1.1 million mortgage arrears - 5 Fact Friday Live at 1.15pm

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  • เผยแพร่เมื่อ 25 เม.ย. 2024
  • Plenty of news showing the direction of the housing market in this week's 5 Fact Friday.
    All link sources: mhwc.co.uk/blog/one-million-m...
    FTB offer email template: mhwc.co.uk/suggested-email-te...
    All my other links: linktr.ee/movinghomewithcharlie
    Listen to the audio podcast here: www.buzzsprout.com/2109129/14...
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ความคิดเห็น • 235

  • @stephengreen8986
    @stephengreen8986 หลายเดือนก่อน +21

    A large local employer yesterday announced a four percent payrise comparing this to 3.4% inflation. Instead of a round of applause and jumping for joy, the offer was greeted with glum silence followed by a queue of questions before management ended the meeting. Whilst life is tough for employers, employees have seen their rent or mortgage costs rise wildly and are rightly scared.

  • @AKcoxy
    @AKcoxy หลายเดือนก่อน +14

    I personally don't want rates to come down, I think its at a reasonable point. House prices are well over inflated and have been for a while, people have over paid and now rates are where they should be they have realised they have over paid and can't afford their house.

    • @Paul-zu2hf
      @Paul-zu2hf หลายเดือนก่อน +4

      Yes to this. Rates should go higher!

    • @RabJ756
      @RabJ756 หลายเดือนก่อน

      What proportion of the population can't afford to pay their mortgage and now forced to sell? Put it in percentage form to make it easy...

    • @imdadulhaque1347
      @imdadulhaque1347 หลายเดือนก่อน

      670k in mortgage arrears and another 500k soon to be...

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @@Paul-zu2hf, hey Jamie.....or is it Rihanna today? Lol

  • @g.p616
    @g.p616 หลายเดือนก่อน +20

    Recent ONS data shows sold prices down but new build prices UP 16% in ONE YEAR!!
    When a developer pays your Stamp Duty and/or gives you CashBack this should be represented as a price reduction by the ONS….. They are fools!!

    • @Loundsify
      @Loundsify หลายเดือนก่อน +1

      Also developers are offering shared ownership all over the place. How many naive young people will be jumping on shared ownership in a falling market 🙃

    • @Paul-zu2hf
      @Paul-zu2hf หลายเดือนก่อน +2

      I can't believe this price fixing isn't illegal. Utterly shameful practice and skews the land registry prices.

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @@Paul-zu2hf, nothing skewed mate. Average prices are ⬆️. Plenty of money circulating which is wonderful 💪

    • @rorys3489
      @rorys3489 หลายเดือนก่อน

      Absolutely...institutionally supported fraud

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @@Paul-zu2hf, nothing is skewed Jamie and Rhianne. Lol

  • @aidanapword
    @aidanapword หลายเดือนก่อน +8

    Occurs to me that if you remove the fog from the market too quickly then the nakedness of the market will be so obvious that the slide will overshoot.

  • @watchmanendtimes
    @watchmanendtimes หลายเดือนก่อน +24

    Crystal clear rstes not coming down

    • @sjt627
      @sjt627 หลายเดือนก่อน +1

      You wish

    • @Paul-zu2hf
      @Paul-zu2hf หลายเดือนก่อน +2

      They may throw a bone to the stressed out owners that overpaid. But it's not like a quarter or a half is going to make any difference.

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @@Paul-zu2hf, most people have come off their old fixed mortgage and onto the new without any problems. Plenty of buyers too. That's why prices are UP this year and will continue to rise as I predicted last year.

    • @watchmanendtimes
      @watchmanendtimes หลายเดือนก่อน

      @@Paul-zu2hf the aren't in control now .
      If market goes up.nothing they can do to.long end of curve

    • @Paul-zu2hf
      @Paul-zu2hf หลายเดือนก่อน

      @@RabJ208 without any problems 🤣🤣🤣🤣🤣🤣🤣yeah everyone's rolling in money 🤣🤣🤣🤣

  • @SuperJinxter
    @SuperJinxter หลายเดือนก่อน +1

    Something I noted the other day, I was checking my clear score credit rating, and part of that was a comparison to national and local averages. Where the local average (I assume where I live, Nottinghamshire) is about steady, the average national score is dropping. I don’t know what it was last month but I remember it being in the 600’s. Now though, it’s in the 500’s.

  • @stephengreen8986
    @stephengreen8986 หลายเดือนก่อน +6

    Allow me to explain the difference between a crash and a slide. If you brake hard on ice in your car you may experience some spinning and loss of control. A crash is immediate and sudden and destructive. Both may have consequences for your underwear.

  • @Paul-zu2hf
    @Paul-zu2hf หลายเดือนก่อน +9

    Rabj Mr 'mortgage rates will fall well below 4% this year' has been very quiet lately.

    • @RabJ208
      @RabJ208 หลายเดือนก่อน +3

      I've remortgaged one of my propeties at 3.7% already and were not even midway through 2024 yet.

    • @Paul-zu2hf
      @Paul-zu2hf หลายเดือนก่อน +3

      @@RabJ208 🤣🤣🤣🤣🤣🤣🤣

    • @RabJ208
      @RabJ208 หลายเดือนก่อน +3

      @@Paul-zu2hf, I predicted that mortgage rates would drop below 4% in 2024. Was I wrong? Lol

    • @RabJ756
      @RabJ756 หลายเดือนก่อน +3

      ​@@Paul-zu2hf, my predictions always come true.

    • @Paul-zu2hf
      @Paul-zu2hf หลายเดือนก่อน +1

      @@RabJ756 just because one person can get a mortgage below 4% does not mean 'mortgages' are way under 4% like you claimed.

  • @jamesbrannick528
    @jamesbrannick528 หลายเดือนก่อน +10

    If you are clued in to the current global economic picture things are gonna get messy real soon.

    • @exploringsuffolk
      @exploringsuffolk หลายเดือนก่อน +1

      Yes UK house prices are a very small part of the global picture and actually not really a part they will be effected big time shortly

    • @toiletrollholder
      @toiletrollholder หลายเดือนก่อน

      Most haven't got a clue. I was flabbergasted recently to discover how much credence educated people give to what they hear on TV and read in the newspapers. They told me I should fact check what I discover on social media but they never fact check what they're told 😳. One of them has had her house on the market for a year now. 😮

    • @exploringsuffolk
      @exploringsuffolk หลายเดือนก่อน

      @@toiletrollholder yes media like TV and newspaper is often wrong

    • @toiletrollholder
      @toiletrollholder หลายเดือนก่อน

      @@exploringsuffolk deliberately misleading in fact. Luckily my dad told me back in the 70s that TV was propaganda and that the news was lies and propaganda. I suspect social media started off as a chance for people to spread truth but then got taken over by the dark cult like everything else. So we have to wade through nonsense but at least we do check.

    • @neds3685
      @neds3685 หลายเดือนก่อน +1

      ​@@exploringsuffolk question remains - how far down

  • @saltaireorangebicyclechopp8555
    @saltaireorangebicyclechopp8555 หลายเดือนก่อน +7

    Too many people, not enough homes. There's not going to be a calamitous crash, l am 62, been in this situation several times, there might well be a short lived fall, but as in every other time it'll affect those unfortunate ones who are over stretched and/or lose their jobs. How many times have l heard that t.h.i.s time is different? Only to see house prices rise yet again, this time will be no different IMO.
    I've inherited a 2nd house, no buyers, no problem for me, l am renting it out for more per annum than if l'd sold it and stuck the £ in a high interest rate account, and there will be 100,s of 1000's like me every year....
    I am not suggesting this is societically good, it's not, but it is what it is, a fall that some want will only see families holding onto property, owned, mortgaged or inherited..forever.

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      Correct! Lack of housing and too many people is propping the market up.These people think there are too many houses and not enough people to fill them. Lol.

    • @naeedaafzal3055
      @naeedaafzal3055 หลายเดือนก่อน +2

      i have seen properties that have come on market high prices that need so much work. I have been following the prices and they have not been sold. And they are in bad condition unless they are willing to decorate and rent otherwise they will not be able to sell them.

    • @stephengreen8986
      @stephengreen8986 หลายเดือนก่อน +1

      Saltaire. Doesn't matter how many people. It's about how many willing qualifying buyers. You are right that renting market is high and selling is slow so hope your strategy works out.

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน +6

      People without money can’t buy homes. 🤷🏻‍♂️

    • @Leapops
      @Leapops หลายเดือนก่อน

      @@MovingHomewithCharlie And people with money can buy homes and are doing so.

  • @fizywig
    @fizywig หลายเดือนก่อน

    Large 3-4 houses in "posh" central parts of Edinburgh are in very short supply, that's why nearby well connected parts of East Lothuan new build developments saw highest price hike a year ago, families looking for larger affordable nouses

  • @rachelm4215
    @rachelm4215 หลายเดือนก่อน +2

    Do we know if the number of mortgage holders in arrears is per property or per person? I.e would a couple with a mortgage be 2 in arrears or just 1 as jointly liable in the stats?

  • @theconspiracyfactorist.144
    @theconspiracyfactorist.144 หลายเดือนก่อน +1

    Missed the live. I'm catching up 😮

  • @craptacular8282
    @craptacular8282 หลายเดือนก่อน +1

    There is a youtuber in the US michael bordenaro. I don't know if he's been watching Charlie's videos or if he's come to the same conclusion on his own, but he put out a video the other day saying the median house price is a lie.

  • @Abigail-sx8mt
    @Abigail-sx8mt หลายเดือนก่อน +8

    I've been out viewing. Found property I like, ready to offer. BUT there is a funny smell and there was mould on the plastic window frames. It's also over priced. A week after I had asked the agent about this, the agent said a damp inspection was carried out and there no damp issues, it's just been shut up for a long time. I asked to see the report, they couldn't provide one, owner couldn't find it, even though it's been done in a week of me asking. Second point part of the garden I asked if it belongs to the property, agent said they'd check and it does. I checked on land registry and it's not. Should I walk away. It's the agent or owner not being factual. I just don't know.

    • @exploringsuffolk
      @exploringsuffolk หลายเดือนก่อน +12

      Run away now

    • @Bubbles77418
      @Bubbles77418 หลายเดือนก่อน +3

      If it smells like 🐂💩 chances are it is. Estate agents are worse than used car salesmen, unfortunately. It will just cost you thousands for a conveyancer and surveyor to uncover the truth...... Don't walk, run!

    • @geoffhalbert5435
      @geoffhalbert5435 หลายเดือนก่อน +2

      The house I'm trying to proceed with has had hiccup after hiccup the estate agent told me the seller had all his ducks in a row 5 months later I'm still waiting for an electricians report. The seller got funny about having to produce one and wanted me to also pay for a second one. The advice I have been given is to walk away except the sellers solicitor wrote in clause that any that walks away from the table owes 4/cent of the agreed price. I too want to walk away I feel conned

    • @Bubbles77418
      @Bubbles77418 หลายเดือนก่อน +4

      @@geoffhalbert5435 were you made aware of this said 'clause' when you agreed to purchase the property? If not, then I'd tell them to stick it where the sun doesn't shine.

    • @jamessky9155
      @jamessky9155 หลายเดือนก่อน +3

      Should you walk away? If there is mould present I would not walk away, I'd bloody well sprint, lol. Seriously, where there is mould there will be more. It amazes me when vendors, agents, photographers think nothing about having photographs of black mould on a listing. When I see that on a property that has piqued my interest I just close the tab immediately.

  • @cunnyfunt888
    @cunnyfunt888 หลายเดือนก่อน +1

    Great video mate but that end section discussing Rightmove's corporate "friends" sounds an awful like they are intentionally/unintentionally compromised.

  • @laurochaves4169
    @laurochaves4169 หลายเดือนก่อน +2

    Englishman's home is his castle, well its like a prison when you need to work 24 hours to pay the mortgage.

  • @francisravenscroft-dw6gi
    @francisravenscroft-dw6gi หลายเดือนก่อน

    Charlie missed the importance of the Swap rate- this is the cost and risk of financing debt. If money markets feel that the risks to the money that they are being asked rises, then they negotiate a higher interest.

  • @Paul.simpson84
    @Paul.simpson84 หลายเดือนก่อน +1

    FYI 12000 listings withdraw from the market per week, STC’s are around 25000.
    This week 37000 listings

    • @Longinus-fe9tu
      @Longinus-fe9tu หลายเดือนก่อน +1

      Can you clarify your point Paul? Are you saying that all 37k listings are new to the market or relistings or something else?

    • @Paul.simpson84
      @Paul.simpson84 หลายเดือนก่อน +1

      @@Longinus-fe9tu it’s just the reported data, I assume they are all new it doesn’t include new price, people may move agents and repost of course

    • @neds3685
      @neds3685 หลายเดือนก่อน

      Any idea of the average ages of these listings that have withdrawn?

    • @Paul.simpson84
      @Paul.simpson84 หลายเดือนก่อน

      @@neds3685 yea it’s around the same number

  • @matty506
    @matty506 หลายเดือนก่อน +4

    Viewed a flat today through purple bricks and they said they've got mortgages through nationwide at 3.8% I've already got my mip through another advisor at 4.7% with 20% deposit but I do wonder if they really can get them at 3.8% or if they just say that to get you through the door..

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน +2

      Purplebricks cannot be trusted.

    • @robertstorey7476
      @robertstorey7476 หลายเดือนก่อน

      Why would the Nationwide or anyone else lend money to you at 3.8% when they could buy risk free gilts and lend money to the government for the same length of time and get 4.5%?

    • @Paul-zu2hf
      @Paul-zu2hf หลายเดือนก่อน

      @@robertstorey7476 that's easy, because rabj says so, and he's never wrong.

    • @Leapops
      @Leapops หลายเดือนก่อน

      @@robertstorey7476 Arrangement fees.

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @@robertstorey7476, that's what banks have been doing for hundreds of years. LENDING MONEY.

  • @geoffhalbert5435
    @geoffhalbert5435 หลายเดือนก่อน +1

    Houses may never go ke-splat but the jobs market does

  • @Garcia061
    @Garcia061 หลายเดือนก่อน

    Just FYI. The reporting on US inflation is bizarrely skewed by car insurance and energy. Actual inflation if you strip out a few anomalies is close to 2.1%. Totally agree UK won’t cut until the Fed do.

  • @user-gt7jp4xk8p
    @user-gt7jp4xk8p หลายเดือนก่อน +2

    In our local town last year 43 now 97

  • @jamiejones642
    @jamiejones642 หลายเดือนก่อน +9

    Br8ng em down 😂 i wanna see 80% drops in house prices 😆😆

    • @RabJ208
      @RabJ208 หลายเดือนก่อน +2

      No No - the 90% crash 😂😂😂

    • @jamiejones642
      @jamiejones642 หลายเดือนก่อน +2

      @@RabJ208 I'm ready debt man 😁

    • @naeedaafzal3055
      @naeedaafzal3055 หลายเดือนก่อน +1

      I need it to drop 50% to buy a bungalow that I want

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @@naeedaafzal3055, how much is the bungalow now?

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @@naeedaafzal3055, how much is the bungalow now?

  • @kiranbarrow4648
    @kiranbarrow4648 หลายเดือนก่อน

    I m taking voluntary redundancy from a big mortgage lender and my partner wasnt paid his monthly salary on friday...thats the state of play in the economy...might go back working for bank in recovery

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน

      Sorry to hear that on both counts. Good luck 🤞🏻

  • @growingandlearning164
    @growingandlearning164 หลายเดือนก่อน

    The slurping really magnifies through ear phones :)

  • @g.p616
    @g.p616 หลายเดือนก่อน +2

    Hang on Charlie. New house listings don’t exist in a vacum. Most sellers are buyers ( landlords and probate excepted), so all those sellers are also buyers. Not sure your correlation between number of properties listed and downward pressure on the market is that strong.

    • @geoffhalbert5435
      @geoffhalbert5435 หลายเดือนก่อน +1

      Not true I sold and I've been sitting in a caravan on the side of the road for 6 months waiting for the price to drop

    • @sjt627
      @sjt627 หลายเดือนก่อน

      ​@@geoffhalbert5435 yeah because there's millions of people doing that

    • @danbooker278
      @danbooker278 หลายเดือนก่อน +1

      Same .. except I’m in a beach bungalow in Thailand watching the shit show that is UK from afar.. not even sure I want to buy in UK at this point.. bad times .

    • @toiletrollholder
      @toiletrollholder หลายเดือนก่อน

      There's a considerable number selling but not buying. Moving in with family or into rental. More than at any time I've been in the market before.

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน

      You're overlooking the fact that they are would-be sellers, but not succeeding if all their properties are still listed for sale. They can't become buyers without a sale first. So, the more unsold stock, the fewer of them will be buyers, and this puts downward pressure on prices.

  • @EileenSanders
    @EileenSanders หลายเดือนก่อน +1

    I would walk away

  • @stevo728822
    @stevo728822 หลายเดือนก่อน +3

    Quite a lot of echo on the audio. Could do with some soft furnishings in the room.

    • @exploringsuffolk
      @exploringsuffolk หลายเดือนก่อน

      Yes or sound boards around desk

    • @sjt627
      @sjt627 หลายเดือนก่อน +3

      It's because this channel is an echo chamber

  • @thedean4431
    @thedean4431 หลายเดือนก่อน

    an american bank has gone under first of the year

  • @TMZ-5jr
    @TMZ-5jr หลายเดือนก่อน

    The economy is polarised. Those that lose employment this year will see life chances gone to the benefit of a FTB buying their first home, or a professional property developer, or extinct landlord.

  • @drewhodge3820
    @drewhodge3820 หลายเดือนก่อน +3

    BOE will drop interest rates in June/July but it won't be as much as we would like. Then BOE will put it up again by the end of the year to slow Xmas spending.

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน +1

      It sounds like you completely ignored Fact 5! 😎

    • @healthiswealth6797
      @healthiswealth6797 หลายเดือนก่อน

      Tories are piling on the pressure for a rate cuts , even though Bank of England is independent, fed up of politics in this country it’s a joke

  • @Silversqueeze2025
    @Silversqueeze2025 หลายเดือนก่อน

    1.1 million repossessions coming then auction houses will be flooded with cheap properties

  • @gwynsea8162
    @gwynsea8162 หลายเดือนก่อน +3

    Been busy with blah blah - no you haven't! I've seen your plane all over the place recently!!!

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน +1

      So I could get away from home and focus enough to get some actual work done!

  • @DAHQatar
    @DAHQatar หลายเดือนก่อน

    Charlie I dare you to use the word ‘usury’ instead of ‘interest’.

  • @zengletree
    @zengletree หลายเดือนก่อน +1

    I purposely miss the first minute to avoid the slurp. Then he hits us with a second one later on. Stop it Charlie. 😡

  • @Leapops
    @Leapops หลายเดือนก่อน +3

    Blimey Charlie you really are scrapping the barrel today.
    Some valuation on Zoopla, which is totally inaccurate to start with for a house out of reach for most people listening in, has had its fictional valuation reduced by 35% Wowee! You don't even say what your friend actually sold for.
    My Zoopla "incorrect valuation" has gone up in the same time period.
    All of these anecdotes are as meaningless as Rightmoves average price data.

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      True!! Well said!

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน

      It’s as valid, but no more valuable, as any other anecdote

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      They have to rely on personal anchdotes and scouring the internet for deals to justify their argument. Much easier for us because we just flick though the ONS website for our information which is much handier I say.

    • @Leapops
      @Leapops หลายเดือนก่อน

      @@MovingHomewithCharlie. I agree. Along with other anecdotes it was totally useless for use in supporting or debunking your “expectation.” But I suspect Sycamore et al will cling to it as firm evidence of the impending doom that is just around the corner despite the lack of any actual hard data of said doom.

  • @SycAamore
    @SycAamore หลายเดือนก่อน +9

    Want to repeat again in case someone missed that, whoever bought in the last 2 years, is already 8cked. Many don't know it yet, but the realization will be slow and painful. And I don't really care if you bought cash or with a 90% mortgage. Same situation. And we may not see this level of prices in our lives again...

    • @Leapops
      @Leapops หลายเดือนก่อน +3

      8cked?!
      1) If you can afford to buy a house for cash then you probably couldn't give a 8ck what happens to house prices especially if you are buying somewhere to live.
      2) You clearly do not understand the basics of inflation. We will definitely not only witness these prices in our lifetimes again but also prices many times higher.

    • @SycAamore
      @SycAamore หลายเดือนก่อน +2

      @@Leapops You are really clueless! I saw you several times in other discussions. People view houses as their biggest pension pot. They DO care what happens to their house price. Everything else is just drivel and nonsense,...

    • @bradsmith9689
      @bradsmith9689 หลายเดือนก่อน +3

      He's busy up ticking himself. ​@Leapops

    • @jibinnjonginyil
      @jibinnjonginyil หลายเดือนก่อน +1

      @@Leapops house prices have gone down in the past. Due to low interest rate since over a decade ago, asset prices went up a lot while wages didn’t all that while, now that interest rates gone up asset prices will go down, why would you think it will not ?

    • @RabJ208
      @RabJ208 หลายเดือนก่อน

      @SycaMore, you've got it mixed up. If you don't own your own property by now - you're f8cked because it is getting more and more difficult. The rich are getting richer and the poor are getting poorer. I'm buying up these properties.

  • @flatoutuk
    @flatoutuk หลายเดือนก่อน

    Do us a favour, get rid of the countdown at the start. It's cringe

    • @MovingHomewithCharlie
      @MovingHomewithCharlie  หลายเดือนก่อน

      If we delete it, it also removes the live chat feed for people to see in the replay. The countdown is to allow people who want to to watch from the beginning.