Money Tips Podcast

With some forecasters warning of somewhere between a depression and Armageddon, here are my thoughts on the UK housing market.

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

The UK housing market will shrink - but not necessarily crash - next year, industry experts agree, as the government fights recession and higher mortgage rates.

House prices have been dropping month-on-month with average prices down 2.3% in November from October – the most since the start of the financial crash in 2008 – according to Halifax.

Watch video on my YouTube channel - https://youtu.be/ekDrJUZ6pUg

Price growth will decline in 2023 as soaring inflation hits the economy and forces interest rates up.

As the downturn intensifies, housing indicators are showing red with rates expected to go even higher and the UK goes into a long recession.

The Bank of England is expected to raise interest rates into 2023 from 3.5% now to 4.75%, but there are signs that the rate of inflation is slowing.

Higher interest rates will hit buy-to-let landlords and investors, as deals fail to stack up.

Move from cities to the country is slowing, as more people move back to the office.

Property experts forecast property price declines of 5% - 12% next year, although some warn of a crash by 15% to 20%. 

Mortgage rates have since fallen back since the disastrous mini-budget in September to an average five-year fix at 5.6% according to Moneyfacts – still far higher than a year ago. 

UK mortgage lenders expect to lend 23% less to homebuyers in 2023 following a two-year boom.

UK Finance forecast gross mortgage lending for house purchases to decline to £131bn in 2023 from £171bn in 2022 and a peak of £189bn in 2021.

Leading UK lenders have met with government officials to discuss measures to ease the burden on around 90,000 people in mortgage arrears, the FT reports.

Property sales are set to drop to 1.01m next year from 1.27m in 2022.

Savills warns of a severe drop in transactions, to 870,000, and a 10% fall in house prices in 2023.

Estate agents Jones Lang LaSalle forecasts a 6% drop in house prices next year.

Both firms expect a 1% price growth in 2024, as interest rates fall back and inflation cools.

The Nationwide expects a “modest decline” or “soft landing” in house prices next year, but lenders seldom talk of a property crash. The lender said 85% of mortgage balances are currently on fixed interest rates.

The Bank of England said 4m households face higher mortgage payments next year.

Typical payments could rise by £250 to £1,000 a month causing severe financial difficulties for 220,000 households.

Capital Economics’ central forecast is for house prices to fall by 12% by the end of 2023, but Andrew Wishart, senior economist at the consultancy, said in a worst-case scenario prices could plummet by up to 20%. “The initial drop in house prices has been sharper than in the financial crisis or the early 90s, “For affordability to return to a sustainable level by the end of 2023, when we think mortgage rates will still be around 5%, the average house price would have to drop by 20%. 

On the other hand, were market and mortgage interest rates to drop faster than we expect, that would limit the fall in prices.”

Rent prices have surged to record levels due to a shortage of properties to rent and growing demand, as well as a slowing buy-to-let market and many first-time buyers are opting to rent in the hope of lower mortgage rates in 2023/24. Some 85,000 landlords have quit the buy-to-let market in the last 5 years. 

See my Money Tips Podcast video - https://youtu.be/NME3nEu8dAQ

UK private rents jumped by 4% in November, the highest since records began in 2016, official figures showed.

Savills forecasts rental growth rising to 6.5% before slowing to 4% in 2024.

Globally, many markets seem overheated and, in a bubble, – Sydney and Auckland for instance. 

China’s property market boom appears to be over with a 20% decline.

In my next episode, I will be talking to one of Toronto’s leading realtors about his housing predictions for 2023.

As with all economic forecasts, much depends on government action and the prevailing winds of the economy, but more rests on your action in your U’conomy!

Your goals for 2023

• How was 2022 for you?
• Did you achieve your goals?
• What are your financial goals for 2023 and how do you plan to achieve them? 

I wish you a happy and successful new year!

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.  

Check it out for free - https://bit.ly/3isugCr.

#property #rentalmarket #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #goals #plans #interestrates #bankofengland 

Interest rates rise again to highest level in 14 years pushing the economy and property market deeper into recession…

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

The three main Central banks raised interest this week, with the Bank of England hiking rates by .5% to 3.5%.Hey, do you think they might be colluding? 😊

Watch video version: https://youtu.be/WCmTLiUlra0

UK interest rates are now at the highest level for 14 years and it is the ninth time in a row that the Bank of England has put up base lending rates, despite a small fall in inflation to 10.7% in November.  

The bank has set a ludicrous 2% target inflation rate but is using a sledgehammer to crack a nut.  

The Federal reserve, ECB and Bank of England are hellbent on driving the world into recession in order to keep down inflation, which they caused with their money printing policies. 

The Fed and Bank of England were both asleep at the wheel in 2008 which caused the financial crash.

Taxpayers in the UK were forced to bail out their friends in the banks.

Then they printed money with a stimulus on a scale never seen before in history, which, surprise surprise, has caused the highest level of inflation since the 1980s.

Now they are aggressively raising interest rates and driving the economy into recession.  

The Bank of England “predicted” that we were going to the worst recession on history, and then proceeded to make it happen. A self-fulfilling prophecy!

Stock markets fell this week, crypto is in turmoil and property asking prices and dropping.

We can’t do much about these faceless suits, but we can manage and grow our own economy.

Like the Kenny Rogers song says:

You’ve Gotta know when to hold ‘em,

Know when to fold em,

Know when to walk away,

And know when to run!

In other words, you need to understand how money and the markets work so you can make educated moves.

Watch Video - https://youtu.be/WCmTLiUlra0

See also:  

The rich and successful have coaches and mentors, and never stop learning.

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.  

#tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans #interestrates #crypto

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

These are the Rich Habits followed by the wealthy and successful people, and mentors, I have observed.

1. They have a daily routine.
2. They work hard, and smart.
3. They wake up early.
4. They read books.
5. They keep learning.
6. They are good listeners.
7. They work out and exercise. 
8. They eat well and stay healthy.
9. They are disciplined in their lives.
10. They manage their money.
11. They make their money work hard for them.
12. They manage their time.
13. They believe time is money.
14. They avoid procrastination.
15. They avoid negative or toxic people.
16. They are organised and dependable.
17. They make time work for them rather than exchanging time for money.
18. They value family and home life and spend quality time with the family.
19. They are usually nice, personable or likeable people.
20. They are generous, give back through ‘giving’ and charities.
21. They have a strong magnetism, charisma and energy field.
22. They have a relaxed, calm and self-assured manner or energy. 
23. They are leaders in one form or another and lead by example.
24. They get along with people and work well in or build a team around them. 
25. They have strong values or a religious belief or faith or moral code of some kind. 
26. They usually lead law abiding, moral lives, pay their taxes and deal honestly.
27. They have congruency in their lives and live by their own beliefs and standards.
28. They have a clear vision and always know exactly where they are going.
29. They make sure that the people around them are aligned with that vision.
30. They have clear primary long-term and short-term goals.
31. They write down their goals and use tools such as vision boards.
32. They back up their vision with action, clear goals, plans and habits.
33. They have a plan is to reach their long-term vision and goals.
34. They take the long-term perspective and are patient. 
35. They are persistent, see things through and never give up.
36. They invest in themselves and have a coach or a mentor.

Do you have a vision for your life?

Do you have clear, written goals and a plan for achieving them?

Mind your business

Your mind is your business!

What are you putting into your mind?

What are you feeding your mind?

What books are you reading?

How many books have you read this year?

How are you investing in yourself?

What podcasts are you listening to?

What courses and learning are you taking?

Who are you watching and listening to?

Who are you surrounding yourself with?

What do you understand by debt?

Do you know the difference between a credit card and a debit card?

Do you have a plan to get out of debt?

Do you have a plan to build long-term wealth?

Do you have a coach or mentor?

See also:  

The rich and successful have coaches and mentors, and never stop learning.

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.  

#tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

These are the Rich Habits followed by the wealthy and successful people, and mentors, I have observed.

1. They have a daily routine.
2. They work hard, and smart.
3. They wake up early.
4. They read books.
5. They keep learning.
6. They are good listeners.
7. They work out and exercise. 
8. They eat well and stay healthy.
9. They are disciplined in their lives.
10. They manage their money.
11. They make their money work hard for them.
12. They manage their time.
13. They believe time is money.
14. They avoid procrastination.
15. They avoid negative or toxic people.
16. They are organised and dependable.
17. They make time work for them rather than exchanging time for money.
18. They value family and home life and spend quality time with the family.
19. They are usually nice, personable or likeable people.
20. They are generous, give back through ‘giving’ and charities.
21. They have a strong magnetism, charisma and energy field.
22. They have a relaxed, calm and self-assured manner or energy. 
23. They are leaders in one form or another and lead by example.
24. They get along with people and work well in or build a team around them. 
25. They have strong values or a religious belief or faith or moral code of some kind. 
26. They usually lead law abiding, moral lives, pay their taxes and deal honestly.
27. They have congruency in their lives and live by their own beliefs and standards.
28. They have a clear vision and always know exactly where they are going.
29. They make sure that the people around them are aligned with that vision.
30. They have clear primary long-term and short-term goals.
31. They write down their goals and use tools such as vision boards.
32. They back up their vision with action, clear goals, plans and habits.
33. They have a plan is to reach their long-term vision and goals.
34. They take the long-term perspective and are patient. 
35. They are persistent, see things through and never give up.
36. They invest in themselves and have a coach or a mentor.

Do you have a vision for your life?

Do you have clear, written goals and a plan for achieving them?

Mind your business

Your mind is your business!

What are you putting into your mind?

What are you feeding your mind?

What books are you reading?

How many books have you read this year?

How are you investing in yourself?

What podcasts are you listening to?

What courses and learning are you taking?

Who are you watching and listening to?

Who are you surrounding yourself with?

What do you understand by debt?

Do you know the difference between a credit card and a debit card?

Do you have a plan to get out of debt?

Do you have a plan to build long-term wealth?

Do you have a coach or mentor?

See also:  

The rich and successful have coaches and mentors, and never stop learning.

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.  

#tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans

For more great tips and money-making ideas and coaching offers see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

These are the rich habits followed by the wealthy and successful people, and mentors, I have observed.

1. They have a daily routine.
2. They work hard, and smart.
3. They wake up early.
4. They read books.
5. They keep learning.
6. The are good listeners.
7. They work out and exercise. 
8. They eat well and stay healthy.
9. They are disciplined in their lives.
10. They manage their money.
11. They make their money work hard for them.
12. They manage their time.
13. They believe time is money.
14. They avoid procrastination.
15. They avoid negative or toxic people.
16. They are organised and dependable.
17. They make time work for them rather than exchanging time for money.
18. They value family and home life and spend quality time with the family.
19. They are usually nice, personable or likeable people.
20. They are generous, give back through ‘giving’ and charities.
21. They have a strong magnetism, charisma and energy field.
22. They have a relaxed, calm and self-assured manner or energy. 
23. They are leaders in one form or another and lead by example.
24. They get along with people and work well in or build a team around them. 
25. They have strong values or a religious belief or faith or moral code of some kind. 
26. They usually lead law abiding, moral lives, pay their taxes and deal honestly.
27. They have congruency in their lives and live by their own beliefs and standards.
28. They have a clear vision and always know exactly where they are going.
29. They make sure that the people around them are aligned with that vision.
30. They have clear primary long-term and short-term goals.
31. They write down their goals and use tools such as vision boards.
32. They back up their vision with action, clear goals, plans and habits.
33. They have a plan is to reach their long-term vision and goals.
34. They take the long-term perspective and are patient. 
35. They are persistent, see things through and never give up.
36. They invest in themselves and have a coach or a mentor.

Do you have a vision for your life?

Do you have clear, written goals and a plan for achieving them?

Mind your business

Your mind is your business!

What are you putting into your mind?

What are you feeding your mind?

What books are you reading?

How many books have you read this year?

How are you investing in yourself?

What podcasts are you listening to?

What courses and learning are you taking?

Who are you watching and listening to?

Who are you surrounding yourself with?

What do you understand by debt?

Do you know the difference between a credit card and a debit card?

Do you have a plan to get out of debt?

Do you have a plan to build long-term wealth?

Do you have a coach or mentor?

See also:  

The rich and successful have coaches and mentors, and never stop learning.

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training.  

#tax #property #capitalgainstax #finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #landlord #buytoletlandlord #property #makingtaxdigital #richhabits #successhabits #richpeople #wealth #debt #goals #plans

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

UK house prices suffered their biggest drop in 14 years in November, falling by 2.3%, according to the largest mortgage lender The Halifax.

At the same time, London rental prices have soared 17% or £273 per month in the last year.

Other large regional cities have seen similar increases, including Manchester, up 15.6%, Birmingham (12.3%), Glasgow (14.1%), Bristol (12.9%) and Sheffield (2.4%).

The average rent for new lets soared by £117 per month since last year, reaching £1,078 per calendar month.

Rental growth now stands at 12% per year, twice the growth in earnings and accounting for over a third of average earnings for a single person.

Spray Foam Loft Insulation Could Render Your Home “Worthless”

The UK government giving out billions in grants to homeowners to cut energy costs – including installing insulation and even solar panels.

But one type of insulation, spray foam, could make your home value go to “zero”, according to surveyors and property valuers for mortgages.

BBC reported that one couple had their property valued at “zero” by a lender’s surveyor due to spray foam in the loft.

For more tips and money-making ideas and coaching see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

For more tips and money-making ideas see Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

Landlords with more than three properties held in their personal name, or paying higher rate tax, should consider moving their property into a limited company to save tax.

Using a company structure can also help you pass property onto children while mitigating the inheritance tax burden.

It has been 5 years since George Osborne introduced his Sec 24 tax changes, penalising millions of buy-to-let landlords, but you can do something to legally avoid the ‘Osborne gut punch’. 

The process is complex, legal and requires specialist advice. Landlords will incur fees, but the savings more than outweigh the costs.

With the right advice you can legally create a tax-free pot of money!

If you are a landlord or property investor with three or more properties in your own name and would like to save tax email or message me. 

Learn why 85,000 Buy-to-Let Landlords Quit Property Rental Market - https://youtu.be/NME3nEu8dAQ 

Personal Debt Soaring Citizens Advice warns

Half Citizens Advice clients are falling behind with debt payments and budget.

With lending interest rates rising, unlike savings rates, and soaring inflation more and more people are using expensive credit card debt to pay for food.

Citizens Advice guide to dealing with debts

1. Work out how much you owe, who to, and how much you need to pay each month
2. Identify your most urgent debts. Rent or mortgage, energy and council tax are called priority debts as there can be serious consequences if you do not pay them, and so they should be paid first
3. Calculate how much you can cover in debt repayments. Create a budget by adding up your essential living costs like food and housing, and taking these away from any income such as your wage or benefits you receive
4. See how you could boost your income, primarily by checking what benefits you are entitled to, and whether you are eligible for a council tax reduction or a lower tariff on your broadband or TV package
5. If you think you cannot pay your debts or are finding dealing with them overwhelming, seek support straightaway. You are not alone and there is help available. A trained debt adviser can talk you through the options available

Source: Citizens Advice

See: 10 Tips To Avoid Christmas Debt - https://youtu.be/n7vSK5LlONU

The debt charity StepChange reports that the cost of living as their main reason for debt, and seven in 10 of them are women.

Pensions fall by up to 40%! Time to learn how to manage your own money. Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr

UK house prices saw their worst monthly drop for over two years in November as rising interest rates slowed down the property market, the Nationwide has said.

• Prices fell by 1.4% from October 2022 - the largest month-on-month fall since June 2020.
• Annual house price growth saw a "sharp slowdown", the Nationwide building society figures revealed, plummeting to 4.4% from 7.2% in October.
• The lender added the housing market will "remain subdued" in the coming months.

The UK government's own official forecaster predicted that house prices will fall by 9% over the next two years as affordability issues weigh on demand, and the Bank of England said we are entering the worst recession on record.

Watch video on YouTube channel - https://youtu.be/oCJIAiYcbyU

The average property price fell to £263,788 last month from £268,282 in October, the Nationwide said.

WARNING - Spray foam insulation can render your property WORTHLESS – according to RICS surveyors.

Government giving out billions in grants to homeowners to insulate and cut energy costs – including solar panels.

Pension pots lose up to 40% following bond market crisis.

The financial services industry has let us down with poor advice and products, low fund performance and high charges and fees.

Don’t rely on the financial services industry, financial advisers or the government to fund your retirement.

• 3 million people have lost track of their pension pots.
• £27 billion in pensions lies unclaimed in insurance company coffers…visit the ‘gov.uk website to track your old pensions.

Educate yourself to manage your own money, build wealth and row your own boat.

Start with the basics. Check out my new training to help you get control of your finances in 28 days!

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

#finance #financialfreedom #freefinancialtraining #freetraining #money #wealth #marketing #onlinemarketing #pensions #propertyprices #propertymarket #houseprices

Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr

Online marketing expert, Chadesh Parekh of NERO Digital Labs explains how to grow your online business reviews and customer feedback.

• Get more genuine customer reviews
• Use customer feedback to grow your online reputation
• Make more money online organically through reputational marketing

Chandesh Parekh is website accessibility and inclusivity consultant, web developer and online reputation marketer.

Chandesh has been professionally immersed in the world wide web for over 20 years and helps businesses with their online marketing strategies, particularly focussing on customer feedback, ratings and reviews.

You can connect with Chandesh on LinkedIn on at his website.

NERO Digital Labs Link: https://nerodigital.co.uk/services/reputation-marketing/

Check out my new training to help you get control of your finances in 28 days!

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

UK net migration reached a record 504,000 in the year to June, The Office for National Statistics (ONS) reports. 

Check out my new training to help you get control of your finances in 28 days! Click to join: https://bit.ly/3isugCr 

At the same time, the ONS also reports that rents are rising by the fastest rate since records began, despite a slowdown in property sales. Rents in the private sector have increased by 3.8pc in the 12 months to October 2022 - the biggest annual percentage change since records began in January 2016, according to the ONS rent inflation index. Business demand more migrants However, business leaders have called for higher immigration to boost growth and fill millions of job vacancies in the UK. 

The number of recorded Asylum applications which includes illegal migrants trafficked in small boats across the English Channel, hit 73,000 in the year to September, around 15% of all those who arrive in the country in any given period. Migration figures reveal that a large numbers coming here from outside the European Union - 170,000 from Ukraine and 76,000 from Hong Kong under a scheme to resettle people who count as British citizens. International students Included in the net migration figures, 277,000 overseas students came to the UK study, double the number of student visas from the previous year – possibly influenced by the lifting of travel restrictions, according to the ONS. 

The increase in immigration coincides with soaring rents at a time when the property sales market has slowed and thousands of landlords quit the buy-to-let property market - https://youtu.be/NME3nEu8dAQNationwide providers like Serco have earned millions housing asylum seekers and will work with private landlords. 

If you live or work in the North London, Watford or Herts area you might be interested in a face-to-face networking meeting at the Beech House, 49 High Street, Watford, England, WD17 1LJ, Thursday 1 December 10am-12. For more information see: https://www.business-buzz.org/hertfordshire/business-networking-watford

With the UK entering the worst recession since records began, there’s never been a more important time to get your own finances in order and learn how to manage your money and increase your wealth. 

Check out my new free training to help you get control of your finances in 28 days! Free to join: https://bit.ly/3isugCr