Money Tips Podcast

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 #liztrussSee omnystudio.com/listener for privacy information.

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  See omnystudio.com/listener for privacy information.

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! See omnystudio.com/listener for privacy information.

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 See omnystudio.com/listener for privacy information.

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

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 See omnystudio.com/listener for privacy information.

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 See omnystudio.com/listener for privacy information.

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

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. Claim your free Wealth Accelerator Discovery Call with me: https://calendly.com/charleskelly/wealth-accelerator-discovery-call #freetraining #business #money #savemoney #buytoletinvestor #propertyinvestor #mortgages #secondincome #financialfreedom #economy #money #rentalproperty #buytolet #investing #property #houseprices #NRLA #rentalproperty #rentcontrol #inflation See omnystudio.com/listener for privacy information.

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:   Apple Google Amazon Microsoft Tencent McDonalds Visa Facebook Alibaba 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? 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 Claim your free Wealth Accelerator Discovery Call with me: https://calendly.com/charleskelly/wealth-accelerator-discovery-call #freetraining #apple #microsoft #google #business #money #savemoney #buytoletinvestor #propertyinvestor #mortgages #secondincome #financialfreedom #economy #money #rentalproperty #buytolet #investing #property #houseprices #queen #royalfamily #princecharles #harryandmegan #WilliamandKateSee omnystudio.com/listener for privacy information.