How to buy a property in UK ? 2023 | Malayalam | Mortgage - Overview

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Mortgage Advisor
Mr. Abraham Mathew
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Welcome to our RU-vid channel! In this informative video, we delve into the latest updates and changes regarding student visas in the United Kingdom. If you're considering pursuing your education in the UK or are simply interested in staying up-to-date with immigration policies, this video is a must-watch.
This channel will mainly focus on providing information to aspiring students who wish to study for bachelor's or masters in United Kingdom.
Details about major universities, courses, student life, visa process, loan process etc. will be covered in coming videos.
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Опубликовано:

21 авг 2023

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Комментарии : 24

@Linsekj 10 месяцев назад

Very basic info. If you have no other credit commitments such as personal loan, credit cards, store cards, car loans, student loans etc, then the maximum amount of mortgage that may be offered will be around 4.5 times of your household income before tax. So as an example if both husband and wife earn £25,000 each, every year, then max amount most lenders will offer is £2,25,000 irrespective of your deposit amount. If you don’t have ILR, then only a couple of lenders offer mortgage. If you have £40,000 to deposit, additional cost are around £3000 for solicitors, surveys, mortgage application fee etc. you never need to pay a mortgage broker/advisor. If they ask for payment run away. 😅

@prittyabraham819 10 месяцев назад

Thanks for the information

@glorymemana5604 10 месяцев назад

I know Abraham. He is a good mortgage advisor. He helps you untill you get the property in your hand.

@nistilanstephen4067 2 месяца назад

What's his contact number

@jameskuriakoseu1761 10 месяцев назад

Absolutely good advice for buying property. Mr. Mathew bring more more informations regarding to buying and selling property’s. This talk will be eye opener for the clients in Uk

@alfredvincent7254 10 месяцев назад

Good content bro

@Manchestermallu 10 месяцев назад

Very informative bro

@goldenodyssey1 10 месяцев назад

Thanks bro

@aravind7386 10 месяцев назад

Timing bro❤

@sd8012 5 месяцев назад

Is it okay to buy property with shared ownership.. what are the disadvantages

@nithinkrishnar4570 9 месяцев назад

As a student uk ill vanne course complete akky oru work visa kity evide nilkuna situationil married allatha sahachyrum anel mortage kitan sadhyta undo

@goldenodyssey1 9 месяцев назад

Depends upon the credit score, salary etc. bro. We are planning a more detailed video. It will be up shortly

@eldhoabraham309 10 месяцев назад

Mortgage advisor nammude nearest place nnu thanne avanam ennundo? Or can we choose anywhere from UK

@goldenodyssey1 10 месяцев назад

You can go with trusted ones anywhere

@abrahamtalks 9 месяцев назад

You can choose any mortgage advisors in UK as long as they are qualified to do so.

@sinidenny2202 10 месяцев назад

നല്ല ഒരു ഏജൻസി പറയാമോ...

@Linsekj 10 месяцев назад

Search in rightmove or zoopla. Most Agencies are local. Doesn’t really matter who the agency is.

@SijuMarkose 8 месяцев назад

7% mortgage and less than 2% appreciation in Scotland excluding city centers. I prefer renting 😂. Mortgage advisors always want to sell mortgages In my opinion one should start with a financial advisor.

@SalemPropertyManagementLtd 8 месяцев назад

Bro.. What about the rent you pay every month. Think about the the rent you pay every year. Suppose you paid rent of £800 for one year that is £9600. Think about 2 years rent you pay.. When you pay mortgage you reduce loan amount and your equity is increasing. Also think that rent can increase every year as well. Think about some one renting a property 10 year how much rent they paid?? Imagine you paid mortgage for 10 years your loan amount would have reduced a lot.. Thats equity. 😊 Its a forced saving. All the best

@SijuMarkose 8 месяцев назад

@@SalemPropertyManagementLtd £ 9600 is less than the interest I will have to pay if go for a mortgage now. In addition to the property factor fees, maintenance, insurance etc etc will add up. Moreover, I can invest in shares or in deposits, which give even more returns. Buying property on a mortgage is not a wise idea now. If one has disposable money and not looking for better returns it is fine to buy now otherwise it would be better to wait.

@SalemPropertyManagementLtd 8 месяцев назад

@@SijuMarkose Investing in shares over buying property can be a valid choice, depending on your risk tolerance and financial goals. Additionally, considering inflation is crucial. In a mortgage, the interest component is higher initially but decreases over time, while rent payments tend to increase with inflation. Although interest rates may fluctuate, owning property can potentially be advantageous over renting for an average person in the long run, especially if property values appreciate over the years. However, this decision depends on your individual financial situation and objectives.

@SijuMarkose 8 месяцев назад

@@SalemPropertyManagementLtd I agree with you that buying a property for living or renting is good but not in this financial downturn situation. In terms of risk, a mortgage does not give any risk protection, and it can go up not just down. If you remember in 2008 during the recession thousands were forced evicted from their mortgaged properties when the interest rate hit similar to current figures and many. The UK is going through a similar scenario. Now everyone needs liquidity, meaning they need cash at hand to manage the crunch situations and wait a bit. Renting for a couple of years is not an expense, considering the even more risks they are entering with a mortgage now.

@amathew061974 8 месяцев назад

@@SijuMarkose I understand your worries about the current financial problems and the risks of getting a mortgage. Here's the thing: Not all financial problems are the same. What happened in 2008 was kind of unique, and the rules for getting a mortgage are stricter now. Purchasing a property that falls within your budget can be a financially prudent decision. An affordable property allows you to become a homeowner without overextending your financial resources. It may result in lower monthly mortgage payments, reducing the financial strain and risk associated with homeownership. This way, you can build equity and enjoy the benefits of property ownership without taking on excessive financial burdens. Some people get mortgages with fixed interest rates. That means your monthly payment stays the same, even if interest rates go up. It's more predictable. Owning a house is usually a good thing for the long term. House values usually go up over time. Even if you own a house, you should have some extra money saved for unexpected things. Renting can provide flexibility, but owning a property gives you greater control over your living environment. You can make improvements and customize your space to your liking, potentially increasing its value over time. Bro. In the end, it is your decision whether you wanna buy or rent. Respect that choice 😊🙏