The Property Den with Ken & Glen
Episode 33
Current market update
We discuss the recent decision from the Bank of England MPC.
We also chat about the study commissioned by the Coventry
Building Society, that showed that stamp duty on an average priced property in London is 356 times higher than a similar property in the East Midlands.
Have you heard the rumors that have started circulating that stamp duty changes are on the horizon, with announcements speculated to be made during the Autumn statement.
We explore the knock-on effects on new builds as the market
for New builds has slowed down which in turn is having a Domino effect on all sectors such as the builders / trades the furniture companies the carpets etc
We review some ideas we thought may help get the mortgage market turning again.
According to Knowledge bank the most popular mortgage criteria searches reflect economic uncertainty:
In the September criteria index, the residential sector continued to feature ‘maximum age at end of term’ as the most searched term.
The search term ‘Joint Borrower, Sole Proprietor’ saw a surge in the residential sector over the past three months, indicating that brokers were looking for creative solutions to handle mortgage affordability.
We delve into a recent Tik Tok post From Glen asking the
question “Why are landlords hated”?
Then it straight into some Q&A.
I want to buy a house but I’m frightened in case I can’t keep up the payments if I lost my job? Is this a common worry?
Can I get a stamp duty refund if I have sold my house?
My broker has just told me that my mortgage is going from £700 to £1200 per month is there anything I can do to reduce this
cost down? I budgeted for an increase to £900 but this is taking the biscuit.
We are looking at buying a flat but its above a shop, we have been told this can be difficult but why?
Then its time to wrap up this week’s episode, do give a 5
star review and like and follow and most importantly share the Podcast.
So for now its Goodbye from Ken and its Goodbye from Glen.
Goodbye!!
