Property Investment News – It's time to split!
Welcome to this week's Property News. This week we look at breaking up the big four banking groups for better competition, how to avoid poverty in retirement, the housing market and my prediction on the double dip.
Should the big four banking groups be divided to make smaller banks? Are you satisfied with what is on offer in the mortgage market? Eric Daniels, CEO of Lloyds Banking Group, suggested “customers are satisfied” and is not sure if “dividing the banks would bring any better outcome”… what he's forgotten to say is that he's happy to sit on his big fat profits. Would you agree that we're in desperate need of more competitions?
Shocking figures shows one in ten over 75s are still paying off their mortgage averaging £72,500. Many struggle to maintain even a basic standard of living. With more than 50% of over-55s without savings of any kind – it's a matter of food vs fuel. Do you ever want to ask yourself this question: Should I eat or heat this week? Do you have enough to retire comfortably? If you don't have any assets or savings for your retirement, it's time to act now and consider property investment to avoid living in poverty.
There's a big section on house prices, house sales and my prediction on the double dip. Keep this in mind – the UK is getting back on its feet with lending slowly coming back. House prices are starting to come back down, supply is drying up and we'll soon see some reality back in the property market. Find out in this week's video what this means for your buy-to-let investment.
As always, if you have any questions about the video or information about the property market please give us a call on +44 (0)207 923 6100.
Live with passion