Property Transactions Down 55% - UK Property Talk

Property transactions down 55% on 2021, according to official figures.

House prices may be rising but sales are slowing at an alarming rate.

Recent HMRC property transactions data for June shows there were 96,920 sales, on a non-seasonally adjusted basis, the third slowest June for a decade and down 4% on June 2019.

Sales are down 55% compared with 2021, which was the busy stamp duty holiday rush period.

On a monthly basis, sales are down 3.1%, according to the HMRC data.

The seasonally adjusted estimate of UK residential transactions in June 2022 was 95,420 sales - 54.3% lower than June 2021 and 7.9% lower than May 2022.

The figures are based on stamp duty submissions.

HMRC Headline Figures

The latest transactions data:

·        the provisional non-seasonally adjusted estimate of UK residential transactions in June 2022 is 96,290, 55.1% lower than June 2021 and 3.1% lower than May 2022

·        the provisional non-seasonally adjusted estimate of UK non-residential transactions in June 2022 is 8,850, 24.3% lower than June 2021 and 9.5% lower than May 2022

·        the provisional seasonally adjusted estimate of UK residential transactions in June 2022 is 95,420, 54.3% lower than June 2021 and 7.9% lower than May 2022

·        the provisional seasonally adjusted estimate of UK non-residential transactions in June 2022 is 9,110, 21.9% lower than June 2021 and 11.6% lower than May 2022

High Street UK banks, like Natwest, have failed to pass on several Bank of England base lending rate rises to millions of savers. Base rates have been steadily rising from a low of 0.10% in October 2021, which banks have not passed on to savers.

At the same time, they are INCREASING interest rate for borrowers who owe money on their already expensive credit cards, and mortgage rates have risen by up to 300% from around 1% to over 3%.

NatWest increased rates on its credit cards by 2.5% as credit card borrowing in June grew at the fastest rate in nearly 17 years, Bank of England figures reveal. Borrowing on plastic soared at an annual rate of 12.5% - the fastest pace since November 2005.

Mortgage rates have also jumped in the last year adding significantly to the cost of buying a home. For instance, a 2% increase on a £200,000 mortgage will cost borrowers an additional £4000 per annum or £333pm. On a £250,000 loan, the extra cost is £5000 a year or £416pm.

Most lenders will take this additional burden into account when working out the affordability test and adjust the borrowing level downwards. In other words, the borrow must put down a higher deposit or pay less for a property.

The current UK base lending rate is 1.25%.

Is your bank branch closing down?

US Economy shrinks as Fed hikes rates by 0.75%

The US economy contracted 0.9% for the second quarter in a row, technically though not officially considered an economic recession.

The US central bank has announced another large interest rate hike as it fights to control soaring prices in the world's largest economy.

The Federal Reserve said it would increase its key rate by 0.75 percentage points, targeting a range of 2.25% to 2.5%. Meanwhile, banks are leaving millions of savers out of pocket in accounts paying almost ZERO interest – which means their savings are LOSING 9.4% (the official UK inflation rate) every year.

Savers should vote with their feet and move their money to obtain better deals – if they can find a local branch!

Years of artificially low interest rates have pushed millions of investors into buy-to-let property, where the can receive much higher income, as well as growth on their capital.

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

A slowdown in the property market means more opportunities for buyers and investor!

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

FREE TRAINING – BEGINNERS PROPERTY SECRETS

This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training Wednesday at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

LIVE NO MONEY DOWN HALF DAY WORKSHOP

LIVE in person event - No Money Down Property workshop

Click to register as places are strictly limited.

No Money Down isn't as difficult as you may believe... If you want to take the next steps and take advantage of the opportunities that have opened up to you in the past few weeks (massive increase in probate deals, the tsunami of pre-repossession lease options that are available right now and tenant buyer Rent2Own demand at an all time high due to inflation pricing the masses out of the market just to name a few), then join this unmissable in-person event on the 2nd August.

At the No Money Down Discovery in-person event, you can discover:

The hidden secret of how the rich get and stay wealthy. How you could buy property using joint venture funds. How to control and cash flow other people's properties. No Money Down matrix that anyone can follow. The six steps to a RESULT in any negotiation. Where to invest, and why you would want to invest there!

Join the event by registering here now! Tuesday 2nd August in person in Peterborough from 9am to 1pm.

https://bit.ly/3FLiyMm

 

#property #freetraining #propertysecrets #money #banks #savemoney #buytoletinvestor #propertyinvestor

Banks Ripping Off Customers, As Millions Move Money Into Property

Banks Ripping Off Customers, As Millions Move Money Into Property

In today’s Money Tips Podcast:

·        Banks short-changing savers

·        Investors turn to property for better returns

·        Walmart issues profit warning as ordinary people in America struggle with cost-of-living crisis.

·        Property transactions slowing according to official data.

High Street UK banks, like Natwest, have failed to pass on several Bank of England base lending rate rises to millions of savers. Base rates have been steadily rising from a low of 0.10% in October 2021, which banks have not passed on to savers.

At the same time, they are INCREASING interest rate for borrowers who owe money on their already expensive credit cards.

NatWest has just announced a 2.5% increase on their credit card from 15.756 to 18.276, an effective increase of 15%.

The current UK base lending rate is 1.25%.

Credit card companies were charging similar rates when base rats were over 10%, which means they are profiteering from people’s misery.

Meanwhile, banks leaving millions of savers out of pocket in accounts paying almost ZERO interest – which means their savings are LOSING 9.4% (the official UK inflation rate) every year.

Savers should vote with their feet and move their money to obtain better deals – if they can find a local branch!

Years of artificially low interest rates have pushed millions of investors into buy-to-let property, where the can receive much higher income, as well as growth on their capital.

Open House South Herts is advertising property deals in the north of the UK from just £30,000 asking price with yields of between 10 and 15%. – see https://www.facebook.com/estateagentswatfordelstreeandborehamwood

Banks are closing hundreds of branches all over the country as the reset to cash continues against people’s wishes. Older customers will struggle to get to branches and many do not use, or want to use, complicated online banking systems.

Many old bank branch buildings, such as this on in Loughton, Essex, are huge with much of the space no longer required and can easily be converted into flats, shops, restaurants or other mixed usage.

Mortgage rates have also jumped in the last year adding significantly to the cost of buying a home. For instance, a 2% increase on a £200,000 mortgage will cost borrowers an additional £4000 per annum or £333pm. On a £250,000 loan, the extra cost is £5000 a year or £416pm.

Most lenders will take this additional burden into account when working out the affordability test and adjust the borrowing level downwards. In other words, the borrow must put down a higher deposit or pay less for a property.

Walmart issues profit warning as ordinary people in America struggle with cost-of-living crisis.

IMF calls on central banks to raise interest rates further – this will drive the world into a recession.

The IMF cut the UK growth rate forecast, but is known to get that wrong!

Property transactions slow dramatically according to official figures.

HMRC Headline Figures

The latest transactions data:

·        the provisional non-seasonally adjusted estimate of UK residential transactions in June 2022 is 96,290, 55.1% lower than June 2021 and 3.1% lower than May 2022

·        the provisional non-seasonally adjusted estimate of UK non-residential transactions in June 2022 is 8,850, 24.3% lower than June 2021 and 9.5% lower than May 2022

·        the provisional seasonally adjusted estimate of UK residential transactions in June 2022 is 95,420, 54.3% lower than June 2021 and 7.9% lower than May 2022

·        the provisional seasonally adjusted estimate of UK non-residential transactions in June 2022 is 9,110, 21.9% lower than June 2021 and 11.6% lower than May 2022

A slowdown in the property market means more opportunities for buyers and investor!

You can learn the secrets of professional property investors who have built huge portfolios with other people’s money.

FREE TRAINING – BEGINNERS PROPERTY SECRETS

This Beginner Property Investing Secrets free training webinar is designed by the industry’s top investing trainers to bring you valuable content; providing you with the tools to successfully invest in buy-to-let properties, raise finance and build a mighty portfolio from the ground up.

Live training TONIGHT 27 July 2022 at 7pm UK time.

CLICK TO JOIN THE LIVE ONLINE EVENT

https://bit.ly/3DlSlCL

 

#property #freetraining #propertysecrets #money #banks #savemoney #buytoletinvestor #propertyinvestor

No deposit 100% mortgages and 10 X income borrowing are back

No deposit 100% mortgages and 10 X income borrowing are back

 

Prior to the 2008 financial crash lenders were routinely giving out 100% and even 125% mortgages, self-certification mortgages with no income checks and up to 10 times income multiples.

 

This all changed after 2008 when several lenders went bust and the government had to bail out High Street banks in the UK such as Lloyds and RBS, which owned NatWest.

 

But it was not 100% or even self-certification mortgages that got lenders into trouble. Lenders such as northern rock decided to expand into commercial lending which was outside of their experience and comfort zone.

 

Subprime lending, or giving mortgages to people with poor credit history, previous arrears and even bankruptcy, also cause massive problems for American investment banks who sold derivatives of these products as triple AAA security. 

 

The vast majority of the actual loans were still being paid in the UK.

 

Lenders also branched out into buying up estate agencies and other businesses which was a big mistake since they paid far too much for these businesses.

 

But could we be witnessing a return to more adventurous lending?

 

Well, that remains to be seen. There has been talk of new lenders, like Propertunity, coming into the market offering 100% no deposit mortgages, but so far they have not launched any product on the market.

 

Check out: https://www.proportunity.com/blog/zero-deposit-mortgage

 

We also need to find out more details about the loan terms and the interest rates.

 

It appears to be some kind of 90% initial loan with a top up loan, similar to a help to buy loan that was offered by the government.

 

What we don’t know is whether this loan is just an interest only loan or involves a share of the equity in the property.

 

There are also schemes out there offering 10 times income and minimal credit checks, but these appear to be rent-to-own schemes rather than traditional mortgages.

 

As always, take legal independent financial advice before entering into any credit agreement

 

Inflation rises to 9.4%, the ninth monthly rise in a row.

 

Inflation will peak at 11% in the autumn say the Bank of England, which is inside an imminent 0.5% interest rate rise.

 

The ECB have just hiked interest rates for the first time in over a decade.

 

Public sector workers are threatening strikes, with unions complaining that a 5% pay rise will not keep pace with rising costs.

 

Overall, figures show that pay is falling behind the cost of living making the average person poorer.

 

Mortgages rates have gone up by around 300%.

 

Whilst most people are on fixed rates, those rates will eventually expire. 

 

The problem for borrowers at the lower income scale is that they may not qualify for certain rates due to affordability tests.  

 

I wish I could give a less gloomy outlook on the economy, but it is not looking too rosy at the moment.

 

When the country in recession or downturn property prices fall. However, I have seen high inflationary times when properties went up in line with inflation. Right now property is rising faster than the official inflation rate (13% annually), but how long can this continue in the current financial squeeze? 

See previous episodes: 

4 tips to save money in property letting and development - https://youtu.be/CM22xqmh3Pg

Big changes in private rented sector, leaseholds & property ads - https://youtu.be/SeOA_zMqaIY

Get cheaper property and higher yields up north

Obtain up to 14% yield on UK buy-to-let property.

Auction Property Bargains From Open House South Herts

·        2 Bed House - £36,000

·        4 Bed Buy-to-Let Rented House £59,000

More property deals at: https://www.facebook.com/estateagentswatfordelstreeandborehamwood

#economy #propertybargains #auctionproperty #money #buytolet #rentalproperty #buytolet #investing #property #houseprices #nodepositmortgage #100%mortgage

Inflation climbs to 9.4%, the ninth monthly rise in a row as Tesla dumps...

Inflation climbs to 9.4%, the ninth monthly rise in a row as Tesla dumps Bitcoin

Inflation hits 9.4% and will peak at 11% in the autumn say the Bank of England, which has hinted at an imminent 0.5% interest rate rise.

The ECB have just increased interest rates by 0.5% to zero for the first time in over a decade. Rates have been negative since 2014.

Public sector workers are threatening strikes, with unions complaining that a 5% pay rise will not keep pace with rising costs.

Overall, figures show that pay is falling behind the cost of living making the average person poorer.

Mortgages rates have gone up by around 300%.

Whilst most people are on fixed rates, those rates will eventually expire. 

The problem for borrowers at the lower income scale is that they may not qualify for certain rates due to affordability tests.  

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

Who will be the next UK PM?

I wish I could give a less gloomy outlook on the economy but it is not looking too rosy at the moment.

One possible bright light on the horizon is the change of leadership and government in the UK following the forced resignation of Boris Johnson.

The final two candidates for the prime minister job are former Chancellor Rishi Sunak and Foreign Secretary Liz Truss. 

Liz Truss is currently ahead in the polls and id she becomes the new prime minister she will cut taxes, increase spending and take measures to encourage economic growth. 

Whilst this will mean deferring the UK’s £2 trillion debt reduction, it will provide a much needed boost to the economy and create more tax revenue.

I believe the UK is due for a shift in economic policy and that Liz Truss is the right person to lead the country. 

Tesla dumps Bitcoin

Tesla has now sold off most of its holdings of the cryptocurrency.

The firm has dumped 75% of its Bitcoin, which was worth about $2bn (£1.7bn) at the end of 2021.

It is backing away as the value of the cryptocurrency has plunged, falling by more than 50% this year.

Tesla said it bought traditional currency with the $936m (£782m) from its Bitcoin sales.

Tesla boss Elon Musk has been among the most high profile champions of cryptocurrency, with his pronouncements on social media often driving significant trading activity.

Tesla's $1.5bn investment in Bitcoin, revealed in February 2021, prompted a surge of demand in the currency. The price of the notoriously volatile cryptocurrency soared last year to almost $70,000 in November before crashing.

One Bitcoin trades for less than $25,000.

Musk previously said he would not sell any crypto, but now needs cash. Tesla shares have plunged almost 40% this year.

Learn how to create wealth and buy and control property using other people’s money!

Claim your free Wealth Accelerator Discovery Call with me:

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

#free #economy #wealth #money #property #cryptocurrency #tesla #elonmusk #bitcoin #inflation #interestrates #liztruss #borisjohnson #rishisunak #makemoney #bankofengland #ecbinterestrates #freewealthcoachingcall #coaching #mortgagerates

4 tips to save money in property letting and development

4 tips to save money in property letting and development

 

1.      Get a good property tax accountant and save a fortune

 

2.      Join discount purchasing clubs such as LNPG - https://www.lnpg.co.uk/

 

3.      Networking

 

4.      Shop around for lower cost management and letting fees

 

China’s economy contracts 2.5% while UK grew .5% last month

 

Where are property prices going?

 

Get cheaper property and higher yields up north

 

Obtain up to 14% yield on UK buy-to-let property.

 

Auction Property Bargains From Open House South Herts

2 Bed House - £36,000

4 Bed Buy-to-Let Rented House £59,000

https://www.facebook.com/estateagentswatfordelstreeandborehamwood

#economy #china #money #borisjohnson #rentalproperty #buytolet #investing #property #houseprices #mickjagger #rollingstones #chrisblackwell #rishisunak #srilanka #bobmarley #U2

 

 

UK economy grew by 0.5% in May Surprising Economists

UK economy grew by 0.5% in May Surprising Economists

 

UK economy rebounded in my growing by 5% going to ONS figures.

 

Most areas of the economy expanded including construction, travel and manufacturing.

 

But business leaders are still concerned about the rising cost of raw materials, as well as fuel and gas. Inflation is set to hit 11% and is soaring around the world. 

 

US inflation has hit 9.1% prompting fears of another interest rate rise by the Fed this summer.

 

The Conservative Party is voting to elect a new leader following the resignation of Boris Johnson.

 

Most of the candidates promise to increase spending and cut tax. However, the bookies favourite for the next PM, former Chancellor Rishi Sunak, has urged more caution in order to pay off the deficit and reduce inflation. Rishi Sunak increased corporation tax, which is the tax on business profits.

 

Tax cuts needed to keep us from falling into recession, stimulate growth and long-term prosperity.

 

The new government and Chancellor must slash corporation tax to 15% to encourage more inward investment into the UK. 

 

Most leaders want to cut bureaucracy and the size of government, but this seldom happens. There are now more civil servants in the world in 2016 and the state is still growing. 

 

Half the working population in the UK is directly or indirectly employed by the government, which means they are funded by taxpayers and companies paying corporation tax.  

 

More signs of cracks in China’s economy?

 

The BBC reports that authorities in China's Henan province will start releasing money to customers who have had their funds frozen by several rural banks.

The announcement came just a day after a rare protest in Henan's capital, Zhengzhou, turned violent.

The four banks that were the focus of the protests are believed to have frozen a total of 39bn yuan ($5.8bn; £4.9bn) of deposits.

One of China’s many debtor nations, Sri Lanka, is broke and has falling into chaos as the government falls and people queue for fuel and gas tanks. 

 

I recently heard an Interview with Chris Blackwell of Island records, regarded as one of most influential record executives of all time.

 

Chris helped launched the careers of the likes of Bob Marley, Roxy Music, Free and U2.

 

When asked how he knew that reggae and ska music would become so big Chris replied that he wasn’t thinking along those lines at all. All he was trying to do was make a good record and help people build a career in music.

 

Interesting how he wanted to give, not get, and is now worth $300 million!

 

Mick Jagger and the Rolling Stones are not only a great band, they also know how to run their business empire making the extremely wealthy.

 

·        Ronnie Wood – US$200 million.

·        Charlie Watts – US$250 million.

·        Keith Richards – US$500 million.

·        Mick Jagger – US$500 million.

The Rolling Stones did a concert tour to celebrate and increase the group's fortune, which is estimated by FOXBusiness at $1.45 billion.

Rolling Stones are celebrating 60 years in the business and have been one of most successful end enduring rock bands of all time

 

For the first decade of the band Mick Jagger said he left the business side of things to managers, which was a mistake. They ended up in financial trouble having not paid the correct amount of tax.

 

The band made a decision to move out of the UK, which at the time had a tax rate up to 98%, to avoid going broke. Lack of attention to tax is a common cause of music and film stars going bankrupt, as I cover in my book Yes, Money Can Buy You Happiness.

 

Mick then took over the business side of running the group and has never looked back.

 

Mick is a very astute businessman and likes to keep control of every aspect of the banned from putting the show together to making sure they minimise their tax bill.  

 

I once had a ticket to a concert of theirs which was cancelled because it would’ve meant them paying too much UK tax.

 

It is also known that Mick’s house in Richmond was held in an offshore company.

 

Earn more than you spend and invest to grow your own ‘u’conomy’. Saving alone will not save you from a bleak retirement.

 

Obtain up to 14% yield on UK buy-to-let property.

 

Auction Property Bargains From Open House South Herts

2 Bed House - £36,000

4 Bed Buy-to-Let Rented House £59,000

https://www.facebook.com/estateagentswatfordelstreeandborehamwood

#economy #china #money #borisjohnson #rentalproperty #buytolet #investing #property #houseprices #mickjagger #rollingstones #chrisblackwell #rishisunak #srilanka #bobmarley #U2

 

Big changes for private rented sector, leasehold, property ads, as UK pr...

Big changes for the private rented sector, leaseholds and property adverts, as UK prices continue to rise

In this episode of UK Property Talk:

UK property prices still rising despite global economic slowdown.

Rightmove, the online property listing portal, confirms its compliance with new listing guidelines to include more information on each property.

Rightmove portal details for properties will include:-

·        Cost of any service charge and ground rent.

·        Details of any shared ownership arrangement.

·        Sale price - no longer “POA”.

·        Other changes that affect sales and lettings, including council tax bands.

·        Any information missing from a listing will be highlighted and potential buyers will be redirected to the agent.

·        Rightmove has also introduced new ‘tool tips’ and a glossary of terms.

Other Updates

·        New Rules on unfair Leases and Ground rents

·        Boris announces plans to sell off Housing Association properties.

·        Lifelong mortgages.

UK government’s ‘levelling up’ measures will involve letting agents directly include a national landlord register, a 'decent homes standard' and abolishing Section 21.

By 2030, more renters will have a secure path to ownership with the number of first-time buyers increasing in all areas; and the government’s ambition is for the number of non-decent rented homes to have fallen by 50%, with the biggest improvements in the lowest-performing areas.

UK House Prices Continue To Rise Despite Global Economic Slowdown

House prices hit a new high in June despite the rising cost of living in the UK would slow demand.

Average house price reached £294,845 in June after rising by 1.8% - the steepest monthly increase since 2007.

Halifax sighted a “lack of available homes” for sale was lifting prices as well as a shift towards people buying larger, detached homes, which rose by over 13% in the last year.

But it expects price growth will slow, as interest rates rise and soaring prices hits people’s pocket harder this year.

Petrol remains high and average household energy bills are set to exceed £3000 this year – a rise of nearly 300%!

Interest rates will rise again says Bank of England Chief Economist, as inflation is expected to reach 11% this year.

The Bank of England warned of more interest rate rises as it vows to bring inflation back down to 2% - roughly 5 times lower than present level.

Boris Johnson ousted as leader by his own party, but does it matter to you?

After Chancellor Rishi Sunak walked out of his job this week, his replacement Nadhim Zahawi has said he and Prime Minister Boris Johnson want to "rebuild the economy" and get soaring inflation under control.

We could see a new approach, as Mr Zahawi said "nothing is off the table" in terms of cutting taxes and boosting economic growth.

Auction Property Bargains From Open House South Herts

2 Bed House - £36,000

4 Bed Buy-to-Let Rented House £59,000

https://www.facebook.com/estateagentswatfordelstreeandborehamwood

 

#rightmove #leasehold #propertyprices #money #estateagent #borisjohnson #economy #rentalproperty #buytolet #investing #property #houseprices

UK House Prices Continue To Rise Despite Global Economic Slowdown

UK House Prices Continue To Rise Despite Global Economic Slowdown

House prices hit a new high in June, according to Halifax, despite expectations the rising cost of living in the UK would slow demand.

The UK’s biggest mortgage lender said the average house price reached £294,845 in June after rising by 1.8% - the steepest monthly increase since 2007.

Halifax sighted a “lack of available homes” for sale was lifting prices as well as a shift towards people buying larger, detached homes, which rose by over 13% in the last year.

But it expects price growth will slow, as interest rates rise and soaring prices hits people’s pocket harder this year.

Petrol remains high and average household energy bills are set to exceed £3000 this year – a rise of nearly 300%!

Northern Ireland saw the largest rise in house prices, with an increase of 15.2% in the year to June to take the average to £187,833. Wales also recorded sharp growth of 14.3% to £219,281.

The average house price in Scotland also hit a new record, rising 9.9% over the year to £201,549, "breaking through £200,000 for the first time in history" said Halifax.

Interest rates will rise again says Bank of England Chief Economist, as inflation is expected to reach 11% this year.

The Bank of England has warned of more interest rate rises as it vows to bring inflation back down to 2% - roughly 5 times lower than present level.

The central bank's focus was getting prices down and making life more affordable again, its chief economist Huw Pill said in a speech on Wednesday.

The weaker pound is making imports more expensive.

Boris Johnson ousted as leader by his own party, but does it matter to you?

After Chancellor Rishi Sunak walked out of his job this week, his replacement Nadhim Zahawi has said he and Prime Minister Boris Johnson want to "rebuild the economy" and get soaring inflation under control.

We could see a new approach, as Mr Zahawi said "nothing is off the table" in terms of cutting taxes and boosting economic growth.

There is a raft of legislation going through parliament including plans to ‘level up’ and improve property and tenant rights.

I will discuss this in more detail on this in my UK Property Talk show 10am Saturday morning.

Join me on UK Property Talk to discuss this and other property matters this Saturday at 10 am.

Click here to register for UK Property Talk - https://bit.ly/3sjxRa1

You will be sent a link to join this exclusive live event.

Pensions Scandal – hundreds of thousands of women underpaid by DWP

More people - mostly women - have been underpaid their state pension than previously thought, latest government figures show.

A new estimate suggests 237,000 state pensioners were paid less than their entitlement, with a total of nearly £1.5bn underpaid.

That is 105,000 more people affected than the Department for Work and Pensions (DWP) calculated a year ago.

They include widows and divorcees who could have been underpaid for years.

Learn how to create wealth and buy and control property using other people’s money!

Claim your free Wealth Accelerator Discovery Call with me:

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

#stockmarket #pension #propertyprices #money #wealth #borisjohnson #economy #rishisunak #investing #property #houseprices

AIRBNB Holiday Home Backlash Threatens Serviced Accommodation Market - U...

UK Property Talk Holiday Home Backlash Threatens AIRBNB Market

As the number of holiday let properties have increased by 40% in costal regions such as Norfolk, Devon and Cornwall, some English councils are proposing a ban, the BBC reports.

Some tourist areas have become so saturated with AIRBNB holiday lets that locals are being squeezed out and can no longer afford to rent or buy in the area.

A resident in Scarborough complained that almost every house in her street was a holiday let and no longer occupied by local residents.

A councillor in Brighton said there are 3,500 AIRBNB properties advertised in the popular beach town and wants a planning ban on holiday lets and second homes.

The holiday let or serviced accommodation (SA) strategy has exploded in recent years with many courses on offer to teach landlords how to increase returns on their investment and avoid tax and rule changes imposed on standard ‘buy-to-let’ property.

There is no doubt that you can increase your rental income by using the SA strategy correctly.

4 things to consider before you consider SA or holiday lets as a strategy:

1.      Training

2.      Lender

3.      HMRC

4.      Insurance

Free Beginners Property Secrets Training:

https://bit.ly/3NQxm0p

US Stocks Record Worst First-Half Fall In 50 Years

US Stocks Record Worst First-Half Fall In 50 Years

Global stocks down amid war and recession fears, while household incomes are falling.

US stock markets have suffered the sharpest first-half slump in 50 years, with the S&P 500 down by 20.6% and the tech-heavy NASDAQ tumbling 30% in the last six months.

London and Wall Street shares were down again this week as markets react to fears of a global downturn.

On Thursday the FTSE was down nearly 2% and the NASDAQ was down 3.65% after recovering slightly from previous sell-offs.

Why the markets matter to you?

·        Taxes

·        Investment

·        Jobs

·        Pensions and Savings

·        Confidence

The market correction means billions has been wiped off the value of quoted companies, mutual funds, unit trusts and pension funds.

Chaos in Sri Lanka…does it matter?

How can you protect your savings?

5 things you need to know about money

1.      How to earn more money

2.      How to manage money

3.      How to invest money

4.      How to protect money

5.      How to borrow money and use debt

You are losing money on your bank savings!

Learn how to create wealth and buy and control property using other people’s money!

Claim your free Wealth Accelerator Discovery Call with me:

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

#stockmarket #pension #ISA #money #earnmoney #jobs #investing #property #tax