By Jessica Macaulay
We kicked off to a busy PIP London room despite the tube strikes with Kul Mahey, a leadership and EQ Specialist who spoke to our members about emotional resilience. He outlined how the media often use fear to influence society and our decisions. He drew upon his extensive experience in the police force and within businesses to use a values-based decision-making process to avoid making the wrong decision when the property market waters are choppy. As they say ‘keep calm and carry on’, listen to experts, not the media and make evidence based decisions within your businesses. If you’d like to hear more about how to do this make sure you catch up on the PIP Vault.
Peter Vandervennin from The Mortgage Consultancy next spoke about the mortgage market. Variables mortgage rates are still looking interesting despite the recent interest rate rise and whilst rates are not where they were earlier in the year a more competitive marketplace is likely anticipated as application levels are clearly reducing.
John Cox from Insurance-Desk outlined the insurance and risk markets. John highlighted that they are seeing price increases and risks that would typically be deemed as simple not being placed. Suggested strategies included considering rent guarantees with tenancies given the challenging times coming up and making sure you’re getting regular valuations on your properties to ensure your risk is insured correctly.
Finally, we heard from our very own Adam Lawrence who provided his market price and rate predictions for 2023 (you’ll have to watch it back on The Vault, I’m not giving it all away here…). Adam outlined some of the market changes that we’ve experienced in recent weeks such as the auction catalogues receiving an avalanche of stock, a large percentage of which hasn’t sold. Adam also felt that the mortgage market would likely get more competitive in the coming months. Focusing on how best to succeed in this ever-changing market Adam provided various strategies, which included items such as when to fix, how to keep hold of your assets and ensuring there are multiple exits to name a few.
We finished the day with our round table discussions to support our members with their property challenges and an evening of drinks and discussions in the bar.
Next month is PIP London’s Christmas party on Thursday 8th of December, we hope you can join us. If you’re thinking of joining, please visit the link here and opt for London membership.
See you in December.
Jess & Des