After watching this video, I realise how ridiculous it was for me to include the pence in the figures discussed! In all future videos I will round figures to at least the nearest pound!
Super informative as always - thank you! I'm planning on using the scheme myself this year in London. I notice that whenever you talk about the HTB Loan you reference interest payments after the 5 years as a massive consideration. While I agree, I think the plan for a lot of us would be to sell/re-mortgage in order pay back the loan so we never have to pay the interest. Would love for you to make another video on 'Paying back your Help to Buy Loan'. It would also be amazing if you could interview people who have experience in this like you did with your Shared Ownership series. Keep up the good work! Really enjoyed this vid.
Thank you, Louise 🙏🏿 I’ve got an interview in the works with someone that used the Help to Buy scheme. I’m hoping to get them on soon! I’ve done a video on how to pay back the loan ( ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Qz-q8KdrZHg.html ) and another looking at the long term costs ( ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-RR9liErWtmI.html ) Paying back the Help to Buy loan would be similar to staircasing to 100% with Shared Ownership, this video explains why it can be so difficult: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-fhwQrKW8Ux8.html Have you seen those videos? I’ll look at doing one with examples for Help to Buy as well...
Hi, I've watched a few of your videos and others out there but still confused. Is it better to overpay quickly with the prior low interest rates or is it better to save at the current higher interest rates and have a larger deposit as its just my income when it comes to the remortgage in 5 years? Lots has changed since I purchased last December and I can't work it out. Please help 🙏 thanks
Kind of related, but would you recommend having a deposit in the bank before talking to a mortgage broker/advisor? Or can you approach them to get an idea of what kind of deal I would be looking at? Thanks!
No, I would approach a mortgage adviser as soon as I planned to buy a home, even if I didn’t have a deposit. I think it’s good to get an idea of what you could afford, what you need to do, etc. You can usually speak to one for free. I interviewed the one I used, here’s the video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-wRz_1S9MAUY.html His details are in the description of that video 😉
Awesome video as per usual. I know you've touched on the fire safety bill in the past, but could you make a full video on this topic please as I feel it could affect many of us viewers. Thanks for the great content.
Thank you! I’ll definitely try to cover it in another video. I don’t feel as though I have the clearest grip on the situation, but will try and bring myself fully up to speed and make that video!
Thanks for your ever informative videos . Please can you do a video on paying back help to buy equity loan or buying out the help to buy so that you own 100 percent of your home.thanks
You're welcome! I'm glad you found it useful... I've done two videos which might answer your question, here: 1) ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-RR9liErWtmI.html 2) ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-Qz-q8KdrZHg.html Have a watch and let me know if they do :)
The most straightforward :/ ... the Lifetime or Help to Buy ISA probably... The most generous is the Right to Buy scheme... other than that, irrespective of scheme, I would try to buy a house, they tend to be more straightforward than flats...
Another great informative video -Many thanks. What do you suggest if you were to buy a new build property (a typical leasehold flat I'd imagine) in London with HTB loan of 40% (even with a premium of 25%) and try to sell at the end of the fifth year to pay off the HTB by remortgaging? Would that new build property be making a loss (negative equity) or break even (or better slightly) - perhaps you may do a video on that for us. Cheers!
Thank you, Dr! Have you seen this video? ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-RR9liErWtmI.html I think it might answer your question... Let me know if it does...
@@SelfInvested Yes, I watched that video - also left a comment sometime back, thanks. I kind of forgotten that video. What's your thoughts on the service charges and the ground rent that come along with those leasehold flats? I guess that increases over the time gradually and does that affect the saleability of a property or this is something that everyone is aware of so not too much to contemplate? Cheers.
Ideally, with service charge I would like to see that the residents have management of the building or employ the company that does the managing, rather than the freeholder. This should give leaseholders more control of costs. I would avoid buildings with high service charge costs - especially those with expensive features like concierges services, gyms, etc. Also, I would like to buy a flat in a building with a sizeable sinking fund, so I’m not hit in the pocket if any building works are required. With ground rent, ideally, I’d go for a flat without any ground rent (these are usually flats that have had their lease extended by 90 years through the statutory route). If there was ground rent, I wouldn’t go for any flat where it is high and/or increases for more frequently than every 25/30 years... Ground rent - the amount it is and how it increases will impact the saleability of a flat. I cover this partially in this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-B-GZhQ0P48w.html Have you seen it?
Lol! What @SisterGee1 said! I liked the look after wearing it in a video, so just continued with it... One less thing to think about! Do you want me to switch it up?
@@SelfInvested we like you the way you are , IT JUST WHEN I SAW THE NOTIFICATION WITH THE SAME T-shirt Then the question flipped into my mind ??????!!!!! IF IT IS YOUR TRADE MARK KEEP IT Up , THE MESSAGE IS MORE IMPORTANT.
Thanks again for another informative video!! I don’t suppose you’ll possibly do a video for home movers (second time buyers) by any chance? Like how the mortgage amounts can differ/easier/harder to get? Especially going from a shared ownership to private 🥸
No problem, Ricky! 👊🏿 I’ll get there! I’m just working my way through a list of topics I had. You can add me on IG for a quick chat if you have any specific questions (@SelfInvested_UK)...
Thanks for the great information. But I assumed from 1st April 2021, the HTB loan allows us to purchase old and new properties. And it’s also not limited to first time buyers. Is this correct?
You’re welcome! Thank you for watching👍🏿 No, it’s only for new builds and first-time buyers... You can watch this video to find out more: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-eWV8LtRfWsY.html
It’s difficult to say... Depends on your deposit, the size of the H2B loan you get, the length of initial mortgage deal and type of mortgage... I would expect the rate to be low, though. However, H2B mortgage rates tend to not be as low as mortgages without H2B (if the LTVs are the same). What interest rate were you quoted and what was the LTV?
For a 5-year fixed with H2B, that looks reasonable (although, I’m not a mortgage broker!). The cheapest non-H2B 5-year fixed rate mortgage with 75% LTV I could see on MSE was 1.54%... so that offer seems reasonable considering it’s with a H2B loan...
