Money Tips Podcast

Average rents and house prices were still rising late last year, according to official data, although experts a property market slowdown in 2023.

Private rental properties owned by private landlords increased at the highest level since comparable records began seven years ago, figures reveal.

House prices were still rising in the year to November 9 but falling month on month), but the Office for National Statistics (ONS) said the pace of growth slowed.

Private rental prices in the UK rose by 4.2% in the year to December.

Private landlords have been hit by tax and mortgage rate rises, as well as increased compliance costs, which some are passing on to tenants.

The average tenant spends more proportionally on housing costs than homeowners do, and rents are usually higher than a typical first-time buyer mortgage.

Other figures from the ONS showed that property prices increased by 10.3% in the year to November, slowing from 12.4% in October 2022.

• A 10.9% annual increase in England
• A 10.7% rise in Wales
• A 5.5% jump in Scotland and 10.7% growth in Northern Ireland.

England’s prices increased the most in the northwest, up 13.5% over the year, and the slowest in London, a 6.3% increase.

The average UK house price in November was £295,000 - £28,000 higher than a year earlier, a decrease from the previous month's record high of £296,000.

Home buyers have been hit by the rise in mortgage costs as the Bank of England raised base rates during 2022.

The average cost of a two-year fixed-rate mortgage has started to fall since last year’s market turmoil following the mini-budget, but far higher than the start of last year.

The ONS reports that hundreds of thousands of UK homeowners face higher mortgage costs when their current fixed-rate deal expires this year.

More than 1.4 million households will be renewing their fixed-rate mortgage in 2023 - 57% of them currently paying an interest rate of less than 2%. 

A ‘ fixed-rate renewal peak’ between April and June 2023 will hit 371,000 mortgage holders when their deals expire.

George Osbourne’s buy-to-let tax hike and increased legislation has led to 85,000 private landlords quitting the property rental market in the last 5 years – see https://youtu.be/NME3nEu8dAQ.

Although oil and gas prices have come down in recent months, millions of people are still facing a cost of living and have no savings. 

Watch YouTube video - https://youtu.be/mPvjb6MN7To

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. 

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

Join me online on my free live training Wednesday at 7.30PM. 

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

https://bit.ly/3QPp8IH

#money #savings #invest #costoflivingcrisis #inflation #freetraining #interestrates #recession #economy #financialfreedom #rentalprices #propertyprices #privatelandlords #buytoletlandlord

One third of countries will be in recession next year, so there has never been a more important time to get your financial house in order – see my free training https://bit.ly/3isugCr to help you manage your money.

In his first major speech as Chancellor, Jeremy Hunt announced £55 billion ‘fiscal squeeze’ tax changes and measures to cut the national debt whilst stimulating growth including the “biggest programme of public works for 40 years” and a plan to make the UK the world’s next Silicon Valley. 

Watch video version - https://youtu.be/9Y6FcXo22jQ

Markets were reassured by a steady and responsible budget. Highlights:

• Social rents capped at 7% next year, saving tenants an average of “£200 a year”.
• Social rents should increase for private landlords housing social rent tenants by 5%.
• National Living Wage increased and more help poorer pensions and families on Universal Credit benefits.
• Pensions ‘Triple Lock’ retained meaning the largest ‘inflation-linked’ increase to state pensions.
• Hunt wants to bring down national debt as a percentage of national debt over 5 years.
• Extra energy costs reach £150 billion this year – more pain for consumers next year.
• Corporation tax and stamp duty changes to be implemented.
• Capital Gains Tax (CGT) thresholds halved – another tax rise.
• New nuclear power station announced at Sizewell, Suffolk.
• Inflation is the “enemy” of growth. Jeremy Hunt.
• Lowering higher rate tax thresholds from £150,000 to £125,140.
• Freezing tax free allowances – effectively increasing taxes.
• ‘Fiscal drag’ means 3 million people will pay more tax.
• Windfall tax on energy companies increased to 35%.
• Electric vehicles will start paying car tax duty.
• OBR expects housing market to slow down – Stamp Duty reviewed.
• Big tech companies should pay more tax under a new international agreement.
• Review of “workforce participation” – get people on benefits to get a job!
• Crackdown on benefit fraud.

Reality check. World heading into recession

One third of countries will be in recession next year, so there has never been a more important time to get your financial house in order – see my free training https://bit.ly/3isugCr to help you manage your money.

OBR predicts UK recession next year and low growth and 7.4% inflation next year - see 21 Money Saving Tips https://youtu.be/taJgXOqp9O0 – and negative inflation in 2025.

• UK inflation has hit 11.1%.
• Interest rates could rise again.
• £100 billion to service UK national debt.
• £177 billion more borrowing next year.
• Rishi gave away billions, Jeremy is taking it back, as he said, “it has to be paid for”.
• The UK always pays its debts, he reassured the markets.

I have space now for a small group of people I can work with to mentor them to success in any economy.

To help you get through this and come out stronger at the other end I am offering subscribers a Free Wealth Discovery Accelerator Call. 

If you are struggling to grow your income and reduce costs in the economic winter, I will personally speak to you to help you accelerate your wealth building journey.  

If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call

#recession #money #economy #freetraining #moneytraining #coaching #mentor #positive #makemoney #managemoney #budget #jeremyhunt #inflation #tax #fiscaldrag

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. 

• In the last 5 years, 85,000 landlords have quit the rental property market!
• Government red tape, planned legislation, increased costs and tax changes are to blame.
• Now they must contend with higher mortgage rates and the end to ‘no fault evictions.
• Demand for rental properties up 14%, some areas by 200% rise in enquiries say Rightmove.
• Available properties to rent dropped 35% in the last year, according to BBC report.

A quarter of UK adults have less than £100 in savings, according to a survey by the Money and Pensions Service.

Watch YouTube video version - https://youtu.be/NME3nEu8dAQ

The research found that 17% have NOTHING set aside, 5% have less than £50 and 4% between £50 and £100 in savings.

As the cost-of-living soars, the figures predict that millions of Britons living in one of the richest countries in the world have no savings.

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. 

Recessions create opportunities to make money and build a fortune if you have the correct mindset.

For more ideas and tips, see out my new training to help you get control of your finances in 28 days!

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

#freetraining #savemoney #moneysavingtips #mortgage #creditcarddebt #costofliving #goals #houseprices #property #getcontroloffinances #money #halifax #housingmarket #interestrates #inflation

If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call

The world’s economies are in turmoil. Even the mighty German economy drag the EU into a long recession according to the EC.

But what about YOUR economy? What are you doing right now in your ‘U’conomy’?

Migrants do very well in a recession. Why? Because they don’t watch the news! Brian Tracy.

Watch video on YouTube - https://youtu.be/USSP2m6xYmw

I want to work with a small group of people to help you not only survive but THRIVE in the recession.

In the meantime, here are 7 quick money tips:

I have space now for a small group of people I can work with to mentor them to success in any economy.

If you would like to work with me to help you thrive in any economy, click on the link below to book a free Wealth Accelerator Discovery Call - https://calendly.com/charleskelly/wealth-accelerator-discovery-call

#recession #money #economy #freetraining #moneytraining #coaching #mentor #positive #makemoney #managemoney #briantracy #zigziglar #jimrohn

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

• House prices will plummet by 8% in 2023 
• Stay flat for the following four years, Lloyds Banking Group has predicted.
• Britain’s biggest mortgage lender issued a pessimistic outlook for the UK economy 
• Setting aside £668m to cover bad debts.
• The bank fears that rising interest rates – which they predict could reach 4% by 2024 - will make mortgages less affordable.
• ONS data says the price of the average home rose by 13.6% in the year to August to £296,000. 
• An 8% fall will not put values below the rapid rises over the last two years.
• The Bank of England hints base rates could rise by 0.75-1% when it meets in November as it fights to tackle 10% inflation.
• Wholesale lending rates have eased after fixed rate mortgages topped 6% following the disastrous mini budget.

New buy-to-Let investment deals are no longer viable with 6%-7% mortgage costs even with a 25-30% deposit – see:

Higher interest rates will KILL buy-to-let property market

Cash buyers are unaffected by mortgage rates of course, but investors have traditionally used leverage and maximum borrowing to expand their portfolios, but higher rates have moved the goalposts.

The Nationwide has reported that UK house prices fell for the first time in over a year last month. Prices fell by 0.9% month-on-month in October.

Over 100,000 borrowers are reaching the end of their fixed rate deals every month at which time they will suffer sharp increases in payments. Many will face mortgage rises of 2-300%.

Britons are facing a long winter of strikes and higher energy and food prices, despite wholesale prices of gas and oil falling from their highs.

Other news

Is the dollar losing its status as the world’s reserve currency?

For more ideas and tips, see out my new training to help you get control of your finances in 28 days!

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

#freetraining #savemoney #moneysavingtips #mortgage #creditcarddebt #costofliving #goals #houseprices #property #getcontroloffinances #money #halifax #housingmarket #interestrates #inflation

With energy bills, fuel and interest rates soaring, there’s never been a more critical time to make savings and learn how to manage our money to the best of our ability. I cover many more tips and money-making ideas in my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr.

Please LIKE and SHARE – WATCH YOUTUBE VIDEO - https://youtu.be/taJgXOqp9O0

Here are some tips to help you save and accumulate more money.

1 Pay yourself and save first, spend what’s left

2 Avoid credit card debt interest

3 Track your income and expenditure

‘T’ for ‘track’ is included in my programme, Master Your Money the S.M.A.R.T Way training. Check it out for free - https://bit.ly/3isugCr. 

4 Start saving and investing

Check out www.gov.uk/individual-savings-accounts for more information. Check for the best cash ISA rates at Moneyfacts. Shop around and be prepared to move your money to obtain the best rates. 

5 Emergency or contingency funds

6 Loyalty doesn’t always pay - switch suppliers

Check your latest utility statements and check out comparison sites, such as uswitch or moneysupermarket.

7 Reduce your car insurance

8 Review your mortgage

‘R’ for ‘review’ is part of my programme, Master Your Money the S.M.A.R.T Way training. Check it out - https://bit.ly/3isugCr.

9 Check your tax code to pay less to HMRC 

10 Look for old bank accounts and pension policies 

11 Check for any entitlements to benefits.

12 Reduce your grocery bill 

13 Avoid wasting food 

14 Explore local charities for help – there is an abundance of food given away by supermarkets

15 Check your workplace or private pension

16 Check your state pension and NI contributions level

17 Use loyalty cards, price match and vouchers and deal finders 

Try hacks like VoucherCodes ‘DealFinder’ as a plug-in on Chrome to be alerted to the best deals while buying online.

There are hundreds of money saving apps and discount offers, such as Sweatcoin and BetterPoints, where you can get paid to walk and exchange your steps for store discounts and freebies.

18 Cut energy bills 

Check out the Energy Saving Trust for some great energy and money saving hacks. 

19 Sell unwanted stuff on resale platforms

You can turn unwanted clothes into cash using resale platforms such as Depop, Vinted and eBay.

20 Mindset – avoid emotional spending and blowing your salary on payday

In my programmes and YouTube Money Tips Podcast videos I talk about money mindset. A recent survey by Nationwide’s Payday Saveday revealed that 1 in 5 people blow over half their spare monthly wages within 48 hours of payday! 

21 Plan, organise and forecast

The key is in planning and organising your expenditure, work, goals, relationships and life! As in the first tip, prioritise essential expenditure and your savings pot, before spending. 

Finally, searching for the best deals, tracking and reviewing your finances and being mindful of spending money on things to don’t really need will not only help you get through the current crises but help you form lifelong habits that will enable to build wealth.

For more ideas and tips, see out my new training to help you get control of your finances in 28 days!

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

#freetraining #savemoney #moneysavingtips #mortgage #creditcarddebt #energybill #costofliving #goals #foodbank #getcontroloffinances #money

Truss DOWN but Mortgage Rates UP to 14-Year High as 100,000 borrowers reach end of fixed rate deal every month

• Prime Minister Liz Truss resigns after 38 days in office following a tumultuous few weeks
• A new party leader and Prime Minister will be voted in by members by 28 October
• Will ‘the markets’ get the leader they want with higher taxes, pain and austerity?
• As mortgage rates hit new high, 100,000 reach end of fixed rate deal every month
• Average two and fiver-year fixed rate deals reach 6.65% and 6.51%
• Bank of England will raise rates again next month to fight inflation
• Food prices rise at fastest rate for 42 years
• Tax plans and Hunt budget in doubt
• Markets and Pound rise on news

Watch video version - https://youtu.be/bYVdg1ySjuM

What does this mean for you?

FINANCIAL EDUCATION FOR FINANCIAL FREEDOM

Whatever you do, don’t do ANYTHING unless you are financially educated.

Can you change the economy, market or government policy?

No!

Can change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

YES!

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to get control of your money and change your financial blueprint.

Check out my new training to help you get control of your finances and learn how to build real wealth in 28 days!

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

#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage #jeremyhunt #tax #liztruss

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

Example of buying a £500,000 property with a £20,000 a year rent or 4% yield. That’s all very well but if you are then borrowing money on say an 80% mortgage, in the past your mortgage payments based on a 2% interest rate would be £8000 a year leaving you a gross profit before cost of £12,000 per annum.

Then interest rates went up to 4% meaning that your mortgage payments rose to £16,000 per annum.

Watch video version on my YouTube channel, Charles Kelly Money Tips Podcast https://youtu.be/JarTWcAvAoc

At 5% your mortgage payments will be £20,000, in which case you would not even break even after paying costs such as insurance and letting agency fees.

At 6% per annum your mortgage payments would be £24,000 a year leaving you with a loss of £4000 per annum before costs.

However, that’s not the whole story. Rates are expected to go higher and have already breached 6% for the residential market based on five-year fixed rates.

At 8% the interest only mortgage on a £400,000 loan Will be £32,000 a year.

Even if you only borrowed £300,000, the mortgage payment will be £24,000 a year not only leaving you a loss but an obtainable from the lender which would want a buffer zone in case of rental void. 

The higher the interest rate the less you can borrow.

It’s unlikely that the lender would give you more than £200,000 based on an 8% interest rate, which would mean that you would need £300,000 as a deposit.

In short, higher interest rates will wipe out any hope of a monthly residual yield or profit for buy to let buyers using islands value by to let mortgages.

Bearing in mind that the high growth model for most investors is based on using maximum leverage and borrowing against their properties, higher interest rates will wipe out a large percentage of the potential buyers as the deals no longer stack up.  

Learn how to invest and build wealth.

The Bank of England were forced to bail out the pensions industry after it nearly collapsed and brought down the financial industry with it.

Whatever you do, don’t do ANYTHING unless you are financially educated.

Question: What can you do to change the economy, market or government policy?

Answer: Nothing!

Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

Answer: EVERYTHING!

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

Check out my new training to help you get control of your finances and learn how to become financially free in 28 days!

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

#money #business #stockmarket #property #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining #mortgagerates #fixedratemortgage 

New warnings of a housing slowdown were issued this week as the number of people struggling with mortgages are forecast to reach a 15-year high, the Royal Institute of Chartered Surveyors (RICS) said. The RICS is the body which regulates and controls the surveyor who carry out surveys and valuations for all the major lenders in the UK.

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Details:

• House sales in September hit their lowest levels since 2020/21
• Rising mortgage rates will drive house prices down this year, say RICS
• Bank of England said this week the number struggling to pay mortgages will rise next year
• New house buyer inquiries fell in September for he fifth month in a row, say the RICS.
• Fewer properties for sale has pushed up housing prices, but warned this will end.
• Banks, such as HSBC have issued similar warnings of a housing market slowdown
• Higher interest rates will make buy-to-let purchases unsustainable
• Fixed rate deals have reached around 6%, a 300% rise and a gamechanger 
• Mortgage lenders will not lend to investors if deals do not stack up financially
• Up to 200,000 households will need to remortgage in the next year, say BBC.

The news comes of top of a brewing financial crisis in the City of London as the Bank of England are again printing money to bail out financial institutions – this time it’s the people running your pension funds.

Tail wagging the dog as centrals banks tell elected governments how to run the country!

Question: What can you do to change the economy, market or government policy?

Answer: Nothing!

Question: What can you do to change YOUR economy (Uconomy), your policy, your financial and money management and your earnings?

Answer: EVERYTHING!

Subscribe to FINANCIAL EDUCATION FOR FINANCIAL FREEDOM for exclusive training and special offers to help you manage and increase your wealth!

In this podcast, I take you through the basics of getting control of your finances and learning how to become financially free.

Watch video version - https://youtu.be/J8xSMrLDsNw

With the cost-of-living crisis getting worse, there’s never been a better time to learn how to manage your money and change your financial blueprint.

Check out my new training to help you get control of your finances and learn how to become financially free in 28 days!

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

If you’re REALLY serious and want to get started right away…Claim your free Wealth Accelerator Discovery Call with me now:

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

#money #business #stockmarket #property #foodprices #freetraining #financialfreedom #inflation #costoflivingcrisis #moneytips #getcontroloffinances #freetraining