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    ASK398: When will mortgages get better? PLUS: Limited Company or not?

    enSeptember 19, 2023

    Podcast Summary

    • Mortgage fees reaching record highsLenders charge high arrangement fees to keep product rates low and generate additional revenue, but signs indicate these reasons may no longer be necessary

      Mortgage situations are currently more challenging than ever before, with arrangement fees reaching record highs. Steve, a listener from Oxford, shared his concern about the potential impact of these high fees on his capital gains. Rob, the host of Ask Rob and Rob, empathized with Steve and explained that lenders charge these fees for two reasons: to keep product rates low and to generate additional revenue. However, there are signs that these reasons may no longer be necessary. With inflation coming down and rate changes on the horizon, Steve and others may see these fees decrease. In the meantime, those looking to secure a mortgage should be prepared for these fees and consider them as part of their overall borrowing costs. If you have any property-related questions, you can send them to propertyhub.net/ask.

    • Understanding current mortgage rate landscapeWork with a mortgage broker to consider all options and have a long-term perspective in a high-rate market. Rates and fees may not remain constant and rents are likely to increase.

      The current mortgage rate landscape is influenced by expectations of future interest rates, inflation, and competition among lenders. These factors can make it difficult for borrowers to secure the best deal, especially with high rates like 6.8%. However, having a long-term perspective and working with a mortgage broker to consider all options can help mitigate the impact of high fees and rates. The current market is unlikely to return to the low rates and fees of the past, so it's essential to make informed decisions and plan for the long term. Additionally, borrowers should be aware that their mortgage rate and fees may not remain constant over the life of their loan, and rents are likely to increase as well.

    • Navigating Property Investment in a Challenging EconomyEducate yourself thoroughly before investing in property, secure the best deal with a broker, and watch Rob and Rob's YouTube video for guidance on buying through a limited company.

      The current economic climate may present challenges for new investors, but the potential rewards for those who can weather the storm are significant. Rob and Rob advise working with a broker to secure the best deal and encourage listeners to educate themselves thoroughly before making a decision, such as by checking out their YouTube video on buying property in a limited company. Carmen's question about whether to buy in her own name or through a limited company is answered with a suggestion to watch the YouTube video for guidance and a list of questions to help make an informed decision. Ultimately, the key takeaway is the importance of gaining knowledge and being prepared before making a move in the property market.

    • Insights from Property Hub UK's YouTube channelDiscover the benefits of investing in property through a limited company by watching Property Hub UK's YouTube video 'Should you buy a property at a limited company?'

      Learning from this podcast episode is that if you're enjoying the discussion about property investment, you'll likely find value in Property Hub UK's YouTube channel. To access their videos, simply search for "Property Hub UK" and look for the video titled "Should you buy a property at a limited company?". Brucey Bonas, a reference to an outdated slang term, was used during the conversation but shouldn't detract from the valuable information shared. For those with specific questions, Property Hub also invites listeners to visit propertyhub.net/ask for answers. Tune in again on Thursday for the next property podcast episode. Overall, this podcast episode provides valuable insights into the benefits of investing in property through a limited company.

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