Challenges in the Financial Market - with Marc Champ

Rob is joined once more by Marc Champ of Wharf Financial to discuss the current challenges in the financial industry, the difficulties they have been facing in recent weeks, including inflexible lending parameters and stricter criteria for loan approvals, and the potential impact of global events, such as the bankruptcy of Chinese property companies, on the property market.  KEY TAKEAWAYS August is a difficult month for deals in the financial industry, as many people take holidays, leading to delays and challenges in getting deals through. Lenders have become less flexible and more stringent in their lending parameters, making it harder to get deals approved. There has been a decrease in property valuations and an increase in stress test requirements, making it tougher to get deals over the line. The increase in interest rates was predicted and is causing some nervousness among borrowers, but it is seen as a necessary adjustment to ensure responsible lending and discourage easy borrowing. BEST MOMENTS "Where it is tricky, that's where the good people make their money. There's opportunities and there will be more." "I think the rates are actually at a level where they probably should be to ensure that you actually have to have a good amount of skin in the game to be able to make money." "And it's such an easy system to use. And again, we had a run through on Wednesday night showing a room of 50 people. And they were all just amazed by how quickly you can get terms for development finance." "I think it's very important when people are looking at funding to check who the broker is, check who the lender is and where their funding is coming from." VALUABLE RESOURCES GET YOUR DEVELOPMENT FINANCE HERE: https://propertyfundingplatform.com/WharfFinancial#!/borrowerinitialregistration SOVEREIGN MAN PREMIUM INTELLIGENCE MEMBERSHIP https://dash.sovereignman.com/a/smc12m995/tpnpodcast SOVEREIGN MAN 4th PILLAR https://dash.sovereignman.com/a/4pmain/tpnpodcast ABOUT THE HOST Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s. BOOKS  Property FAQs = https://amzn.to/3MWfcL4   Buy To Let: How To Get Started = https://amzn.to/3genjle   101 Top Property Tips = https://amzn.to/2NxuAQL   WHERE TO FIND US https://linktr.ee/thepropertynomadspodcast uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast