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The Property Podcast
ASK442: How do I use the 18 year cycle when remortgaging? Is now the time to buy my freehold?
Aug 20, 2024
Phillip seeks insights into how the 18-year property cycle should shape his mortgage and portfolio strategy. The hosts explain the significance of personal circumstances over cyclical predictions. Meanwhile, James is intrigued by the plummeting price of his leasehold from £185K to £30K. They discuss potential legal changes affecting ground rent and explore why his landlord might be eager to sell. Tune in for expert advice on navigating these property dilemmas!
07:11
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Quick takeaways
- Personal financial circumstances should guide mortgage decisions rather than solely relying on the 18-year property cycle predictions.
- Significant discounts for leaseholds are driven by legal concerns affecting ground rent values, encouraging freeholders to sell quickly before potential losses.
Deep dives
Mortgage Strategy and the Property Cycle
The discussion emphasizes that personal financial circumstances should guide mortgage choices rather than predictions based on market cycles, specifically the 18-year property cycle. The advice points out that the current mortgage market favors five-year fixed rates due to lower fees compared to two-year options, which have higher costs despite lower initial rates. Potential buyers are encouraged to focus on available mortgage products that suit their situations rather than attempting to time the market. It's explained that a downturn in property prices typically follows a boom, and refinancing during a market correction should be manageable as property values generally recover over time.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode