Money Tips Daily by Charles Kelly, former IFA and author of

London first time buyers will need an extra £34,500 of income on average due to rising interest rates

· Sterling crisis could drive up interest rates

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

Key takeaways

· First time buyers, the largest buyer group in the UK with nearly 177,000 transactions so far in 2022, will need an average of £12,250 more on their income to get a mortgage based on 4% interest rates

· A whopping £34,500 extra is needed in the London market, but less than £5,000 in more affordable regions

· Property interest among FTBs is up by 46% year on year as they drive the market from the bottom up.

· More than half of their enquiries for three bedroom homes and an average price 10% higher than this time last year (£269,000).

· FTBs are looking further afield in cheaper areas to buy a home, meaning less time spent saving up for a deposit.

· Zoopla data shows 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?...

5 Tips to help First Time Hom Buyers...

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.

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 financesand learn how to become financially free in 28 days!

Click to join: https://bit.ly/3isugCr

UK Property Talk – Learn how the rich legally avoid billions in tax and protect their assets from HMRC

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

· Inheritance Tax Planning

· Wills and Trusts

· Company incorporation S.24

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

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

Contact details for Milan Patel at Customized Financial Solutions

LinkedIn: https://www.linkedin.com/in/stampdutyreclaimlondon/

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 JOINTHE 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 financesand 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

House sales peak in July as energy bills set to rise by 80% in October

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

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

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

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

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

Watch videoversion - https://youtu.be/IvzKs3n2C6U

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

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

Due to 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.

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

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 JOINTHE 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 financesand learn how to become financially free in 28 days!

Click to join: https://bit.ly/3isugCr

#property #freetraining #propertysecrets #money #banks #savemoney #buytoletinvestor #propertyinvestor #energy bills #mortgages #secondincome #financialfreedom #energycrisis #energypricecap

7 Inflation Busting Tips As UK Inflation Hits 10.1%, A New 40-Year High, Food Costs Soar 14% And Wages Fall Behind Cost Of Living

Food costs are rising by over 14% which has helped push UK inflation into double digits for the first time since 1982.

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

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

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

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

The price of energy, petrol and diesel costs are contributing to inflation, say the ONS, as well as staples such as bread, cereals, milk, cheese and eggs rising the fastest, while the cost of vegetables, meat and chocolate were also 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 financesand 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 FALL For First Time In Over A Year Say Halifax As UK Economy Shrinks In Second Quarter

· UK house prices suffer their first drop in a year according to figures compiled by Britain’s biggest lender.

· Average property worth £293,221

· Annual growth highest in Wales at 14.7%

· UK Economy shrinks and heads into recession

Average UK house prices dipped in July 2022 for the first time in a year, according to property market data from Halifax.

Watch video version https://youtu.be/EAFwHV0VQWQ

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

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

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

Last week I reported that HMRC property transactions data for June shows there were 96,920 sales, on a non-seasonally adjusted basis, the 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 - https://youtu.be/Q4ycEfF7ER4

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.

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

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 JOINTHE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

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

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

Don’t damage your credit rating

Things to remember before you cancel payment plans:

· You have a contract

· Energy companies can issue late payment notices to credit referencing agencies and forcibly enter your property to instal a pre-payment meter.

· Risk of CCJ – County Court Judgement

· Poor credit history can last for 6 years.

· If you fall behind it will be difficult to catch up and pay the debt.

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

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

Make your money 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 JOINTHE 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…

https://bit.ly/3pd8RR0

Bank of England Raise Rates by 0.5%, as UK heads towards recession

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

Mortgage affordability rules relaxed by Bank of England

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

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

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

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

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

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

A slowdown in the property market means more opportunities for 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 JOINTHE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

6 Tips To Get On The Property Ladder

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

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

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

FREE TRAINING – BEGINNERS PROPERTY SECRETS

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

Live training Wednesday at 7pm UK time.

CLICK TO JOINTHE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

#property

#property ladder

#firsttimepropertybuyer

Property transactions down 55% on 2021, according to official figures.

House prices may be rising but sales are slowing at an alarming rate.

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

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

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

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

FREE TRAINING – BEGINNERS PROPERTY SECRETS

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

Live training Wednesday at 7pm UK time.

CLICK TO JOINTHE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

LIVE NO MONEY DOWN HALF DAY WORKSHOP

LIVE in person event - No Money Down Property workshop

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 unmissable in-person event on the 2nd August.

At the No Money Down Discovery in-person event, you can discover:

The hidden secret of how the rich get and stay wealthy. How you could buy property using joint venture funds. How to control and cash flow other people's properties. No Money Down matrix that anyone can follow. The six steps to a RESULT in any negotiation. Where to invest, and why you would want to invest there!

Join the event by registering here now! Tuesday 2nd August in person in Peterborough from 9am to 1pm.

https://bit.ly/3FLiyMm

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

Banks Ripping Off Customers, As Millions Move Money Into Property

In today’s Money Tips Podcast:

· Banks short-changing savers

· Investors turn to property for better returns

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

· Property transactions slowing according to official data.

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

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

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

The current UK base lending rate is 1.25%.

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

Meanwhile, banks leaving 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.

Property transactions slow dramatically according to official figures.

HMRC Headline Figures

The latest transactions data...Watch video - https://youtu.be/uequ4BrXSO0

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 TONIGHT 27 July 2022 at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

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