TPP576: Mortgage Market Update

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 28 March 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

The mortgage market has been tough recently, with rates forever changing and mortgages being pulled unexpectedly. The markets are anticipating rate cuts later in the year – but will that translate into cheaper mortgages, and what should investors be doing now? Today, we've got our expert Nick Shepherd on board to help untangle the craziness of it all, giving you the scoop on what's happening now, what the future holds and what you should do if you're thinking about getting a mortgage in the near future - tune in! (1:07) News story of the week (2:47) Would you like to work at Property Hub (3:24) Q&A with our mortgage expert Nick (4:20) What’s been happening in the mortgage market? (5:14) What impact does the recent BOE base rate announcement have on the market? (5:51) Is now the time to lock in a new fixed product or is it worth waiting a little longer? (6:25) If mortgage rates become more favourable for borrowers, do lender fees also improve? (6:55) What rates and fees should investors be seeking out? (7:16) What kind of rates should people be stress testing at?  (7:45) What’s your thoughts on investors having difficulties refinancing due to rental cover requirements? (8:23) Should we anticipate higher deposits or increased equity in refinancing will affect loan-to-value ratios? (9:22) What’s the latest getting new mortgages, both new purchases and refinances? (9:52) Are valuations improving? (10:21) What advice would you offer investors currently seeking a new mortgage or refinancing? (10:50) How do you foresee the mortgage market shaping up over the next 6-12 months? (13:55) Hub Extra Links mentioned: Zoopla rental market report - March Property Hub jobs Enjoy the show? Leave us a review on Apple Podcasts - it really helps others find us! Subscribe to the Podcast      Subscribe to our YouTube channel    Sign up for our free weekly newsletter, Property Pulse Find out more about Property Hub Invest See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hey everyone it's Rob B here with Rob D and you are listening to the
0:05.9	Property Podcast last week the Bank of England made a big announcement on interest
0:11.0	rates and interest rates are a big deal when it comes to mortgages so rightly so we
0:17.0	have a mortgage expert on the show this week to help us navigate what does this
0:21.3	mean right now what does the future hold? And what
0:24.8	should you be doing if you need to take a mortgage out in the near future? Welcome to the Property Podcast. Thank you for joining us. This is the show where we love to
0:38.0	share our knowledge every week that we've gained from being involved in property day in, day out for well over a decade.
0:45.0	But sometimes we need a bit of support.
0:46.8	So we are bringing in a special guest this week to bring you the very latest on what is happening in the world of mortgages.
0:53.2	So if you're thinking about a refinance, if you've got a deal going through,
0:56.0	or you just want to keep up with how the mortgage market is going to affect your plans,
1:00.1	you'll want to stick around.
1:01.5	And you'll also want to stick around to the end where
1:03.9	Rob is sharing something that he's done to make it more likely that he hits his
1:07.2	goals. It's time for our new story of the week and this week's news comes from
1:11.7	the Zoopla UK Rental Market report for March.
1:16.0	And there's some really interesting data here.
1:19.4	First of all, UK rent inflation has slowed down to a two-year low of 7.8%.
1:26.4	So still very high, but way down on where it has been.
1:30.3	Now obviously this is an average and when you look at regionally what's happening
1:34.1	it gets even more interesting because Scotland the area with rent controls still
1:39.6	sees double digit rental inflation of 11.6% and that's with rental controls.
	...

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