HOW TO BUY A HOUSE: First Time Home Buyer UK 2024! (step-by-step)

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HOW TO BUY A HOUSE: First Time Home Buyer UK (step-by-step) for 2024! Learn our 14-step COMPLETE BUYING PROCESS! Understand Mortgages, find your ideal home, saving for a Deposit, buying options (Lifetime ISA, Help To Buy), Legals, Conveyancing, Surveys, etc. EVERYTHING YOU NEED TO KNOW!! 😀
★★ TIME STAMPS (14 steps) ★★
0:00 - intro
01:50 - Hustle, Budget and Save for a property deposit
03:25 - Figure out how much mortgage money you can borrow
03:56 - Start researching your ideal location, location, location!
06:52 - Get a mortgage agreement in principle
07:29 - Get to know local estate agents
08:04 - View properties online and in person
09:45 - Make an offer on your ideal property
11:32 - Get a good mortgage deal
15:14 - Find a property solicitor (conveyancing)
16:43 - Get a proper house survey
17:50 - Arrange Removals (Man + Van) -
18:53 - Get Buildings and contents insurance -
19:59 - Exchange of Contracts -
20:42 - Complete on purchase and Get Keys!! -
★★ WHAT TO WATCH NEXT ★★
How We SAVE 60% Of Our Income For Financial Independence UK - • How We SAVE 60% of Our...
9 QUALITIES YOU NEED TO REACH FINANCIAL INDEPENDENCE - • 9 QUALITIES YOU NEED T...
How We Live Well On A £50 FOOD BUDGET (Family of 4) - • How We Live Well On A ...
Our 8 Stages Of Financial Independence & Abundance UK - • Our 8 STAGES To FINANC...
WHY MOST PEOPLE REMAIN POOR - • 10 Reasons Why Most Pe...
How We PAID OFF Our Mortgage In 7 Years - • How We PAID OFF Our MO...
How Much Money You Should Have Saved By Aged - • How Much Money You Sho...
YOUR FIRST PASSIVE INCOME - • How To Make YOUR FIRST...
★★ WHAT TO READ NEXT ★★
10 Thing I Did Differently To Become Financially Independent - thehumblepenny.com/10-things-...
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★★ ABOUT US ★★
We became Financially Independent aged 34 and our story has been featured on the BBC, Mail Online, Channel 5, Metro, etc.
We share content to inspire and teach others how to achieve Financial Independence and Freedom too 😊
MARY:
I'm married to Ken and we have two boys aged 6 and 4. I'm a Londoner, born in Hackney! 😎
Day to day, I run the operations of The Humble Penny as a creative - doing everything from marketing to video editing. I studied Multi-media design and technology at Uni.
When I'm not creating, I love vegan food, travelling, working out and doing some outdoor fun things with my husband and kids :)
KEN:
I'm a husband, dad, and a First-Generation Immigrant to the UK. I started life poor in the UK and I've spent the last 20 years on a steep journey of Personal Development.
CFO by day with over 12 years experience in the investment business. I'm also a Chartered Accountant and hold an MBA from Cambridge University.
To explore my creativity, I'm a blogger and RU-vidr by night. I create from my experiences as a family man and entrepreneur.
I have a passion for all things Financial Education, Business and Personal Development. I also love Photography, Music, Travel, and Sport.
★★ WANNA CONNECT? ★★
Blog - thehumblepenny.com
Insta - / thehumblepenny
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Twitter - / thehumblepenny
Facebook - / thehumblepenny
Email - RU-vid@thehumblepenny.com
★★ OUR MEMBERSHIP PROGRAMME ★★
From 2020, we're helping 10,000 Families achieve Financial Independence in 10 Years. Join Our Mission here:
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★★ About this video ★★
how to buy a house,buying a house,steps to buy a house,steps to buying a home,buying a home,home buying,how to buy a home,home buying process,home buying tips,tips for buying a home,steps to purchasing a home,house buying steps,what do i need to know to buy a home,what is the process when buying a new home,how does buying a house work,buy a house,home buying tips 2020,advice for buying a home, the humble penny
Massive thanks for watching and following our channel 😊💛
Best, Mary and Ken Okoroafor
NOTE: For FULL Transparency, some links above may be Affiliate Links. We do NOT offer Financial Advice. Always do your own personal research.
#homebuying #firsttimebuyer #property

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Опубликовано:

29 июл 2024

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Комментарии : 198

@TheHumblePenny 3 года назад

Hey Dreamers, where are you on your property ownership journey? Do you already own a house? or saving for your first ever property? Please share below 😀

@mojisolaadeniji5676 3 года назад

Thanks Ken...your videos are so helpful... Can you do a video on Bitcoin/ Cyrptocurrency... I hear Paypal is now dealing in Crptocurrency

@shayolola 3 года назад

Her skin is beautiful 😍 she’s pretty

@TheHumblePenny 3 года назад

😍 thank you 🙏🏽. There i was thinking I needed a better skin care regime 😊

@amayaraymond4486 3 года назад

I'm planning on buying a house next year. This video is for me

@TheHumblePenny 3 года назад

Perfect!! :). Where are you hoping to buy?

@amayaraymond4486 3 года назад

I'm in Birmingham x

@TheHumblePenny 3 года назад

@@amayaraymond4486 nice! We like Birmingham!

@onikaottley4344 3 года назад

Thank you for explaining!

@TIMAYYY88 3 года назад

The timing of this vid is great and was very informative. Looking to buy my first property next summer 🙏🏿

@ngabusiimane6969 2 года назад

I recently discovered your channel and have been bingewatching your videos. Wishing you another successful year

@simrannarmis5328 3 года назад

Always looking forward to your videos, thank you for the detailed video it really helped. You guys also look lovely together 😊

@tracylandu 3 года назад

This is a perfect break down! Thank you

@TheHumblePenny 3 года назад

Glad it was helpful! Thanks for watching :)

@sarahn8710 3 года назад

This video was veryhelpful!

@jormencar 3 года назад

love you guys. Thanks a lot!

@TheHumblePenny 3 года назад

Much

@barbarak1545 3 года назад

Great advice thank you

@Samuels691 3 года назад

Thanks for this! So helpful

@TheHumblePenny 3 года назад

You're most welcome :)

@MillennialonFIRE 3 года назад

Great video! You explained this process so well! Very helpful!

@TheHumblePenny 3 года назад

Much appreciated :). Thank you for watching.

@shanaceII 3 года назад

Currently saving for my first property (27). My plan is buy to rent out and hopefully get a next one. I'm new to this so the vids helpful and easy to follow 👍🏿

@johnalabi3883 3 года назад

Man like Ken and his lovely wife. God bless you both. :)

@TheHumblePenny 3 года назад

God bless 😊🙏🏽

@annabellebatchelor476 3 года назад

This is awesome thanks so much! We're hoping to buy next year

@TheHumblePenny 3 года назад

Amazing! Any particular area?

@Sy-hd2xl 2 года назад

thanks for this video guys, i had to watch a few before i got to yours and now understand it easily enough

@TheHumblePenny 2 года назад

Great 👍🏽

@obeyjesuswords.7150 3 года назад

Keep up the good work ken and mary.

@TheHumblePenny 3 года назад

Much appreciated :)

@juliagardner1383 3 года назад

Love the time stamps thanks!!

@TheHumblePenny 3 года назад

Yay!! We'll add this to new videos and gradually to older ones 😀

@IGM_Dex 3 года назад

The time stamps are great. Like a table of content. Really great value guys.

@BlessedPetrel 3 года назад

Great content as always. I didn't get a mortgage broker as I wanted to do most things myself so I remember these stages really well. That was 3 years ago. Ive just shared this video of yours to my friends who's planning to buy their first homes this year. God bless.

@damechipo Год назад

I love you guys!!!

@TheHumblePenny Год назад

Love you too! 😊

@kenaddoh4693 3 года назад

Great advice! 😊👍🏾❤️

@TheHumblePenny 3 года назад

Thanks, Ken! :)

@LaStellaIa 3 года назад

Thank you for your wonderful videos, very informative :)

@TheHumblePenny 3 года назад

Glad you like them! Thanks for watching :)

@muk9463 3 года назад

Amazing stuff

@Thevanessaglow 3 года назад

Great video! Thanks

@TheHumblePenny 3 года назад

Glad you liked it! :)

@nelly6202 3 года назад

New subscriber here looking to buy my first home. Thank you for explaining the steps clearly!

@TheHumblePenny 3 года назад

You're most welcome 😊

@gw8755 3 года назад

Good Stuff! Thank you.

@TheHumblePenny 3 года назад

Much appreciated! 😊

@ASeSkater 2 месяца назад

Thanks for this great video!

@TheHumblePenny 2 месяца назад

You're welcome 😊

@carltongregory3556 3 года назад

Great video, the last time I moved was almost 15 years ago and I am now looking to move again soon, so this was refreshing.

@TheHumblePenny 3 года назад

Fab! Thanks for watching :). All the best with a move soon 😊

@viewreviewwithrs9868 3 года назад

Love your channel ❤️

@TheHumblePenny 3 года назад

Much love, Ash 💛

@deannablake7522 3 года назад

Beautiful couple! I love your videos and your personalities ❤️

@TheHumblePenny 3 года назад

😍

@DaryllSNeita 11 месяцев назад

Really helpful video guys :)

@TheHumblePenny 11 месяцев назад

Glad it was helpful! Kindly share with others

@AM-wm3si Год назад

Thank you guys. The video is vey helpful

@TheHumblePenny Год назад

You're welcome 😊

@chrisa5322 3 года назад

Great video!

@TheHumblePenny 3 года назад

Thank you 🙏🏽

@KellyJoyceTv Год назад

Thanks for sharing ❤

@TheHumblePenny Год назад

You're welcome 😊

@stephendahl8079 3 года назад

Great stuff as always :-)

@TheHumblePenny 3 года назад

😊🙏🏽. Thanks so much, Stephen!

@josephwalker6879 2 года назад

Thank you !

@IGM_Dex 3 года назад

VISA status also affects the Mortgage rate as it is higher for non-British citizens and lender options are fewer. Once ILR is attained, you definitely get a lower rate.

@TheHumblePenny 3 года назад

This is a BRILLIANT point. Thanks so much for sharing 😊. Isn't it interesting that lenders in effect discriminate in this way too? 🤔

@IGM_Dex 3 года назад

@@TheHumblePenny Totally agree. But it is a small hurdle that people should overcome 🤗

@Opastic 3 года назад

Very interesting point I have been asking about visa if it does affect mortgage application not alot of ppl know about it. But thanks for highlighting this point...

@rachaelo3882 3 года назад

'In all things be thankful and see joy' 🤗👌 Great video as always y'all

@TheHumblePenny 3 года назад

Yay! You spotted it. This is our motto up in here :) "In all things, be thankful and seek joy"

@rachaelo3882 3 года назад

@@TheHumblePenny love it 👌

@hotsashno1 3 года назад

Really enjoying your videos... We are in the middle of buying a property so this is great to watch and see what is coming up next. Also it's made us think about getting a survey on the flat (I wasn't planning to) :) Thanks again.

@TheHumblePenny 3 года назад

Wonderful! 😊

@motivationmel8790 3 года назад

Great video👍

@TheHumblePenny 3 года назад

Glad you enjoyed it :)

@TheBabu200 6 месяцев назад

Very useful thanks so much .

@TheHumblePenny 6 месяцев назад

You're so welcome 🙏🏾

@natchasolutions8908 3 года назад

Great video

@TheHumblePenny 3 года назад

Glad you enjoyed it! :)

@MrOnline14._ 3 года назад

Amazing vid

@TheHumblePenny 3 года назад

Thank you!! :)

@cheesywafflecake09 3 года назад

Great video! I wish this had come out before we went for our first home. One thing I cannot find anywhere is how you would go about upscaling to a larger property, my partner and I love the house we're in but only see it as a house that will last around 5 years before we upgrade to our forever home. I'm struggling to find resources online on what that process is like

@josephinesokan9901 3 года назад

This video 🙌🏿

@shahilagh 3 года назад

Very nice work between two of you .... I wish you were covering how to choose insurance ...i m doing all myself and It is not easy ... it is also helpful to talk about how to plan for making important improvements to the house ? Before collection day ? After?

@AzeemUrRehman 3 года назад

Already subscribed and love your content

@TheHumblePenny 3 года назад

😊🙏🏽

@ScriptedHearts 3 года назад

I'm planning to "house hack" meaning - buy a place less than 10 mins walk to a train station and rent out all but 1 of the rooms... Then "semi-retire" 😅 at 27🎊 Thoughts anyone?

@Sarah-ny1ug 3 года назад

Best of luck

@pauloskills 2 года назад

Wowww... I have been a fan since first covid times and you guys are truly blessed and a Ray of light for the dark and challenging times we are in. You guys are evidence to the fact that, however dark, the times get, there is hope that, light will shine through by God's help... Thanks for this video and it's so soo good to have Mary dropping wisdom nuggets alongside you, Ken..there's power in Team work indeed... One quick question though... we are looking to purchase the home we currently occupy via housing association .. a lot of the perks like location and school are all checked... But the thing is, do we need to get a surveyor to still look at the property to assess the structural integrity seeing we have been living in here for over 7 years? Also, when we get to the finish line, how soon can we begin to look at going for a second property as we would like to one day rent this one out? Also with current interest rate at 1.25%, is there still a chance of getting a fixed rate on the mortgage in say 5 months time? Many thanks and I look forward to your reply Great work you two...🤗🤗🤗

@scp731 3 года назад

Aiming to sort out my housing situation in 2022. Will get there hopefully. Thanks for the tips, as there were a few things I need to pay closer attention to 👍🏿

@TheHumblePenny 3 года назад

You got this! Keep going. 2022 is not far now :)

@scp731 3 года назад

@@TheHumblePenny I sure will. Thanks very much!

@KBSOFLY 3 года назад

I love the head scarf 🌍

@TheHumblePenny 3 года назад

Thank you! 😊

@Amalina20 3 года назад

First time buyer. Now just waiting to exchange and complete fingers crossed I’ll have the keys soon 😅

@TheHumblePenny 3 года назад

Whoop whoop!! 🥂

@Eby_100 3 года назад

Very useful. I have lifetime Isa and considering buying my two bedrooms council flat.

@TheHumblePenny 3 года назад

Thank you and good luck 😀

@josephwalker6879 2 года назад

Hi. Ken and Mary. I am so glad. I am buying my new semi detatched/detached. I run my own export and import business in garments, and through the business I am able to make an offer on the house I am buying. I do not need a mortage. I am a Cash buyer and I also have a solicitor working on behalf of myself. I am nearly there to move. I must say thanks for the Tips in purchasing a house. I will be buying my House in KENT where is much quiet and peaceful without the nice in London. I will be outside of London, with easy access by train to come into London. Thanks. Joseph

@TheHumblePenny 2 года назад

Joseph, HUGE congrats!! 😁

@natchasolutions8908 3 года назад

Please do a video on steps to remortgage. We will remortgage next march. Thanks a lot.

@TheHumblePenny 3 года назад

Noted :)

@SelfInvested 3 года назад

Very useful video guys! Great to see Mary on screen again! She’s a natural! I bought in 2016 with a 3 year fixed rate mortgage around 2%, then got a 2 year tracker in 2019 with an interest rate 0.89% above the base rate so my it’s currently under 1%!! Mortgage rates at the moment are a bit crazy though, they keep increasing and the fixed periods are longer. I was looking at 90% LTV mortgages in September and the cheapest fixed rate I could find was 2.85% over 5 years!!

@TheHumblePenny 3 года назад

Thank a lot!! :). Great share about these mortgage rates. Interesting to see that a 5 year fixed is 2.85%. When we bought out first flat, it was 5.99% for 5 year fixed. How times have changed! Says a lot about what we can expect for the future really.

@SelfInvested 3 года назад

@@TheHumblePenny 5.99% WOW!! Any particular reason it was so high? Was that just how it was at the time?

@SelfInvested 3 года назад

@E B Geez!! Let’s hope they stay low otherwise a lot of ppl will be in trouble!

@savvyfeminist4700 3 года назад

thank you this was so informative. two questions: if you are a couple and only one partner is working can the mortgage application be based on just the person working and does this put you in a better position? what if your partner has really bad credit, should the application be solely based on the person with good credit to stand a better chance? thanks

@cornsinvesting 3 года назад

Hey Ken, very relevant content for first time buyers. There couldn't be a better opportunity given current economic climate and available incentives. Bricks and mortar for the long term. I'm invested and on the journey to early retirement on the markets and side hustles..hehe. Good job!

@TheHumblePenny 3 года назад

Hey, much appreciated comment! Yes, the incentives are incredible right now. Stay on the journey and enjoy it! :)

@Annkelia Год назад

I think to do the process justice the video easily could have been 3x the length :) I have completed on a help to buy property in London this March - and what was crucial to my planning and what so few places highlight - is how much money you need at each stage - i.e. reservation, exchange, completion - that's also very different for new builds as exchange for off plan purchases often happens way ahead of completion.

@TheHumblePenny Год назад

Thank you for adding value to the conversation. You're right, it's a very lengthy and quite complicated process.

@Natural2020_ 3 года назад

You mentioned you can't back out once you've exchanged contracts, would I be right to think that the mortgage has to be 100% approved prior to exchanging contracts then? Also on average how long does this process take from making an offer to completion? What might slow things down and how might I avoid those delays?

@LivingSwedish 3 года назад

Great video! ✨ It's quite scary to buy a house, to be honest. But saving up for it 💪🏻 One day, very soon 😉

@TheHumblePenny 3 года назад

It really is quite scary, but it becomes very practical when you plan for it well. Where are you hoping to buy?

@LivingSwedish 3 года назад

@@TheHumblePenny Not quite sure yet. Thinking about buying in Germany...

@TheHumblePenny 3 года назад

@@LivingSwedish Is that cheaper relatively? East or West Germany?

@LivingSwedish 3 года назад

@@TheHumblePenny Hmm... it depends where you buy and what kind of house you buy. Ideally outside Berlin with many lakes around. That would be East Germany then, where I was born 😉 GDR

@susomila903 3 года назад

@@LivingSwedish I took a leap off faith by joining the best team for credit repair, I am so excited to see where my score will be after a couple of days more. Thank you Credit PatchUp LLC. I'm really happy I contacted them because they really saved my ass and helped get our new home. My family and I show our appreciation and we are forever indebted to them. In 10 years I struggled to bring it to 803. Without 'Creditpatchup.com' this would not have happened.

@katiavione 3 года назад

I managed to save 10% for the deposit. Covid came and now most lenders will only offer 85% mortgages. Because I’m an immigrant, my mortgage options are really limited. I also need at least 12 months left on my visa, so I’m running out of time before I have to wait 12-15 months to get a permanent visa and be able to buy a house. It’s frustrating that I’ll have to wait but at least I know I’m ready.

@benitaduzzy247 2 года назад

Very informative video Thank you guys Please I want to ask , is it essential to check the energy efficiency of a house before buying? Could you advise the energy level to avoid/manage

@TheHumblePenny 2 года назад

Thank you and yes! :). The closer to A the better.

@nainai6770 3 года назад

Me too by the grace of GOD. Will be a FTB

@dietrichcdrr 3 года назад

Making a lower offer can be a nice saving. But maybe you could have explained a bit more on acceptable offerings (5% , 10%, 15% lower??)

@TheHumblePenny 3 года назад

Good point! It is a buyer's market now, so sellers will be receiving offers. 5% or below is what we typically aim for. Especially if it's a property that has a lot going for it. e.g. £350k property, you can realistically ask for £330k and start there.

@peaceborn 3 года назад

Great video 👌🏾 What is the first step? Get a 3-6 months worth of income saved or use the money as part of your deposit for a first house?

@TheHumblePenny 3 года назад

Always have an available emergency fund first. This is even more important in the current climate.

@WellnessWise50 3 года назад

Thank you, super helpful video. Looking to buy a house next year. is it worth getting property survey for new built homes

@TheHumblePenny 3 года назад

We'd say, yes! The survey looks beyond the structure of the property. Good luck for next year :)

@joline2730 Год назад

I would recommend a 'new build' Snagging Expert - there are some vids on utube showing disgustig new builds ... 👎😒

@dreambigdreams2023 2 года назад

Can you give a guide for non British immigrants and EU on buying a house in UK for first time? How long do they need to be in UK in order to get qualified for mortgage?

@ddomo95 2 года назад

You two make it interesting and nice to become a property owner, I thank God and pray Yah help me own a property here in UK and anywhere else as it pleases Him this year 2022 in Yeshua's Holy name Amen and Amen. Thanks

@TheHumblePenny 2 года назад

😊🙏🏾

@BouQuiBQ 2 года назад

Thank you for this video really helpful. I assume you must also have a life insurance as well???

@TheHumblePenny 2 года назад

You're welcome 😊. Yes we do :). The younger you get life insurance the better. We have a Life Insurance video you should watch. Just search "Life Insurance" on our channel

@yovlcano Год назад

Hii

@rohitsharma-gh5nb 2 года назад

Hello guys very informative video, could you please tell me about monthly mortage repayment calculated on zoopla, for example if the propertty is £350000 and i put a deposit of 35000, i will pay the mortage on £315000? Thanks in advance.

@TheHumblePenny 2 года назад

Yes, correct. You pay mortgage on the portion that you borrow. Feel free to download our mortgage calculator here: thehumblepenny.com/mortgagecalculator

@Pippa.G 3 года назад

Its so exciting buying a new house. I'm waiting for my keys now :-) . The hustle has been real and long but very worthwhile.

@omalone1169 3 года назад

George Subira is proud

@TheHumblePenny 3 года назад

AMAZING!! :) CONGRATS!!

@Pippa.G 3 года назад

@@TheHumblePenny Thank you!! - My next step is to pay off my mortgage within 7 years and your videos are so helpful. Thanks for always sharing and inspiring!

@brownlady0008 2 года назад

Amazing couple !! :)

@TheHumblePenny 2 года назад

😊💛

@summerbreeze1100 3 года назад

Thank you so much for this both, you are doing really helpful work especial for me personally. I'm from a background that hasn't got any mentor or adults to support me so...so this is a big help.Could you please say more about morgadge company lending, I'm not sure where to go. Also I still have my student loan to pay off and have had set backs which has lead to only saving 10k at a late age. Do you have any company or where I can search it any advice on whether I should not be buying yet. Thank you🙏

@TheHumblePenny 3 года назад

You're welcome, Vi! :). Student loans - Are these from the UK? if so, I'd prioritise other use of your money for now (e.g. buying a home) before attempting to pay this off. In our view, now is a good time to buy given the stamp duty incentive. But please make sure you do sufficient research about where you're buying, etc.

@summerbreeze1100 3 года назад

@@TheHumblePenny Hi both, thank you for your response and advice. Yes, I'm from the UK. To confirm, does that mean that paying off your student loan does not affect your credit. I was really worried about that.

@deltastate3936 3 года назад

@@summerbreeze1100 student loan doesn't affect getting a mortgage - I graduated in 2007 and haven't paid off my student loan and have had many mortgages since :)

@susomila903 3 года назад

@@deltastate3936 I took a leap off faith by joining the best team for credit repair, I am so excited to see where my score will be after a couple of days more. Thank you Credit PatchUp LLC. I'm really happy I contacted them because they really saved my ass and helped get our new home. My family and I show our appreciation and we are forever indebted to them. In 10 years I struggled to bring it to 803. Without 'Creditpatchup.com' this would not have happened.

@summerbreeze1100 3 года назад

@@deltastate3936 thank you for your advice, I really appreciate it. 🙏🌻🌻💫💫

@Everlycece 3 года назад

Hi thanks for your video. As a matter of urgency I’m about to buy a house with my partner but I’m not excited about the location as I feel it’s rough or dodgy. Please who can I employ for on advice about choosing a location within our budget. Like what professionals are these kind of people called here in UK?

@TheHumblePenny 3 года назад

Congrats on your near purchase! :) We'd suggest focusing on local estate agents (especially ones that are not selling the property to you) and secondly, speaking with local neighbours. Unfortunately, the most reliable judgement or assessment about an area is one that you carry out by yourself across multiple dates and different times of day. Also, we'd highly recommend not buying in an area that you feel is dodgy. We had to do the same and pull out just before exchange of contracts as our judgement led us to do so on the back of certain things we saw in the specific area. All the best! :)

@tayosekoni308 3 года назад

How about advice on buying a council flat

@TheHumblePenny 3 года назад

Added to our list :)

@moneyisweird7862 3 года назад

Do you have information about buying Vs shared ownership please and pros and cons on staircasing as I'm a single woman and it seems impossible to buy anything with my salary without shared ownership as an option

@TheHumblePenny 3 года назад

What is your salary (if you don't mind me asking)? We've never really been fans of shared ownership. However, we understand that it's the only option available to some people. Personally, I'd much rather move to an area that I can afford whilst also working to continually increase my income over time.

@nathankennedyuk 2 года назад

At what stage can you get a property surveyor in and how does it work?

@joline2730 Год назад

Once you've made an offer and it has been accepted, then get a survey done - you don't really want to go any further if the house has say, structural issues, at which point you pull out and look for a better house (there is ALWAYS something better)

@kevobaba3545 5 месяцев назад

You didn’t cover stamp duty

@Lurrification 3 года назад

Does your income determine how much mortgage you can borrow, which then means it will determine where you can actually buy a property?

@TheHumblePenny 3 года назад

Yes. Because it ultimately dictates how much you can afford to spend.

@cleliofs 3 года назад

Which area of London's outskirts have you bought your property?

@TheHumblePenny 3 года назад

Kent :)

@IGM_Dex 3 года назад

Kent too

@LorettasKitchen 2 года назад

Hello should I arrange a house buy surveyor before I make an offer? You mention the surveyor later in the video but it seems like that’s after you have accepted the property and it’s off the market

@joline2730 Год назад

See my other response ... once offer accepted then get survey done ...

@yovlcano Год назад

Hello it's me

@TheHumblePenny Год назад

❤️❤️

@mojisolaadeniji5676 3 года назад

Thanks Ken...your videos are so helpful... Can you do a video on Bitcoin/ Cyrptocurrency... I hear Paypal is now dealing in Crptocurrency

@yinkalune7872 3 года назад

Hey Ken, do you have life insurance? What do you recommend? Does this build general wealth?

@TheHumblePenny 3 года назад

Yes we still have term life insurance even though we no longer have a mortgage. We have Term Life insurance. It can build generational wealth if claimed on and depending on personal circumstances. Life assurance is guaranteed payout and more expensive. Life Insurance is less expensive and isn't guaranteed.

@yinkalune7872 3 года назад

@@TheHumblePenny thank you very much!

@shahilagh 3 года назад

What do you mean by saying interest rates r low now? What is low? tried to make the years low- a 12 year mortgage plan, I think what is left from my salary is not much more than the overpaying limit and I expect to contribute the savings if anything after five years and gradually making 12 about 7-8 years.

@joline2730 Год назад

Your mortgage repayments are linked almost directly to the Bank of England base rate, and when this video came out the interest rate was VERY low (I think less than 1% - It is now 4.5% !!). The repayment to your Lender goes up and down according to the Base Rate.

@bellaberrybees542 3 года назад

What’s a mortgage principal

@joline2730 Год назад

a "Mortgage in Principle" is a letter from a lender saying they are prepared to lend you the money. BUT they may pull out ... 🥺🥺

@flojoeization 3 года назад

What advice can you give a 27 year old single female from a background with no support or advice. I have been saving for almost 3 years now and have a sum of £20k deposit. I heard mortgages are calculated 4x salary. I want to know if I can get accepted for more than 4x my salary. Thank you.

@anitamiller9137 3 года назад

First direct whom I'm with offer 4.75 times your salary. Also for mine anyway you have the benefit of being able to pay off as much as you want as long as you don't pay it all before the fixed term. Speak to a free mortgage broker to see if they can find nay others that will lend you more.

@joline2730 Год назад

£20k is a great chunk of money, well done. But if you have £20k, you really only have £15k, cos £5k will go on costs. Don't know where you want to buy but there are houses very cheap in the North West (L'pool) and North East (Durham, Stockton etc) There are some not so bad areas for around £80k to £100k and you don't have to lend up to the hilt of 4.5 x your salary.

@noid1698 3 года назад

Since the housing market opened up again buyers are offering above the asking price regardless of any costs required to do the house up which for me being a FTB is really throwing me off! Any advice?

@peaceborn 3 года назад

This is the situation we are finding in Scotland too. Where are you by the way? Will be great to get an answer to this

@noid1698 3 года назад

@@peaceborn I'm based in the West Midlands

@rexgoden3482 3 года назад

Where have you been guys

@TheHumblePenny 3 года назад

Here 😉

@jt305 2 года назад

I'm self employed will 2 years history be enough 😫😩

@joline2730 Год назад

Yes, usually - depends on lender ...

@gaurav9s096 3 года назад

Hey I'm video editor I can edit all your videos in such a way that, that would be more impactful for your audience..

@TheHumblePenny 3 года назад

Send us an email via thehumblepenny.com

@zahirmalik3365 3 года назад

It’s looks like an apartment

@TheHumblePenny 3 года назад

Big hotel room :)

@TomosAvis 3 года назад

Haha, "are you living inside of London? Or on the outskirts of London?" The rest of the UK doesn't exist 😂

@TheHumblePenny 3 года назад

😆 good point well made :). We mention London as it's an extremely expensive City. Most places outside of London aren't as expensive. And let's not forget, London is the epicentre of UK financial activity although I ofcourse get the point you're making that there is more to UK life beyond London.

@joline2730 Год назад

My advice (nine properties) DO NOT use a mortgage adviser - someone pays them, if that is not you, then the Lender will pay them and this means your MA will try to steer you towards that Lender - they do not really look out for you, but for who pays them the most. They don't do it for nuffink ‼️ Do your own research - easy on Google - and don't forget building societies. ALWAYS get a Repayment Mortgage. A tracker is just stating that it tracks the BoE interest rate, but most mortgages do anyway 🥺

@KellyJoyceTv Год назад

Thanks for sharing ❤

@TheHumblePenny Год назад

You're welcome 😊