Bank Of England Interest Rate Update
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Description
Simon delves into the impact of interest rates on property investing, beginning with the recent decision by the Bank of England to maintain the base rate at 5.25% amidst falling inflation rates. He emphasises the current buyer's market, highlighting opportunities for investors to negotiate favourable purchase prices. Additionally, insights are shared on potential future interest rate reductions and their implications on the property market.  KEY TAKEAWAYS Interest rates have remained high at 5.25%, impacting property investors looking to refinance or buy new properties. The current market is a buyer's market, with more sellers than buyers, presenting an opportunity for investors to negotiate good purchase prices. Advanced property investment strategies like HMOs and service accommodation can still be profitable despite high interest rates. Predictions suggest interest rates may decrease in 2024, potentially leading to a property market recovery by 2025. Landlords may be looking to sell properties in the next six months due to changes in capital gains tax rates, potentially leading to a dip in property prices in 2024. BEST MOMENTS "I think many people are wondering when we're going to see interest rates come down... Some people think we might get a drop in interest rate as soon as May or June." "I believe you should be investing all the time, not worrying about short term fluctuations... as long as the property stacks up and makes money for you." "I think it's such a great time to be investing... I'm going to be buying probably more property in the next 24 months than I probably have in the last decade." "I predict that the beginning of 2025, we're going to see the property market start to really recover... I think we're going to see reductions before that because these high interest rates are struggling or restricting the economy recovery." "Remember, only do really good property deals... have courage, get out there, find some great deals." 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 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). Register at Mindset For Property at - www.mindsetforproperty.co.uk  Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi  LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ 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 editi
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