Mortgage Market Update with Marc Champ of Wharf Financial

Marc Champ of Wharf Financial joins Rob to discuss the current state of the property market. Despite the usual slowdown during the festive season, Marc reveals that he has been unusually busy in recent weeks, attributing this to the decrease in interest rates, which has prompted investors to re-enter the market. They discuss the types of properties that are in demand, such as terrace houses for conversion into HMOs and houses for conversion into flats, and also shares insights into the lending landscape, noting that while rates have dropped, lenders are facing challenges in converting applications into completed deals.  KEY TAKEAWAYS Property market activity has picked up in recent weeks, with investors returning to the market as interest rates have eased off. Lenders are actively seeking deals, but the conversion rate from application in principle to completion may be lower due to stricter stress tests. Rates have come down across the board, and there are new lending products being piloted that have been beneficial for customers. December is a good time for business owners to work harder and plan for the upcoming year, taking advantage of the quieter period when others may be less focused. Inflation appears to be under control, and interest rates may not drop significantly in the next six months. However, there are still opportunities in the property market, particularly for those looking to buy distressed properties. BEST MOMENTS "I think inflation is under control and we're going to have to actually say inflation has been conquered for now."  "There's always opportunity, keep your eyes open, keep looking, keep talking to people" "The more situations you put yourself in, the more opportunities that will arise."  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