What does a Mortgage Broker “actually” do? 

Old school one that - check out the paylists!!

Great thank you, has it helped?

@@GaryDas Yes for sure it has

No problem 👍

Thanks, its very hard to say, you need to find a trainee role which there are companies who take advisers on and support them. Many fancy a later on craeer change, so i think it is completely possible. Get your CeMAP and then find a job so you have no break in employment

@@GaryDas thanks for the reply one last question once you get your CeMAP is it still hard to get a job ? ( due to no real life experience in the role ) as that’s what people have found when doing accounting for example.

@@hammer8383 Its tough to say, there are more firms willing to take on trainees at present. My advice would be to start looking as soon as possible for a firm that is willing to train you to do the job as the exams teach you nothing.

@@GaryDas thank you for the reply mate 👍

Once you pass the exams you have to go through "CAS" - check out my video on that, it will explain alot more for you.

Thanks

Completely disagree with that statement. I purchased my first flat in 2006, right at the peak of prices and spent years in negative equity, but when i sold in 2013 I made £50k. I bought my first house with my wife in 2011, we made £100,000 in equity by 2015. Since 2015 the home we are in now it has gone up £200,000 in that time. The key is buying at the right time and paying the mortgage down, the interest you pay providing your review with your mortgage every few years compared to the capital growth will always outway. Why does every billionaire have a sizeable property portfolio, because assets make money over time when considered a long term investment.

Actually you didn’t buy the house to live , you used it as a rental property, I was referring to people you aren’t trying to get into this business

@@GaryDas hey you have a Instagram or any socials I can contact you

@@GaryDas oil.

@cjay one If you think mortgage is a trap then to me that mortgage trap is much better than the rental trap because generally rents are much higher than the mortgages and those mortgage repayments that you make every month goes to reduce the mortgage and eventually you become the full owner of the property and hence you built your wealth. Because you are paying less on mortgage than paying a rent, that means you save more money every month hence you can own your property even more faster by paying off your mortgage using the saved amount. On the other hand if you rent, none of the rent payments is going into your own pot, it's going to your Landlord's pot. And because you are paying a high amount on rent you would be saving a lot less than someone who is repaying a mortgage. Here I'm assuming you are a typical English man who will be renting a property whilst you try to save money to buy a property without a mortgage trap. In some cases renting can be better than paying a mortgage if the property price (mortgage) is higher than the rent, and if the interest rate is very high which currently isn't, so with these current Interest rates it's a no brainer to have a mortgage than paying a rent to someone else. For an average £30k annual salaried person it will be easier to save the first £20k to purchase a £150k property than having a mindset like yours and start trying to save the full £150k first. I am talking about the northern property here incase you are a Southerner and wondering there is no properties for around £150k. In my opinion, trying to save full amount of cash to buy property outright at the beginning is a dumb idea. Unless let's say you have a £1million cash and want to buy a £300k residential property to live in. But even if I had £1m and wanted to buy the same £300k property, I would still buy it on mortgage in order to benefit from the inflation, the low interest rates, and the use of leverage.

I dont know anything about the Australian market!!

Thanks for the information. Majority of lenders will want to average your income over the last 2 years, however there are a number of lenders that could consider your latest year solely. This will mean £29k multiple 4.5 = Roughly £130,500 mortgage. This is by no means accurate as it doesn’t account for mortgage term, expenditure, debts or disposable income. The mortgage is based on affordability so this is purely for initial indication purposes. Based on the information your have provided we would be happy to discuss your ability to get a mortgage further. There are many pieces to the puzzle to be considered when apply for a mortgage. There are lenders who could consider the 427 score, this links to the size of deposit, we usually recommend a 10% deposit which does fit based on the mortgage amount above. It could be possible with 5%, however some lenders based on your 427 score may insist on a 15% deposit. We recommend speak to the team and a qualified mortgage adviser who can provide you with a advice, recommendation and personalised illustration to make sure the mortgage is affordable. If you submit your details at www.active.mortgage one of the team will contact you. Thank you for getting in contact. Team Active.

They are the same thing - Adviser (or is American 😀)

Its 21 minutes, if you cannot spare 21 mins then good luck. Investing time to learn is vital, with that attitude you will NEVER be successful.

Thanks