In this podcast episode we’ve been around a very interesting topic, I would say that is essentially an evergreen of the many property investment conversations.
We’ve caught up with Michael Lawlor, Mortgage Mike, to have an understanding of the current scenarios that are surrounding the property market in relation to mortgages and financing.
He is one of the 900+ Mortgage Advisers across the UK that are part of Mortgage Advice Bureau, the leading mortgage network as well as the most recognised intermediary consumer brand.
LENDERS ARE CHANGING THE WAY THEY PROVIDE MORTGAGES
It is not secret that things are becoming harder for property investors, especially in getting mortgages around London and other parts of the UK.
The increasing values are not even keeping up with rental prices around, this means that people are having to put more money of their capital down. More capital down means that there is less exposure for the individual, but potentially a less appealing investment in terms of ROI and rental yields.
No surprise, again. This is way so many property investors are actually considering buying outside the M25, and even more in other cities and areas around the UK. So, the lesson is really that you should go where the numbers really work, and where you the operation it’s worth your while.
Another bit of conversation has touched the first time buyers aspect, which of course are part of the reasons of the implications given by the mortgage and tax changes introduced. Still, according to Mike they are not really doing that well!