Hey, I'm Matt. I've worked for several years in financial services & banking for one of the UK's largest banks in London and now work as a senior product manager in a global startup. On the side, I'm building a property development group utilising all my leadership, project management and financial experience. I'm helping share my knowledge of working in these roles mixed with the world of property.
🤔 Here's why the property market won't crash yet
👋 Hey friends
In personal news... we're in the midst of peak stress at the moment. I made the huge mistake when selling my London flat, of choosing to go with Premier Property Lawyers as the solicitors. What was I thinking!?
I sold the flat through Strike which meant that I paid £0 fees (apart from rightmove premium listing costs) but no agent fees. They gave me the hard-sell on using their in-house conveyancing which I decided to go for. I WISH I had gone with a more expensive, local solicitor. 7.5 months later - we're still trying to sell an unchained flat. There's not really been any issues, but they are painfully slow.
Both me and the buyer went with them as we were sold a 'speedy' 6 - 8 week service. After 6 months I sacked them on my side and got a better solicitor more local to me who has almost got it to completion now.
We're lingering a little bit but it's all on their part - we also have an onwards chain now which wasn't meant to happen so we have pressure from the house we're buying to complete and hurry up.
Hopefully in the next 4 weeks I'll finally have dates to plan around.
In other news, the YouTube channel hit over 25,000 subscribers this week. Awesome to see so many people learning and following along on both my journey and boosting their own education for free!
I have an awesome video below in this email covering my top mistakes when buying my first buy to let.
🏡 Property Market Latest
Is the property market going to crash? How will the cost of living crisis affect prices?
Hometrack have released their August report (covering July data). House price growth is currently 8.3% Year on Year. There's recently been a bit of a surge of first time buyers to the market quite interestingly.
Zoopla also released their blog in conjunction with Hometrack. Interestingly, they anticipate localised house price falls if mortgage rates were to rise higher than 5%. There's no anticipated drops - we're still riding the end wave from the pandemic so we're still not seeing a 'normal yet.
As with investing - it's for the long term anyway so carry on!
Key takeaways
- Your home and investment properties will continue to rise in value slowly over the rest of the year, totalling an average of 5% growth in 2022. Not bad.
- If you decide to sell, you’ll benefit from an average £19,800 rise in value in the past 12 months
- Downsizing or moving to an energy efficient home could help you offset interest rate rises and cost of living pressures.
📺 YouTube
I wish I had avoided these 5 mistakes on my first buy to let
This video goes through the crucial things I learned going through the process of viewing a house, making an offer, purchasing it through a limited company and managing a £17,000 refurbishment.
I quit my London banking job after learning these 3 things
It's not all property here! I worked at Lloyds Banking Group for 7 years and learned 3 crucial lessons. Here's why I quit the traditional 9-5 and moved to a fully remote tech startup instead.
Speak soon!
Matt
Matt Brighton
Hey, I'm Matt. I've worked for several years in financial services & banking for one of the UK's largest banks in London and now work as a senior product manager in a global startup. On the side, I'm building a property development group utilising all my leadership, project management and financial experience. I'm helping share my knowledge of working in these roles mixed with the world of property.
Hey friends, It's been a few months. I don't tend to spam your inbox with lots of these emails for those who have been subscribed for a long time to my updates. As usual, if this newsletter isn't for you - there's a link at the bottom to remove yourself from the list. What's going on in the property market? My latest YouTube video explores the latest figures and provides a balanced view of what's happening in the property market. Rishi is celebrating halved inflation, which doesn't mean...
👋 Hey Reader It's been a busy few months, so I've been a little quiet on emails. We finally moved into the big renovation project outside of London after a stressful 8 month conveyancing process and the house almost falling through (classic). Planning permission has been submitted and we're starting to rip out the house, however living in a project that you're doing up is always tricky with logistics! After we bought the house, a house 4 doors down the road sold for £1.5m in cash to a famous...
👋 Hey friends Premier Property Lawyers are still being the biggest pain in the bum in our property sale. My buyers mortgage expires in 3 weeks and they keep raising endless menial enquiries at the last minute that keeps holding us back. I repeat my advice from the last newsletter - never ever use any of the conveyancing brands under the Simplify group. They're awful. In other news - the property market has took an incredible flip over the past few weeks, we really did not expect interest...