Now, more than ever, every penny counts. With the Bank of England base rate hike from 0.25% to 0.5% last month, economists were surprised by the CPI measure of inflation that was higher than expected. Food, energy costs and clothing have risen, along with hotel and restaurant bills as the rate of inflation rose from 5.1% in November of last year.
That is enough of the bad news. As consumers, we can either hunker down and endure or we can try to find a way to make our money work smarter for us, and by that I don’t mean getting Greg Wise to go shopping with us.
Current savings sitting in our bank accounts produces negligible interest. Finder.Com says
“The average easy-access interest rate is currently 0.23% and the average UK citizen has savings of around £6,760. This means the average person saving would need to wait 16 months to purchase a £20 takeaway using interest they earn”
That really puts things into perspective, doesn’t it? So, what is the best and safest way to make your money work for you. Property has consistently shown that long term, you will achieve capital gain but more importantly right at the moment, landlords are achieving a significant passive income from their rental properties. Their return on investment (ROI) is way outstripping any rate you can get from a UK bank.
Not only is the average ROI in the UK now (according to Zoopla) is 3.63%, however, if you buy property in the right place, but the percentage of returns could also be much higher.
At Casita Properties, we focus our property search in the areas that will yield investors the greatest profit. We are currently achieving between 10%-12% ROI for our clients. It seems too good to be true doesn’t it – it isn’t!
Call or email and we can show you how your money can work for you and how you can thrive in the current financial climate.