UK Mortgage Expert: The Key Things You Need To Know

My mortgage was 102%. "Bank of Mam and Dad still has a lot of money to distribute down." In what world?

Thats a dream that salary in london are higher than other parts of the UK that’s lie not everyone or should I say only 25% gets higher salary others are still on low income in london

Default 5/6 years ago still affects you ?

I get the feeling he doesn’t know what self employed means.

New listener, fantastic podcast. Asked on point questions, but also shut up and let the guy speak, really informative, well played. Subscribed

4.07% from tide is ok, I can beat that in accounts we provide for businesses.

So the guy who's a mortgage broker says the 1st thing you need to do is find a mortgage broker. I'm shocked. All the information is there if you want to DIY, you do not NEED a mortgage broker if you're prepared to do some research.

This was so useful!

Myself and my girlfriend bought our house 5 years ago for 218k . We put 5% down and now have 88k left on it on a 1.1% fixed rate until 2027. We will easily pay the whole house off and have the remaining money invested ready.

We were offered at the time a loan up to 410k. It we wanted to live below our means as we were literally buying a house with such little interest. Best thing we ever did.

What is still a mystery to me is what's best in this scenario: You are remortgaging with the same lender after your current fixed rate period ends, should you go with their valuation of your property [residential in this case] or pay for an official valuation?.

the value of your house affects how much your lender is going to lend you. Traditionally, they always UNDER value your property by a huuuuuuge mile, I think we got shafted by our current lender because we accepted their valuation of our property.

Was this recorded before the budget? no one is talking about mortage rates dropping with the likely post budget interest rates the banks will have to pay to finance their mortage businesses?

Amazing video very informative thankyou new subscriber

Supply and demand there are more homes for sale today then ever b4 houses market is screwed I understand this guest whole business is riding on the housing market and when prices go up his job is easy. please don't over pay!

As a dual citizen and owner the US products are better. A two year term correlates with changing a car. Not changing where you live. The UK lending model is essentially greedier and relies on less financially literate buyers.

I keep hearing 'interest rates are moving downwards' in this video.

Yeah, they have. Is it really likely that they're going to go much lower? No.

Is there plenty of reason (e.g. inflation rising, Labour's policies over the next 5 years and the state of the economy generally, the obvious impact of Trump doing even half of what he says he will....) to think that they may begin to rise again fairly soon.

The things that boils my piss about mortgage is the bank agree to lend money, you spend it, then 5 years later they want to review the interest on the money they’ve already lent and you’ve spent. The initial rate should be for the lifetime of the mortgage. If rates go down, then remortgage and pay off the original mortgage.

Haha we used one of his broker before and he was brilliant! Completely came across this company by random by googling. No recommendation what so ever and the broker was one of the best brokers we have used.

If only you were taught financial literacy at school eh?

Credit scores
Interest rates
Credit cards
Loans
Mortgages
Pensions

If only you were taught financial literacy at school eh?

Credit scores
Interest rates
Credit cards
Loans
Mortgages
Pensions

"Mortage rates going down instead of up".
Damn that didnt take long to age poorly.

This is the type of video that should be taught in schools

Misleading answers to the question about 30-year fixes in the UK. Perenna offers fixed rates for up to 40 years with only 5 years early repayment charge. They also offer porting the mortgage and generally encourage to remortgage if the rate favours the consumer. Brokers advise consumers to take 2-year fixes because they get paid every time they arrange a mortgage. But look at the situation that advice has created for consumers over the past couple of years with massive rate cost increases. Most people are better off opting for protection against rate risk than selecting the cheapest short-term rates.

You can't even get a viewing without a mortgage in principle. I don't understand how anyone could go into this without the finance first. I've never met anyone in this group and I don't know how you could enter it.

This episodes is FULL of gems, thankyou!

Brilliant guest, enjoyed that .

My Dad in Florida had a 30yr fixed rate at 2% 😊.

I got charged a flipping fee and didn't even take the mortgage out shocking

Will house prices fall in London?

Insightful...thank you. The guest has a very familiar accent (south africanish, with a hint of kiwi in there) or its a different UK accent altogether. Im not British so im still learning.

Credit score makes sense when you have credit. What is utter BS is when you didn't need to use Credit Cards ever, and still have a bad credit score.

Interest only put the rest in the pension it's a no brainer

Would be great to hear more about the pros and cons of shared ownership & other schemes on new build properties for first time buyers.

Hate people who make offers and can’t get finance. So frustrating.

Not easy to come by a good mortgage broker

Or, just use one of the comparison websites and avoid paying these guys a fee. Mortgage providers don't offer exclusive products for Advisors these days, you can get what they can get. Just do your research.

My broker is specific (doesn’t use vague language like ‘bits & pieces’) he’s fast and can deal with more complex scenarios. I work for a big bank, they wouldn’t touch me with a barge pole😮

Probably the best guest you’ve had on in a long time

People look at a mortgage with a "forever" mindset. You can switch from repayment to interest-only every 5 years, and even with interest-only you can usually pay up to 10% of the capital down with any spare cash you have.

I had an offset mortgage 8 years ago, through Coventry bs. It was brilliant for me being self employed. They don't seem very common for some reason.

The 30y mortgage provider is called Perenna

99% mortgage, borrowing 495k. That's over 2k a month just in interest

Brilliant and informative discussion, thanks guys!! Love the content.

Dont go to a mortgage broker kids. Its really not difficult to find a mortgage yourself. Easier in my experience.

Banks just look at the stats between defaults for employees and self employed. Self employed default a lot more.

Yep. Seems nuts but i have overpayed tax on purpose to make my income look as high as possible.

These are the videos everyone needs!