Ken, a CeMap qualified mortgage adviser, discusses the rising Bank of England base rate and how it's affecting the UK mortgage and housing market. We look at examples of current mortgage interest rates at various loan-to-values (LTVs) and discuss how they have changed since the end of last year. Ken discusses the conundrum facing home buyers that plan to use 95% mortgages, and considers whether homeowners should be securing 5-year fixed deals instead of the typical 2-year fixed. We discuss whether mortgage approval rates are falling and what's happening to the UK housing market as interest rates rise. Ken gives advice on how to reduce monthly cost when remortgaging and what not to cut back on as inflation rises. Lastly, we talk about Boris Johnson's 'Benefits to Bricks' announcement and the planned extension of the Right to Buy scheme to housing association tenants.
CONTACT DETAILS
Ken Brooke's contact details
t: 020 8460 6688
e: kenneth.brooke@justmortgages.co.uk
Lemuel Self Invested
Email: lemuelstudios@gmail.com
Instagram: @SelfInvested_UK
Twitter: @InvestedSelf
LINKS MENTIONED/USED
Nationwide's Helping Hand mortgage - • First-time buyer mortg...
Right to Buy scheme explained - • Right to Buy your coun...
Chat with Ken about Help to Buy and Shared Ownership - • Talk with a mortgage a...
OTHER PLAYLISTS
My Shared Ownership Experience (series) - • My Shared Ownership ex...
Shared Ownership - • Shared Ownership: help...
Help to Buy Equity Loan - • Help to Buy Equity Loa...
CHAPTERS
Intro 00:00
Rising interest rates 03:13
How does the base rate affect mortgage rates 04:55
What's currently happening in mortgage market? 06:54
Mortgage rate examples 09:28
Mortgage approval rates 13:22
UK House prices 14:51
Reducing monthly costs 16:42
Benefits to Bricks and Right to Buy 21:36
Outro 27:46
ABOUT ME
I'm Lemuel. I'm not a financial advisor. I'm not an expert. I'm just a regular guy that enjoys talking about how we can do better with money.
If you want to learn more about how you can do better with money, then subscribe to the channel and hit the notification bell so you get an alert whenever I upload a video.
DISCLAIMER
This video is not meant to address the specific circumstances of any particular individual. It is created for educational purposes only. You should not rely upon it as legal, financial or professional advice, or a substitute for it. I do not accept any liability whatsoever for errors, omissions or misstatements contained therein. You should consult a suitably qualified professional if you require specific advice or information.
Негізгі бет Mortgage market update with Ken Brooke | June 2022 | Interest rate raised to 1.25%
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