The Property Series has officially kicked-off! In today's video I take you through the overall key steps to getting on the property ladder for all you budding first-time buyers. Although this is just a basic guide, I will be going into way more detail on each of these steps, as the series continues, and doing my best to provide you with as much useful information and insight as possible. Whilst this is based on buying property in the UK, a lot of these steps still apply to anywhere in the world! If you have any specific property-buying related topics that you would like me to cover in this series, leave a comment below!
Thanks for putting this out there!!! This was easy to understand, and helped me understand which steps I need to be focused on. I appreciate this FREE knowledge! I truly truly do. Is there any book you would recommend that you used as a resource in your research/experience around this area?
Thank you Patricia you have been such an amazing person for the years I've been watching you. Not everyone is willing to share these bits but here you are sharing your knowledge with us for FREE ( we dont deserve you )😘😍
Well, because property really isn't the focus of many teenagers lol, same with taxes. These things are very important yes, and young people should be aware of it, but quite frankly many people don't care about it and view it as something you need to learn for yourself when you're older and more mature. I'm not sure about other countries, but I'm sure a lot of people are aware of PSHE lessons in school, and perhaps this should be included in those lessons.
You’re not giving us a fish but teaching us how to catch our own fish. Your basket will always be full. We value you because you have valued us enough to share your diamonds and pearls of knowledge with us. We love you Patricia Bright 🥰
@@The_Break 🥰🥰 I'm in love with her, in a good way. And her sis too. Patricia!!, I hope I could work with you if you ever need a new york person . You give me so much lifee
Since I work for a bank, I thought I would share: 1. First time home buyers qualify for 3% down downpayment 2. First time home buyers qualify for downpayment assistance programs depending on location of property. You don’t have to pay it back if you live in property for 5 years. 3 You can also qualify for introductory terms at the bank (no interest charged on mortgage for a given period). Ask your loan officer 4. If you have an account with the bank you are getting the mortgage from, you will get a discount ONLY if you ask for it. Always ask your MLO if they are any discounts you qualify for. You end up with a lower interest rate 5. Do not be afraid to “haggle” with the bank for a lower interest rate than the one initially given to you. Get a lower rate from another bank or mortgage company and ask your bank to beat it. They always will and keep going back and forth until you are comfortable with the rate you’re getting. A house is your biggest purchase after all.
#HelpbabyMarcelo# That’s good to know. I am thinking to buy because paying renting for someone else is wasting of money. I am thinking about sharing properties because houses in London are very expensive.
Words can't explain how much I appreciate this video... I'm a 21 year old watching from Jamaica and really want to start saving towards a home. I was beginning to get so frustrated because the process seemed so hard. You really broke down for me😊
Patricia, your channel couldn't have come at a better time. You are playing a massive role in helping me stay focussed on my goals. Thank you so much ❤️ Sending you so much love and so many good vibes ✨
Viewing properties was the most difficult part in my experience. Most of the times, the pictures look nothing like the actual house.. plus hubby and I couldn’t agree on a house coz we had different tastes lol.. also be prepared to compromise. Unless you built it, the houses won’t tick all your boxes.. I had to compromise on garage/driveway for a big garden...
We are looking to buy our first house next year and this is what I am dreading of. I know that I won't be able to get the house of my dreams and will have to compromise on a lot of things 🙁 We were renting for 10 years since moving to the UK and we really want to settle in our own home. We have 10% deposit and our credit history is very good but the most difficult part is property prices around London are insane!! And we can't move too far because of my husbands business.
From the 1st time I saw Patricia Bright on 'This Morning' chatting at the boom of the RU-vid millionaires/entrepreneurs, I was intrigued. I've watched a couple of her posts but I really liked when she spoke on business/investing/budgeting. So I'm so hooked on this new channel that she's created that is pretty much solely on aspirations, inspiration, education. Not many folks like to share their how tos to their success so I really admire her & the few out there that do do so. May you and your family continue to be blessed x
As one of your earliest, I am loving this financial vlogs. You really are inspirational for so many people. Keep up the good work. I rarely comment but what you teaching is financial freedom and so many people do not have a clue how to go about this.
I'm currently at uni so I wont be buying a house for a while. I am trying to start saving when I can and get educated which this channel really helps with 😊
Please do a video on how to improve your credit score at the minute mine isn’t bad but I would like it to be better as I am looking at getting a mortgage in the future I would be very great full
my husband and I left London in 2018 because realistically for us was impossible to buy a house so we moved to Leeds and made that happen (and it is a new home too!!)! At the time we only had a daughter, now we have a little boy too and I'm very proud of what we did,it might not be a castle with 200 bedrooms but at the end of the mortgage it will be ours! Not gonna lie, it's kind of hard now because I am not able to work full time but because of the kids but the videos you are making about homes give me hope as well as many many tips, that one day we might even be able to invest in another one. Thank you so much for sharing your experiences and knowledge with us
This was great timing! My fiance and I decided thst instead of renting again we would look to buy a home that we can stay in for the next 5 to 7 years so we just got the ball rolling on looking into what we need to be able to get into a house by July since that's when our lease ends. I really appreciate the part about not letting anyone pressure you because we went to go view houses a couple days ago and the realtor tried to push us to put in an offer 4 months before we're ready and just negotiating the sellers to pay off the lease.
It is important to understand that sale agreed at the estate agents does not mean that it is yours. Secondly until contracts are signed and legally accepted that anything can happen!! Please note that stamp duty that you noted was £300,000 for london lesser amount for the rest of the uk including NI.
Idk what im doing here im a teenager and deffo not buying a house anytime soon but this is the type of stuff they don’t teach us at school. Im glad i live un a generation where i can get this for free 😊
Honestly, this is the most important topics and reasonable youve uploaded...for me your coming through...so please do more .keep them coming...your now in another level of videos i like to watch.so thanks
Patricia my dear, thank you so much for being such a bomb role model for women everywhere. Humble, loving and smart? That's what we all should aspire to be xx
Patricia 😵 I’m absolutely loving this new channel. Though I’m in the US and a lot of these don’t apply / are different I’m loving it. I invest in real estate as well and I’m buying my second property next year 🥳. You’re is my absolute idol. I’m trying to get on your level.
Having a very good investment plan that ensures steady incomes without any doubts you can prepare for a well organised future, even in retirement. I made over $45k investing in the Forex market. Milford Tom is the expert who assists me. We met at a trading conference and he accepted to trade for me.
No offense to your other channel cause that is great. But this is wwwwwwaaaaayyyyyyyy better. I have the bell on and keep waiting for more. This channel is a game changer. Learnt so much
Hoping to buy my first home, a flat in London with my sister. I’m a student and she’s a Junior Doctor and this video has been an amazing explanation. Please do more in depth property videos!!!
Honestly you just give me so much motivation!!! Could you do some of you top tips of things to do once you've bought a home? I guess I should know these things already but I just find it so helpful the way you explain things!!
Dayummm if this is something school was teaching me I would be on my 100th investment by now. woow big up sis keep the videos coming going to literally buy a notepad for these lectures
I emailed your management to ask if you could speak at my upcoming event called "Women In The Property Industry" but still haven't heard back from anybody :(. I have been watching you for quite some time and I was filled with joy when you began sharing your journey into property and business. You are an inspiration for all women and it would be an absolute honour to have you speak at this event!
I can’t wait to be able to purchase a home one day. As a 34 year old, I can honestly say that I’m ashamed that it will be a long while before that happens. Unfortunately, my husband and I found out my credit score was affected by the breach that occurred here and as a result I’m not eligible for any type of housing loans. When I tell y’all I feel extremely defeated....... I’m enjoying this series though, it gives me a little ray of hope ☺️
Law of attraction, you’re already thinking about it, now it’s about directing your actions to align with those thoughts. And there’s nothing to be ashamed of, all of us have different circumstances. Keep doing you 😊❤️
Maybe consider changing your marriage contract so that your husband can purchase it under him alone if ever his salary alone allows. Then when you sorted you can change it back to initial contract. I’ve seen a lot of people do this.
Girl, no! It’s NO shame in owning a house later in life, it’ll still be an accomplishment when you get it. Stay focused, disciplined and motivated, you got this 💪🏾
Girl let me tell you something am turning 45 next month and getting my first property THERE IS NOTHING TO BE ASHAMED OFF ALL OUR JOURNEY IN LIFE IS DIFFERENT as long as there is life there is hope God Bless and the house is coming.x
Patricia Bright you are one in a million. You are so unique, you bring so much value to this platform it is beautiful! You are always what I'm looking for, always connecting the dots and inspiring me! I'm currently saving for my house deposit and you just taught me something new, again. Big up yourself you gem! Caressing that button all day every day xxx
Love this channel and its content. Patricia you are empowering so many people out here, myself including. This is the kind of information that needs to be giving to both young and old who are trying to get there life together. Keep slaying Queen!
You are definitely heaven sent. Thanks so much for sharing these few tips with us especially for those who are first time buyers like myself. My fiancee and I recently bought our first ever property after having been in rent for the last 5 years. The process was hella long but all worth it in the end. By the end of this year we should be purchasing our 2nd property(1 of my goals for this year). Thank you Patricia Bright❤we love you❤❤
3 properties - get it Patricia ;) Congratulations on this endeavor! Love that you are sharing this with others so that we all can be inspired to get into real estate.
As someone who’s worked for a mortgage brokers for years i just need to say that it IS NOT your credit score lenders care about, they care about whats on it (your spendings, direct debits etc) i know many people with a low score that have got a house, so dont be too put off by the number if whats reported on it is good!
Have to back this up 👌 they only normally bring up your credit score if there are undisclosed commitments showing on your report that you haven't placed on the application.
Sasha Whittam THANK YOU! I get annoyed when people bang on about getting a perfect score. We lenders do not care what Experian has scored you. we build our own scoring models based on our risk appetite.
Just seeing your comment & hope you don’t mind me asking. My account got closed because a bitter ex did fraud on it.. would this mess up my chance of getting a property?
I've always thought a house is better than a flat due to the house being freehold. However, being a first time buyer, a house is out the question. Can you post a video around leasehold (hidden costs, what can be changed within the flat and so forth) and is it worth it?
This was needed! ❤️ Me and my partner are saving for a deposit! We want to buy our first property this year. I’m so nervous that things won’t go to plan! Also saving is painful but hopefully it’ll be worth it xoxo
Hi Patricia, thank you so much for taking your time to come up with this video, as always a lot of great information. I have actually just completed on a property, by myself at 28 years old with a one year of accounts on my business. I just really wanted to touch on this as when i have decided to apply for a mortgage i have received a lot of unrequested advice as to why i should wait as my business is so new and apparently no lender will give me a mortgage and that was just false. I have actually had a fair amount of lenders to choose from at standard rates (between 2.5-4% interest rates) and with only 10% deposit. So please all of you self employed ladies and gents out there, do your research!!
This is the freaking content we need and I love on RU-vid!!!! I am a fan. Having good credit is everything. You can negotiate a whole lot with good credit. Also buy a fixer in a better neighborhood than a shiny in a lesser neighborhood. Put some sweat equity, sell it and move up to a better neighborhood. I start researching 6 months to 2 years when we are looking to buy. It gives me an idea of what is on the market and what I can get for my budget.
Love this. I wish I knew half of the stuff I know now about buying a house. Can you do a video about increasing the value of your house to either sell it or remortgage it to do some renovation work. Debating on extending or selling our property right now.
I love you Patricia, I'm an OG viewer, but I really have to say, residential conveyancers / solicitors do not work slowly. I cannot explain what a "day in the life is like" especially when clients "keep ringing" and you need to juggle non stop calls and emails with detailed legal investigation. I think what a lot of people buying and selling need to understand is that quality takes time. If you request a bespoke service, tailored to you and your needs and then the person providing the service rushes, misses things, provides inaccurate advice because not enough research has gone into it, you end up with a product with less value and dissatisfaction. The average conveyancer works alone with no assistant and will have between 50 and 70 active files. Some will be simple some will be extremely complex and require third party involvement. (It's the third parties that are slow! It's not their issue if a buyer buys or a seller sells). People also need to remember that for every one of those files there can be up to four clients, one agent or an entire branch of agents, another lawyer or team of lawyers on the other side, a mortgage broker, a landlord, a managing agent etc etc all trying to contact you daily. We work extremely hard and as you say, we do it so that buyers and sellers are legally protected. There is absolutely no benefit for us to make a transaction longer than it needs to be. I say this to say that we're here to help. I think a video like this really needs to be out there for young people to access and understand the process. A lot of people have no understanding of the costs and timescales and this can lead to frustrations. Anyway, I'm rambling. Great video (other than the dig at my people! 😂). Hope the family are good and thriving xx
Lauren Burgess Thank you so much for breaking this down so thoughtfully! It’s amazing what happens behind scenes, so much we just aren’t aware of. You are appreciated!!!💛💛💛
Please note that not all of the points Patricia mentioned apply in Scotland. For example, you DO NOT pay for the Home Report/Survey as a buyer, these costs are covered by the seller and anyone can request to view these whether you have a viewing booked or not. Also, you do not need to have an Agreement In Principle to view properties in Scotland.
I would LOVE a video on this topic that is specifically directed towards freelancers! There are thousands of us out here and I can foresee house ownership being a challenge - not because we’re not earning enough, but because banks might be old fashioned and not recognise our value and reliability! X
Hi Patricia, I am absolutely loving this channel! I would love for you to do a video on how to improve your credit score, what are the best credit cards to get etc? Thanks so much for all of this info! Xx
This is fantastic. I've been a fan of your videos for years. I'm so glad you're sharing your knowledge to help your viewers better themselves and put them in a better financial position for the future. As a fellow Croydon-er, this was something they definitely forgot to teach us at school. Keep up the great work! I would love to see a video with your thoughts on Lifetime ISAs etc. xxx
Thank you very much for this. I don't have any relatives who's ever bought a property here in the West. So I have nobody to teach me this things. Thank you so much.
Rossana Evaristo honestly I’m about to write my GCSEs and I regret choosing business, in year 9 I was so happy to choose it cos I thought we’d learn about mortgages, credit scores, and investments but nope and I’ve hated the subject ever😖
Although you don’t necessarily learn about credit scores, mortgages etc in business but you do learn A LOT of important stuff of business finances, operations, marketing, HR, economics and etc that are crucial if you know that you’re gonna pursue a corporate life after graduation or entrepreneurship. I’m currently in my second year of uni doing business management and honestly I love it. But if you’re not enjoying now in college then I wouldn’t recommend going for it in uni!
Great and timely video! Could you do one on the different types of mortgages and how to choose the one best for you. Also what things to watch out for eg clauses, penalties etc that we may need to be aware of. Xx
