TPP244: Changes galore! A mortgage market update

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 16 November 2017

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week we’re very lucky to be joined by mortgage broker Dave Cookson to talk us through all the changes going on in the mortgage market at the moment. And there are a lot of them! We talk about: What the impact of the recent base rate rise has been so far, and what’s likely to happen in the future How lenders are applying the recent "portfolio landlord" requirements How the increased regulation around affordability has affected the market What’s happening with Limited Company mortgages right now The products that have caught Dave’s eye recently What he thinks will happen in the year ahead It’s been one heck of a year for the mortgage market, so now is the perfect time to take stock. This is a must-listen as you start planning your strategy for next year! RESOURCE OF THE WEEK Surely it can’t be…yes, it’s another interactive map! This tool from the BBC tells you how much of your local area is built on. We were shocked to learn that across the UK as a whole, only 6% of land is built on and more than half is farmland. Well worth a look! NEWS THIS WEEK The Mortgage Works has entered the Limited Company buy-to-let market – which is likely to have a huge effect on the market, and lead to other lenders getting involved too. We talk about this in more detail on the show with our guest, Dave Cookson. We also couldn’t help pointing out that we predicted this nearly a year ago in our 2017 predictions episode! JOIN THE CONVERSATION What’s your experience of getting a limited company mortgage been like? Have you been affected by the new affordability rules? We’d love to know, so join the discussion in The Property Hub! IF YOU ENJOYED THE PROPERTY PODCAST, PLEASE LEAVE A REVIEW ON ITUNES Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hello everyone and welcome to the property podcast I'm Rob B with of course Rob D and this is episode
0:06.2	244 and this week I'm gonna let David tell you what we're talking about. Yes,
0:14.0	and face the strain.
0:16.0	Change it is.
0:18.0	No one of the richer man.
0:21.0	Yes, welcome to the Property Podcast. I'm Rob D, he's Rob B. That was Dave B. And we've also got
0:27.6	Dave C joining us on this week's episode. It's almost like we've thought this through.
0:31.6	We are joined today by
0:32.8	mortgage broker extraordinaire Dave Cookson. He is going to be talking us through
0:36.4	the many changes in the mortgage market. This is going to be a real must
0:40.1	listen episode. We give a bit of stick to some mortgage brokers sometimes we say how
0:45.1	important a good broker is and many of them are not so good. Dave is one of the
0:49.3	good guys he really knows his stuff and we're going to be talking about loads of things that you need to know before you apply for your next mortgage.
0:56.2	And if by magic our news story this week is also related to mortgages, but we've not just eked out some new story that has minor relevance
1:05.1	to us all, it's actually really important, particularly important for people who invest through
1:09.1	limited companies, because for the first time a major lender has come to the limited company market
1:15.6	and that lender is the mortgage works and the mortgage works for those who don't
1:19.7	know who's behind it is nationwide one of the country's biggest lenders. So that's a
1:24.8	huge moment for the limited company market. Yeah this is absolutely massive. This is
1:29.2	not just any old lender throwing their hat into the ring nationwide is if not the biggest
1:33.9	then they're they're certainly in the top too they are huge the mortgage works is
1:37.8	their by-to-let brand the fact that they're getting into limited company by-to-let
	...

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