EP. 106 -Mortgage Advisor: Don’t Buy A House In 2024 Unless…! ft. Dan Knott (Dan Does Mortgages)

Joining us in the booth this week is Dan Knott, a mortgage advisor who focuses on helping first time buyers get their first home.

In this episode we discuss:

• 2023 having the lowest first time buyers in 10 years
• The average age of a first time buyer in the UK
• The 4 questions you should ask yourself before buying property
• Where mortgage interest rates could go in 2024
• Should you overpay your mortgage?
• What to do if you're struggling with mortgage payments
• Why 5% mortgages might be suitable for you
• Benefits of the Lifetime ISA
• Getting property with bad credit and much more

Follow Dan on Instagram here

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Timestamps

00:00 - Preview

00:43 - Intro

01:19 - Meet Mortgage Advisor: Dan Knott

02:39 - Growing up in Sunderland

05:50 - Quitting Sports & buying my first home in 2018

07:53 - I became a mortgage advisor because of this…

10:27 - 1970: Property 3x salary. Today: Property is 9x salary

12:30 - 2023 had the lowest amount of first time buyers in 10 years

14:05 - Clients leaving London to afford property

16:05 - Explained: Fixed rate mortgage vs tracker rate mortgage

20:11 - Where rates could go in 2024

22:08 - Mortgage Advisor answers: should I buy a property in 2024?

25:56 - 4 questions to answer before buying property

29:24 - What should people look for in a mortgage advisor

31:30 - 2 year fixed vs 5 year fixed

33:53 - Should you overpay your mortgage?

39:29 - What to do if you’re struggling with mortgage payments

43:36 - Getting property with bad credit…!

47:33 - Mortgage Advisor: My thoughts on 5% deposits

52:07 - There’s not enough financial education for working class men…!

58:47 - Average age of a first time buyer

01:01:45 - This could help the property market

01:02:42 - The benefits of a Lifetime ISA

01:04:52 - Final words

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