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 Learn AI, Cybersecurity, Data Science & more with Coursera. Ato has personally used Coursera to obtain an AI certificate. This is an affiliate link so if you purchase a course or sign up to the monthly or annual subscription, we will receive a small commission from Coursera, however there will be no additional charge to you. Learn on Coursera here: https://imp.i384100.net/savvywallet Follow me on: Instagram - https://www.instagram.com/savvywallet Tiktok - https://www.tiktok.com/@savvywallet Check out: https://www.youtube.com/savvywallet for the video version 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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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