I was talking to somebody recently who told me that the way that I invest in property doesn’t work anymore because the banks aren’t lending.
I don’t think he really meant that the bank aren’t lending anything at all, but what he really meant was the banks weren’t lending in a way which would let me do investing the way that I like to do it.
Now I have to say that this was something of a surprise to me because I haven’t noticed that the banks aren’t lending , nor have I noticed that the way that I invest doesn’t work.
And it reminded me of the importance of mindset.
He was convinced that the property market is going to crash imminently, hence why the banks in his world weren’t lending.
From what he said, I assume he was so convinced of this “truth” that he hasn’t even tried to borrow from a bank for some considerable time.
I guess in the scheme of things my outlook is rather more optimistic than his.
It reminded me that if you think that everything is bad and nothing works, the reality is that nothing is going to work for you.
But if on the other hand you’re slightly more optimistic, and by that I don’t mean that you have to be delusional, and you think that there will be opportunities, then you will find opportunities.
In other words, our mindset is so important, and influences the way we see the world, and determines what is “true” to us.
Anyway, the reason why I say all of this is that when I next spoke to my mortgage broker, I mentioned that I had been talking to this particular person who had told me, quite categorically, that the banks aren’t lending.
To say that my mortgage broker was surprised is an understatement.
In his words, “lenders are still keen on lending”.
He also thinks that many more lenders are likely to reduce their rates over the next weeks and months.
In other words, this is a good time to be borrowing.
I’ll tell you in the video what my broker’s favourite buy to let mortgage product is at the moment. It’s only a couple of minutes long so please have a watch.
I just hope that you find this reminder that the banks are open and ready for business helpful, and if you’re still sitting on the fence wondering whether you should progress in property at the moment, this might help you to make a decision.
If you’d like me to introduce you to my ‘very good’ mortgage lender to discuss your finance needs please email me:
And I’ll put you in touch.
Here’s to Successful Property Investing.
(ex) Chartered Surveyor, author and property investor
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to: