UK House Prices Are At All Time High But Mortgages Are A Lot Harder To Get

Brett Alegre-Wood
October 15, 2020

why its difficult to get mortgages these days

Even though there's a lot of property on the market and there's a lot of interest they're still going to get mortgages and mortgages are getting a lot harder.

More...

House price and hotspots I mentioned before I think what we're going to see is we're not going to see the growth that we've seen. I don't think there's a level of activity. I think there was a real surge but I think a lot of that surge was sort of what I've been hearing from a lot of the guys is that it's not necessarily converting into sales.

So even though there's a lot of property on the market and there's a lot of interest they're still going to get mortgages and mortgages are getting a lot harder.

You know the hoops you have to jump through are almost impossible. I mean we've got international buyers. International buyers are really struggling to get mortgages the number of mortgages they can get has gone down. And really you know it's one of those things where you know I have to say you know the whole game that they're playing is going to be an interesting one.

The 3+1 Plan Brett AlegreWood
The 3+1 Plan Brett AlegreWood
Get the perfect plan for todays market. Download The 3+1 Plan now!
Get the perfect plan for todays market. Download The 3+1 Plan now!

But what do I think with house prices. A couple of news articles UK house prices searched an all-time high after the biggest monthly jump since 2004. 100% they did you know and they did because there was the austerity layered with Brexit and then all of a sudden the government comes out and said no no austerity's gone we're now going to spend.

We're now going to stimulate, we're not going to make things happen. We're now going to remove the red tape and roadblocks. I think that's good you know news and that's what's held it through but I don't think that's going to necessarily sustain.

Now obviously you layer on top as well as that with the things they've done with stamp duty and the things they've done with the planning and all these sort of stuff. You start to get a picture of why things you know really just bounce back.

Search Our Articles

It's a great thing that they've done that but do I think it's sustainable in the long term. A lot of these things are more people that have been waiting to get on the ladder are getting on the ladder which is great.

It's able to sustain itself enough that we're not going to see massive drops. I don't think we're going to see the 30% drop-offs unless some serious stuff happens. You know Trump gets re-elected and starts really going after China and puts the whole world in the sort of that sort of thing there's a few things like that.

We'll look at Trump a little bit later but up but I think realistically you know job search will it continue I don't so the house price surge I don't think is going to continue but I also don't think we're going to see prices drop off massively they could come off but that's normal in the winter.

Video Transcription

House price and hotspots I mentioned before I think what we're going to see is we're not going to see the growth that we've seen. I don't think there's a level of activity. I think there was a real surge but I think a lot of that surge was sort of what I've been hearing from a lot of the guys is that it's not necessarily converting into sales. So even though there's a lot of property on the market and there's a lot of interest they're still going to get mortgages and mortgages are getting a lot harder. You know the hoops you have to jump through are almost impossible. I mean we've got international buyers. International buyers are really struggling to get mortgages the number of mortgages they can get has gone down. And really you know it's one of those things where you know I have to say you know the whole game that they're playing is going to be an interesting one. But what do I think with house prices. A couple of news articles UK house prices searched an all-time high after the biggest monthly jump since 2004. 100% they did you know and they did because there was the austerity layered with Brexit and then all of a sudden the government comes out and said no no austerity's gone we're now going to spend. We're now going to stimulate, we're not going to make things happen. We're now going to remove the red tape and roadblocks. I think that's good you know news and that's what's held it through but I don't think that's going to necessarily sustain. Now obviously you layer on top as well as that with the things they've done with stamp duty and the things they've done with the planning and all these sort of stuff. You start to get a picture of why things you know really just bounce back. It's a great thing that they've done that but do I think it's sustainable in the long term. A lot of these things are more people that have been waiting to get on the ladder are getting on the ladder which is great. It's able to sustain itself enough that we're not going to see massive drops. I don't think we're going to see the 30% drop-offs unless some serious stuff happens. You know Trump gets re-elected and starts really going after China and puts the whole world in the sort of that sort of thing there's a few things like that. We'll look at Trump a little bit later but up but I think realistically you know job search will it continue I don't so the house price surge I don't think is going to continue but I also don't think we're going to see prices drop off massively they could come off but that's normal in the winter.


Tags

Property Videos


You may also like

London Property Investment You’re about To Hear a lot More

UK Property Market, Will The UK Be Shut Down Over Christmas?

Beginner Investor Live Property Webinar Series

How to Make Property Investment Effortlessly Done For You!

Join our resident experts - Dan, Ritesh & Ryan 

Dan Ritesh Ryan
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"62516":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"62516":{"val":"var(--tcb-color-3)","hsl":{"h":225,"s":0.82,"l":0.01}}},"gradients":[]}}]}__CONFIG_colors_palette__
Reserve your Seat Now!
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"c162b":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"c162b":{"val":"var(--tcb-skin-color-0)"}},"gradients":[]},"original":{"colors":{"c162b":{"val":"rgb(19, 114, 211)","hsl":{"h":210,"s":0.83,"l":0.45,"a":1}}},"gradients":[]}}]}__CONFIG_colors_palette__
Previous Article
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"c162b":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default","value":{"colors":{"c162b":{"val":"var(--tcb-skin-color-0)"}},"gradients":[]},"original":{"colors":{"c162b":{"val":"rgb(19, 114, 211)","hsl":{"h":210,"s":0.83,"l":0.45,"a":1}}},"gradients":[]}}]}__CONFIG_colors_palette__
Next Article

Property Investment... Effortlessly Done For You!

>