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The Property Podcast

TPP536: Mortgage Market Update

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.8 • 2K Ratings

🗓️ 22 June 2023

⏱️ 25 minutes

🧾️ Download transcript

Summary

Hundreds of mortgage products being pulled off the market, shocking inflation figures and an increasing base rate. What’s happening in the mortgage market?  (0:56) News story of the week  (2:28) Exciting announcement   (4:55) What’s going on with the mortgage market?  (5:48) What’s the current state of the market and has this ever happened before?  (6:17) What’s happening with the base rate/swap rates and how are lenders responding?  (6:59) Do you see this period of volatility lasting much longer?  (8:07) What kind of knock-on effect is this having? Are fewer people applying?  (8:42) What should you be doing if your fix is coming to an end?  (11:26) Is a 2-year fix the best option?  (12:37) What are the good products right now and what kind of rates should people be looking at right now?  (14:05) Are clients adamant on getting a lower-interest-rate product even though they have higher product fees?  (14:55) Are off-plan and new builds easier to get finance on?  (15:30) Are you expecting to see more attractive products to come to market soon?  (16:49) What do you think will happen in the next 1-2 years?  (17:53) Is diversification a part of your strategy?  (19:40) Can you still operate in this market?  (20:50) The importance of using a broker  (22:59) Hub Extra  Links mentioned:  Welsh Government Green Paper  Property Hub Select  Property Hub Invest  Tour De France: Unchained  Enjoy the show?  Leave us a review on Apple Podcasts - it really helps others find us!  Sign up for our free weekly newsletter, Property Pulse  See omnystudio.com/listener for privacy information.

Transcript

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0:00.0

Hey everyone, it's Robby here with RobD, and you are listening to the Propsy Podcast.

0:08.0

What should you be doing with your milk juice right now?

0:10.3

If you're buying or remodging, there's so many decisions to make.

0:14.4

Fixed variable, long-term fix, short-term fix, well today, with the aid of an expert,

0:19.5

we give you all the answers and all the guidance that you need to be making the best decisions.

0:30.9

Welcome to the Propsy Podcast, where we take time out from advising a multi-million-pound

0:35.1

property fund and putting together hundreds of deals every year for our clients to bring you some

0:39.3

of the knowledge we've gained along the way for free. And like we are today, bring some of

0:42.8

our network in to do the same. So we are going to be helping you through the number one issue

0:47.9

that investors are grappling with right now. And make sure you stick around to the end,

0:51.7

because you have extra, we're sharing something we've been watching, which is both going to entertain you

0:55.6

and inspire you.

0:57.2

First up, it's time for our new story of the week. And I must admit, I nearly missed this one,

1:01.9

because the headline isn't grabby, it's Welsh Government green paper. That's it. That's the headline.

1:08.1

But luckily Rob, you were aware that this actually meant something and told me to click on it.

1:12.9

And it's not just our Welsh listeners who'll be interested in this, because what's proposed here

1:17.6

may be adapted elsewhere.

1:19.3

Yep, because the slightly more exciting headline beneath the headline is that the Welsh Government

1:23.1

is looking at rent control. Yep, it's kind of happening in Scotland, albeit on a very long-term

1:29.0

temporary basis. And now it's been talked about in Wales as well. At the moment, this is a consultation,

1:34.7

but as we all know from consultations, it really means it's going to happen and we just want a

1:39.8

tiny bit of input maybe into how it happens. So while there's no date on this yet, it seems highly

...

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