98% Can't Afford to Buy! | Mortgage Market Update

98% Can't Afford to Buy! | Mortgage Market Update

Author: Phil Spencer: UK Property Expert December 3, 2025 Duration: 18:27
With interest rates shifting and affordability under pressure, this episode offers some perspective into why so many people still can’t get onto the property ladder and what’s changing in the mortgage world right now. Phil Spencer is joined by Charlotte Harrison, CEO of Homes at Skipton Building Society, to discuss the current market conditions, why demand from first-time buyers remains strong, and why research shows as many as 98% of young adults living with parents still struggle to afford the average first time buyer home in their local area. Chapters 00:00:00 Introduction 00:00:39 Current state of the mortgage market 00:02:00 Are interest rates historically normal? 00:02:47 The real cost of homeownership today 00:03:45 Skipton's Affordability Index explained 00:05:29 98% can't afford to buy in their local area 00:07:14 Innovative mortgage solutions from Skipton 00:09:11 Partnership with Move iQ for first-time buyers 00:10:29 How building societies differ from banks 00:13:14 Top tips for getting a mortgage today 00:14:28 Advice for existing mortgage holders 00:16:26 Future of interest rates and mortgage innovation 👉 SUBSCRIBE TO MOVE iQ YOUTUBE CHANNEL 🔗 https://www.youtube.com/c/MoveiQ 👉 GET PHIL SPENCER'S ADVICE DIRECT TO YOUR INBOX ✉ 🔗 https://www.moveiq.co.uk/newsletter-signup/ 👉 VISIT OUR MOVE iQ WEBSITE 💻 🔗 https://www.moveiq.co.uk/ ➤ CONNECT WITH MOVE iQ ON SOCIAL 📲 Instagram: https://www.instagram.com/moveiq/ Facebook: https://www.facebook.com/MoveiQ/ TikTok: https://www.tiktok.com/@philspencertv?lang=en

For over a quarter of a century, Phil Spencer has navigated the complexities of the UK property market, and he brings that wealth of experience directly to you. The Move iQ Podcast is a deep, practical resource that demystifies the entire process of buying, selling, and managing a home. Phil’s conversations go beyond simple tips, offering nuanced guidance on everything from deciphering market trends and negotiating offers to understanding the finer points of renovations and property investment. This isn't just theoretical advice; it's grounded, actionable insight designed to empower your decisions. You'll hear detailed discussions on financial planning, legal intricacies, and the often-overlooked emotional aspects of moving house. Whether you're taking your first tentative steps onto the property ladder or looking to strategically grow a portfolio, this podcast provides the clarity and confidence needed to navigate an often daunting landscape. Tune in for a straightforward, expert-led dialogue that treats property not just as a transaction, but as a fundamental part of your life journey. Each episode with Phil Spencer, a trusted UK property expert, is crafted to help you move forward with greater knowledge and assurance.
Author: Language: English Episodes: 100

Move iQ Podcast
Podcast Episodes
How To Get The Best Price for Your Home [not-audio_url] [/not-audio_url]

Duration: 7:46
In this episode, Phil shares how to approach pricing strategically in an unpredictable market, utilising the expertise of a Propertymark estate agent. Gain insights into negotiation flexibility, understanding buyer prior…
Thinking of Installing Wood Burning Stove? [not-audio_url] [/not-audio_url]

Duration: 3:48
In this episode, Phil highlights some key factors of installing wood-burning stoves, covering safety, regulations, and costs. Understand proper wood types, the importance of a carbon monoxide detector and why consulting…
What Not To Do Or Fix When Selling Your Property [not-audio_url] [/not-audio_url]

Duration: 5:10
In this episode, Phil looks at the renovations and fixes that are worth your time and investment before putting your house on the market. From understanding the balance between renovation costs and potential value increa…
Tenants, What Do You Do If Your Landlord Sells Up? [not-audio_url] [/not-audio_url]

Duration: 5:21
In this episode, Phil guides you through the challenging situation of a landlord selling up and its impact on the current tenant. Learn about your rights, the steps to take, and the options available to you as a tenant d…
Understanding 'Let Agreed' in the Rental Market [not-audio_url] [/not-audio_url]

Duration: 4:51
In this jargon busting episode, Phil explains what 'Let Agreed' means in renting, its implications for tenants and landlords, and the processes involved in securing a rental property. Tune in for Is 'Let Agreed' legally…
How To Negotiate The Price of The House You're Selling [not-audio_url] [/not-audio_url]

Duration: 7:09
In this episode, Phil delves into the art of negotiation in property sales. From selecting the right estate agent to understanding when to change agents, this video is packed with valuable insights for sellers. Tune in f…
The Pros & Cons of Mortgage Payment Holidays [not-audio_url] [/not-audio_url]

Duration: 4:25
In this episode, Phil discusses a mortgage holiday and who it's for, its financial implications, the impact of a mortgage holiday on your loan balance and future payments and the alternatives available. Tune in for Purpo…
The Local Authority Search In The Home-Buying Process [not-audio_url] [/not-audio_url]

Duration: 3:56
In this episode, Phil breaks down the local authority search process. Learn what this report entails, why it's essential in the conveyancing process, and how it can impact your home purchase. Tune in for Information in t…
First Home Scheme And Who It Caters For [not-audio_url] [/not-audio_url]

Duration: 4:50
In this episode, Phil breaks down the First Home Scheme, a government-backed initiative designed to help you get a foot on the property ladder. Discover how this scheme could turn your home-owning dream into a reality, d…

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