In today's podcast, Mark has invited a special guest, Jonny Dunn from DNA Financial Solutions, to provide an update on the market.
Since the last update, we had a mini budget and there have been slight alterations in the interest rate market, where 5-year fixed rates have only moved up by 0.1%.
Rates have remained consistent and have not fluctuated much, indicating confidence in the market, which is a good sign. As a result, more first-time investors are joining the property market with increased confidence and less nervousness.
It is no longer possible to offset the interest from your mortgage against your tax bill, which can result in a higher tax bill.
Jonny Dunn recommends ensuring that all properties are insured when doing Serviced Accommodation, as any mishap could lead to a significant bill.
One important point highlighted by Jon is that you need to ensure that your lenders permit the services that you are offering. With the advent of AI, lenders will soon be able to identify individuals who are renting out their properties on platforms such as Airbnb. Therefore, it is crucial to ensure that your lenders allow you to offer such services.
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In today's podcast, Mark has invited a special guest, Jonny Dunn from DNA Financial Solutions, to provide an update on the market.
Since the last update, we had a mini budget and there have been slight alterations in the interest rate market, where 5-year fixed rates have only moved up by 0.1%.
Rates have remained consistent and have not fluctuated much, indicating confidence in the market, which is a good sign. As a result, more first-time investors are joining the property market with increased confidence and less nervousness.
It is no longer possible to offset the interest from your mortgage against your tax bill, which can result in a higher tax bill.
Jonny Dunn recommends ensuring that all properties are insured when doing Serviced Accommodation, as any mishap could lead to a significant bill.
One important point highlighted by Jon is that you need to ensure that your lenders permit the services that you are offering. With the advent of AI, lenders will soon be able to identify individuals who are renting out their properties on platforms such as Airbnb. Therefore, it is crucial to ensure that your lenders allow you to offer such services.
VALUABLE RESOURCES:
CONNECT WITH US:
Facebook: https://www.facebook.com/propertyinvestorsnetworkuk
LinkedIn: https://www.linkedin.com/company/property-investors-network
YouTube: https://www.youtube.com/c/propertyinvestorsnetwork
Twitter: https://twitter.com/pin_uk/
Instagram: https://www.instagram.com/propertyinvestorsnetworkuk/
TikTok: https://www.tiktok.com/@propertyinvestorsnetwork