Prosperity Podcast with Nicole Bremner

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EP140: I was seeing the other brokers in the industry presenting businesses for sale.  As a broker, we value on turnover, but as a buyer, you value on profits because you want to see what profit you can generate from that business.

If you're interested in buying or selling a lettings or estate agency Lucy Noonan is the expert with over 20 years of experience in the industry, having worked with big names like Belleville, LSL, Hunters, and the Lomond Group. Having left corporate life, Lucy founded Atomic Consultancy, specialising in the sale of lettings and estate agency businesses nationally.

In this episode, Lucy shares insights into the acquisition process, emphasising the importance of understanding numbers, preparing for due diligence, and the value of goodwill in transactions. She reflects on her journey in the estate agency industry, from starting as a negotiator to working on large-scale acquisitions. Lucy also discusses the growth of Atomic Consultancy, revealing the challenges and experiences.

For those looking to buy or sell, Lucy provides valuable advice on preparing for the
process, knowing your numbers, and the role of goodwill. She sheds light on the current environment for buying and selling agencies, highlighting tax benefits and the impact of potential government changes.

As Lucy looks to the future, she shares her passion for focusing on key areas, particularly London, and possibly launching another brokerage in the financial services sector.

CONNECT WITH LUCY
Website: https://atomicconsultancy.com/
LinkedIn: https://www.linkedin.com/in/lucy-noonan/

HOSTED BY: Nicole Bremner, Nicole is an investor, speaker, write and podcaster. After a frantic decade building out a property portfolio worth millions throughout London recent personal and professional setbacks forced her to reassess what really matters. After a period of healing Nicole realised that what comes after setback is success. Nicole focusses on telling these stories of #reboundaftersetback and the lessons learned along the way. 

CONNECT WITH NICOLE 

Website: http://www.nicolebremner.com/podcast
LinkedIn: https://www.linkedin.com/in/nicolebremner
Instagram: http://instagram.com/nsbremner

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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EP139: Two biggest stories from the recent data is that some price data is actually showing a small increase in house prices. Second, rents just continue to increase. We dig into why. 

Key points: 

1. Prices starting to level off. Rightmove is showing prices are actually increasing on a month on month basis. How much of this is lack of supply?
2. HMRC transaction levels are 20% lower than a year ago. Most of this is down to a lack of availability of credit due to interest rates being so high. Sellers are also sitting out with only those who desperately need to sell selling.
3. Interest rates remained at 5.25% for the second month in a row. While inflation still not at the 2% target, 6 out of the 9 Bank of England members decided to keep rates on hold. Commentary from the BoE show that they believe the interest rates have topped out. 
4. Mortgage rates have come down about a percent since June. 
5. Rents increased 12% nationally y/y and are forecast to increase another 25% over the next two years*. People are unable to afford mortgages so they're forced into the rental market. Combined with 43% fewer properties available since 2019.
6. Landlords are not winning by demanding higher rents as most need to service much higher mortgages. 
7. Two areas where rents declined in Scotland and West Midlands, -0.8% y/y and -0.5% y/y, respectively. 

We also talked about the soaring homelessness, especially in Liverpool and even the excess consumption of cheap clothing by Brit

Another interesting discussion was that small corporate BTL landlords are still paying excessive arrangement fees of 7%. Eyeedul even saw a one year fixed rate of 3.75% with a 15% arrangement fee!! It's kicking the can down the road as that fee is added to the end of the mortgage while it helps to keep cashflow manageable. It's no wonder that some landlords are choosing to go on a one year bridge as they're cheaper than BTL products. 

Join us live on 11 December as Eyeedul and I continue the discussion on UK house prices. 

https://www.hamptons.co.uk/research/reports/market-insight-forecasts-2023/rental-market-forecast#/

Join us live every month as Eyeedul Haque of My Property Consultant and I crunch the data behind the UK house price headlines.  

HOSTED BY: Nicole Bremner, Nicole is an investor, speaker, write and podcaster. After a frantic decade building out a property portfolio worth millions throughout London recent personal and professional setbacks forced her to reassess what really matters. After a period of healing Nicole realised that what comes after setback is success. Nicole focusses on telling these stories of #reboundaftersetback and the lessons learned along the way. 

CONNECT WITH NICOLE 

Website: http://www.nicolebremner.com/podcast
LinkedIn: https://www.linkedin.com/in/nicolebremner
Instagram: http://instagram.com/nsbremner

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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EP138: What struck me this month in my discussion with Eyeedul is the continued strength of the rental market. Nationally rents increased 10.3% y/y while in London it's 13%. 

“It isn’t just tenants who are feeling the financial strains of increasing rental prices. The exacerbating economic issues around rental prices are also leaving landlords with increasing rent arrears, resulting in struggles to make mortgage payments and other expenses. It really is a vicious circle, with very few winners. We see no end to the madness, with rental supply coming under more pressure as Landlords try and exit the market.” Andy Halstead, CEO HomeLet & Let Alliance

I asked Eyeedul: "We are seeing again, the number of renters increasing dramatically. In August alone, there were 50,000 new tenancies added to the market. The number of renters chasing each home has jumped from 20 to 25 in the last five months according to Rightmove. In 2019 there were six phone calls or email requests per property and that rose to 20 by the spring of 2023 and now 25. We’ve got Andy Halstead, CEO of HomeLet & Let Alliance, saying that landlords are leaving the market and we've got an increase in demand with a decrease in supply but are we actually seeing any figures that support that landlord exit?" Take a listen and let me know what you think.

House prices: Nationwide, Halifax and Rightmove have reported a consistent message: -5.3%, -4.9% and -0.4% over the last 12 months. 

 ONS figures show increases of 0.6% nationally and -0.8% in London. This ONS data has a 3-month lag time, as it records the prices that properties actually sold for and is taken from data from the Land Registry. The rate of house price growth is levelling off, but certainly not in free-fall.

Interest rates: The Bank of England rates have remained at 5.25% which is very welcome news. Rates may plateau now, as they will not decrease until 2024 until inflation targets of 2% are met. 

 Mortgage rates: Lenders are continuing to be competitive as they are fighting for market share, and SWAP rates are decreasing which gives scope for reduction in rates.

My Property Consultant still forecasts UK house prices to level off for the remainder of 2023, which means that we are now in a buyers’ market. We cannot expect large discounts on properties, but there are certainly less people looking which makes it an ideal time to buy property. A softer market has been priced into the marketing prices, and properties which are keenly priced will sell.

Join us live every month as Eyeedul Haque of My Property Consultant and I crunch the data behind the UK house price headlines.  

HOSTED BY: Nicole Bremner, Nicole is an investor, speaker, write and podcaster. After a frantic decade building out a property portfolio worth millions throughout London recent personal and professional setbacks forced her to reassess what really matters. After a period of healing Nicole realised that what comes after setback is success. Nicole focusses on telling these stories of #reboundaftersetback and the lessons learned along the way. 

CONNECT WITH NICOLE 

Website: http://www.nicolebremner.com/podcast
LinkedIn: https://www.linkedin.com/in/nicolebremner
Instagram: http://instagram.com/nsbremner

Support the show

Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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"I was a little bit surprised to be diagnosed. It became quite a difficult journey for a period of time. My response on the January 19th 2021 was naïve. They asked me to go in to get results and I didn't realise that meant bad news. My response was 'this had better not kill me' and it had a 40% chance of killing me...better odds than some are facing."

EP137: It was lovely to have Susannah back on the pod. When asked why she has been so quiet of late she revealed that she’d had not just one, but 3 1/2 cancer diagnoses. Since then she has been going through the slow process of rebuilding her body, mind and business. 

What got Susannah through this difficult time, financially at least, was her property portfolio which we discussed at length. Particularly how she managed a rapid restructuring following the first diagnosis and whether she in-sourced or out-sourced and her learnings from that time. 

I also asked Susannah how she got through the awful criticism she received at the hand of a well-known property forum a few years ago. Susannah was very honest about the pain they inflicted and shared that the perpetrator of the vilest attacks is now facing the largest defamation case in UK history. I did not see that coming. Live by the sword, die by the sword. 

Susannah is lovely but also highly knowledgeable and generous with that knowledge. Well worth following  YouTube account for more.

Follow Susannah Cole on these channels :
Website: https://www.thegoodpropertycompany.co.uk/
YouTube: https://www.youtube.com/c/TheGoodPropertyCompanySusannahCole
Instagram: @susannahcoleuk
Facebook: https://www.facebook.com/SusannahColeTGPC
LinkedIn: https://www.linkedin.com/in/susannahcole/
Twitter: @SusannahColeUK

HOSTED BY: Nicole Bremner

Nicole is an investor, speaker, write and podcaster. After a frantic decade building out a property portfolio worth millions throughout London recent personal and professional setbacks forced her to reassess what really matters. After a period of healing Nicole realised that what comes after setback is success. Nicole focusses on telling these stories of #reboundaftersetback and the lessons learned along the way. 

CONNECT WITH NICOLE 

Website: http://www.nicolebremner.com/podcast
LinkedIn: https://www.linkedin.com/in/nicolebremner
Instagram: http://instagram.com/nsbremner

Support the show

Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

Send us Fan Mail

EP136 : Once again I'm joined by property expert Eyeedul Haque to discuss the recent data on the UK property market, with a focus on recent developments related to mortgage rates, inflation and property prices.

We discuss:
- Mortgage payments are set to increase by £500 for approximately 1m households.
- The Bank of England's interest rate has reached a 15-year high at 5.25%.
- Inflation stands at 8.7%, and the government aims to reach a 2% target.
- Effectiveness of the monetary policy in dampening inflation, noting that it might be causing inflationary pressures.
- Rental market is seeing significant rent increases due to rising costs in the economy.
- Prediction that interest rates will likely hit 6% by the end of the year, with some sources suggesting rates may reach 6.5%.
- Housing market is not experiencing a hard landing or freefall but rather a levelling off.
-  Continued shortage of new homes.
- New 100% mortgages aimed at first-time buyers suggest confidence.

Key moments:
1:37- Nicole asks about the proportion of the market represented by the 2 million mortgages affected by refinancing this years. Eyeedul explains that 2.4 million households with fixed-rate mortgages will be affected by the end of 2024, which is about a third of mortgage holders.
3:13 - Discussion about the recent increase in interest rates, reaching the highest level in 15 years. The Bank of England's efforts to control inflation, which stands at 8.7%.
4:54 - Eyeedul explains how rising interest rates impact various aspects of the economy, including rents, and predicts that monthly mortgage repayments on average will increase by £500.
7:42 - Rent prices have been increasing, with national rents up by 10% and London rents up by 14.6%. The trend continues with a 10% increase nationally and 9.3% in London.
8:24 - Speculation that interest rates could hit 6% or possibly even 6.5% by the end of the year.
9:50 - Despite some forecasts predicting declines, Eyeedul notes that actual house price decreases have been less severe.
11:22 - Eyeedul explains that the housing market may enter a flat phase for the remainder of 2023.
12:42 - The introduction of 100% mortgage products by some banks suggests confidence in the housing market's stability.
22:45 - Key takeaways: House prices are not in freefall, but rather experiencing a bottoming out. Rents continue to rise due to interest rates and inflation. Interest rate increases are expected to stabilise and peak.
23:47 - Predictions for the future: Eyeedul predicts that house prices will flatline for the remainder of the year, with opportunities for buyers, and advises investors to consider areas with more stable property values.
26:47 - Rental increases and capital value growth assumptions used for modelling, indicating a 5% annual increase for both.

My special guest is Eyeedul Haque, a seasoned expert on housing economics and  an insightful commentator on the trends shaping the current housing market. As an experienced property consultant, he has a steady finger on the pulse of market fluctuations and how they impact homeowners, particularly in relation to mortgage payments. His approach is rooted in real-time data analysis and clear, understandable insights, making him a trusted voice on promptly evolving economic scenarios. He applies this passion in guiding property buyers through the intricacies of market trends and property management.

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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EP135: As interest rates soar, inflation rises, and labour shortages continue, homeowners are left wondering what the future holds. Property consultant, Eyeedul Haque, reveals the data behind the headlines about the state of the housing market and the impending mortgage payment increases.

"What has actually happened is the rate of growth has slowed but it's nowhere near the Knight Frank’s and the Savill’s with their very negative forecasts; that's a huge positive."

In this episode, we:

·      Delve into the complexities of the housing market and who is actually impacted by mortgage rate increases.
·       Discuss the climb in interest rates and impact on inflation.
·       Dissect the mismatch between market data and realistic pricing, its significance, and repercussions.
·       Predict future investment opportunities and the course of house prices and rents.

The key moments in this episode are:

00:00:00 - Impact of Mortgage Rate Increase
00:02:34 - Effectiveness of Monetary Policy
00:05:09 - Labour Shortage and Inflation
00:07:43 - Future Interest Rate Increases
00:16:11 - The Housing Market and Lenders' Urgency
00:17:27 - Discrepancy Between Rightmove and ONS Data
00:19:27 - Realistic Asking Prices and Commercial Market
00:22:06 - Market Stability and Opportunities
00:25:04 - Landlords and Long-Term Investments

My special guest is Eyeedul Haque, a seasoned expert on housing economics and  an insightful commentator on the trends shaping the current housing market. As an experienced property consultant, he has a steady finger on the pulse of market fluctuations and how they impact homeowners, particularly in relation to mortgage payments. His approach is rooted in real-time data analysis and clear, understandable insights, making him a trusted voice on promptly evolving economic scenarios. He applies this passion in guiding property buyers through the intricacies of market trends and property management.

The resources mentioned in this episode are:

·       Consult with a reputable mortgage broker or lender to explore the best rates available for your fixed rate mortgage. Take advantage of the competitive mortgage market and book a rate before your fixed rate period ends. 

·       If you have a property portfolio or are a buy-to-let investor, explore the best mortgage rates for landlords. The best available rates for two-year fixed-rate buy-to-let mortgages are currently 4.7%, the best five-year fixed-rate is 5.35%, and the best tracker rate is 4.54%. 

·       Review your budget and consider ways to mitigate the impact of mortgage rate rises. Look for areas where you can reduce expenses or increase income to offset any increase in mortgage payments. 

·       Stay informed about the housing market.

Join us live every month as Eyeedul Haque of My Property Consultant and I crunch the data behind the UK house price headlines.  

https://www.linkedin.com/in/nicolebremner/
https://www.facebook.com/NicoleSBremner
https://www.youtube.com/c/NicoleBremner

Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

Send us Fan Mail

EP134: "Nationwide, Halifax and Rightmove all reported increases of 7.2%, 8.3% and 7.2% over the last 12 months. Compared to last month, the annual figures were 9.5%, 9.8% and 8.7%." 

But prices are showing the first signs of slowdown. Some pundits are saying prices will drop by 30% over 2023. What about rental demand? Take a listen to see what the data is indicating. 

What do house price movements mean for you? I was joined live by Eyeedul Haque of My Property Consultant and we discussed:
 

• Which indices are going up or down
• What the forecasters are saying and why they differ so widely
• What is happening with rental demand and why
• Comments from a conveyancing lawyer about the two year lag in Land Registry data
• Comments from another conveyancing lawyer about the time delays to property transactions and how they compare to other countries - spoiler alert - dismally! 

All that and more. Follow me on LinkedIn to be notified of the next live discussion on 22 December where we look back at the indices for the year  www.linkedin.com/in/nicolebremner.

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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EP133: "I think most people appreciate someone making a purchase easier for them. Selling is not about persuading someone to buy something that they do not need but making a decision easier. ‘People buy from people,’ is a common saying and our job is to ensure that people buy us and not the product."

Meet Bob Harvey, now non executive director at SeventySeven Wealth Management after 25 years in management at St. James's Place. In this interview he reflects upon his career in sales and why it's now seen as a dirty word as well as wellness and his views on retirement. 

"Compared to 30 years ago, the consumer is far better off. The industry is regulated, and people are more financially aware. The financial adviser is also treated as a professional person (which was not the case 40 years ago). There has been a shift in perception from financial advisers as product salesmen to genuine professionals."

In this interview we discuss: 

• the importance of sales
• how Bob's father was one of the founding directors of Tesco’s when they set up their first store after the war in Brixton market
• how important it is to present yourself well
• going out cold calling shops in Maidstone in the snow in the late 1970s
• striking the balance between work and life and lots more.

"I think the whole ‘work hard, play hard’ thing is really important. Working eight-hour days gives definition to downtime. I think a lot of people fall down because they do not give themselves enough time off. Here, I do not mean physically, but emotionally. It is important to be able to put things to one side, or in a box, and say I am going to focus on something else."

You can follow Bob on LinkedIn and read more about him on SeventySeven's website. 

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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EP132: "Nationwide are quoting a 9.7% increase this month compared to 10% last month. Halifax are also quoting 9.8% this month compared to 11.5% in the previous month. So the rate of change of house price growth is slowing, but there's no evidence of this massive downturn that people are talking about."

I met with Eyeedul Haque of My Property Consultant for a live discussion on the UK house prices. Each month Eyeedul puts together a tracker plotting the changes in the major house price indicators. On a single page you can see the latest data from the Halifax, Nationwide, ONS and others. 

Live on my LinkedIn, Facebook and YouTube, we discussed:

- The indicators, what they are and whether they're leading, lagging or real time
- What September's indicators are, well, indicating
- The reversal of the Truss government's mini-budget and appointment of Michael Gove as housing minister
- Potential interest rate increases and how they will impact house prices
- Making sense of the current turbulent economic environment and how this might impact house prices.

Follow me on LinkedIn to be notified of the next live discussion: www.linkedin.com/in/nicolebremner

"There has been a whirlwind of information and turbulence in the markets - predictions on interest rates, inflation, and general unease caused by the outgoing Prime Minister. These pessimistic news reels are designed to scare us. My aim is to cut through some of those numbers and find out exactly what is happening."

Join us live every month as Eyeedul Haque of My Property Consultant and I crunch the data behind the UK house price headlines.  Our next session will be posted on my LinkedIn, Facebook and YouTube, links below. We hope you can join us as we look at the indicators and explain what they are, what they're indicating and how this might impact your buy, sell and hold strategy. 

https://www.linkedin.com/in/nicolebremner/
https://www.facebook.com/NicoleSBremner
https://www.youtube.com/c/NicoleBremner

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research. 

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EP131: “I need to push myself to build that and get myself to a point where I feel that I am financially secure. And probably that's one of the main drivers for why I'm so passionate about encouraging people to learn about money and understand money and be empowered by it so that they can reap benefits later on.”

Louise co-founded GoHenry in 2012 when she realised that her children needed to learn how to manage money in an increasingly digital world. At the time her son was eight and her daughter was 11. Louise was so frustrated by how much they were buying online without realising the implications that she would pin Apple invoices to the fridge door to help them understand why their £4 a week pocket money was now just 50p. Fast forward ten years and GoHenry now has a community of 2 million customers in the US and UK who fiercely believe that good money management is a vital life skill.

“It’s always fantastic when a customer contacts us and says that their kids' behaviors changed or decisions have changed since they joined goHenry.” 

 Louise is Crowdcube’s top female fundraiser, raising £12m in four rounds on Crowdcube, including a single, record breaking raise of £6m in September 2018.

In this episode we discuss:

1. the launch of goHenry and the moment she realised it was big
2. ways the company is empowering young people to manage their money
3. international expansion into the US and Europe and the challenges brought about by the idiosyncrasies of these markets
4. Louise's own journey and how that's shaped her attitude to money plus more.  

Louise has over 20 years experience in commerce and operations. Prior to goHenry, Louise was at the forefront of the retail industry’s transition to digital, launching the first wave of ecommerce websites for some of the UK’s biggest household names, including Next Directory, John Lewis, The Innovations Group, Past Times and Debenhams. 

“Prosperity to me means that point at which you feel you've got enough, you're financially secure. And I don't think I've reached that point yet. I wish I had started investing and saving earlier.” 

Louise is an authority on financial education and the youth economy and has made regular appearances on BBC radio and TV, including BBC Breakfast. Louise is a big advocate for the power of learning by doing and dedicates time talking to MBA groups at universities around the country.

Find out more about goHenry on their website and Louise Hill on LinkedIn.  

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Disclaimer: The views and opinions expressed in this podcast belong solely to the host and guest speakers. The view and opinions of the guest speakers do not represent that of the host. Always do your own research.