Simon discusses the recent slashing of interest rates by major mortgage companies and its implications for property investors and homeowners. While the lower rates may be more beneficial for homeowners, property investors can also benefit from the decrease, although many of the low rates are only available for lower loan-to-value mortgages.
Simon highlights a hidden factor that most people are unaware of, which is the increase in arrangement fees by mortgage companies...
KEY TAKEAWAYS
BEST MOMENTS
"Many of the low rates that we're seeing below 4% are only available if you're getting a 50% or 60% loan-to-value mortgage."
"Some lenders are charging 5% and even 7% as arrangement fees. Now these are added to the loan."
"I think rates might go up again in the next couple of months. I'm doing refinances right now."
"I'm going to be buying a lot of property, and I think this is such a good time to buy."
"If you're following the five golden rules, particularly number two, three and four... then I think you're going to be okay if you're buying right now in 2024."
VALUABLE RESOURCES
To attend your first pin meeting as Simon's guest visit http://www.pinmeeting.co.uk/, find your local meeting, and at the bottom of the page where you normally pay £20, click on where is says "pay with a voucher code" and use this code: PODCAST. This will by pass the payment page and you can attend your first pin meeting for free.
Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi
Find out about the Global PIN Meetings at www.globalpinmeeting.com
To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20).
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Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.
Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.
Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.
Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.
Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.
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