I’m on annual leave this week because I’m getting married!! So let me tell you about the wedding plan + how I feel the economy is looking property-wise!
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Here is the transcript!
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Natasha Collins: [00:00:00] Hello and welcome to the NC podcast! My name is Natasha Collins, and I am the founder of NC real estate which includes its members club for landlords and property investors to come and build a profitable property portfolio that completely aligns with their goals. And if you didn’t hear it last week
[00:00:22] We may be probably are opening soon, and you want to be on the waiting list. So what I want you to do is I want you to click on ncrealestatemembersclub.com link below, and I want you to sign up for the waiting list because if you’re on the waiting list, you will know first when the members Club is about to open and there may be some bonuses coming your way!
[00:00:47] So get excited about that. We are opening soon! Som this is a bit of a cheeky podcast should we say because actually at the time that this comes out, I am on annual leave (gasp) ‘Natasha’s on annual leave!!’ so I am taking time off between the 9th and the 16th of July. The reason being is because I’m getting married on the 13th of July, which is very exciting!
[00:01:20] It’s come around incredibly quickly. If you remember back my fiance is Chris who was on the podcast number of weeks ago now and yes, we’ve we got engaged last July and so it’s been a year in the making and we are getting married. So I thought I’d give you a little quick update on that because I have been asked so many questions and I wanted these people who tends to keep their personal life a little bit more private, but also because really I’ve been organizing the wedding is kind of like trying to make it as simple as possible. And so not really talking a huge amount about it has helped me to just keep it calm. I’m not stressed about it. Actually being quite simple, so let me tell you what’s going to happen because by the time this comes out it will have happened. I will be married which is exciting!
[00:02:21] I’m not nervous about this in the slightest. Actually. I’m very very excited. So we are getting married in Bath in the assembly rooms, and it’s a beautiful location, one I grew up in Bath and I would go to the assembly rooms and walk around be like wow, this is so stunning. So when I got in contact with them just on the off chance that they might have some availability on the 13th of July they were like, “Yeah sure you can have your wedding!” So that was pretty exciting.
[00:02:52] We’re actually getting married at 4 p.m. We’re having an late afternoon and evening wedding just because I like the idea of having an evening party. We’re going to have a buffet. Dinner think we’ve chosen a very chosen we’re gonna have hot dogs, we’re gonna have lamb cleft eco and we’ve got stuff Peppers. We’ve got loads of different salads. We’ve got a lot of cheesecake because cheesecake is one of my favorite things, going to be huge amounts of Prosecco, again Prosecco is one of my favorite things. And we have got we going to have a casino night and we’re going to have a band, and it’s going to be a lot of dancing and what I am hoping is just that we have the most fun experience with our friends and family and they all come and celebrate with us think we’ve got about a hundred people coming.
[00:03:44] Just before we get married, so the morning of the wedding, we’re going to have a family close family brunch, which will be nice as well. And the night before Chris books an evening of beer pong. And one of the local pubs were we just got anybody who’s coming to Bath on that day coming to celebrate with us
[00:04:03] So it’s like the most exciting weekend again has rolled around seriously quickly, but everything has been organized. I am not one for wanting like hundreds of flowers everywhere and decorations that I’m never going to use again. We’re not doing that, we have – my flowers are actually silk flowers so that I can take them with me around the world always thought that would be really nice. I’ve always been a silk flower fan because I can then change out my bouquets of flowers who might in my flat dust them off and I’ve got a brand new flower.
[00:04:42] That’s always be what I’ve done and the reason I started doing that is because, when I was working in London, one of my tenants was fake landscapes and he did the most beautiful flower bouquets and they were the same price as real flowers so I would just buy them and hold them and put them on my desk at work, and every week I’d kind of just switch them around and I’d have a drawer full of flower bouquets. I just dust off so I love that idea from the beginning and so that’s what we’ve got for the wedding. Chris’s aunty has very kindly making the cake for us very excited for that
[00:05:14] I think it’s white chocolate milk chocolate and vanilla sponge. So three tiers that will be delicious. I’ve already said to everybody “I need to make sure that I get a slice of that cake! So make sure that you wrap me up a slice first if I’m not immediately there. I want a slice from each and yes, I definitely will eat every single slice that I am given.”
[00:05:38] And that that is it. That’s our wedding. It’s just going to be a huge celebration. I’m so excited to see everybody. I’m excited that so many people have said yes, they’re coming from all over the world. We’ve got people from South Africa, we’ve got people from the US, coming over all over the UK people are traveling, which I’m so grateful for that they’ve taken the time out to come and spend that with us got people flying in from Europe. It’s going to be awesome. So I’m so excited. I’m sure you’ll see some pictures on social media.
[00:06:12] It’s not the sort of thing that I overshare on, but I will put it because I’m immensely proud of this dress that I found to where I was never one of these girls who dreamed of having this massive white wedding. It’s not necessarily been on my Horizon. I’m a bit of a – okay, well getting married is nice. I love the fact of joining. With someone else and creating this family, but it has never been something that I’ve dreamed about since I was really really really little it’s always been something that okay or happen when it happened never put any pressure on it whatsoever
[00:06:48] And then when it came to choosing a wedding dress, I thought “actually I want something really really simple”. I don’t want elaborate. Sparkles or whatever it is that you put on a wedding dress and I found it really hard to find a simple wedding dress, and just between you and I, I was thinking that it was going to be super cheap to find just a plain wedding dress… egh, that didn’t happen.
[00:07:11] But anyway, it’s gorgeous, and I was thinking to myself afterwards maybe I might be able to dye it and use it for a different event. But anyway, we’ll see how much I fall in love with it. I want to keep it white when I when I wear it. So that is it. That’s the wedding in a nutshell it’s very exciting. It’s coming around quickly. It’s hot it will have happened by the time that you’re listening to this. So again have a look at the photos, I hope you enjoy them, I hope that you’ve liked hearing about this because again, I’m always asked what’s going on. What’s happening for your wedding?
[00:07:50] Another question that I always get asked “Are you changing your surname? No, I’m staying Natasha Collins just because I’m so proud of my name. I’ve accomplished so much as Natasha Alice Collins and I love my name so much. So I will be staying Natasha Alice Collins which rightly or wrongly I know different people have their own opinions of it, but I’m very comfortable in that decision, and Chris is also very comfortable in that decision to it doesn’t make us any less of a family, the fact that we might not have the same surnames, we have always been incredibly close. We share absolutely everything else. So. From that respect, it doesn’t change anything. So we have it. That is our wedding. I hope you enjoy all the pictures that come out as that come along with that and normal service will definitely resume next week!
[00:08:49] But as I said, I am having a little bit of a break this week. Hem, and I’m sure it will go by so quickly and before I know it I’ll be back in the studio recording the next week’s podcast and be like wow that was over in a blink of an eye.
[00:09:06] Just before I finish up today. I wanted to tell you a little something about what I’ve seen in the UK property market and just wanted to give you my thoughts because I’ve seen a lot of other experts saying oh, we now might be going through a boom period in the property industry. We may be seeing these hugely flourishing things going to come out the property industry and watch this space because everything is going to be amazing, but I just want to have a little bit of a comment about the fact that.
[00:09:44] In the year from April to April this year house prices have risen by 1.4 percent which may not seem a lot and you can see it across the press that different newspapers are saying now the average it wage that you need to be on to buy an average house in the UK is 56,000 pounds. Woe is me. Some people are never going to be able to get on the housing market.
[00:10:09] Oh, my gosh can’t believe prices are rising again. It’s crazy. It really really is crazy and. I actually sit back and I think I’m going to put a really Rosy spin on this because I do not think that we are in a boom period but I also don’t think that house prices rising slightly and us having to earn household income of fifty six thousand pounds on average to get a home is that bad?
[00:10:35] And here’s the thing. I think we need to actually be basking in in the rosy economy that we’re in right now the fact that house prices. Gradually climbing as an average. I mean 1.4 percent is an average over pole of the UK, but it shows that there’s still a willingness to buy. And that willingness to buy and even increasing prices slightly shows that there’s still a healthy optimism for the property market.
[00:11:06] Now what we do not want is for a boom period to come in and all of a sudden the government’s say hold on a minute how wages aren’t increasing as much as house prices are we need to slow down house prices in which case we are going to be putting the interest rates. So that more expensive Finance means that people can’t afford to buy as much as they once were which of course if Finance is more expensive then the cost of property comes down because we can’t afford as much we do not want that to happen at the moment, and I know that a lot of.
[00:11:49] Jeremy Corbyn supporters would love that and he’s very much behind that rising interest rates to slow down her house price growth now is not the time to be doing that because with these small tiny increases that we’re seeing year on year in a mystery. It is a slow growth period if you were to then start raising interest rates.
[00:12:11] That would become very difficult for people to be able to stomach. But also if you raise interest rates as of just said you wouldn’t be able to afford to purchase a property at the current amount that it’s at and which case you’d be negotiating below that you’d be purchasing properties at below.
[00:12:35] What they’re valued at right now so that you can afford it in which case you are creating a new market comparable which is bringing down the value of other properties, which means if you’re bringing down the value of another property and say they’ve taken out a mortgage that is a ninety percent loan to value because their first time buyers or that’s what they can afford and all of a sudden that property has dropped in value.
[00:13:01] The next time they come to remortgage, they will find that there in negative equity and their lender will then go. Well, actually you owe us more than that property is worth hell. No, are we putting a new product on this and fix you fixing you in at a good interest rate? You just have to pay the variable rate that you have just gone on to or because it’s now a risky asset for the bank to have a charge over there.
[00:13:28] Just going to put these interest rates. Up. So what you could then find is that people are negative equity and paying interest rates of what seven eight nine percent. They’ll be then going well. I can’t afford this because what this is three times the amount I was paying before when I was on a three percent interest rate people then start defaulting and we go into recession because it is just a slippery slope.
[00:13:56] So the fact that at the moment interest rates are nicely low and property prices aren’t really rising at a huge amount. Although they are rising and that is the key thing. They are rising. We’re actually in a really really healthy housing market right now. And that’s nice. That is a nice place to be in.
[00:14:19] So I just want you to kind of bask in that because you know by the end of the year we’re going to be back in turmoil turmoil with brexit, but there’s summer we’re at a good place to be things aren’t really rocking right now. So if you can go out there and be negotiating a nice discount on a property that you buy next fantastic if you are looking at those longer term fixed rate products.
[00:14:45] Brilliant, see how long you can fix in for at these lower interest rates. And just be grateful for the time that we’re in right now. Things are actually okay. I know I know that we are being reported to every single day that there is this shortage of affordable housing. But actually, you know, what is also not horrendously difficult to get on the housing ladder in the UK If you think about a hundred thousand pound property.
[00:15:20] And you might need 10% deposit as a first-time buyer. That’s 10,000 pounds. And if you are trying to get on the housing ladder. You have to save something. You do have to save something to be able to get onto the housing ladder. You don’t just get given things for free if you want to buy a property you can’t.
[00:15:43] Put your hand up and be like, hey, give me a property over here. I deserve one don’t you do have to put a little bit of working to be able to afford a property? Like no one buys anything for free. It’s not like I walk into the shop and go. Hey, give me that milk that bread. I love that meat actually just give it to me, you know for free doesn’t happen.
[00:16:04] So as a first time buyer, you have to save something in order to be able to get on the property ladder. I don’t I don’t know where this crazy assumption is that we should have get everything for free. I really don’t like I still don’t understand how they don’t think the property investors still save up.
[00:16:22] There’s always a strategy behind how we’re going to get our next property. It does again. It doesn’t just I don’t just think you know what it’s about time. I bought another property. Property doesn’t happen like that. We still have to work towards it. So I don’t think it’s unfair that property prices are rising again.
[00:16:45] It shows a higher market and thing. Yes, you struggle to get on the housing ladder. But the minute you do get on the housing ladder. You’ll never thinking to yourself. Wow. I wish this Market was falling so that the other people could get on the housing ladder. No chance. Do you ever think like that?
[00:17:00] You think gosh, I hope this property Market continues to go up so that I make some money here. It’s like that is it so guys we are in. And quite a nice position right now. We are in quite a nice position. I repeat interest rates are pretty low house prices are moving slowly. So we’re making something on our money admittedly 1.4 percent isn’t isn’t amazing.
[00:17:25] But you know, it’s better than a kick in the teeth. So. Enjoy it. Enjoy the fact that there’s not that much Market volatility right now because you know as well as I do and you would be it wouldn’t be a wise decision to think that the end of the year is going to be calm because. Even though you think well, it’s not going to affect the residential housing market if we leave the EU just remember we have no trade deals in place right now.
[00:17:55] Well, we’re part of the World Trade Organization. Yes, we could trade with China in Asia. but just. Just think in October. We need to reset everything that’s going on in the UK. Overseas investors are already looking at pulling out of the UK and overseas investors. Hold a lot of the commercial stock.
[00:18:21] As well as that businesses are going well. If I need to bring to increase the cost of goods and I need to pay more for my goods. Does that mean that I can afford as much rent? Oh, no, maybe I can’t afford the rent or business rates anymore. Oh my God. I don’t know what’s going on. So you start seeing businesses then breaking some of their leases or even worse them just walking out on their leases, which means that commercial landlords aren’t getting rent or the rent is incredibly volatile.
[00:18:51] So they go I don’t want this anymore and they sell it on dirt cheap people pick it up or they don’t pick it up and we start getting empty High streets empty. Buildings buildings that are can’t the answer stainable will start to deteriorate if this doesn’t sort itself out. We’re in a pretty sticky mess and if there’s but if businesses are leaving that means that they’ll be less jobs, which means that people won’t be able to afford the rent that.
[00:19:22] They might once have so we need to be aware the fact that things could change and they could change for the worse. I mean, of course eventually they could be changed for the better, but uncertainty is always a bad time. so just be aware of the fact that we have got probably some turbulent times coming unless we decide not to leave the EU and everything kind of stays the way it is, although I would be shocked if our government decided that but you know, Whatever happens at the time happens be thankful that today at the time of you listening to this thing’s.
[00:19:57] All right, things are okay use the hat to your advantage because right now we’re in good times. So use the good things to propel your property portfolio forward. So I hope that’s a word of good times for this summer, and I’m sure. Things will change and I’ll let you know as a change. Of course.
[00:20:21] I’ve always got my ear to the ground. But today things are all right. So there we have it. That is today’s podcast my gosh. I’ll see you next week for another NC podcast and just remember while you’re here go and get yourself on the members Club waiting list because I promise you it’s not going to disappoint with the things that are coming out, right?
[00:20:47] That’s it for me today, have a lovely week and I will see you when I’m back next week!!
