Did you manage to fix in a good rate? Does your fixed rate end soon?
@art_means_artificial
Жыл бұрын
the most stupid CONCLUSION I have ever heard! yes or no!??? FFS!
@Nurofaen
Жыл бұрын
@@art_means_artificial He's not a psychic. He is here to give you advice, information and lead you to make your own decision based on that.
@mjj2072
Жыл бұрын
And yes I know he is not psychic I was just asking advice I wasn’t sure whether to come out early I’ve never done this before it makes me a little nervous as on my own and don’t know who to ask
@TheRealAnthony_real
Жыл бұрын
5 years fixed 1.30 December 2021 ;)
@Ethan_Nathan_
Жыл бұрын
i got my mortgage fixed till july 2026 at 1.44% hope it will come down at that time.
@tombarlow93
Жыл бұрын
I’ve just got a mortgage last week of 4.88% as a first time buyer, 15% down, 5 year fixed on a 250k property. If anyone needed this info🙂. (With halifax)
@jimbob6290
Жыл бұрын
My fixed rate of 2.34% will end in sept this year. I could get one locked in without having to pay early repayment fee from april but not sure if i should wait or bite the bullet. The headache is real 😬
@Ugi5
Жыл бұрын
The House Price index figure of 974% might appear high (is this figure adjusted for inflation ?), but if you compare it to more profitable investments such as stocks, the housing index rate is nearly 2.7 times lower than s/p 500 returns over the last 40 yrs which increased by 8,433.22%, adjusting for inflation 2,717.36%.
@NotoriousPyro
Жыл бұрын
I got fixed 5 years in Nov 2021 at 2.99%. I hope I can get similar rate when it expires.
@rdtheskald
Жыл бұрын
The us increased rates to almost 5% to battle inflation, Uk just expects it to come down cause why wouldn't it?
@sultansalim6458
Жыл бұрын
Current fix rates are higher then the variable rate, given the banks are competing for business, wouldn’t you stick with variable as long as it’s lower then a fix rate? The Bank of England will increase the base rate but also expect on projected reduction of base rate late this year or early 2024, with this inflation is also expected to half as per rishi promise, so would you agree that the fix rates will also fall?
@PrinceJohn84
Жыл бұрын
Managed to squeeze in a fixed 5 year rate at 3.4%, just days before the mini budget car crash.
@xg_zack
Жыл бұрын
please add graphics this is too much for a youtube video
@teaformulamaths
Жыл бұрын
Basically, noone knows the future still 😅
@michaelkidd7123
Жыл бұрын
Does anyone know if the Bank of England was going to increase their base rate this year anyway, or did they only have to do it as a result of Truss' policies in late 2022?
@MattBrighton
Жыл бұрын
Not 100% sure but would be easy to find in the August / Sept BOE monetary committee notes
@kealls575
Жыл бұрын
4.5% by March
@charismaticmzk
Жыл бұрын
Nothing to do with Truss, rates had to rise to combat inflation
@Aylaun84
Жыл бұрын
My 1.5 fixed ends this December. Hoping it goes down a few percent by then.
@eddyjawed4871
Жыл бұрын
Not sure how telling people to move into smaller cheaper houses after they paid off a load of stamp duty on their larger one, to then go and pay more STLD, solicitor/agent fees is somehow worthwhile advice. Even if they are stuck in such a predicament they cannot afford price increase of interest surely they would pay less then all the money lost in the home move process? lol
@artsemkandra
Жыл бұрын
Hi Matt, many thanks for the informative video. As a first time buyer in London, would you say that its more astute to wait for the house prices to continue correcting during the course of this year, as well as interest rates (albeit small)? I'm not so much concerned about the rates as I believe the era of cheap money is over, but I'm concerned about how expensive house prices still are. Any feedback appreciated. Cheers.
@govpanessar2131
Жыл бұрын
Just today I have been quoted a best option of 5.99% buy to let mortgage whichL will.mean I have to pay £148 every month as that's the amount over the rental income. 2 year fixed that's for.
@fortunecat8
Жыл бұрын
Think there are cheaper deals for BTL
@BobMc87
Жыл бұрын
My fixed rate deal end in September 2024, should be a decent LTV by then, and I could dump money into it to help.... not looking forward to it!
@aceofspades5786
Жыл бұрын
Great explanation. When i was broking in 1990, people where queuing for 13.4% 2 yr fix with nat west, three years later Bristol and West offering 9.99% 5 year fixed. People grumbling now about paying 6%, it will come down, just have to wait.
@evalon9129
Жыл бұрын
Well-the house prices were much lower in 1990 than now !
@scitec717
Жыл бұрын
Yeah way lower and 3x the wage back then not 7x
@C63Bez
Жыл бұрын
If you look back at the base rate over time it’s actually quite low compared to anything 2009 and before
@aceofspades5786
Жыл бұрын
@@scitec717 agreed, way lower, more like 3.5-3.75X then, and more like 9X now.
@masitraproductions977
Жыл бұрын
Grumbling? My mortgage is going to nearly double, along with my energy bills. Add that on top of the cost of living/static wages and you’ve got yourself a rather large situation
@Witnessmoo
Жыл бұрын
Inflation may not come down…
@MattBrighton
Жыл бұрын
Problem with inflation, it will come down, but prices still remain high even at 0% inflation - it basically stays stuck at the new high prices
@BoxBreakersTV20
Жыл бұрын
Matt are you related with Ryan Eggold the doctor from New Amsterdam?😀
@georgesabri2350
Жыл бұрын
Really enjoy the videos, but Andrew looks hella high 😂
@srlfc90
Жыл бұрын
This video should have come out end of feb and see the outcome from the government
@Toni-zm3rh
Жыл бұрын
Matt’s listening nod is hilarious
@MattBrighton
Жыл бұрын
That's hollywood for you.
@seanriordan6726
Жыл бұрын
First time buyer with 10% deposit. Just fixed for 5 years at 4.9%. Which compared to just a few months ago is loads better. The short term deals were around the 5.3% mark so over the medium term banks are expecting a drop. I think as someone in a position to buy the higher rates actually made it easier to get a deal over the line so I feel like I can’t grumble too much.
@CallumDixon22169
Жыл бұрын
Same here, we were looking at 6%+ not too long ago. Down to 4.7% with 15% deposit. Hoping that in future they’ll go back to 2-3% and we’ll be onto a bargain
@Bertuzz84
Жыл бұрын
I absolutely don't get why people would do a 5 years fixed and a down payment. I got a 30 year fixed with no down payment at 3%. I keep that down payment money in the bank to make sure that i can pay my mortgage for a few years. The bank can't touch me as long as i make the payments. So having your mortgage under water is no risk. Everyone here in the Netherlands that i know has 30 years fixed mortgages. People would think your mad for taking a mortgage under 20 years fixed.
@richardwillson101
Жыл бұрын
@Bertuzz84 because here in the UK you cannot get a mortgage with 0 equity and no down-payment. You usually HAVE to pay a 10-15% down-payment... which is why its so hard for first time buyers looking to buy a £250,000 house for example. Also, until about two years ago, it was almost impossible to find a fixed mortgage that was longer than 8 years. The average fixed mortgage is 5-10 years. Our mortgage lengths might be 25-30 years, but only the first few years is fixed.
@Bertuzz84
Жыл бұрын
@@richardwillson101 Oh i see, in that case its normal to have a 5 years fixed rate. It would seem like a huge hassle to me, and i would regularly check interest rates. If they would have required a 10-15% down-payment than i wouldn't have been able to buy my house at the time. And by the time that i had the cash i would have been priced out of the market lol. I just looked up the average house price in the UK. Your average house is only 337K Euros, compared to our 423K Euros. And your groceries cost like half. You guys have such a LCOL country.
@jonp6798
Жыл бұрын
Before I watch the video. Go tracker with the option to fix if possible. Longer term as the fees outweigh the difference. Will edit after the video. Edit: my opinion hasn’t changed. In fact surely if you’re on SVR at over 6% it makes more sense to switch to a discount tracker at high 3% to low 4% rather than sitting on an offer incurring those SVR costs like your broker suggested. If it’s got the option to fix later even better when you’re happy. It’s a way of taking on the risk which is built into a fix yourself instead of the bank thus reducing the rate. The only reason I can think that you wouldn’t do this is if you think rates are going to rise higher than the current fix long term and you want the certainty. I don’t hold that opinion.
@teaformulamaths
Жыл бұрын
5% of annual household income? Is it 5 times or is this a new metric?
@MattBrighton
Жыл бұрын
5 x, not % - Correction is in the video, was a voiceover fluff by me :)
@cryptoassetcai
Жыл бұрын
Inflation has peaked. Once inflation comes down to 2/4% rates will come down. May take awhile.
@fontane007
Жыл бұрын
2%-4%? Yeah don’t hold your breath
@AldrichMascarenhas
Жыл бұрын
2-4% I'll eat my sock if that happens
@bertbox69
Жыл бұрын
Just watched your excellent informative vid. We are currently remortgaging and managed to get a fixed rate at 4.04% with Halifax, up from our previous 2.25% for two years. I know it's not brilliant but as we are in our 50's with only one wage earner, we locked it in for 10 years of a 13 yr remaining mortgage. We just felt at our time of life we didn't want to be chasing best deals every 2-5 years.
@fortunecat8
Жыл бұрын
4.04 fixed for 10 year seems to be best fixed deal available now.
@teaformulamaths
Жыл бұрын
That's amazing, where?!
@bertbox69
Жыл бұрын
@Tea Formula, With Halifax, but the application was locked in before Christmas, not sure if it's available now
@teaformulamaths
Жыл бұрын
@@bertbox69 I wasn't getting that before Christmas
@bertbox69
Жыл бұрын
@Tea Formula, that's from remortgaging,not as first time buyer or anything.
@jacklyndrfhcr
Жыл бұрын
I’m lucky I have a fixed mortgage rate at 1.49% which doesn’t expire until August 2026
@nadk8886
Жыл бұрын
When did you renew it?
@tazpoochie
Жыл бұрын
Smarty pants
@Saltytoxico
Жыл бұрын
Imagine not fixing your mortgage for 3,5,10 years when it was 1.1-1.5% 🤔
@psymon25
Жыл бұрын
Well done you for sharing your smug comment
@Saltytoxico
Жыл бұрын
@@psymon25 would be if I wasn’t moving house 😭
@Bloody_alchemy
Жыл бұрын
How do you see the market for property investors and which strategy do you think is today's most viable ?
@MattBrighton
Жыл бұрын
Hard right now (I've had to put it on hold this year to assess how I'll fund my next investment project). If you're new then I think it's a matter of finding a nice property to renovate and then holding onto it for the duration of a fixed term, but understanding prices could fall, a flip is hard because it's trickier to sell at the moment for the price you'd want which would hinder profit margins. So it's a matter of finding lower risk strategies to weather the storm and reduce your risk exposure.
@kierrenere
Жыл бұрын
My 1.6% fixed is due in 36days 😢 how depressing its going up.
@millzdieta
Жыл бұрын
Mortgage broker touting for business surprise surprise
@bl8612
Жыл бұрын
On a fixed 1.8% rate for 5 years till 2027 😁
@anthonycraig274
Жыл бұрын
My deal ends Feb 2024 @ 1.1% I don’t mind since it’s 260K and the rent gain is 2.2K. If it goes up, I will pay most of it off, if it goes down, I get a new deal.
@RajNUK
Жыл бұрын
Great analysis Sir ❤
@Bertuzz84
Жыл бұрын
Why do people take out such short term fixed rate mortgages? I myself and everyone that i know has 30 years fixed mortgages. Mine is 3%, doesnt seem worth it to have taken out a variable to get a lower rate during the last few years. The money that i would have saved is absolutely not worth the stress of that rate going to 10%. The current rate is a wopping 4.5-5%. That would suck ass to see my mortgage payment go up.
@KAISERDJG
Жыл бұрын
low lending has done one thing... driven up house values. once the fairytale ends we should see 400k houses drop to 250-300k where they should be... the houses are way way overpriced because of all the cheap lending.
@brendagomez1933
Жыл бұрын
Hi, Matt thanks for your video, would you recommend a share ownership with 55% now and a mortgage fixed rate of 5.54%? Do you think is a good idea, I'm thinking in buy a 2 bedrooms flat.
@MattBrighton
Жыл бұрын
If you can avoid Shared Ownership - then do. If it's unavoidable and necessary then fine. Wouldn't be able to comment on the fixed rate and whether it's any good for you. My TLDR is if you can afford it, happy with it and see yourself there for a few years then yes, make it a home and enjoy it. If you're stretching yourself, putting any risk on finances then no.
@brendagomez1933
Жыл бұрын
@@MattBrighton thank you Matt, I really appreciate your videos and I like them ❤️
@jordanrsturbo
Жыл бұрын
Fixed today for 5 years its extra £197 a month on top off £543 We fixed because we was worried I'm happy but it's a lot of money to find
@diegopinotti
Жыл бұрын
Was lucky to get a 5 year fixed term in December from 2019 at 2.85%. So its time to think about but might go for another 5 year fixed rate and this expires in December from 2024
@elementalrainbow
Жыл бұрын
Incorrect. Those that remortgaged beginning of 2022 were in a position to remortgage. The rest were locked in.
@AfroRU6246
Жыл бұрын
Is Andrew a Robot or human...he looks too well put together...handsome
@superpantman
Жыл бұрын
WOAH, who knew. A mortgage broker suggests getting a mortgage.
@oyi33
Жыл бұрын
Hi Matt. My girlfriend and I are looking to purchase a 1/2 bed flat/house in London over the next 6 months (400k value ish). We obviously don’t want the house to depreciate massively over the next 5 years. So, in your opinion, is it silly to buy now? Unless we can get a good deal by knocking a lot of the asking price? I think we’d be happy with a 4% interest rate over next couple years. We are worried we might be falling into a trap and the house might not be a good investment! Do you think London prices are likely to decrease quite a bit over next 6 months? Cheers
@oyi33
Жыл бұрын
@iewnfiwenf weqfwefw 100% agreed! Going to try and get a good deal. Hopefully knock 5-10% off asking.
@Drazorig2
Жыл бұрын
My remortgage is due in August, hoping it goes down closer to that time
@brucemendes7298
Жыл бұрын
Very helpful thank you
@daniel.wilkinson
Жыл бұрын
No one saw the rate rises coming, some people were just lucky and were coming to the end of their fixed mortgages at just the right time.
@kenzohkw
Жыл бұрын
some people just fall into luck with money, such is life
@tomezmaples
Жыл бұрын
Your mortgage advisor is clueless. He described the option of taking out a fixed now as a win win. Yes, for him and the banks.
@MattBrighton
Жыл бұрын
You've misunderstood a little bit here - You can get a fix today and lock in that rate but sit on an offer for around 6 months before drawing it down and in 6 months, if the rates go down, you can scrap the one you lock in now and get a cheaper fix (win), or if rates did go up for whatever reason, you've locked in a fix from now (win). Make sense?
@tomezmaples
Жыл бұрын
@@MattBrighton I apologise for calling him clueless, it was more of a poor choice of phrase, I understood the sentiment. Going from 1.5% to choices all over 5% won't feel like a win win even if it is the correct way forward.
@tomezmaples
Жыл бұрын
@MattBrighton. Why do you want me to send you a message?
@user936
Жыл бұрын
I'm slap bang on a September renewal 🙄 don't know if to pay the early fee and negotiate now or wait 4 months with no fee but possibly a higher rate 😐
@MrJungle123
Жыл бұрын
4 months? Between Jan and September?
@user936
Жыл бұрын
@@MrJungle123 in 4 months time I'll be 3-months from end of term at which point I can negotiate without paying the early fee
@fortunecat8
Жыл бұрын
I would think wait for 4 months as mortgage rates have been coming down. Obviously also depends on how much early payment charge you have to pay.. If its 1 percent, and if you pick 5 year product, that means you adds 0.2 percent to the rates now. So it makes sense only if you think mortgage rates would go up more than 0.2 percent in 4 months time
@andywhite1636
Жыл бұрын
Thanks for having me on matt, great content and fantastic over view, if any one needs support or review happy to help and support you all please feel free to email me
@MattBrighton
Жыл бұрын
Thanks for the interview Andy - some really interesting answers
@ryancoles1673
Жыл бұрын
You clearly don't know how the economy works as per your answers at 10 minutes
@art_means_artificial
Жыл бұрын
the most stupid CONCLUSION I have ever heard! yes or no!??? FFS!
@ThisandThat___
Жыл бұрын
Wasn't the entire theme of the video that there is no yes or no solution? Perhaps you should watch it again. With subtitles. And a native English speaker to translate for you?
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