Mortgage lender limits loans size due to fears of falling Coronavirus housing market
In this Money Tips Podcast episode:
- Nationwide cuts lending in fear of negative equity in a falling market
- Bigger deposits required from borrowers to cover future price drops
- Maximum LTV Loan to Value cut from 95% – 85% for First Time Buyers
- Brokers report tightening mortgage lending as banks become cautious
- Numbers claiming work-related or unemployment benefits up 126% to 2.8 million
- Economists warn of higher unemployment figures when furlough scheme ends
- UK economy shrinks by 20% in April – biggest monthly drop in history
- UK House prices suffer biggest fall in 11 years as lockdown kills the economy
- Will your job be one of millions phased out by automation, innovation and AI?
- You don’t need your own money to create a second income in property
- Time to your economy or Uconomy started whatever the economy is doing!
- You can create a second income during the lockdown…and come out stronger
- Learn how to make money from property without deposits, mortgages and cash
Millions of people face a bleak future post-Coronavirus lockdown, as businesses disappear and the job furlough scheme eventually comes to an end. However, life doesn’t have to end because of lockdown! You can join thousands of ordinary people who have increased their income and added streams of new income during this period.
Are you ready to adapt to the new economic model?
As lockdown restrictions around the world are being eased, the economic model has subtly changed forever. How will you adapt to this new way of working and running a business, what obstacles and opportunities lies ahead? Will you be a participant or spectator in this revolution?
By Charles Kelly, Property Investor, Author of Yes, Money Can Buy You Happiness and creator of Money Tips Podcast.
There are more examples and practical steps to getting rich and being happy in my book, Yes, money can buy happiness, I cover the 3 R’s of Money Management, the Money B.E.L.I.E.F System and much more. Check it out on Amazon http://bit.ly/2MoneyBook.
If you’d like further information on how to survive the crisis and even quit the rat race, email me at Charles@CharlesKelly.net or send me a message through Facebook or my Money Tips Daily community. See more articles at www.moneytipsdaily.com
True entrepreneurs create wealth and jobs and don’t need you to be poor for them to be rich.