Down valuations are on the rise - should it worry buyers and sellers?

In this episode, the hosts explore the increasing issue of down valuations in the UK housing market. Down valuations occur when a mortgage lender assesses the property at a lower value than the agreed purchase price, which can lead to complications in securing a mortgage or necessitate negotiations between buyers and sellers. There’s emerging evidence that valuers, especially in London and the Southeast, are becoming overly cautious, sometimes valuing properties without inspecting them in person.

The discussion shifts to the significant financial impact that school catchment areas have on home prices. Due to changes in VAT affecting private schools, more parents are likely to invest in house purchases that allow their children access to good state schools, often leading to considerable premiums on property prices near these schools. Statistics indicate that parents are willing to spend upwards of £75,000 to secure homes within these areas.

The podcast then tackles the subject of savings and how much individuals should ideally have saved at different life stages. While the traditional advice is to have three to six months of income saved, this may not apply equally across age groups, particularly for retirees who might require a savings cushion of one to three years' worth of expenses.

Finally, the episode wraps up with a discussion about the legality and ethics of surveillance cameras at supermarket self-checkouts. The hosts contemplate the balance between reducing theft and invasive monitoring of customers, questioning the necessity of such surveillance in grocery shopping.