Property News: Mortgage Market Update & Lockdown Trends – Progressive Property Podcast

In this weeks property news, we see increased activity in buy-to-let and residential mortgage searches with the rise of property prices and the start of lockdown 2.0. Listen in as Kevin brings you the latest updates from the world of property investing and shares his advice both on short-term and long-term property strategies to combat the lockdown trend seeing a mass exodus of city apartment rentals. 

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KEY TAKEAWAYS

Weekly Property News

• Property Investors Today: Warns investors not to change strategy based on lockdown trends. In the short term COVID has resulted in an exodus of people leaving apartments in the main cities and moving out to more spacious and greener areas but should we stop investing in these types of properties? Longer-term these apartments remain a good investment as we return to normality.
• Mortgages have seen an increased in activity admit the start of lockdown 2.0 in England. Weekly mortgage, buy-to-let and residential mortgage search volumes have increased demonstrating a renewed interest in the property market as prices rise. 

Progressive Property Community News

• Can you get a buy-to-let mortgage for 15-20k? There are only a couple of lenders that will loan at 80% LTV in the current economic climate. Whilst it is possible to get a mortgage at this rate it may not offer a favorable interest rate.
• What do you do if your HMO tenant isn’t paying? Part of your property journey will involve tenants not paying their rent. But what can you do? You can serve a section 8 notice and get the tenant out of the property and by investing in a Rent2Rent or HMO strategy you can scale to 20 tenants quickly which will cover the cost of the non-paying tenant.

• Check out a brand new Serviced Accommodation 7-day challenge with Kevin Poneskis. Learn about what it takes to start, run and grow a Serviced Accommodation business. Join Here

BEST MOMENTS
“We should not take a short term change such as COVID as a long term change in the property market.”

“Follow the fundamentals of what has made property a great investment strategy not the short term changes.”

“Now is the time to start investing in property and grasp the current opportunities in the market”

“This is the new 2008, how many people wished they had invested in property back then?” 

SUBSCRIBE TO THE A NEW INVESTMENT SERIES

Episode One: How to Perfectly Invest £10,000 | The Best Stocks | Property | Gold & Classic Cars
Watch Live On The Progressive Property YouTube Channel Every Monday At7PM Tiny.cc/PPTV
Listen To Audio Recordings On The Money Podcast bit.ly/moneypodcastitunes

ABOUT THE HOST

Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.   

CONTACT METHOD

https://www.facebook.com/kevinMcDonnellProperty/ 

https://kevinmcdonnell.co.uk/