Money Tips Podcast

Part 1 of the 5-day challenge to learn how to get control of your finances and spending in 28 days.

Learn more - https://youtu.be/uAREkaOI4e4

#money #moneymanagement #financialfreedom #savemoney #spending

The UK rental market is set to undergo a significant transformation with the recent publication of the Renters Reform Bill. This proposed legislation aims to strengthen the rights of tenants while limiting the power wielded by landlords. With the increasing demand for affordable and secure housing, the bill seeks to create a fairer and more balanced rental sector. 

Let's summarise some of the key provisions outlined in the bill that will impact both tenants and landlords:

• Section 21 ‘no fault’ evictions to be abolished.
• The end of section 21 “no fault” evictions, meaning a landlord will only be ‘allowed’ to evict a tenant if they have a “reason”, e.g. antisocial behaviour, unpaid rent, or a need to sell the property
• A new ombudsman to resolve disputes between tenants and landlords
• A new property portal that landlords MUST register with, allowing tenants to view information about their landlord before signing a tenancy agreement
• Tenants to be given the legal right to request a pet, such as a dog or cat, in “their” home
• A new Decent Homes Standard that will set minimum standards for the quality of housing
• Blanket ban on benefit tenants to be abolished. Will be illegal for landlords and agents to have blanket bans on renting to tenants in receipt of state benefits. 

The Bill will become law after passing through the commons and House of Lords where it will be debated and scrutinised by MP’s and Lords. The opposition Labour Party largely support the tougher legislation and the also government has majority in parliament.

See also: 

Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up 

Misery For Mortgage Holders As UK Interest Rates Rise AGAIN - https://youtu.be/BNe5eV37iiM

What is your biggest money worry?

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live money management training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth

This week the price of gold reached an all time high of $2081, amid US bank failures and quarter percent interest rate hikes from the Federal Reserve and ECB.

Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH

Investors sought safety as another US bank faces collapse following the rescues of First Republic Bank by JP Morgan.

Shares in California-based PacWest bank tumbled by 50% and Western Alliance also plunged by almost 40%, as depositors lost confidence. 

Watch video version - https://youtu.be/Glb75nkR0rw

Shares in several US regional banks have plummeted causing the collapse of Silicon Valley Bank, while the regulators appeared to limit support to the major banks. This has caused a mass transfer of depositor funds to the safety of a big banks putting the whole regional bank system at risk.

The Bank of England is expected to follow the Fed and ECB and raise UK base rates this month pouring more misery on borrower and driving the economy into official recession.

See: Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up - https://www.youtube.com/watch?v=ziTf2jOagB8&t=179s

Is gold a safe investment?

Will property prices fall?

What is your biggest money worry?

We are living in challenging economic times.

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live money management training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #blackstone

Bank of England follow Fed and ECB with twelfth successive interest rate rise by 0.25% to 4.5%.

Mortgage rates are of much higher than the base rate with some borrowers seeing their payments double after their fixed-rate deals have expired.

Average inflation recently jumped back over 10%, but mortgage costs, rent, food and energy costs have risen by far more.

The Banks’ governor Andrew Bailey expects inflation to start going down this year as wholesale energy costs filter through to consumers.

• Will property prices keep falling?
• Should you get out of stocks?
• Official inflation rate stands at 10.1% - five times the target rate.
• Food inflation is 19% according to official figures.

Watch full video - https://youtu.be/BNe5eV37iiM

See also: 

Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up 

What is your biggest money worry?

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live money management training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth   #bankofengland #inflation #money #FED #ECB 

This week the price of gold reached an all time high of $2081, amid US bank failures and quarter percent interest rate hikes from the Federal Reserve and ECB.

Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH

Investors sought safety as another US bank faces collapse following the rescues of First Republic Bank by JP Morgan.

Shares in California-based PacWest bank tumbled by 50% and Western Alliance also plunged by almost 40%, as depositors lost confidence. 

Shares in several US regional banks have plummeted causing the collapse of Silicon Valley Bank, while the regulators appeared to limit support to the major banks. This has caused a mass transfer of depositor funds to the safety of a big banks putting the whole regional bank system at risk.

The Bank of England is expected to follow the Fed and ECB and raise UK base rates this month pouring more misery on borrower and driving the economy into official recession.

See: Interest Rates Will Rise, Property Prices Will Fall And Opportunities Will Open Up - https://www.youtube.com/watch?v=ziTf2jOagB8&t=179s

Is gold a safe investment?

Will property prices fall?

What is your biggest money worry?

Watch video version https://youtu.be/ziTf2jOagB8

We are living in challenging economic times.

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live money management training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #blackstone #bankofengland #fed #money #gold #goldprice 

The Bank of England (BoE) and Federal Reserve have hinted that further rate rises are on the cards in order to tame rising inflation.

Join me online on my free live money management training. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH

Today’s Podcast Summary

• Wholesale market rates point to a rate rise. 
• Inflation in the UK is currently 10.1%.
• The BoE inflation target rate is 2%!
• What do you think the BoE are going to do?
• This will officially put the economy into recession, cause property prices to fall and more homeowners lose their houses through repossession.
• Do they care?
• RICS report predicts a fall in property prices of around 5%.
• Opportunities for first time buyers and property investors as prices fall.
• Blackstone have just raised $30 billion to buy property.

What is your biggest money worry?

Watch video version https://youtu.be/ziTf2jOagB8

We are living in challenging economic times.

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live money management training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers #estateagent #housepricefall #finance #moneytraining #moneymanagement #wealth #blackstone #bankofengland #fed #rich #money

The Institute for Fiscal Studies (IFS) is planning a comprehensive pensions review following research which highlighted concerns about the "substantial risks" facing future generations of pensioners. 

Watch video - https://youtu.be/_7_cd2UWUEg

Summary

• The Institute for Fiscal Studies (IFS) has announced plans for a comprehensive pensions review.
• The multi-year review will examine the effects of changing economic conditions and public policies on the future of financial security in retirement, including how these effects differ by gender, ethnicity and across the UK.
• The review will also consider the impact of changing demographics and longevity trends, as well as the impact on self-employed workers.
• Reports will be shared over the next two years, with concrete recommendations and options for reform to be presented in Summer 2025.
• IFS research revealed that 60% of middle-earning private sector employees who are contributing to a pension are saving less than 8% of their earnings. Additionally, nearly 90% are saving less than the 15% of earnings previously recommended by Lord Turner’s Pensions Commission.
• The review will also consider the risk facing future generations of pensioners and the risk that too many are saving too little for retirement.
• The Pensions Regulator welcomed the plans for the review and will support the development of industry-led solutions to help ensure people have financial security in retirement.

Here are seven ways to retire financially free:

1. Start Saving Early: The earlier you start saving for retirement, the more time your money has to grow. You can use tax-advantaged retirement accounts/plans to maximize your savings potential.
2. Live Below Your Means: Live a modest lifestyle and avoid overspending on unnecessary items. Create a budget and stick to it, and consider downsizing or relocating to a lower cost of living area.
3. Invest Wisely: Invest your money wisely in a diversified portfolio of stocks, bonds, and other assets. Consider consulting with a financial advisor to help you create an investment strategy that aligns with your risk tolerance and goals.
4. Maximize Your Income: Consider ways to increase your income, such as taking on a side job or starting a small business. Maximize your earning potential by developing new skills, pursuing advanced education, or seeking a higher-paying job.
5. Pay Off Debt: Avoid carrying high-interest debt, such as credit card debt, into retirement. Pay off your debts as soon as possible to reduce your financial obligations and free up money for savings.
6. Plan for Healthcare Costs: Healthcare costs can be a significant expense in retirement. Consider purchasing long-term care insurance or a supplemental health insurance policy to help cover these costs.
7. Have a Retirement Plan: Develop a retirement plan that takes into account your goals, income, and savings. Monitor your plan regularly and make adjustments as needed to ensure that you stay on track to meet your retirement goals.

Millions of people have lost faith in the complex and muddled pensions system, preferring to do their own thing by investing in things like buy-to-let property, business or trading directly on the stock market.

Whilst this can work for some, ignoring the many benefits of pension investing, such as tax relief, carries risk.

Need help with your money?

We are living in challenging economic times.

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live money management training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers  #housepricefall #finance #moneytraining #moneymanagement #wealth #money #buytolet #rentalproperty #pensions #IFSpensionreview #maxwell #definedcontributionpension

Residential rents in the capital soar by almost 20% as workers return to the city.  

London Mayor Khan wants the government to give him powers to impose a cap on rents, but is that the answer or will more regulation exacerbate the shortage of available rental properties?

Tens of thousands of landlords are quitting the market and estate agents Knight Frank estimated that 144,000 landlords have retired in the last year. 

See 85,000 UK Landlords have quit the rental market - https://youtu.be/NME3nEu8dAQ 

Furthermore, higher interest rates and mortgage restrictions have rendered many buy-to-let property deals unviable. 

Buy-to-let landlords have had to contend with higher taxes, and more red tape in the last few years, prompting many to look for alternative business opportunities. 

There are signs that the government may be getting the message.

According to as yet unsubstantiated rumours, the government may be pushing back its planned introduction of tighter EPC requirements. 

However, the abolition of Sec 21 no fault evictions looks like it is going ahead, despite the fact that there is no workable replacement.  

With a pending recession and higher interest rates, house prices have slumped by more than 4% from that peak, according to March's figures from the Nationwide Building Society.

Prices have fallen for five consecutive months as the Bank of England struggles to control inflation.

Does this mean there will be a 2008-style crash? Much depends on government moves to balance the economy, as no Prime Minister wants to face a general election during a property crash.

If you would like to know more about property, money, management and wealth building tips, I’m running a free webinar this week on Wednesday evening at 8 pm. 

Need help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live money management training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #remortgage #firsttimebuyer #mortgagerates #homebuyers  #housepricefall #finance #moneytraining #moneymanagement #wealth #money #EPC #buytolet #rentalproperty #Section21

Last week, the Bank of England announced an interest rate hike of 0.25%, which will have a significant impact on the UK property market. The change will impact mortgages, remortgages, and first-time buyers, and it comes just in time for the last day of the Help to Buy scheme.

Join me online on my free live training Wednesday at 8.00PM. Places are limited, so register now below to avoid disappointment. https://bit.ly/3QPp8IH

Money Tips Podcast guest, Miriam Nawagamuwa CeMAP, Mortgage and Protection Advisor with Larkin Financial Services Ltd gives her expert views on the mortgage market.

Fixed-rate mortgages will remain unaffected by the interest rate hike, which is good news for those who have locked in their mortgage rates for a fixed period. However, for those who are looking to remortgage, this could mean an increase in monthly payments.

Watch YouTube Video Podcast Version: https://youtu.be/iRrL3GRY3-8

The Bank of England's interest rate hike is a response to rising inflation, which has been fuelled by increasing energy costs and supply chain disruptions caused by the pandemic. The aim is to curb inflation and stabilize the economy, but the move could also affect property prices.

The Nationwide just announced the largest fall in house prices since 2009 and said that prices were down 3.1% on March 2022.

Higher interest rates mean that mortgages will become more expensive, which could lead to a decrease in demand for properties. This could result in a slowdown in the property market, as potential buyers may become more cautious about making big financial decisions.

The end of the Help to Buy scheme is also significant for first-time buyers. The scheme has helped many people get onto the property ladder by offering government-backed equity loans. From the 1st of April 2023, the scheme will come to an end, which means that first-time buyers may find it harder to get on the property ladder.

One alternative option for first-time buyers is the Lifetime ISA, which is a tax-free savings account that can be used to buy a first home or used after age 60 for retirement. The account allows savers to put away up to £4,000 per year, and the government will top up the account with a 25% bonus - £1,000.

In summary, the Bank of England's interest rate hike will impact the UK property market in several ways. Fixed-rate mortgages will remain unaffected, but remortgages, tracker and variable rate mortgages, as well as first-time buyers will be hit. 

The end of the Help to Buy scheme could also make it harder for first-time buyers to get onto the property ladder. As always, it's essential to seek professional advice before making any financial decisions in the current climate.

Need more help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#interestrates #property #mortgages #fixedratemortgage #remortgage #firsttimebuyer #helptobuy #mortgagerates #homebuyers #LifetimeISA #variableratemortgage #trackerratemortgage

This week, both the Federal Reserve in the United States and the Bank of England have announced a 0.25% interest rate hike. This move comes in response to rising inflation and a strengthening economy. While interest rate hikes may be good news for savers, they can also have a significant impact on the mortgage and property market.

One of the most immediate impacts of the interest rate hike will be on fixed-rate mortgages. These mortgages are often preferred by buyers because they provide a predictable monthly payment over the life of the loan. However, when interest rates rise, the cost of borrowing increases, which means that fixed-rate mortgages will become more expensive. This may make it more difficult for some buyers to qualify for a mortgage, or force them to adjust their budget to afford a higher monthly payment.

The interest rate hike could also impact the demand for homes. As the cost of borrowing increases, some buyers may decide to hold off on purchasing a home or look for a less expensive property. This could lead to a slowdown in the housing market, which could ultimately impact property values.

In addition, rising interest rates can also impact the rental market. As the cost of borrowing increases, landlords may have to raise their rents to cover their increased expenses. This could make it more difficult for renters to find affordable housing.

On the other hand, rising interest rates could be good news for savers. As banks and other financial institutions increase their interest rates, savers may be able to earn a higher return on their savings. This could encourage more people to save, which could ultimately help to strengthen the economy.

Inflation is another factor to consider when thinking about the impact of interest rate hikes. As the cost of borrowing increases, so too does the cost of goods and services. This can lead to higher inflation, which can ultimately impact the economy. However, by raising interest rates, the Federal Reserve and the Bank of England are trying to keep inflation in check and prevent it from spiralling out of control.

In conclusion, the interest rate hikes announced by the Federal Reserve and the Bank of England this week are likely to have a significant impact on the mortgage and property market. While fixed-rate mortgages will become more expensive, savers may be able to earn a higher return on their savings. The demand for homes may also slow down, which could impact property values and the rental market. As always, it is important to monitor the situation and adjust your financial plan accordingly.

Need more help with your money, finances or debt?

We are living in challenging economic times.

I want to show you how can you:

• Not only survive, but thrive in a recession or depression?
• Get control of your finances and spending?
• Save and invest for your future?
• Learn about money and finance?

To help you, I am running a free training webinar.  

3 Steps To Success Money Management!

I want to take you to the next level, help you get control of your money, learn how to invest and become financially free. 

Join me online on my free live training Wednesday at 8.00PM. 

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

https://bit.ly/3QPp8IH

#money #savings #invest #costoflivingcrisis #inflation #freetraining #recession #economy #financialfreedom #moneymanagement #moneymakingideas