High Street Lenders Reducing Rates and 1 BIG RED FLAG - with Marc Champ
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
Rob is joined once more by Mark Champ of Wharf Financial to discuss the current state of the property market, including the impact of the Bank of England base rate increase and the reduction of mortgage rates by some lenders. Mark shares that developers are cautious and looking to reduce land prices, while vendors are resistant. They also touch on the potential negative impact of global events, such as the situation in China, and the need for investors to be creative and take calculated risks.
KEY TAKEAWAYS
- Developers are becoming more cautious and looking to reduce the prices they pay for land, leading to a stalemate with vendors.
- Despite the potential for another Bank of England base rate increase, some lenders are actually reducing their mortgage rates to attract more business.
- The specialist market has seen stable rates, with only slight increases in bridging rates.
- There may be a shift of power economically on a global scale, with countries like Brazil, India, China, and South Africa coming together on a more unified page of beliefs and policies.
BEST MOMENTS
"I think there could be a shift of power economically on a global scale soon."
"I think initially negative because it would scare people, it would spook people."
"Be fearful when others are greedy and greedy when others are fearful."
"I think we're both saying it's opportunities. Whatever market you're in, you've just got to find them."
"We don't want to constantly come across as being negative when we do these things, but we have to be realistic."
VALUABLE RESOURCES
Wharf Financial - https://www.wharffinancial.co.uk
GET YOUR DEVELOPMENT FINANCE HERE:
https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration
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SOVEREIGN MAN 4th PILLAR https://dash.sovereignman.com/a/4pmain/tpnpodcast
ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
WHERE TO FIND US