Can Labour Really Bring Down Mortgage Rates?

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Can Labour Really Bring Down Mortgage Rates?
Can the Labour Party deliver on its promise to reduce mortgage rates? In this video, we analyse the current political landscape and Labour's proposed policies to see if they can truly impact mortgage rates. Join us as we delve into the details, explore expert opinions, and discuss what this could mean for homeowners and prospective buyers. Don't forget to like, subscribe, and hit the bell icon for more insightful political and financial analysis!
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Опубликовано:

6 сен 2024

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Комментарии : 51

@matthewgrainger3658 Месяц назад

I think if labour pay out for pay rises for doctors , train drives , nurses , then inflation will rise and interest rates will go up , you could be looking at 6% base rate by june 2025 !

@SlackHoffman Месяц назад

Labour will be out before the 5 years IMO ……they’ll screw the UK good I think 💭

@Steve.Brennan Месяц назад

Bitter Tory boy.

@drewhodge3820 Месяц назад

At least 6 percent under Labour because they always over spend, which increases the national debt.

@propertyaccelerator Месяц назад

👍

@drewhodge3820 Месяц назад

The Bank of England can't be swayed by political parties. If interest rates go down it's because of inflation going down to 2%. Nothing to do with the Labour party. Interest rates are set from inflation figures which are collected from 6 months previously.

@propertyaccelerator Месяц назад

Officially they cant be swayed correct.

@johnrobertson2110 Месяц назад

My current 3 year fixed ratel runs until October, last week i renewed with nationwide, went from 1.29% to 4.79% i fixed for another 3 years, ill be keeping an eye on what happens until October

@propertyaccelerator Месяц назад

🙏

@PabloTBrave Месяц назад

Unless Labour fundermentally changes the way the BoE operates like it did in 1998, there is very little labour can do to effect rates. 7% mortgage rates are not crazy high ,The last 15 years base rates been crazy low, and it shouldnt have been . We are currently at around the 300 year base rate average of around 5%, the BoE base rate has been is the 20% range . It will probably drop to 3.5 % but no lower, 0.5% base rates are not coming back, too low a base rate has very negative side effects .

@propertyaccelerator Месяц назад

More it their policies to keep inflation low.

@stephenfaulder1747 Месяц назад

Your first sentence is correct. However, 7% interest rates were fine in the 80s, when house prices were a much smaller proportion of average income. Today, following a period of excessively low interest rates pre-Pandemic and excessive immigration, house prices are prohibitively high for most young people and the unnecessarily high interest rates of 7% are crippling the few who did manage to get on the property ladder.

@PabloTBrave Месяц назад

@@stephenfaulder1747backwards. house prices have risen partly due to the low interest rates, the low interest rates also make it far harder for people to get a deposit together. The 4.8 million house deficit and several other reasons also aren't helping

@PabloTBrave Месяц назад

@@stephenfaulder1747 1980s try up until 2009. I got my first mortgage around then and with a 70% LTV it was still 7.9%. low interest rates in one of the causes of house price rises and also hinders people saving for a deposit . I would have bought my house sooner but I kept getting outbid by developers/landlords

@lukeforbes3304 Месяц назад

Do you think they will cut the rates on August 1st? I've seen a few members say it's too soon. Madness

@propertyaccelerator Месяц назад

Its so close I think its still 50/50

@mattanderson6672 Месяц назад

Thank you Sir!

@propertyaccelerator Месяц назад

👍

@nightwing369 Месяц назад

Hi, James Nicholson!

@propertyaccelerator Месяц назад

Hey Nightwing

@Balders87 Месяц назад

If labour bring in the proposed capital gains on your main property that’s just going to push up asking prices to cover the cost, therefore reducing affordability for lots of buyers leading to banks not being able to lend money. In my opinion.

@propertyaccelerator Месяц назад

👍

@petermcalister72 Месяц назад

I dont remember Labour promising to bring down interest rates, are you sure about that? I do remember avoiding any kind of promise or detail for that matter. Doesn't make sense given BoE is indepedant. ps. to answer your question at the end, perhaps regulating, increasing the role of HIPs and forcing sellers to be seller ready and buyers likewise will take the time wasters out of the market, increases house movement liquidity. Couple this increased house price transparency to counter the negative impact of surveys from Rightmove et al.

@propertyaccelerator Месяц назад

Its on their site - labour.org.uk/updates/stories/labour-party-homes-policy-how-we-will-keep-mortgage-rates-low-and-help-first-time-buyers-with-a-new-freedom-to-buy-scheme/

@Balders87 Месяц назад

Inflation usually goes up when labour are in power , labour getting in whilst inflation is still on the high side isn’t great , conservatives wernt doing a great job however given the current economic situation we could be going from the frying pan and into the fire

@propertyaccelerator Месяц назад

👍

@videogenie1236 Месяц назад

What labour could do to reduce mortgages is to re-introduce the MIRAS system.

@propertyaccelerator Месяц назад

Great point

@SlackHoffman Месяц назад

Great Video James 🏆🔔🔨✨💪😄😎✨hit that bell 🔔🔨smash 💥that like 👍

@propertyaccelerator Месяц назад

Thanks so much

@lucacivalentin3909 Месяц назад

Of course they whnt to keep the free money coming in....

@propertyaccelerator Месяц назад

👍

@scienceevolves4417 Месяц назад

Can they?😂😂😂😂 Little did we know liebour party has taken over from the bank of england😂😂😂

@propertyaccelerator Месяц назад

They can have policies to push down inflation. For example cutting VAT, or pressure on Energy companies to not make excessive profits which has been done in other countries.

@scienceevolves4417 Месяц назад

@@propertyaccelerator fair enough mate, I see what you mean. But does anybody really believe liebour will prove to be a party of lower taxation? 😄 Also, inflation can't really be changed (because everyone has got their own inflation rate), but yes, they can try and manipulate the CPI or CPLie as some would say, for example by manipulating the basket of goods or setting up maximum prices for stuff.

@propertyaccelerator Месяц назад

Read MORE about it on our blog: propertywealthinsider.co.uk/is-labours-plan-to-lower-mortgage-rates-feasible/