content please do press the “LIKE” button if you think I made a valuable content in this channel. Do “SHARE”, “SUBSCRIBE” and hit the “NOTIFICATION BELL” so you won’t miss any valuable content in my channel. ******* #freetraining #business #money #savemoney #buytoletinvestor #propertyinvestor #mortgages  #financialfreedom #economy #money  #buytolet #investing #property #houseprices #interestrates #inflation #wealth #taxcuts #kwasikwarteng #labour #rentalreform #lisanandy

UK Chancellor Rachel Reeves has talked about “simplifying” ISAs, which could mean slashing the annual allowance for savings ISAs, currently £20,000. The government wants your money… Watch full video at Charles Kelly Money Tips Podcast - https://youtu.be/uXcCqWj_xfs They don’t produce wealth, they just tax those who do! They take from us to spend our money. High taxation is one of the reasons 10,000 millionaires left the UK last year. Check out my video on this. As the tax year draws to a close, now is the perfect time to review your finances and take advantage of last-minute tax-saving opportunities. In the latest episode of the Charles Kelly Money Tips Podcast, we break down essential end-of-tax-year tips to help you reduce your tax bill legally and keep more of your hard-earned money. 1. Maximize Your ISA Allowance You can save up to £20,000 tax-free in an Individual Savings Account (ISA). If you haven’t used your full allowance, now is the time to top it up. 2. Utilize Pension Contributions Contributing to your pension not only grows your retirement fund but also reduces taxable income, with tax relief of up to 45% for higher earners. We don’t know how long this tax concession will last. 3. Claim Allowable Expenses Self-employed? Ensure you claim all deductible expenses, such as home office costs, travel, and professional fees, to lower your taxable profit. 4. Use Capital Gains Allowance Sell assets strategically to take advantage of the current capital gains tax-free allowance before it resets in the new tax year. 5. Gift Money IHT Tax-Free Use your annual £3,000 inheritance tax gift allowance to pass on wealth without tax implications. Use it or lose it. 6. Use your accountant, tax specialist, financial adviser and other professionals to save you money. Good advice can save you a fortune. Invest in yourself. Don’t miss out on these end-of-tax-year strategies—watch the full video now! 7 Powerful Steps to Transform Your Finances in 2025 As we move closer to 2025, now is the perfect time to take charge of your finances and make it your most successful year yet. In the latest episode of the Charles Kelly Money Tips Podcast, we explore actionable strategies to help you achieve financial freedom and build wealth. Watch full video - https://youtu.be/-k7HPn0u_Ok?si=j6ZpuTlRyCJzuIxY Section 24 Property Landlord Tax Hike Interview with Chartered Accountant and property tax specialist who reveals options and solutions to move your properties from your own name into a limited company or LLP whilst mitigating the potential HMRC pitfalls. Email charles@charleskelly.net for a free consultation on how to deal with Section 24. Watch video now: https://youtu.be/aMuGs_ek17s #section24 #TaxSavingTips #EndOfTaxYear #FinanceTips #UKTaxes #WealthBuilding #MoneyManagement #PensionPlanning #TaxFreeSavings #CharlesKellyMoneyTips

The Bank of England may have to raise base interest rates again to prevent pound sterling from collapsing against the US dollar after it fell to an all-time low of just over parity 1.03 this week following the Friday’s mini-budget. Please LIKE and SHARE this free content and watch until the end for a special offer. Last week, the Chancellor Kwasi Kwarteng cut taxes, as well as Stamp Duty for 200,000 homebuyers to stimulate the property market a day after the Bank of England (BoE) raised the UK base interest rate from 1.75% to 2.25% to combat inflation warning that the country “may” already be in recession.  The independent BoE move followed the Federal Reserve’s 0.75% hike last week putting further pressure on UK bonds and sterling. Mortgage lenders have pulled fixed rate deals in anticipation of an early rate rise. How high will interest rates go? The Bank of England’s Monetary Policy Committee (MPC) meets in less than two week on 3 November and could be forced to raise rates again. The markets expects rates to rise to 4.5% by next year, which could push mortgage rates to over 7%, a level I have not seen for 20 years. Now could be the time to get advice from a broker about fixing your mortgage rate for at least 3-5 years. If you are already in a fixed rate deal and have a year or two left, you might want to consider switching to a longer-term rate even if you have to pay a small ERC – early redemption charge or penalty. Talk to a broker to weigh up the costs and benefits or do your own calculations by factoring in an interest rate of around 4.5%. With 10% inflation and a weak pound, interest rates are on an upward trend, so take action now to protect yourself. What can you do transform your finances and become financially free? Are you struggling with money or the cost-of-living crisis? To help you get through this and come out stronger at the other end I have prepared a brand-new training, which you can access right now from the comfort of your home. Claim your free Wealth Accelerator Discovery Call with me: https://calendly.com/charleskelly/wealth-accelerator-discovery-call #freetraining #business #money #savemoney #buytoletinvestor #propertyinvestor #mortgages  #financialfreedom #economy #money #rentalproperty #buytolet #investing #property #houseprices #interestrates #inflation #wealth #peer-to-peerlending #taxcuts #kwasikwarteng

For more tips and money-making ideas see my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.  The Bank of England warns that the UK will enter the longest recession ever, as they raised interest rates by the highest level since 1989 to help fulfil their own prophecy. Watch YouTube video - https://youtu.be/JsSToglvyls The Bank of England warns the UK facing longest recession since records began. Misery for mortgage borrowers as MPC raises interest rates by the most in 33 years to 3%. Base interest rates hiked again from 2.25% to 3% - the biggest jump since 1989. Banks predicts a "very challenging" 2-year slump with unemployment doubling by 2025. Bank hope to bring down soaring prices as the cost of living rises at its fastest rate in 40 years. For more ideas and tips, see out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr #freetraining #savemoney #moneysavingtips #mortgage #houseprices #energybill #costoflivingcrisis #interestrates #bankofengland #foodbank #getcontroloffinances #money

The Chancellor Kwasi Kwarteng has cut Stamp Duty for 200,000 homebuyers to stimulate the property market a day after the Bank of England (BoE) has raised the UK base interest rate from 1.75% to 2.25% to combat inflation and warning that the country “may” already be in recession. A recession is officially measured by two negative growth quarters, which has not yet been recorded. The independent BoE move follows the Federal Reserve’s 0.75% hike this week. UK borrowing costs are now at their highest levels since 2008 putting pressure on mortgage holders and the housing market. The new rate rise alone could add up to £690 per annum or £57 per month to an average variable rate mortgage (on top of previous rate rises), although not all lenders follow the BoE base rates. Mortgage brokers are reporting long delays in obtaining an offer and fixed rate deals being pulled at short notice. Inflation has dipped slightly to 9.9% but is still at a 40-year high in most western countries. The pound fell again to $1.11, which means the markets have no confidence in the currency. Everything the UK imports is now being inflated by a weak pound. Watch video on YouTube - https://youtu.be/8d2RYNaV5jM How high will interest rates go? The Bank of England’s Monetary Policy Committee (MPC) meets in less than two week on 3 November and could be forced to raise rates again. The markets expects rates to rise to 4.5% by next year, which could push mortgage rates to over 7%, a level I have not seen for 20 years. Now could be the time to get advice from a broker about fixing your mortgage rate for at least 3-5 years. If you are already in a fixed rate deal and have a year or two left, you might want to consider switching to a longer-term rate even if you have to pay a small ERC – early redemption charge or penalty. Talk to a broker to weigh up the costs and benefits or do your own calculations by factoring in an interest rate of around 4.5%. With 10% inflation and a weak pound, interest rates are on an upward trend, so take action now to protect yourself. Buy-to-Let yields will look very different at those levels, yet investors still see property as a safe long-term haven for their cash. Property values in most areas usually grow in the long term and inflation reduces the real value of a mortgage debt. There is still a shortage of suitable properties and demand for bricks and mortar. Highly geared property investors with large amounts of debt could get into trouble leading to more repossessions. A recession could see commercial landlords coming under pressure as business suffers, which means more opportunities for some investors. The government do not want the property market to crash and will be announcing measures to stimulate the market for fist-time buyers. The stock market is another story and has already started to slide this year. Rates for savers have barely moved. Some savers are turning to funding property transactions either through peer-to-peer lending platforms or direct to property investors – cutting out the banks. However, lending out your money in this way carries a far greater risk. Stamp Duty Cut Threshold raised from £125,000 to £250,000. First-time buyer nil rate band lifted to £425,000. 200,000 people will be taken out of Stamp Duty tax altogether. The April NI tax rise has been reversed saving employees and employers hundreds of pounds a year. Income tax reduced to 19% from April 2023 giving back £170 to 31 million people. Highest rate of 45% abolished. All goo d news but more money is effectively being printed and the national debt increased or deferred, which means paper currency is being devalued. Corporation tax rise cancelled. Bad news for HMO Landlords The government plans to introduce legislation to force landlords who include bills as part of the rent to “repay” the £400 rebate to the tenant! What can you do transform your finances and become financially free? Are you struggling with money or the cost-of-living crisis? To help you get through this and come out stronger at the other end I have prepared a brand-new training, which you can access right now from the comfort of your home. Claim your free Wealth Accelerator Discovery Call with me: https://calendly.com/charleskelly/wealth-accelerator-discovery-call #freetraining #business #money #savemoney #buytoletinvestor #propertyinvestor #mortgages  #financialfreedom #economy #money #rentalproperty #buytolet #investing #property #houseprices #interestrates #inflation #wealth #peer-to-peerlending #taxcuts #kwasikwarteng #budget #stampduty