In this Money Tips Podcast:

Inflation has fallen from 11% to 2.2% yet the Bank of England base interest rate remained at 5%.

Energy prices will rise by 10% in October – time to fix your deal.

“Painful budget” could see higher capital gains (CGT) and inheritance (IHT) taxes, the end of the single persons council tax discount and a possible wealth tax.

Section 24 landlord tax forcing landlords to rethink buy-to-let, but the is a solution.

Protect your assets.

Watch video version - https://youtu.be/Tq1P2UbYp4A

Labour Hint Of Wealth Tax, Higher Inheritance and Capital Gains Taxes And “Painful” October Budget

Concerns over potential tax hikes, as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax, are already causing an exodus of the rich.

Watch full video version -  https://youtu.be/P0WTdbIAuks

How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords?

The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively.

Watch video version - https://youtu.be/Wx1HXgVW1bM

Section 24 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

#finance #moneytraining #moneymanagement #wealth #money #marketing #sales #debt #leverage #property #investment #Homeownership #financialplanning #moneymanagement #financialfreedom #section24tax #financialindependenceretireearly #RentersRightsBill #BuyToLet #LandlordLife #UKPropertyMarket #TenantsRights #RentalProperty #PropertyInvestment #LandlordChallenges #RentControl #PropertyStandards #UKProperty #PropertyInvestment #RentToRent #JointVenture #NoMoneyDown #PropertySourcing #CharlesKellyMoneyTips #FinancialFreedom #PropertyDeals #bankofengland

As Labour warn of a “painful” budget and a “broken” economy, the wealthy are leaving the UK or making plans to relocate to lower tax countries.

The Swiss bank, UBS, predicts it its latest Global Wealth Report that 500,000 millionaires will leave the UK by 2028, a 17% fall.

Watch video version - https://youtu.be/P3AaRyeqZfA

The FT said the UK will lose the most millionaires among the countries covered by UBS due to a combination of threatened ‘non-dom’ taxation, higher taxes and Russian sanctions, which has also seen billions flow out of the country.

UBS’s report estimates that $83.5tn of wealth would be transferred within the next 20 to 25 years.

This puts in doubt London's position as a haven for the global elite, currently a haven for the third highest number of dollar millionaires after the US and China.

At the same time, low growth and high taxes and regulation is moving global investment to countries where the see more opportunity in Asia, North and South America and Africa, according to the media tycoon Sir Martin Sorrell.

Taiwan has seen the highest growth of millionaires largely due to high tech growth businesses in the microchip sector.

Labour Hint Of Wealth Tax, Higher Inheritance and Capital Gains Taxes And “Painful” October Budget

Concerns over potential tax hikes, as the Labour Party hints at plans to raise Inheritance Tax (IHT), Capital Gains Tax (CGT), and even introduce a wealth tax, are already causing an exodus of the rich.

Watch full video version -  https://youtu.be/P0WTdbIAuks

How will Labour’s new Renters Rights Bill 2024 affect buy-to-let landlords?

The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively.

Watch video version - https://youtu.be/Wx1HXgVW1bM

Section 24 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

#finance #moneytraining #moneymanagement #wealth #money #marketing #sales #debt #leverage #property #investment #Homeownership #financialplanning #moneymanagement #financialfreedom #section24tax #financialindependenceretireearly #RentersRightsBill #BuyToLet #LandlordLife #UKPropertyMarket #TenantsRights #RentalProperty #PropertyInvestment #LandlordChallenges #RentControl #PropertyStandards

The Labour Party’s Renters' Rights Bill 2024 is poised to bring significant changes to the UK’s rental market, impacting both tenants and buy-to-let landlords. Understanding these changes is crucial for landlords to navigate the evolving landscape effectively.

Watch video version - https://youtu.be/Wx1HXgVW1bM

Key Changes Proposed in the Renters' Rights Bill 2024

• Enhanced Security for Tenants

The bill aims to provide tenants with greater security by abolishing Section 21 “no-fault” evictions. This means landlords will no longer be able to evict tenants without a valid reason, making it more challenging to regain possession of their properties.

• Rent Controls

One of the most contentious aspects of the bill is the introduction of rent controls. The government plans to cap rent increases, tying them to inflation or another measure. This change is intended to prevent excessive rent hikes but may limit the profitability for landlords.

• Mandatory Property Standards

The bill also proposes stricter property standards, requiring landlords to ensure their properties meet higher quality benchmarks. This includes ensuring proper insulation, energy efficiency, and overall habitability. Non-compliance could result in hefty fines or penalties.

• Longer Tenancy Agreements

Labour advocates for the standardization of longer tenancy agreements, such as three-year contracts, to provide tenants with more stability. While this benefits tenants, landlords may find it challenging to adapt to longer commitments.

Impact on Buy-to-Let Landlords

• Financial Implications

The introduction of rent controls could impact landlords’ rental income, especially in high-demand areas where they previously enjoyed significant annual increases. Landlords must re-evaluate their financial projections and strategies to maintain profitability.

• Increased Regulatory Compliance

With stricter property standards, landlords will need to invest in property upgrades to meet the new requirements. This could involve substantial upfront costs but may also enhance property value and appeal in the long term.

3.Changes in Investment Strategies

The bill may lead to a shift in investment strategies among buy-to-let landlords. Some might seek to diversify their portfolios or explore other property markets with less stringent regulations. Others might exit the rental market altogether if the perceived risks outweigh the benefits.

• Impact on Property Supply

As landlords adjust to these changes, there could be a temporary reduction in the supply of rental properties. Some landlords might sell their properties, leading to a more competitive market for remaining rental units.

In conclusion, the Labour Party’s Renters' Rights Bill 2024 is set to bring comprehensive reforms to the rental market. While these changes aim to protect tenants and ensure fair practices, buy-to-let landlords will need to adapt to new regulations and potentially alter their investment strategies. Staying informed and proactive will be key for landlords to navigate this evolving landscape successfully.

Section 24 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

#finance #moneytraining #moneymanagement #wealth #money #marketing #sales #debt #leverage #property #investment #Homeownership #financialplanning #moneymanagement #financialfreedom #section24tax #financialindependenceretireearly #RentersRightsBill #BuyToLet #LandlordLife #UKPropertyMarket #TenantsRights #RentalProperty #PropertyInvestment #LandlordChallenges #RentControl #PropertyStandards

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:

1. Cash flow – do whatever it takes (legally) to keep cash coming in.
2. 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”.
3. 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!
4. Look for opportunities – there are millions of opportunities to make money in any economy.
5. Get around the right people – stay away from the people who drag you down with negative talk.
6. 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.
7. 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

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#freetraining #business #money #savemoney #buytoletinvestor #propertyinvestor #mortgages  #financialfreedom #economy #money  #buytolet #investing #property #houseprices #interestrates #inflation #wealth #taxcuts #kwasikwarteng #labour #rentalreform #lisanandy

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

Summer school holidays are here, and this is the perfect time to explore the UK with your family without breaking the bank. 

Watch YouTube video: https://youtu.be/IWMz3-7LuT0

Here are 20 free activities to enjoy together:

1. Visit the British Museum in London.
2. Explore the Natural History Museum.
3. Take a stroll in Hyde Park.
4. Discover the wonders of the National Gallery.
5. Enjoy a day out at the beach.
6. Hike in the Lake District.
7. Wander through Edinburgh’s Royal Botanic Garden.
8. Explore the historic streets of York.
9. Visit the Tate Modern in London.
10. Have a picnic in Richmond Park.
11. Explore the ruins of Fountains Abbey.
12. Walk along Hadrian’s Wall.
13. Discover street art in Bristol.
14. Visit the Scottish National Gallery.
15. Enjoy a day at the V&A Museum.
16. Explore the beautiful Kew Gardens.
17. Walk through the scenic Peak District.
18. Visit Liverpool’s Walker Art Gallery.
19. Explore the stunning landscapes of Snowdonia.
20. Discover the history at the Imperial War Museum.

Could you do more with your money and finances? Join my free webinar, "3 Steps to Money Management and Unlocking Financial Freedom," to learn how to get control of your money, invest wisely, and achieve financial freedom. 

Join me online on Wednesday at 7:00 PM. Places are limited, so register now below to avoid disappointment.

Register Here - https://bit.ly/3QPp8IH

#FamilyFun #FreeActivities #UKSummer #MoneyManagement #FinancialFreedom #Investing #WealthCreation #Budgeting #FamilyAdventures

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.

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Landlords switching to holiday lets and SA (Serviced Accommodation) for less regulation and higher profits.

Rent controls will drive private landlords away, reduce inventory and increase rents for tenants.

World Banks say central bank interest rate hikes could cause a 2023 recession.

US Mortgage Rates hit 14-year high as Pound falls to 37-year low against US Dollar.

How will higher interest rates affect property prices, wider economy and stock market?

Higher interest rates increase the cost of money or borrowing and has the effect of slowing down economic growth, profits and ultimately stocks and share prices.

Property prices are higher than a year ago, but the rate of price growth is slowing.

Corporate insolvencies have jumped in England and Wales, as economic conditions and inflation start to hurt businesses. A bell weather company, FedEx, saw its shares plunge after a profit warning linked to a gloomy economy.

When times are good, and borrowing is cheap everyone buys more on credit and the economy expends. But the cycle never lasts, as we cannot keep on borrowing and creating money out of thin air forever…

The party is over!

Inflation is running out of control, which means the central banks will have to tighten monetary policy and pull back the reins on the economy. 

Now is the time to learn how to manage your money and prepare for the financial winter.

• Do you have any savings?
• Do you know how to invest or where to invest your money to build financial freedom?
• For how long could you pay your bills if you lost your job?
• Are you fed up struggling?

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.

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Before I answer that question, what do you think? I’ve seen a lot of comments like this on social media and wanted to say a few words about one of her biggest contributions to the UK.

Leaving aside her support for over 600 charities, and numerous civic duties and constitutional duties which saw her work but over 70 years until almost the day she died, the Queen has made one huge contribution to the UK economy:

Tourism

The Queen and the royal family have attracted billions of pounds and millions of tourists over the years, and she’s still packing them in now. London is booming with visitors and hotels are full.

When her coffin was being driven from Balmoral to Edinburgh, use cameras in a helicopter followed the procession for the entire six-hour journey. Viewers were treated to the glorious beauty of the Scottish Highlands, villages and then Edinburgh. You cannot buy that sort of publicity.

Do you think Scotland will benefit from six hours of free publicity? Hell yes!

Prince Charles is a brand William and Kate are a brand and Harry and Megan have shown how are you can literally monetise the brand to the tune of millions of dollars.

Imagine if the Queen has gone down that road? I’m only saying this to illustrate the untold value of the royal band which goes back to UK PLC at large.

Hotels, restaurants, bars, shops, airports, taxi drivers, support staff and thousands of workers all benefit from tourism, which is one of the biggest industries in the UK. There is no doubt that the rules have contributed hugely to UK tourism and the wider economy.

How much is the Royal Family ‘brand’ worth?

In 2017, business insider.com estimated the royal family ‘s brand was worth £67 billion and said that the royal family contributes £2.4 billion to the UK economy every year.

What is world’s most valuable brand?

It used to be Coca-Cola but is now dominated by recently formed tech and Silicon Valley companies.

According to Kantar BrandZ the top 10 most valuable global brands are:

1. Apple
2. Google
3. Amazon
4. Microsoft
5. Tencent
6. McDonalds
7. Visa
8. Facebook
9. Alibaba
10. Louis Vuitton

Source: Kantar.com 

The Apple brand is estimated to be worth nearly $1 trillion with Google and Amazon not far behind.

China has two companies in the top 10, Tencent and Alibaba, and the only non-US company is Louis Vuitton a French company. 

What can you do to develop your own brand?

What can you do transform your finances and become financially free?

Are you fed up struggling?

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Newly appointed Chancellor, Jeremy Hunt MP, has ripped up his predecessor’s doomed mini budget after replacing Kwasi Kwarteng MP on Friday. 

Wholesale government borrowing interest rates have stabilised after Mr Hunt steadied the ship and restored confidence in the ‘markets’, which have now factored in an interest rate peak next May of just over 5%.

SCRAPPED

INCOME TAX 

Jeremy Hunt ditched the plan to cut the basic rate by 1p from April.

Planned cut to corporation tax.

ENERGY BILLS

The typical household energy bill has been capped at £2,500 for the next two years.

The 'guarantee' policy was estimated to cost the government over £100billion. 

Now expected to be overhauled, with help targeted on the poorest after April.

DUTY-FREE SHOPPING FOR TOURISTS 

EASING IR35 RULES FOR SELF-EMPLOYED

DIVIDEND TAX CUT 

REMAINING

STAMP DUTY

Stamp duty was abolished under £250,000 at the mini-Budget, with first-time buyers exempt on up to £425,000.

That has already taken effect, and Mr Hunt said it will stay in place.

NATIONAL INSURANCE

The government promised to reverse the increase to National Insurance.

FINANCIAL EDUCATION FOR FINANCIAL FREEDOM

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?

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In a momentous week the UK has witnessed a new incoming Prime Minster, Liz Truss, new government and team, change of housing minister and a new Head of State, King Charles III.

What does this mean for property investors?

Key Takeaways:

• Queen’s death Bank of England delays base interest rate decision on 22 September.
• UK interest rates were predicted to rise to 2.25%.
• Economy still in trouble, but Liz Truss in borrowing over £100 billion to pump more money in to boost jobs and growth.
• Massive infrastructure projects.
• Energy bills capped.
• Green levies halted.
• Move away from obsession with everything going ‘green’?
• HMO and SA landlords will be pleased to hear that bills are being capped.
• Will we see any changes to renters reform or legislation on EPCs?
• Mortgages are becoming more difficult to obtain and rates are going up.
• Investors looking to the north for higher yields – 7 to 10%.

In my book, Borrow and Grow Rich, I show you how the wealthy have used OPM (other people’s money) to create huge fortunes for centuries.

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The new UK Prime Minister, Liz Truss, has announced plans in the commons today to limit energy bill rises for all households for two years to help millions of people falling into hardship this winter.

A typical household energy bill is to be capped at £2,500 annually until 2024.

Businesses will receive support for six months.

The huge support scheme could cost up to £150bn, although the total cost will depend on future wholesale fuel prices.

The energy price cap - the maximum amount suppliers are allowed to charge households for every unit of energy - was been due to leap to £3,549 in October, a move which would have caused widespread fuel poverty.

Under the Liz Truss scheme, the government will compensate energy firms for the difference between the wholesale price for gas and electricity they pay and the amount they can charge customers. 

The government will suspend green levies - which add £150 to bills each year - which the £2,500 cap accounts for.

A previously announced £400 energy bills discount for all households will go ahead. Taken together, the government said this "will bring costs close to where the energy price cap stands today".

Most people’s bills are still double where they were before the Russian invasion of Ukraine, but would have soared if the price cap was lifted again next month.

Why do so many people depend on government aid?

The majority of working people have no savings and live month-to-month throughout their lives.

Retirement planning is woefully inadequate which means millions of pensioners are dependent on the state to make ends meet.

According to the DWP report in August 2019:

• 20 million people claiming DWP benefits.
• Two thirds of benefit claimants, or 13 million, are of State Pension Age.
• The number of people receiving State Pension has fallen to 12.6 million partly due to the retirement age being pushed back.

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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

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• Sterling crisis could drive up interest rates
• First time buyers are the largest buyer group in the country but they’re about to be hit with higher interest rates. Here’s what’s happening and how you can offset the rising rates.

Key takeaways

• First time buyers, the largest buyer group in the UK with nearly 177,000 transactions so far in 2022, will need an average of £12,250 more on their income to get a mortgage based on 4% interest rates 
• A whopping £34,500 extra is needed in the London market, but less than £5,000 in more affordable regions
• Property interest among FTBs is up by 46% year on year as they drive the market from the bottom up.
• More than half of their enquiries for three bedroom homes and an average price 10% higher than this time last year (£269,000).
• FTBs are looking further afield in cheaper areas to buy a home, meaning less time spent saving up for a deposit.
• Zoopla data shows that 25% of first time buyers outside of London are now searching 10km or more from their home address.  Source: Zoopla

Is it still cheaper to buy than rent?

Comparing the cost of renting and buying, Zoopla examined whether a renter can afford to buy the home they live in.

You would save an average of £200 by paying a mortgage (with a 2.5% rate) rather than renting.

On a 4% interest rate, it’ll still be slightly cheaper to pay a mortgage than to rent in most places.

But buying will edge into being more expensive than renting in the high value areas of London and the South of England.

5 Tips To Help First Time Buyers:

1. Broaden your search area

Obvious, but makes sense if you rent in a city centre.

2. Use a government buying scheme

The government has launched several first-time buyer schemes to help you get on the property ladder.

The Help to Buy Equity Loan scheme is a popular choice but ends in October. 

The First Homes scheme offers discounts of between 30% and 50% on new build properties to local first-time buyers and key workers.

There are several other schemes that can help you get on the ladder too.

3. Team up with friends or family to get a bigger deposit

Offset rate rises by coming up with a bigger deposit.

Many are turning to family members or pairing up with partners or friends to get a deposit together.

Use the available ISAs and tax free savings schemes to save for a deposit.

Many parents and grandparents use ‘equity release’ schemes to help fund a deposit.

4. Do your homework on different types of mortgages

Learn how different types of mortgages are impacted by base rate changes.

Speak to a mortgage advisor. Some specialise in first time buyer mortgages, so tap into their knowledge as well as doing your own research.

5. Keep up with your local market

Local housing markets all different to the national picture and you’ll be in the best position to get on the market at a good price if you know what’s happening nearby.

Sterling crisis could drive up interest rates

Interest rates and inflation could soar if the Pound continues to fall against the Dollar.

Goldman Sachs predict that inflation could reach 20%!

Energy will rise again next month, food prices are rising at more than 10% and unions are striking for higher pay deals and some want to minimum wage to go up to £15 per hour.

Germany now has the highest inflation rate for 40 years.

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Following the Queen’s funeral, it is time to get back to the reality of the crisis we are facing in the UK.

UK interest rates set to rise again this week by the biggest margin in 33 years, as pound slides against the US dollar. Sterling has fallen to a 37 year low against the US dollar, the reserve currency of the world. 

This means that the UK is paying 15-20% more for imports, such as oil, on top of all the other factors causing prices to rise at the fastest rate since the early 80s. 

More misery than expected for mortgage holders when the Bank of England monetary policy committee meets this week (following a delay for the Queen’s period of mourning) to set UK base interest rates. The new Chancellor Kwasi Kwarteng will announce his first mini-budget on Friday.

Rates could rise by at least 0.5%-0.75% or even 1% this week. A 0.75% hike would mean that the average mortgage holder, with a loan of £138,000, will be paying an additional £728per annum (based on a variable rate loan).

Whilst most mortgage holders have a fixed rate mortgage, when these deals come to an end, borrowers will suffer a steep rise in monthly payments.

The days of low interest rates and cheap borrowing have come to an end for the time being. 

The Federal reserve has been aggressively raising interest rates to come back inflation which has strengthened the dollar and weakened sterling and the euro.  

Higher interest rates means that buy-to-let investors taking out a mortgage will need to carefully examine the viability of rental properties based on increased loan repayments. Average yields will be hit by higher mortgage costs which have doubled in many cases. 

Mortgage lenders are already factoring in higher interest rates when calculating affordability and borrowing levels. Higher rates usually results in lower mortgage loans for borrowers.

Businesses borrowers also face huge additional costs on top of the cost of running the businesses with higher oil and power prices. Insolvencies in England and Wales are up as thousands of businesses go to the wall.

Higher interest rates and tighter monetary policies, designed to control inflation, will cause the worldwide economy to slow down.

Unfortunately, low paid workers and small businesses get hit hardest as if you can survive very long during a recession.  

In the last 10 years, consumers have taken on enormous amounts of cheap and plentiful debt on their homes, as well as to purchase luxury items such as cars, boats and recreational vehicles.

This is all very well as long as they have income to service the debt when income slowdown people get into trouble and business for debt collectors and bailiffs starts the boom.

Expect to see more repossessions of homes and cars next year.

In my S.M.A.R.T money course, I always stress that borrowing to buy consumer goods - which go down in value - is a bad idea.  

Now is the time to prepare for the economic winter ahead.

Get your house in order and fasten your seatbelts for a rough ride ahead. 

When times are good, and borrowing is cheap everyone buys more on credit and the economy expends. But the cycle never lasts, as we cannot keep on borrowing and creating money out of thin air forever…It hasn’t worked in the past and it will not work now.

The party is over!

Inflation is running out of control, which means the central banks will have to tighten monetary policy and pull back the reins on the economy – slow down the economy causing a recession. 

Now is the time to learn how to manage your money and prepare for the financial winter.

• Do you have any savings?
• Do you know how to invest or where to invest your money to build financial freedom?
• For how long could you pay your bills if you lost your job?
• Are you fed up struggling?

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.

Claim your free Wealth Accelerator Discovery Call with me:

https://calendly.com/charleskelly/wealth-accelerator-discovery-call

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UK regulator, OFCOM, has hiked the energy cap which means average UK household energy bills are set to rise by up to 80% from 1 October. 

The Government has announced that all households in England, Scotland and Wales will receive £400 to help with rising fuel bills this autumn. The payment will appear as a credit on your energy bill. Landlords who include utility bills in houses in multiple occupation will still be eligible for these payments. 

See also: 100,000 Join ‘Don’t Pay’ group 

YouTube episode -  https://youtu.be/L2yOcmIFxDw

The increased outgoings could also affect how much you will be able borrow to buy your home.

Here are some changes to mortgage affordability calculations made by lenders that you need to be aware of if you are applying for a mortgage home loan in the UK.

Recent changes means lenders will add another layer to mortgage affordability checks used to calculate how much they can lend to borrowers. In future, they will not just look at your income but will also take into account at all of your outgoings, which means you may not be able to borrow as much as you need. 

Lenders are expected to amend the rules for benefit claimants to allow them to have their benefit payments assessed as part of the mortgage application.  

House sales peak in July HMRC figures show but buyers are cautious

Following the recent Halifax report, official figures show that more homes were sold in the UK in July than in any other month this year, but agents report that buyers are showing more caution.

Due to cost-of-living pressures and lower mortgage advances, buyers are increasingly negotiating for a lower price.

HM Revenue and Customs data showed that 110,970 properties were sold in the UK during the month - the highest since September.

Consistent monthly sales of around 100,000 this year show that demand remains comparatively strong, but there are signs that the squeeze on budgets caused by rising prices and bills were having an effect.

Sales in July were still 33% higher than the same month last year and 7.2% higher than June, HMRC said.

Nathan Emerson, chief executive of the estate agents' trade body Propertymark, told the BBC: "These figures show the housing market remains stable with transactions up month-on-month, year-on-year and well above pre-pandemic levels.

"The cost of living is still rising and we are seeing evidence of buyers negotiating harder, bringing price increases down. But our data from member agents shows the demand remains strong and that there with not enough stock to go round with the number of new potential buyers seven times higher than new homes coming to the market."

US President Joe Biden is cancelling billions of dollars of federal student loans. 

Mr Biden has just announced he will cancel up to $10,000 (£8,500) in federal student loans for millions of Americans who earn less than $125,000 each year. The cost is expected to exceed $300 billion and further add to the multi-trillion dollar US debt mountain.

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Live training Wednesday at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

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The economy is in winter, but winters are tough but they never last forever. Like the farmer who prepares for the next season’s work, now is the time get ready and come out even stronger when the recession ends.

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.

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Are you curious about what the biggest risk in property investing is? It might surprise you to learn that the most significant risk isn't the market fluctuations or financial constraints; it's the lack of knowledge and education. Understanding this risk is crucial not only for property investing but for any investment, including stocks and shares.

Why is Lack of Knowledge the Biggest Risk?

Investing in property or any financial asset without adequate knowledge is like sailing without a compass. Lack of education can lead to poor decision-making, missed opportunities, and significant financial losses. )Check out video version: https://youtu.be/V0d4sknpGvQ?si=LX1txU5DLwapmDMn) Here’s why:

1. Informed Decisions: Without proper knowledge, you may not understand market trends, property valuations, or legal requirements. This can result in buying overpriced properties or missing out on lucrative deals.
2. Risk Management: Education helps you identify and mitigate risks. Whether it’s understanding property taxes, maintenance costs, or market cycles, being informed allows you to plan better and avoid costly mistakes.
3. Maximizing Returns: Knowing how to leverage investments, understand financing options, and choose the right properties or stocks can significantly enhance your returns. Lack of education limits your ability to maximize these benefits.

The Solution: Expert Guidance

Having a coach to guide and teach you can transform your investment journey. A coach provides:

• Personalized Advice: Tailored strategies that suit your financial goals and risk tolerance.
• Experience and Insight: Learn from someone who has successfully navigated the investment landscape.
• Accountability and Support: Stay on track with your investment goals and receive continuous support.

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• Ongoing Support: Continuous accountability and email access to ensure you stay on track.
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Food costs are rising by over 14% which has helped push UK inflation into double digits for the first time since 1982. 

Prices are now rising at their fastest rate for more than 40 years.

Official inflation rates reach 10.1% in the 12 months to July, up from 9.4% in June, the Office for National Statistics (ONS) said.

Soaring living costs are eating into family household budgets, with prices rising faster than wages for the last decade.

The Bank of England has predicted that inflation will peak at 13% this year – having previously claimed it was “temporary” and would start to fall this year – and admitted that the country was heading towards a recession.

The price of energy, petrol and diesel costs are contributing to inflation, say the ONS, as well as staples such as bread, cereals, milk, cheese and eggs rising the fastest, while the cost of vegetables, meat and chocolate were also higher. 

In short, the cost of just about everything a family needs is going through the roof. But housing and mortgage costs are also hitting pockets, especially as fixed rate mortgages expire and cause a nasty shock when they jump in price.

What can you do to avoid the recession?

What will you do to survive and even thrive in this recession?

Here are my 7 inflation-busting tips:

1. Loyalty cards and money saving and rewards websites can save you thousands
2. Maximise your returns on savings and investments 
3. Clear credit card debts as fast as you can or transfer to interest free offers
4. Abandon ‘brand loyalty’ for better deals on similar products and services
5. Get control of your finances and stop spending more than you earn
6. EARN more, generate more cashflow with a side hustle or property business 
7. Invest in yourself, upgrade your skills and earning potential and power!

The economy is in winter, but winters are tough but they never last forever. Like the farmer who prepares for the next season’s work, now is the time get ready and come out even stronger when the recession ends.

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

#money #business #stockmarket #property #foodprices #freetraining #financialfreedom #inflation

• UK house prices suffer their first drop in a year according to figures compiled by Britain’s biggest lender.
• Average property worth £293,221
• Annual growth strongest in Wales at 14.7%
• UK Economy shrinks and heads into recession

Average UK house prices dipped slightly in July 2022 for the first time in over a year, according to property market data from Halifax, part of the Lloyds banking group.

The lender’s house price index revealed that price growth slowed by 0.1%, or £365, month-on-month since June, valuing an average UK home at £293,221.

The annual rate of house price growth eased to 11.8%, down from 12.5% last month.

This month, separate house price data from the Nationwide building society and Zoopla also indicated a slight slowdown of the UK’s property market.

Last week I reported that HMRC property transactions data for June shows there were 96,920 sales, on a non-seasonally adjusted basis, the third slowest June for a decade and down 4% on June 2019.

Sales are down 55% compared with 2021 and on a monthly basis down 3.1%, according to the HMRC data based on stamp duty submissions.

Watch video version - https://youtu.be/Q4ycEfF7ER4

Bank of England rate rises for the sixth time in seven months to 1.75% are making mortgages more expensive, which means lenders are reducing borrowing levels.

Halifax said that price gains for larger properties are noticeably outpacing those for lower homes. The price of a detached house has jumped by 15.1%, the equivalent of £60,860, over the past year, compared to a rise of just 7.7% (£11,962) for flats.

Wales topped the table in July with annual inflation up by 14.7%, valuing an average property in the principality at £222,639. This was followed by the south west of England (up by 14.3%) and Northern Ireland (up by 14%).

London again recorded slower annual house price growth compared with other parts of the UK, although 7.9% was the capital’s largest increase in five years.

Russell Galley, Halifax’s managing director, said: “Looking ahead, house prices are likely to come under more pressure as market tailwinds fade further and the headwinds of rising interest rates and increased living costs take a firmer hold.”

Housing sales expectations are now at their lowest level since March 2020, experts have revealed.

Sales expectations for the coming 12 months have fallen 36% in July, down from June’s 21%, according to a survey conducted by the Royal Institution of Chartered Surveyors (RICS) before the Bank of England last week announced its biggest rate hike since 1995.

Britain’s housing market, like that in many other rich nations, boomed during the pandemic as people sought more space to work and socialise at home. However, a quarter of property professionals now report new buyer enquiries falling in July, the third month in a row of an overall decline.

Contributing factors include higher interest rates and the cost-of-living crisis, which affects affordability and confidence.

Half of estate agents reported that average selling prices are no longer exceeding asking prices for properties worth up to £500,000 and vendors properties priced at £1m or more are forced to accept lower offers. Only 39% say average sales prices of properties £500,000 to £1m are over asking price.

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

UK economy shrinks Q2 as recession looms

The UK economy officially shrank between April and June as the Bank of England predicts the country will fall into recession later this year.

The economy or GDP contracted by 0.1% in the second quarter of the year, the Office for National Statistics (ONS) reports, but is not yet in recession because it grew by 0.8% in the first quarter.

A recession is defined as the economy getting smaller for two consecutive three-month periods.

The US economy has declined in the first two quarters, but is not officially in recession by their measures.

Banks not passing on interest rate rises to savers!

See: video  - https://youtu.be/5Z1DVXkCcfo to see what can you do to make more of your savings.

Make your money work harder for you…See: 6 Tips to get on the property ladder - https://youtu.be/F4spqKpYZo4

Learn how to get started as a first-time property buyer.

A slowdown in the property market means more opportunities for buyers and investor!

Find out more about property investing.

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

FREE TRAINING – BEGINNERS PROPERTY SECRETS

This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

https://bit.ly/3DlSlCL

#property #freetraining #propertysecrets #money #banks #savemoney #buytoletinvestor #propertyinvestor

Interview with Milan Patel of Customized Financial Solutions taking a holistic approach to tax including:

• Inheritance Tax Planning
• Wills and Trusts
• Company incorporation S.24

House prices have soared in the last few years, which means many of you will be paying unnecessary tax and passing on a huge tax burden to your children and grandchildren.

Watch YouTube video - https://youtu.be/mo9ocdg7bQA

Contact details for Milan Patel at Customized Financial Solutions

LinkedIn: https://www.linkedin.com/in/stampdutyreclaimlondon/
Facebook: https://www.facebook.com/customizedfinance/
Website: www.customizedfinancialsolutions.com

House sales peak in July HMRC figures show but buyers are cautious

More homes were sold in the UK in July than in any other month this year, official figures show, but agents say buyers are becoming more cautious.

Obtain up to 14% yield on UK buy-to-let property.

Auction Property Bargains From Open House South Herts

2 Bed House - £36,000

4 Bed Buy-to-Let Rented House £59,000

https://www.facebook.com/estateagentswatfordelstreeandborehamwood

Generate a second income stream…

Find out more about property investing – even if you have no money.

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

FREE TRAINING – BEGINNERS PROPERTY SECRETS

This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

https://bit.ly/3DlSlCL

The economy is in winter, but winters are tough but they never last forever. Like the farmer who prepares for the next season’s work, now is the time get ready and come out even stronger when the recession ends.

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

#freetraining #propertysecrets #money #banks #savemoney #buytoletinvestor #propertyinvestor #mortgages #secondincome #financialfreedom #economy #money #rishisunak #rentalproperty #buytolet #investing #property #houseprices #tax #inheritancetax #IHT #royalfamily #princecharles #princeharry #queenmother #dukeofwestminster #Willsandtrusts #Trust #taxplanning #georgesoros #lewishamilton #starbuckstax 

As energy bills are predicated to reach £4,000 per household and campaigners like Martin Lewis call for government action to stave off a national crisis, 100,000 people are threatening to cancel their bank direct debit payments to companies like EDF and British Gas.

A campaign group, dontpay.co.uk, has almost 100,000 signatures of people who say they will refuse to pay their energy bills or cancel their direct debit mandate from October.

Don’t damage your credit rating

Things to remember before you cancel payment plans:

• You have a contract
• Energy companies can issue late payment notices to credit referencing agencies and forcibly enter your property to instal a pre-payment meter.
• Risk of CCJ – County Court Judgement
• Poor credit history can last for 6 years.
• If you fall behind it will be difficult to catch up and pay the debt.

Don’t Pay’s ‘plan’:

“The Plan:

It's simple: we are demanding a reduction of energy bills to an affordable level. Our leverage is that we will gather a million people to pledge not to pay if the government goes ahead with another massive hike on October 1st.

Mass non-payment is not a new idea, it happened in the UK in the late 80s and 90s, when more than 17 million people refused to pay the Poll Tax – helping bring down the government and reversing its harshest measures.”

Why this so-called plan is reckless and misleading.

Other news

US inflation drops slightly to 8.5%

Mortgage affordability rules relaxed by Bank of England

UK will fall into recession this year and inflation will hit 13% say BoE

UK interest rates hiked last week by 0.5% (biggest jump in 27 years) to 1.75%

Banks not passing on the last 5 interest rate rises to savers!

See: video  - https://youtu.be/5Z1DVXkCcfo to see what can you do to make more of your savings.

Make your money work harder for you…See: 6 Tips to get on the property ladder - https://youtu.be/F4spqKpYZo4

Learn how to get started as a first-time property buyer.

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

A slowdown in the property market means more opportunities for buyers and investor!

Find out more about property investing.

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

FREE TRAINING – BEGINNERS PROPERTY SECRETS

This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

NO MONEY DOWN VIRTUAL TRAINING WEBINAR

Virtual event - No Money Down Property seminar.

Click to register as places are strictly limited.

No Money Down isn't as difficult as you may believe... If you want to take the next steps and take advantage of the opportunities that have opened up to you in the past few weeks (massive increase in probate deals, the tsunami of pre-repossession lease options that are available right now and tenant buyer Rent2Own demand at an all time high due to inflation pricing the masses out of the market just to name a few), then join this free virtual training…

#property 

#propertyinvestment

#firsttimepropertybuyer

#interestrates

#freepropertytraining

#mortgages

#interestratehike

The UK is heading into recession say BoE, and Inflation set to hit 13% this Autumn 

Mortgage affordability rules relaxed by the Bank of England

The Bank of England (BoE) has raised rates by 0.5 percentage points to 1.75%. The news marks the biggest UK interest rate rise in 27 years.

This is the BoE’s latest attempt to calm soaring inflation levels, which are expected to reach 13% by the end of the year as the UK faces the biggest squeeze on living standards in 60 years.

Property transactions are already down 55% on 2021 - https://youtu.be/Q4ycEfF7ER4

Interest rate rises should be good news for savers, right? High street banks should pass on interest rate rises to savers? But do they? As at 30 June, despite five rate changes since the middle of December, lots of high street banks' rates have hardly moved and many have stayed where they were before the rate hikes started. The average market rate for instant access accounts is just 0.31%.

Millions of savers are facing more time stuck earning almost nothing on money held in instant and easy-access bank accounts.

So, what can you do to make more of your savings?

This article isn’t personal advice. If you’re not sure what’s right for your circumstances, seek advice.

1. Look further than your high street bank

Well-known banks often pay the lowest rates.

Some of the large high street banks currently only offer 0.2% on their instant access accounts. That’s just £20 interest on a £10,000 savings pot after a whole year.

In reality, the big banks don’t need to work as hard for your money and don’t really care as much as smaller banks and building societies who will offer more attractive rates to attract your money. 

Protect your savings.

If you have more than £85,000 in cash with different banking brands under the same licence, it could be sensible to move your savings elsewhere, to maximise your protection under the FSCS.

1. Use fixed terms

Fixing your savings for a set term will increase your returns.

1. Alternatively, invest in real assets like property.

See: 6 Tips to get on the property ladder - https://youtu.be/F4spqKpYZo4

Learn how to get started as a first-time property buyer.

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

A slowdown in the property market means more opportunities for buyers and investor!

Mortgage affordability rules relaxed by Bank of England

The UK mortgage borrowing rules have been changed after the Bank of England scrapped an affordability test for lenders.

The so-called "stress test" required mortgage lenders to calculate whether borrowers applying for a mortgage would be able to afford the loan in the event of interest rates rising by up to 3%.

The removal the test could be good news for some potential borrowers, for instance, the self-employed or freelance workers, by helping them to qualify for loans.

Other rules, such as strict loan-to-income limits, will not make it more difficult for most people to obtain a mortgage.

The withdrawal of the affordability test, first announced in June, came into effect on Monday.

There will be no immediate impact for borrowers as lenders will not need to change the way they assess loans, but some could change their own rules in the future.

The mortgage affordability test was introduced in 2014 as part of a widescale tightening up of the mortgage market to ensure there were no repeats of the mis-selling scandal that partially contributed to the 2008 financial crisis.

Lenders had to not only work out if borrowers could afford a mortgage at the rate they were being offered, but also work out how they would be affected if interest rates soared by 3%.

Borrowers who could not prove they could cope with such an eventuality might have been turned down for a loan on that basis, even if they could easily afford a mortgage at the existing rate.

For that reason the test was seen by some as a barrier for some borrowers.

For example, some potential first-time buyers who have been comfortably affording rents far higher than potential mortgage payments have failed affordability assessments.

There are some key protections in place to help ensure that borrowers don't take on loans they may not be able to afford.

The main one is a loan-to-income "flow limit" which limits the number of mortgages that lenders can grant to borrowers at ratios at or greater than 4.5 the borrowers' salary.

In short, it is very rare that a lender will consider a higher loan-to-income ratio because of the restriction.

The FCA's Mortgage Conduct of Business responsible lending rules also require a wide assessment of affordability.

Find out more about property investing.

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

FREE TRAINING – BEGINNERS PROPERTY SECRETS

This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

https://bit.ly/3DlSlCL

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

A slowdown in the property market means more opportunities for buyers and investor!

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

FREE TRAINING – BEGINNERS PROPERTY SECRETS

This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

In today’s Money Tips Podcast:

• Banks short-changing savers
• Investors turn to property for better returns
• Walmart issues profit warning as ordinary people in America struggle with cost-of-living crisis.
• Property prices are falling according to official figures.

High Street UK banks, like Natwest, have failed to pass on several Bank of England base lending rate rises to millions of savers. Base rates have been steadily rising from a low of 0.10% in October 2021, which banks have not passed on to savers.

At the same time, they are INCREASING interest rate for borrowers who owe money on their already expensive credit cards.

NatWest has just announced a 2.5% increase on their credit card from 15.756 to 18.276, an effective increase of 15%.

The current UK base lending rate is 1.25%.

Credit card companies were charging similar rates when base rats were over 10%, which means they are profiteering from people’s misery.

Meanwhile, banks leaving millions of savers out of pocket in accounts paying almost ZERO interest – which means their savings are LOSING 9.4% (the official UK inflation rate) every year.

Savers should vote with their feet and move their money to obtain better deals – if they can find a local branch!

Years of artificially low interest rates have pushed millions of investors into buy-to-let property, where the can receive much higher income, as well as growth on their capital.

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

Banks are closing hundreds of branches all over the country as the reset to cash continues against people’s wishes. Older customers will struggle to get to branches and many do not use, or want to use, complicated online banking systems.

Many old bank branch buildings, such as this on in Loughton, Essex, are huge with much of the space no longer required and can easily be converted into flats, shops, restaurants or other mixed usage.

Mortgage rates have also jumped in the last year adding significantly to the cost of buying a home. For instance, a 2% increase on a £200,000 mortgage will cost borrowers an additional £4000 per annum or £333pm. On a £250,000 loan, the extra cost is £5000 a year or £416pm.

Most lenders will take this additional burden into account when working out the affordability test and adjust the borrowing level downwards. In other words, the borrow must put down a higher deposit or pay less for a property.

Walmart issues profit warning as ordinary people in America struggle with cost-of-living crisis.

IMF calls on central banks to raise interest rates further – this will drive the world into a recession.

Property prices are falling according to official figures.

Prior to the 2008 financial crash lenders were routinely giving out 100% and even 125% mortgages, self-certification mortgages with no income checks and up to 10 times income multiples. 

This all changed after 2008 when several lenders went bust and the government had to bail out High Street banks in the UK such as Lloyds and RBS, which owned NatWest.

But it was not 100% or even self-certification mortgages that got lenders into trouble. Lenders such as northern rock decided to expand into commercial lending which was outside of their experience and comfort zone.

Subprime lending, or giving mortgages to people with poor credit history, previous arrears and even bankruptcy, also cause massive problems for American investment banks who sold derivatives of these products as triple AAA security.  

The vast majority of the actual loans were still being paid in the UK.

Lenders also branched out into buying up estate agencies and other businesses which was a big mistake since they paid far too much for these businesses.

But could we be witnessing a return to more adventurous lending?

Well, that remains to be seen. There has been talk of new lenders, like Propertunity, coming into the market offering 100% no deposit mortgages, but so far they have not launched any product on the market.

Check out: https://www.proportunity.com/blog/zero-deposit-mortgage

We also need to find out more details about the loan terms and the interest rates. 

It appears to be some kind of 90% initial loan with a top up loan, similar to a help to buy loan that was offered by the government.

What we don’t know is whether this loan is just an interest only loan or involves a share of the equity in the property.

There are also schemes out there offering 10 times income and minimal credit checks, but these appear to be rent-to-own schemes rather than traditional mortgages.

As always, take legal independent financial advice before entering into any credit agreement

Inflation rises to 9.4%, the ninth monthly rise in a row. 

Inflation will peak at 11% in the autumn say the Bank of England, which is inside an imminent 0.5% interest rate rise. 

The ECB have just hiked interest rates for the first time in over a decade. 

Public sector workers are threatening strikes, with unions complaining that a 5% pay rise will not keep pace with rising costs. 

Overall, figures show that pay is falling behind the cost of living making the average person poorer. 

Mortgages rates have gone up by around 300%. 

Whilst most people are on fixed rates, those rates will eventually expire.  

The problem for borrowers at the lower income scale is that they may not qualify for certain rates due to affordability tests.   

I wish I could give a less gloomy outlook on the economy, but it is not looking too rosy at the moment.

When the country in recession or downturn property prices fall. However, I have seen high inflationary times when properties went up in line with inflation. Right now property is rising faster than the official inflation rate (13% annually), but how long can this continue in the current financial squeeze?

See previous episodes:

4 tips to save money in property letting and development - https://youtu.be/CM22xqmh3Pg

Big changes in private rented sector, leaseholds & property ads - https://youtu.be/SeOA_zMqaIY

Get cheaper property and higher yields up north

Obtain up to 14% yield on UK buy-to-let property.

Auction Property Bargains From Open House South Herts

• 2 Bed House - £36,000

• 4 Bed Buy-to-Let Rented House £59,000

More deals at: https://www.facebook.com/estateagentswatfordelstreeandborehamwood

#economy #propertybargains #auctionproperty #money #buytolet #rentalproperty #buytolet #investing #property #houseprices #nodepositmortgage #100%mortgage

Inflation hits 9.4% and will peak at 11% in the autumn say the Bank of England, which has hinted at an imminent 0.5% interest rate rise. 

The ECB have just increased interest rates by 0.5% to zero for the first time in over a decade. Rates have been negative since 2014.

Public sector workers are threatening strikes, with unions complaining that a 5% pay rise will not keep pace with rising costs. 

Overall, figures show that pay is falling behind the cost of living making the average person poorer. 

Mortgages rates have gone up by around 300%. 

Whilst most people are on fixed rates, those rates will eventually expire.  

The problem for borrowers at the lower income scale is that they may not qualify for certain rates due to affordability tests.   

Watch video on YouTube - https://youtu.be/aRpFGTJqlUE

Who will be the next UK PM?

I wish I could give a less gloomy outlook on the economy but it is not looking too rosy at the moment.

One possible bright light on the horizon is the change of leadership and government in the UK following the forced resignation of Boris Johnson.

The final two candidates for the prime minister job are former Chancellor Rishi Sunak and Foreign Secretary Liz Truss.  

Liz Truss is currently ahead in the polls and id she becomes the new prime minister she will cut taxes, increase spending and take measures to encourage economic growth.  

Whilst this will mean deferring the UK’s £2 trillion debt reduction, it will provide a much needed boost to the economy and create more tax revenue.

I believe the UK is due for a shift in economic policy and that Liz Truss is the right person to lead the country.  

Tesla dumps Bitcoin

Tesla has now sold off most of its holdings of the cryptocurrency.

The firm has dumped 75% of its Bitcoin, which was worth about $2bn (£1.7bn) at the end of 2021.

It is backing away as the value of the cryptocurrency has plunged, falling by more than 50% this year.

Tesla said it bought traditional currency with the $936m (£782m) from its Bitcoin sales.

Tesla boss Elon Musk has been among the most high profile champions of cryptocurrency, with his pronouncements on social media often driving significant trading activity.

Tesla's $1.5bn investment in Bitcoin, revealed in February 2021, prompted a surge of demand in the currency. The price of the notoriously volatile cryptocurrency soared last year to almost $70,000 in November before crashing.

One Bitcoin trades for less than $25,000.

Musk previously said he would not sell any crypto, but now needs cash. Tesla shares have plunged almost 40% this year.

Learn how to create wealth and buy and control property using other people’s money!

Claim your free Wealth Accelerator Discovery Call with me:

https://calendly.com/charleskelly/wealth-accelerator-discovery-call

#free #economy #wealth #money #property #cryptocurrency #tesla #elonmusk #bitcoin #inflation #interestrates #liztruss #borisjohnson #rishisunak #makemoney #bankofengland #ecbinterestrates #freewealthcoachingcall #coaching #mortgagerates

UK economy rebounded in my growing by 5% going to ONS figures. 

Most areas of the economy expanded including construction, travel and manufacturing. 

But business leaders are still concerned about the rising cost of raw materials, as well as fuel and gas. Inflation is set to hit 11% and is soaring around the world.  

US inflation has hit 9.1% prompting fears of another interest rate rise by the Fed this summer. 

The Conservative Party is voting to elect a new leader following the resignation of Boris Johnson.

Most of the candidates promise to increase spending and cut tax. However, the bookies favourite for the next PM, former Chancellor Rishi Sunak, has urged more caution in order to pay off the deficit and reduce inflation. Rishi Sunak increased corporation tax, which is the tax on business profits.

Tax cuts needed to keep us from falling into recession, stimulate growth and long-term prosperity.

The new government and Chancellor must slash corporation tax to 15% to encourage more inward investment into the UK.  

Most leaders want to cut bureaucracy and the size of government, but this seldom happens. There are now more civil servants in the world in 2016 and the state is still growing.  

Half the working population in the UK is directly or indirectly employed by the government, which means they are funded by taxpayers and companies paying corporation tax.   

More signs of cracks in China’s economy?

The BBC reports that authorities in China's Henan province will start releasing money to customers who have had their funds frozen by several rural banks.

The announcement came just a day after a rare protest in Henan's capital, Zhengzhou, turned violent.

The four banks that were the focus of the protests are believed to have frozen a total of 39bn yuan ($5.8bn; £4.9bn) of deposits.

One of China’s many debtor nations, Sri Lanka, is broke and has falling into chaos as the government falls and people queue for fuel and gas tanks.  

I recently heard an Interview with Chris Blackwell of Island records, regarded as one of most influential record executives of all time.

Chris helped launched the careers of the likes of Bob Marley, Roxy Music, Free and U2. 

When asked how he knew that reggae and ska music would become so big Chris replied that he wasn’t thinking along those lines at all. All he was trying to do was make a good record and help people build a career in music. 

Interesting how he wanted to give, not get, and is now worth $300 million! 

Mick Jagger and the Rolling Stones are not only a great band, they also know how to run their business empire making the extremely wealthy.

• Ronnie Wood – US$200 million.
• Charlie Watts – US$250 million.
• Keith Richards – US$500 million.
• Mick Jagger – US$500 million.

The Rolling Stones did a concert tour to celebrate and increase the group's fortune, which is estimated by FOXBusiness at $1.45 billion.

Rolling Stones are celebrating 60 years in the business and have been one of most successful end enduring rock bands of all time

For the first decade of the band Mick Jagger said he left the business side of things to managers, which was a mistake. They ended up in financial trouble having not paid the correct amount of tax. 

The band made a decision to move out of the UK, which at the time had a tax rate up to 98%, to avoid going broke. Lack of attention to tax is a common cause of music and film stars going bankrupt, as I cover in my book Yes, Money Can Buy You Happiness.

Mick then took over the business side of running the group and has never looked back. 

Mick is a very astute businessman and likes to keep control of every aspect of the banned from putting the show together to making sure they minimise their tax bill.   

I once had a ticket to a concert of theirs which was cancelled because it would’ve meant them paying too much UK tax.

It is also known that Mick’s house in Richmond was held in an offshore company.

Earn more than you spend and invest to grow your own ‘u’conomy’. Saving alone will not save you from a bleak retirement.

Obtain up to 14% yield on UK buy-to-let property.

Auction Property Bargains From Open House South Herts

2 Bed House - £36,000

4 Bed Buy-to-Let Rented House £59,000

https://www.facebook.com/estateagentswatfordelstreeandborehamwood

#economy #china #money #borisjohnson #rentalproperty #buytolet #investing #property #houseprices #mickjagger #rollingstones #chrisblackwell #rishisunak #srilanka #bobmarley #U2 

How Will the New Labour Government Transform the UK Housing Market?

What will this mean for Landlords and Tenants?

The election of a new Labour government, and Prime Minister Sir Kier Starmer, brings a wave of anticipation and uncertainty, particularly regarding the UK housing market and the buy-to-let property sector. As Labour's policies start to unfold, both landlords and tenants are keen to understand the potential impacts.

Labour's Housing Policies

Labour has long championed affordable housing and tenant rights. Their manifesto includes ambitious plans to build 1.5 million new homes over the current parliament, introduce rent controls, and increase ‘protections’ for tenants. This could significantly shift the landscape for both homeowners and the buy-to-let market.

The Renters Reform Bill will be resurrected and will almost certainly include an end to Section 21 ‘no fault’ evictions and more ‘secure’ tenancies.

Impact on the Housing Market

1. Increased Housing Supply: Labour's pledge to build more homes aims to address the chronic housing shortage. This could stabilize or even reduce house prices, making it easier for first-time buyers to enter the market.   
2. Affordability: By increasing housing supply, Labour hopes to make homes more affordable. This is particularly beneficial for young people and families currently priced out of the market.

Effects on the Buy-to-Let Market

1. Rent Controls: One of the most talked-about Labour policies is the introduction of rent controls. While this aims to protect tenants from excessive rent hikes, landlords might see a cap on their rental income, potentially reducing the profitability of buy-to-let investments.   
2. Tenant Protections: Enhanced tenant protections could include longer tenancies and restrictions on eviction procedures. This provides tenants with greater security but might limit landlords' flexibility in managing their properties and will be a challenge to small landlords.
3. Tax Changes: Labour has suggested revisiting tax reliefs available to landlords. Possible reductions in tax incentives could discourage new buy-to-let investments and prompt some landlords to sell their properties.

What This Means for Landlords

Landlords might face increased regulation and potentially lower returns on their investments. It is crucial for landlords to stay informed about new policies and consider strategies to adapt, such as focusing on property quality and location to attract long-term tenants.

What This Means for Tenants

Tenants are likely to benefit from increased protections and potentially lower rents. Labour's policies aim to create a fairer rental market, offering tenants more stability and affordability.

Immigration

The new Prime Minister has promised to deal with the “small boats” illegal immigration, as well the “processing” the huge backlog of asylum cases. He refused to say what he means by “processing” applications, but it will probably involve some kind of an amnesty or “legacy” scheme as implemented by the Blair government. 

In practice, hundreds of thousands of migrants will be granted leave to remain whether or not the arrived in the UK legally. This means asylum seekers will be able to work and could see an end to temporary housing and hotel accommodation.

Conclusion

Prime Minister Sir Kier Starmer’s Labour government’s policies are set to bring significant changes to the UK housing market and the buy-to-let sector. While tenants stand to gain from greater protections and affordability, landlords may need to navigate tighter regulations and potentially lower profits. Staying informed and adaptable will be key for all parties involved.

Understanding these potential changes is crucial for navigating the evolving landscape of the UK housing market. Stay tuned for more insights and expert advice on how to manage your property investments under the new Labour government. 

Section 24 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

3 Steps To Unlocking Financial Freedom!

Could you do more with your money and finances?

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 7.00PM. 

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#finance #moneytraining #moneymanagement #wealth #money #UKHousingMarket #BuyToLet #LabourGovernment #PropertyInvesting #TenantRights #LandlordTips #HousingPolicy #AffordableHousing #RentControls #RealEstateInvesting #UKProperty #PrimeMinisterSirKierStarmer #section21 #section21nofaulteviction

4 Tips to Save Money in Property Letting and Development

1. Get a good property tax accountant and save a fortune
2. Join discount purchasing clubs such as LNPG - https://www.lnpg.co.uk/
3. Networking
4. Shop around for lower cost management and letting fees

China’s economy contracts 2.5% while UK grew .5% last month

Where are property prices going?

Watch video version - https://youtu.be/CM22xqmh3Pg

Get cheaper property and higher yields up north

Obtain up to 14% yield on UK buy-to-let property.

Auction Property Bargains From Open House South Herts

2 Bed House - £36,000

4 Bed Buy-to-Let Rented House £59,000

https://www.facebook.com/estateagentswatfordelstreeandborehamwood

#economy #china #money #borisjohnson #rentalproperty #buytolet #investing #property #houseprices #mickjagger #rollingstones #chrisblackwell #rishisunak #srilanka #bobmarley #U2

In this episode of UK Property Talk:

UK property prices still rising despite global economic slowdown.

Rightmove, the online property listing portal, confirms its compliance with new listing guidelines to include more information on each property.

Rightmove portal details for properties will include:-

• Cost of any service charge and ground rent.
• Details of any shared ownership arrangement. 
• Sale price - no longer “POA”.
• Other changes that affect sales and lettings, including council tax bands.
• Any information missing from a listing will be highlighted and potential buyers will be redirected to the agent.
• Rightmove has also introduced new ‘tool tips’ and a glossary of terms.

Other Updates

• New Rules on unfair Leases and Ground rents
• Boris announces plans to sell off Housing Association properties.
• Lifelong mortgages.

UK government’s ‘levelling up’ measures will involve letting agents directly include a national landlord register, a 'decent homes standard' and abolishing Section 21.

By 2030, more renters will have a secure path to ownership with the number of first-time buyers increasing in all areas; and the government’s ambition is for the number of non-decent rented homes to have fallen by 50%, with the biggest improvements in the lowest-performing areas.

UK House Prices Continue To Rise Despite Global Economic Slowdown

House prices hit a new high in June despite the rising cost of living in the UK would slow demand.

Average house price reached £294,845 in June after rising by 1.8% - the steepest monthly increase since 2007.

Halifax sighted a “lack of available homes” for sale was lifting prices as well as a shift towards people buying larger, detached homes, which rose by over 13% in the last year.

But it expects price growth will slow, as interest rates rise and soaring prices hits people’s pocket harder this year.

Petrol remains high and average household energy bills are set to exceed £3000 this year – a rise of nearly 300%!

Interest rates will rise again says Bank of England Chief Economist, as inflation is expected to reach 11% this year.

The Bank of England warned of more interest rate rises as it vows to bring inflation back down to 2% - roughly 5 times lower than present level.

Boris Johnson ousted as leader by his own party, but does it matter to you?

After Chancellor Rishi Sunak walked out of his job this week, his replacement Nadhim Zahawi has said he and Prime Minister Boris Johnson want to "rebuild the economy" and get soaring inflation under control. 

We could see a new approach, as Mr Zahawi said "nothing is off the table" in terms of cutting taxes and boosting economic growth.

Auction Property Bargains From Open House South Herts

2 Bed House - £36,000

4 Bed Buy-to-Let Rented House £59,000

https://www.facebook.com/estateagentswatfordelstreeandborehamwood

#rightmove #leasehold #propertyprices #money #estateagent #borisjohnson #economy #rentalproperty #buytolet #investing #property #houseprices 

Global stocks down amid war and recession fears, while household incomes are falling. 

US stock markets have suffered the sharpest first-half slump in 50 years, with the S&P 500 down by 20.6% and the tech-heavy NASDAQ tumbling 30% in the last six months.

London and Wall Street shares were down again this week as markets react to fears of a global downturn.

On Thursday the FTSE was down nearly 2% and the NASDAQ was down 3.65% after recovering slightly from previous sell-offs. 

Why the markets matter to you?

• Taxes
• Investment
• Jobs
• Pensions and Savings
• Confidence

The market correction means billions has been wiped off the value of quoted companies, mutual funds, unit trusts and pension funds.

Chaos in Sri Lanka…does it matter?

How can you protect your savings?

5 things you need to know about money

1. How to earn more money
2. How to manage money
3. How to invest money
4. How to protect money
5. How to borrow money and use debt

You are losing money on your bank savings!

Learn how to create wealth and buy and control property using other people’s money!

Claim your free Wealth Accelerator Discovery Call with me:

https://calendly.com/charleskelly/wealth-accelerator-discovery-call

As the number of holiday let properties have increased by 40% in costal regions such as Norfolk, Devon and Cornwall, some English councils are proposing a ban, the BBC reports.

Some tourist areas have become so saturated with AIRBNB holiday lets that locals are being squeezed out and can no longer afford to rent or buy in the area. 

A resident in Scarborough complained that almost every house in her street was a holiday let and no longer occupied by local residents.

A councillor in Brighton said there are 3,500 AIRBNB properties advertised in the popular beach town and wants a planning ban on holiday lets and second homes.

The holiday let or serviced accommodation (SA) strategy has exploded in recent years with many courses on offer to teach landlords how to increase returns on their investment and avoid tax and rule changes imposed on standard ‘buy-to-let’ property.

There is no doubt that you can increase your rental income by using the SA strategy correctly.

4 things to consider before you consider SA or holiday lets as a strategy:

1. Training
2. Lender
3. HMRC
4. Insurance

Free Beginners Property Secrets Training:

https://bit.ly/3NQxm0p

Rail unions strike for higher pay and better working conditions.

More industrial action on the way threatening to stall the economic recover and drive the country into recession.

The US and China, the world’s two biggest economies are also stalling, and Germany is facing gas rationing.

Inflation is at a 40-year high forcing central banks to raise interest rates pushing up the cost of borrowing for millions of cash-strapped consumers.

Stock markets recovered slightly after falling sharply last week.

People buying less at supermarkets as food prices rise, BBC reports.

Interest Free Loans Launched To Help The Financially Vulnerable

A Treasury-backed scheme offering interest-free loans to the financially vulnerable is being rolled out in various parts of the UK to help up to 20,000 people.

The UK government scheme will be run by credit unions and other lenders, with an aim is to offer emergency loans to people who would normally be turned down due to the fact they would be unable afford the interest payments.

The scheme was trialled in Manchester and is now being expanded in a larger pilot phase to various locations across the UK which will last for up to two years, after which a decision will be made on whether to roll it out further.

What will the No Interest Loan Scheme offer?

• Only available to people who have been turned down for normal borrowing
• Can borrow between £100 and £2,000. The average amount borrowed is £500
• Can borrow the money for six to 18 months. The average length of time is 12 months
• Customers can only have one no interest loan

Soaring inflation led interest payments on government debt to hit the highest amount for May on record.

Interest payments paid by the government for last month hit £7.6bn, up £3.1bn from a year earlier.

That’s around £245,000,000 a day just to cover interest on government debt!

Interest payments have totalled £14.1bn, up £4.7bn year on year, in the current financial year since April.

Taxpayers will ultimately have fund the cost of trillions in debt through higher taxes.

Even the Nasdaq darling, Netflix, is not immune to the economic slowdown announcing another round of job cuts as it struggles with slowing growth and increased competition.

The streaming giant is slashing 300 more jobs - roughly 4% of its workforce - mostly in the US, after a sacking 150 people in May. The news come after the company reported its first subscriber loss in more than a decade in April.

Learn how to create wealth and buy and control property using other people’s money!

Claim your free Wealth Accelerator Discovery Call with me:

https://calendly.com/charleskelly/wealth-accelerator-discovery-call

UK PROPERTY TALK

Key things to consider when buying or selling at auction:

Do you know the difference between buying at auction and buying through the traditional private treaty method that most people use in traditional estate agencies?

Are you buying through traditional or modern auction?

Have you done ALL your homework and survey checks before the auction?

Have you got your finance in place ready to complete withing 28 days of a successful bid?

Are you able to complete the purchase within 28 days of the hammer going down?

Have you got your deposit - 5-10% of the agreed bid price - ready to pay on the day?

Watch video - https://youtu.be/cpFTKpiWbp0

If bidding in an online or physical auction have you ensured that you are fully registered to bid?

Have you read the legal pack or given it to your solicitor to check?

Have you done all your due diligence prior to the auction?

Have you considered why this property is being sold at auction?

Have you set your maximum bid limit?

Do you have a strategy?

Here at Open House South Herts we partner with modern auctioneers to help you sell your property fast with no vendor fees.  

We have a number of properties coming up for auction soon listed on our Facebook page Open House South Herts - https://www.facebook.com/estateagentswatfordelstreeandborehamwood

charles.kelly@localagent.com

www.openhousesouthherts.com

#property #propertyauction #buytolet #money #propertyinvestor

UK base interest rates have increased from 1% to 1.25%, the fifth consecutive rise, to reach the highest level in 13 years.

In America, the Fed went further raising rates by .75% to a target range of 1.5-1.75 percent and forecasts a 3.25-3.5 percent fed funds rate by year-end.

It comes as finances are being squeezed by the rising cost of living, driven by record fuel and energy prices.

Inflation - the rate at which prices rise - is currently at a 40-year high of 9%, and the Bank – which last year said inflation was “transitory” now warns it could surpass 11% by October. But everyone knows inflation is already well into double digits with heating and fuels bills doubling for many families.

Watch video version - https://youtu.be/hlTwicSwPIw

In a survey carried out by the BBC some people revealed that they are skipping meals to save money and cutting back on spending on luxuries and entertainment.

With no sign of oil and gas prices coming down soon, this all points to a recession.

Crypto collapse continues as BTC losses top 70% 

Many major cryptocurrencies have fallen by up to a quarter of their value over the past day

Bitcoin crashed below $21,000 on Wednesday, dropping a further 10 per cent overnight to reach its lowest level since the end of 2020 - at $20,630 as I write.

Ethereum has collapsed from just under $5,000 in November 2021 to just over $1000 and other cryptos have fallen off the cliff.

Some cryptocurrencies have since recovered slightly, though analysts warn that the volatility may not yet be over.

Bitcoin is trading at $20,630, and has dropped 25% in the past five days alone its lowest value in 18 months. Its peak of almost $70,000, in November, feels like another era.

There has never been a more pressing time to learn how to manage your money – you can watch my free training video by clicking here - https://bit.ly/3H2WcbA

How to survive

What will you do to survive and even thrive in this recession?

80% OF PEOPLE WHO WANT MORE NEVER DO ANYTHING TO EARN MORE

Here are my 10 inflation-busting tips:

1. Loyalty cards and money saving and rewards websites can save you thousands
2. Maximise your returns on savings and investments and invest spare cash into assets
3. Clear credit card debts as fast as you can or transfer to interest free offers
4. Abandon ‘brand loyalty’ for better deals on similar products and services
5. Shop wisely at discount store, look for price reductions and stay flexible
6. Cook from scratch and avoid expensive pre-prepared microwavable meals
7. Get control of your finances and stop spending more than you earn
8. Earn more than you spend by increasing your income
9. Get a part-time job – there are millions of job vacancies in the UK
10. Start a part-time side hustle or retrain for a higher paid career.

JOIN ME FOR UK PROPERTY TALK SAT 28 MAY 2022 10AM

75% of mortgages are fixed

40% of fixed rate mortgages are fixed for 5 years.

More houses in the UK are owned out right with no mortgages than those with mortgages.

Register - https://contexttraining.aweb.page/p/c1e369d0-56b1-45a3-8264-0c0a7e875d23

click here to register

#property #bitcoin #cryptocurrency #crypto #interestrates #inflation #mortgage #fixedratemortgage

Apple will launch a new ‘buy now pay later service’ (BNPL) scheme in the US to spread the cost of purchases over four to six weeks.

The BBC reported last December that over 15 million people in the UK are already using BNPL services run by the likes of Klarna, Clearpay, Laybuy and PayPal.

Challenge to traditional; banks.

Citizens Advice reported concerns that 12 million adults are using BNPL services to pay for essentials such as food a toiletries.

Deferring payment will be made even easier with millions of iPhone users tapping their way into easy debt.

The BNPL market is expected to be worth £30 billion by the end of the decade.

Apple’s move comes as the cost of living has reached new highs with the cost of unleaded petrol hitting £2 per litre! One haulage firm said the cost of fuelling a truck has risen by £20,000 a year, which will be passed on to customers.

The pound fell this week after Boris Johnson survived a vote of no confidence.

Although the Queen’s Jubilee celebrations gave a welcome boost to spending on hospitality, consumer spending was down in May as the cost of living continued to rise, according to the British Retail Consortium.

Food prices continue to soar as India bans wheat exports and shortages are starting in some countries.

There is nothing new about consumer debt, but the speed and ease of obtaining credit almost instantaneously has changed in the last few years.

Consumer debt is “dumb” according to Warren Buffett, one of the world’s richest and most successful investors.

There has never been a more pressing time to learn how to manage your money – you can watch my free training video by clicking here - https://bit.ly/3H2WcbA

Good debt, used for instance to purchase assets, such as property, or start businesses, is smart borrowing, as I explain in my book, Borrow and Grow Rich.

The rich and wealthy have been using smart borrowing or ‘other people’s money (OPM) for centuries to finance business ventures and build huge property portfolios.

You can learn the secrets of property investing using OPM and build your own portfolio.

With inflation running at near double figures the real purchasing power of your cash is being eaten away and will halve every 8 years if consumer prices continue to rise by 9%pa.

However, you can use inflation to your advantage using the right assets and good debt.

FREE TRAINING – PROPERTY INVESTING SECRETS

This Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday 8 June 2022 at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

https://bit.ly/3DlSlCL

Mortgage rates are coming down despite the Bank of England holding the base rate at a 15 year high at 5.25%.

In this episode we discuss:

• Housing market and mortgage rates
• Section 24 Tax Trap for Landlords
• Money Management and Financial Freedom
• Gold and Silver Vs Cash Currency

Watch full video at Charles Kelly Money Tips Podcast -  https://youtu.be/zgHqeA_hhUA

Section 24 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

3 Steps To Unlocking Financial Freedom!

Could you do more with your money and finances?

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 7.00PM. 

Places are limited, so register now below to avoid disappointment.

https://bit.ly/3QPp8IH

#finance #moneytraining #moneymanagement #wealth #money #marketing #sales #debt #leverage #property #investment #Homeownership #financialplanning #moneymanagement #financialfreedom #section24tax #financialindependenceretireearly 

In this episode:

Market slowdown has already started in UK and US.

Sales activity slowing as mortgage rates soar.

Property slowdown usually follows a stock market fall, which has happened.

Affordability at record high

Average UK salary - £31,772 (2021)

Average UK house price £278,000 (March 2022)

278,000/31772 = 8.75 x average salary to buy an average property in the UK

Inflation over 8% in US and Eurozone, which means higher interest rates.

Higher rates could crash the already weakened economy.

How will UK market react?

A 20% drop in prices will still only leave us to the market was in 2020.

Buying and selling at auction – UK Property Talk

JOIN ME FOR UK PROPERTY TALK SAT 4 June 2022 10AM

Buying and Selling at Auctions – click here to register

https://contexttraining.aweb.page/p/c1e369d0-56b1-45a3-8264-0c0a7e875d23

FREE TRAINING – PROPERTY INVESTING SECRETS

This Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday 8 June 2022 at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

https://bit.ly/3DlSlCL

Soaring oil and gas prices are crippling western economies and ordinary people are suffering. But there is a way western leaders can end the energy crisis in an instant…watch video. 

Check out full video - https://youtu.be/t-yniGn_SKA

ECB Warns Of Housing Market Bubble

The European Central Bank has warned this week that a housing market correction – caused by faltering economies, inflation and the Ukraine war – could put banks at risk of defaults and hit low-income families.

Windfall tax to help people with fuel bills announced

In the UK, Chancellor Rishi Sunak has announced a £5 billion package to ease the burden on soaring energy bills for millions of households. The aid will be funded by a controversial ‘windfall tax’ on energy companies which have profited from record oil and gas prices.

Every household will receive £400 through their energy bills and the poorest will also receive £650 to help with the rising cost of living.

US Fed is planning more restrictive measures to curb inflation including higher interest rates.

Letting Agents could be putting landlords at risk of prosecution

Most letting and managing agents do a good job for landlords who prefer to keep their buy-to-let properties at arm’s length.

However, not every estate agent keeps up with the raft of changes in legislation impacting property rentals in the UK, and a few are completely unaware of the current requirements.

There are currently 160 pieces of legislation directly and indirectly affecting tenants and buy-to-let landlords in the UK!

The Housing Act and Landlords and Tenants Act are the two main laws governing buy-to-let renting, but they overlap with many other regulations which can easily trip up landlords who reply on their letting agent to ensure they are acting within the law. 

In most cases the landlord is ultimately held responsible when things go wrong. This can lead to massive fines, penalties and even imprisonment.

In my experience, I found that you should never totally depend on an estate agent to keep you legal when dealing with tenants – because they often do not know all the rules and procedures, which will put me at risk of prosecution or failure to get possession in the event of a dispute or rent arrears.

For instance, failure to supply a tenant with required documents such as the How to Rent Guide and the Prescribed Information could result in a judge refusing to grant possession should the landlord need to resort to eviction. 

I have been shocked to find that many established agents did not even know what the Prescribed Information was!

This could be due to lack of training, but could also to down to laziness and just not bothering to carry out any CPD (Continuous Professional Development).

This is particularly prevalent in one-man-band ‘mom and pop’ agents where, unlike national and franchised companies, the owner operator is too busy to research all the changes or attend courses.

Franchisees must undergo strict training to start trading, as well as ongoing training and CPD. They are also supervised and have access to support and systems which keep them on the right track.

Estate Agents do not have a great reputation in Britain, ranking up there with politicians and lawyers! The poor service I have received over my 30 years as a property investor from estate agents has prompted me to launch my own estate agency business under the excellent Open House Estate Agents franchise banner.

The training and support for my team and I has been outstanding, and I will be officially launching in June. 

FREE TRAINING – PROPERTY INVESTING SECRETS

This Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you 120 minutes of valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday 1 June 2022 at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT 

https://bit.ly/3DlSlCL

JOIN ME FOR UK PROPERTY TALK SAT 28 MAY 2022 10AM

Number of rental properties growing in the UK – click here to register

New research shows the number of UK rental properties has grown by over 1.1m in the last decade, placing the UK in the top 10 globally when it comes to the balance between homeownership and renting.

Register - https://contexttraining.aweb.page/p/c1e369d0-56b1-45a3-8264-0c0a7e875d23

click here to register

Global share prices experienced sharp falls in UK, US and Asia as rising prices and slowing economies spook investors.  

On Wednesday, US shares recorded the biggest one-day drop in two years since the start of the pandemic. 

The NASDAQ plummeted 4.7% and has opened down again continuing a longer-term decline – down 18% YTD and the DOW JONES declined 14% since the start of 2022. 

It’s not only tec stocks being sold off. Blue chips, like Unilever and Tesco’s, have also dropped by 4.4% and 5% respectively. The biggest Faller on the UK market was Royal mail plummeted 12%. The UK FTSE 100 index fell 150 points today.  

Inflation

Inflation is eating away at your savings as well as costing you more to live. The buying power of your money in the bank is falling by around 10% every year, which means that £1000 will be worth just £900 next year. 

In other words, in 12 months’ time your £1000 will buy you the equivalent of £900 of the same goods. In the meantime, the price of those goods are going up by 10%.  

If inflation figures were calculated in the same way as they were previously headline rate would be double today’s official rate.

Main points:

• Retail prices index rising by 13% pa and includes the price of all goods excluding property costs – which have gone up massively.
• Manufacturers price rises rising by over 15% pa.
• Commodities, such as oil, wheat, fertiliser and animal feed have gone up by 50% to 100% in some cases.
• The war is not causing inflation, sanctions are. 
• UK economy fell in April by 0.1%.
• US economy declines for first time since 2020. 

What can you do to protect yourself and your family?

UK Property Talk Show 10AM Saturday.

Click link to join: - https://bit.ly/3sjxRa1

How can you not only protect your savings against inflation but also increase the value of your money!

Invest in real assets which appreciate in value over time, such as property and shares in profitable businesses.

Join me on UK Property Talk to discuss this and other property matters this Saturday at 10 am.

Click here to register for UK Property Talk - https://bit.ly/3sjxRa1