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

[@Linsekj]

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. 😅

[@glorymemana5604]

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

[@nistilanstephen4067]

What's his contact number

[@jameskuriakoseu1761]

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

[@prittyabraham819]

Thanks for the information

[@alfredvincent7254]

Good content bro

[@Manchestermallu]

Very informative bro

[@goldenodyssey1]

Thanks bro

[@aravind7386]

Timing bro❤

[@sd8012]

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

[@nithinkrishnar4570]

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]

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

[@eldhoabraham309]

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

[@goldenodyssey1]

You can go with trusted ones anywhere

[@abrahamtalks]

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

[@SijuMarkose]

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]

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]

@@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]

@@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]

@@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]

@@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 😊🙏

[@sinidenny2202]

നല്ല ഒരു ഏജൻസി പറയാമോ...

[@Linsekj]

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

[@binoybhadran6270]

flat vangunna gunamaano freehold