🙌🏽

Thanks for this detailed explanation 👍🏽

Love this for you!

Most mortgages allow you to 10% of total amount owed each year without repayment charges and then there are mortgages that don’t have the early repayment charge

You’re most welcome!

It’s 5% every year for 25 years for what you owe. Not a one time 5% calculation

Hi if it’s a residential property ie one you’d live in then you can buy in your personal name - so you can use tools like a Lifetime ISA for first time buyers. If it’s an investment property ie one you’d live want to rent out or use for AirBnB or Flip then it’ll be better to buy it with a Limited liability company I hope this helps

Aww thank youuuuu

All the best with your house! What mixed feelings do you have?

@ChideraPeters new build or build

Yeah House of Multiple Occupancy, what exactly do you want to know about it 🤔

I had a property I am considering. Converting to an HMO, but wondered if it's better to do in my name or a PLC.

lol subletting your house still isn’t easier than just packing your bag and leaving when you rent

Oh this is amazing! I hope I’m able to do this some day- thanks for sharing 🙌🏽✨

Lol and which is my own country?

lol 😂 Nigeria didn’t have to collect stray bullet

Exactly - that’s my plan too 🙌🏽

Aww thank you ☺️

Agree with this 🙌🏽

Mortgage is a fancy word for renting as well bcus banks own the house till you fully pay the money, let say 20 years or 30 years. Secondly, buying a house means you are committed to spending more of your earnings or salary on things like house insurance and rep, irs whereas atenantnant , your landlord is responsible for all that not you. Thirdly, you call it investment, so when you sell the house in the future and pay capital gain tax on, it may be 32% to 40% of your profit on the property, are you going to be living outside or renting? And if you die without a will Government take over the house, or if you will it to your kids or wife, they have to pay 40% inheritance tax of the value of the property. So, if you die before completing the mortgage payment and will the property to your family, they have no option but to sell it, pay the inheritance tax, and the mortgage outstanding balance and look for somewhere else to leave or the have to look for a way to pay those money. It's all a scam

To an extent, you could call it renting. But you could also look at purchasing the property as somewhere for your kids or even grandkids to call home long-term. Making their life easier going forward. At home, they will be able to save most of their earning to purchase their own in the future

@olanosergio what if your kids want to work abroad or join the military and stay in the barrack? Moreover, if your kids decide to buy their own property, leaving with you in a rented house or owned house makes no difference as they can start working at age 16 and save, and once they turned 18 the employment make them qualify to buy their property and when going to uni they can choose a uni closer to home use their employment savings and over 12k a year maintenance loan as their deposite.

Glad you’ve figured out which is a better decision for you 👏🏽✨

Property is not the only investment available considering tax to pay if you decide to sell. That down payment can get you other tax-free investments like gold, and you can sell them so fast, unlike a property, which can take 2 months or more on the market to sell. In the UK, every new house roof comes with 25 years of life span, so after 25 years, be ready to replace the roof either with your savings, your pension, or loan.

​@@dallashaj4711in addition in your old age we (social care) will sell your house to pay for your care regardless of you having children. It used to be a good investment but not anymore

Thanks for sharing this ♥️

The property value may also reduce

Yeah I mentioned that it increases every ten years. It’s not in every case that it will be an exact double

​@@johnnyoforiNever

​@ChideraPeters it still appreciates overtime.... in the USA it's 5% appreciation per year... 10yrs is 50% appreciation

And your mortgage actually makes you pay £600k( via the interest )not the £300k advertised😊

You’re most welcome. Do make sure to like the video if you haven’t already - thank you!🙏🏽

But you'll pay more on rent during that period and won't end up with any any eqiuty on the house you rented

Yeah this is true 👍🏽

🙌🏽 some day soon ✨

@ Amen o

As always, thanks for showing up

lol that was super quick!😂 Thanks for showing up. You’ll get all the tea