HOW TO BUY A HOUSE WITH 0 DEPOSIT... 100% MORTGAGES / NO DEPOSIT RETURNS 🤯🏠

Recently Skiptons building society launched a new product which offers 100% of a home deposit and it is exclusively for renters. In this video we discuss who is eligible for this mortgage product, we then look at what the cost would be per month based on a £300k house, and also our personal thoughts on this type of mortgage.
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We are Lia and AK, and we're excited to share our journey with you as we navigate the world of property investing, business, and working together as a couple.
AK: I left my corporate job after experiencing mental and physical health issues, and we started our KZbin channel to document our journey as new property investors in 2019 with no upfront capital. Expect weekly videos where we provide project updates, share best practices, money-saving tips, and our learnings along the way.
Lia: With nearly a decade of experience building my own entertainment channel on KZbin from 0 to over 330k followers, the unpredictable nature of a content creator's monthly income took a toll on my mental health. Starting my property journey was my way of future-proofing my income and creating a stable, regular source of revenue. Ultimately, my goal is to build a secure financial foundation for our future family.
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[@viernes-5]

My common sense said that this let you worse that you are on first place.is a No No😮 Great video thanks 😊

[@gemmascott8806]

I have found that a 100% mortgage will mean that I pay less each month than rent, I will have no stipulations on how I enjoy the property in relation to pets (my current landlord charges extra rent per month per pet and bans me from having certain animals), I can remove the gas to the property and save on the standing charge when I don't need a gas supply, install solar panels to save on electric in the long term, I won't need to have the cost of taking time off work for the landlord to come and check the house or do works, and I can fix the house rather than patch it up and let the issue come back; which is my experience of landlords because they want to pay as little as possible for a repair even though this strategy is not cost effective.

[@presley_official]

I think before someone goes for a 100% mortgage or a HLV loans, they should ask themselves why they are buying this property and if they intend to live in the property for a long time. I think many people buy properties with the thought of selling the house within the next 5 to 10 years and moving, and they are looking at the property as an investment, they can cash on at a later date. If thats the case, then HLV mortgages are not a great idea because as you mentioned, there is a chance you will find yourself in a negative equity situation. If you are planning to buy a house because you need somewhere to live, and you are not looking to sell as fast as possible, then negative equity is not really relevant at all. Renting will never be better than owing, it's just a fact. When you get older, and you are not able to work as much, owing a property is a form of security, and no future renters reforms will be able to introduce this level of security to any renter.

[@kelly1827]

In the US the cultural expectation is ownership. Renting is often described as "throwing away money". However, the recent housing market turbulence has started to sway that opinion, especially when other factors like being able to relocate for jobs are factored in. If you own a home you'd be forced to rent it out if you wanted/needed to move. Personally I'd run quickly away from that Skipton style mortgage. A quick look at amortization tables for the 0% down versus a 10% down would probably show you paying almost twice as much overall in interest. And the huge risk of being what we call "underwater" in your equity 🤯. No thank you! It sounds even more expensive and risky as our balloon mortgages.

[@jordansheppard8454]

This is a very well thought out video, thank you guys.

[@PropertyCouple]

Thank you too!

[@Brooksie603]

I'm so glad I bought my house when I did. The cost of houses now is mindblowing. I don't know how younger people could afford to get even the fixer-upper homes for what the going rate is where I live never mind a move-in ready or new build.

[@PropertyCouple]

I worry for younger generations. Renting will be the new norm. And actually, I’m not even sure that’s a bad thing….

[@floweraiz8770]

It is true that it would feel like still being a tenant to the bank, but for example, you will be able to paint your house in the colors you like, or put a nail in the wall, or have pets, that whilst you are renting, this is not an option

[@donniebrooks21]

Interest rates are lower in the UK than in the US. If the market holds up then you could refi reduce the interest rate. Glad that u amended the numbers. Have a great week!

[@PropertyCouple]

The US usually leads the way and the UK follows....

[@bethmeredith]

You've both brought up good points and explained the pros and cons . Great video, thanks for sharing.

[@petsloveonly]

Unless it's a property you can house hack and rent part out for airbnb then this monthly ptm is doable then hold on for the long term

[@TrevorAngel]

Is the skipton deal still going?

[@jasthe3rd]

Glad to see you fixed the math error In the example, when the video was first released the 10% column was not quite right (but I still got what you were saying) 😉. That's what I get for watching it right away, lol. Good content though, very interesting.

[@PropertyCouple]

🏆

[@fruitdemer201]

Is this mortgage offered on shared ownership flats which are resold?😢

[@neutrino78x]

Lia, very interesting! Here in the USA, all military veterans get this deal; it's called a VA Home Loan. It was a big part of the GI Bill, which gave a bunch of benefits to people coming back from World War II (and all veterans who served afterward). Another major benefit is VA Health Care, which is basically the same as the NHS in Britain. Also there is free college, the VA will pay for your college as long as you attend less than, I think it's 10 years after you get out. Do you know if Great Britain did something similar for your veterans after World War II? 🙂 I have not taken advantage of the VA Home Loan because, though I live in Silicon Valley, I'm not in the industry....right now I'm making 22 USD per hour! Unfortunately not enough to afford a mortgage on an 800k house. Like I said, the median home price here is actually 1.7 million dollars! I could buy a mobile home or something I guess (or a house in like Kansas....but Silicon Valley and the Bay Area is home), but I want to get my income up a lot higher before I look at buying 🙂 I would say, probably the vast majority in the Bay Area are renters (I share a 1 bedroom apartment with a roommate). Owning your own home is probably the highest "class" of housing here. 🙂

[@PropertyCouple]

Very interesting! It's great that they are being looked after. Very interesting that the median price in your area is 1.7m.....that seems very crazy, and I do wonder how sustainable that is. Thanks, AK

[@BoBo-se9gw]

Good explanation video but still doesnt make sense to buy using one of these - the landlord being the bank charging more😂 still makes sense to just rent then - typical 1 mth deposit and a lot less than 1800 a mth per the example.

[@randombeatsuk]

Hi how would this work, my wife pays all the bills and I just pay my half every 4 weeks (when I get paid into her bank account) the only thing going out of my account is a mobile bill and Netflix

[@cookingandplaywithayaanand763]

Hi I no untested your example about the morgage . If I pay 1840 a month for how many years? Thanks

[@teknekon]

Very cool guys! Interesting. Love your channel! Thanks for all the helpful info! L&C 👍😘❤️🇬🇧

[@PropertyCouple]

Thank you for your continued support Tek x

[@36Niner]

Would you be able to do a BRRR strategy with this lending?

[@Beachbum471]

Finally some useful and informative information from you folks! I criticized you in the past for posting so many reels about the squatters… you really did over do it 😂 This is good and useful information now and more like what I expected from you as a viewer

[@MARKB3946]

So much useful information. But I guess it does come down to goals in your own life.

[@PropertyCouple]

Each to their own mark.

[@MARKB3946]

@@PropertyCouple Absolutely ❣

[@kandy8838]

Less equity though.

[@nieuwsma91]

I always find the differences interesting between places. Where I am at in the US, I find that rental prices are higher than a mortgage payment on the same property, utilities are almost never included in that price, and it is difficult to get the landlord to actually fix issues. There is such a difference in pricing that the 0 down option presented would be very comparable for renters on a property.

[@PropertyCouple]

Interesting

[@mphathisisibanda5408]

Thank you so much for taking time to make this video and share your knowledge free of charge. Is it possible to use this type of mortgage for business if you won’t need to live in the property for years?

[@PropertyCouple]

Hey, I’m confused with your question. Do you mean operate a business from the house with a 0% deposit and not live there?

[@ledout7733]

I think you're better off being a squatter .

[@toluani7690]

Haha nice one 😂

[@PropertyCouple]

I think someone did squat in their own property until their squatter left….

[@petsloveonly]

Time for subto students to step in 😅 @pacemorby to use seller finance 😀