NEW HOUSE Q&A | House Size? Paying Help To Buy Loan? Stamp Duty Costs?

[@fabandell]

We hope this helps you guys that are in a similar situation to us! Share it with your friends if you know anyone that needs it 🤍

[@shellywaloszyk8304]

I’m not from the UK but the USA I watched because I was curious in the difference of the process from US to UK. Y’all have become some of my favorites!!!

[@fabandell]

Thank you!!

[@MsMiissyy]

Thank you so much guys for your time in making this video. So transparent as always and so excited to see your new home! Very inspiring x

[@natalieg3516]

Thank you for this video guys! I followed you from when you first bought your new build. Love your story ❤

[@Lyn4817]

Try changing house with a distance of 1,709 miles / 2750 km driving between houses. We also needed a quick sale. Our first home was paid for so it definitely put us with an advantage of buying the house. Also we sold inside about three month from the buyer committing to buy our last house to settling, without listing our house, it was done by word of mouth but we had done so much to our previous house to improvements. We did end up buying the house I had found on the Internet prior to arriving in the new location. It was insane. When we arrived in town, the house was under contract but when it came back on the market it was due to the contract falling through by the other couple. The day we viewed our new house, we made an offer as the previous offer fell through. Fortunately we were the first ti make an offer after the contract falling through. Big tip to all with a mortgage. Divide your monthly payment into four and make your repayments weekly instead of monthly. You save heaps on interest payments as your paying off principle as well as interest. In the majority of cases paying one monthly payment, the majority of your monthly payment is virtually just paying the interest. Paying weekly does creep you ahead in your repayments. Any excess cash you come into, if you can afford it, put it onto yourn mortgage. Try to ensure if you are well ahead in your. Payments, if you have difficulties, talk to the bank on lowering your repayments inline with the balance of your outstanding debt. If you find your unable to cope, then go in, sit down with your bank and start talking things through as what arrangements can be made, being in front with your repay. Never bury your head in the sand and ignore your loan. Our last house we paid our morg off in a bit over five years, down from about twenty years but we didn't over extend. With this house, we paid it off fas by putting every cent into the replacements. Once again we were dbt free in a very short period of time. Yes we went without holidays and going out too eat etc but its only a short term of pain for a huge long term gain. You do need to ask the question that by paying off your morg quicker, would their be an early exit penalty. If there is, then simple draw out your final payment so your paying minimal payments until you can clear your loan without penalty. I hope ever can understand this. It will literally save you thousands in the end and be debt free as far as your house goes. You can do this with all bank loans, such as car payments.

[@gillianfitch3056]

I was actually quite nervous watching the McDs on the sofa 😂 But congratulations on your move, looking forward to further house updates (how exciting!)

[@benjaminc1816]

Stamp duty is sickening - I’m a few weeks from moving and thankfully Liz Truss has reduced stamp duty saving us £2500 - Still over £21k to pay to the tax man though… 😢Good luck in your new home!

[@fabandell]

It’s awful isn’t it! Such a huge amount of money!

[@fa6534]

Y’all are so adorable. Very insightful as someone from and lives in another country how different property purchases are.

[@kellysteel3668]

Such a helpful video and appreciate your openness! We are currently repaying HTB but via remortgage and it is a process even that way. Never expected the extra fees and timescales. Remortgaging is scary at the moment too - crazy times! Congratulations on the new house, hope the move went well!

[@SophieSmout]

That’s so good that you had 42k equity in a year and a half! We bought our 2 bed new build for 192k last year and borrowed 10% of the HTB equity loan and we want to move in the next 3 years. Just hoping that it increases a lot in time as we will have to repay our HTB when we sell. I’m sickened about the stamp duty & the mortgage exit fee cost, I never knew about those!! Thank you for all the tips! So excited for you both 🤍

[@1mspruell]

Love you guys! Followed you for a while now! We’ve been waiting since end of February when we sold our home we hope to move to our new build final family home within the next week! Couldn’t agree more on finding a great solicitor, we are passed frustrated at this point! Now I want a McDonald’s literally sat drooling over the thought 😂 can’t wait to watch you in your new home as a family of four! X

[@fabandell]

Aww good luck with it all!! It can be such a stress! Xx

[@courtneyoneillviolin]

Hi

[@ollieperkins257]

Great video! We’re FTB due to move in 2/3 months, and the stamp duty holiday now in place for FTB again has saved us £4K!

[@1foxtrotfan907]

I'm not buying or selling a house also I live in America but I enjoy you both so much I watched the whole video and thought it was great. Have a great day. And yes can't wait til house tour.

[@fabandell]

Awww thank you so much!! Only one more day :)

[@2atthirtytwo]

Can’t wait for the house tour!! 🎉 I’m not moving yet but this is good to know for whenever we do as we’ve got a new build and had the help to buy loan!

[@sarahredman8384]

So excited to see the new house tour! 🎉

[@denisebucknall1591]

You explained it really well 👏 So excited to see empty house tour 😍 🏠🥰 excited for you both ❤️

[@gwynluv5447]

This was really interesting because I live in the US. I'm sure we have the same fees with just different names but the market is crazy. This was great information in general. Because I'm watching this after your moving vlog I can say you guys picked a wonderful home for your growing family. It will so fun to see you and the boys just being a family. Love from Oregon.

[@Sarah12353]

Appreciate the honesty guys! Very useful information. I got stung with an early exit fee from my mortgage and at the time apparently porting the mortgage would have been just as expensive! So excited for the next vlog 🏡

[@danniemarie7723]

So much amazing infomation❤ stamp duty is a pain 🙄 i’m so glad we moved into our 4bed home to be our forever home too 💞

[@Charlotte-fs2gs]

Hey, this is great advice! We brought our 1st house last July new build and we sadly put down a 25% deposit down as we were not able to get the help to buy. The stamp duty is crazy and expensive. We brought ours in the stamp duty holiday. That's fantastic about your solicitors 👏🏼 ours took 10 weeks from start to finish exchange and complete and that was with my husbands family solicitor. I can't wait to see your new house. I wish you all the best in your new new house! 💙💙

[@fabandell]

I mean you're better off in the long run from putting the bigger deposit down and not having to pay them back when you sell! Amazing, you defo need a good solicitor to make it as stress free as possible :)

[@Charlotte-fs2gs]

@@fabandell It's worked out well for us. I can't wait to see your new house! It sounds lovely and perfect for you both and your two little boys 💙💙 have a great week.

[@AnnMarieG]

I found your channel originally because you'd bought your new build, and I love watching moving vlogs, so I can't wait to see the new house and see what you do to it... and meet the boys, your going to be great parents. 😘

[@fabandell]

Thank you! 🤍

[@ri9596]

Love how honest and sincere you both are. Xxxx

[@charlottebisby701]

Can’t wait to see the new house!! So happy for yous, good luck!!

[@lindarookes7741]

Cant wait to see your new house so happy for you both 🥰

[@NBS_Haywardx]

Eekkkkk so bloody excited for this video and the upcoming house tour 🥰 congratulations both on your new adventure, literally can’t wait for all the content to come. Watching your video in bed at 9:45pm and started craving a macdonalds so my husband said to get dressed and took me on a late night drive to get some food x

[@fabandell]

hahah love this!! Saw your IG story 😅

[@steven_locke]

Oh gutted for you guys as you just missed the Stamp duty tax changes, same thing happened to us at the beginning of the pandemic… could have saved 5k 😅… Ellen is just like me and just takes charge with the solicitor stuff… well done guys it can be a nightmare moving. Keep up the good work!! X

[@janicealexander3223]

Can’t wait to see your new home!!!!!

[@nealsullivan5359]

Thank you for this video, it was super informative! We’re in a similar position, HTB loan, starting a family and to hear about the experience, the fees and what’s involved is seriously such a big help! And kudos to you both for dealing with everything! Love watching your story unfold and can’t wait to see the new house. Thanks again 😊

[@courtneyoneillviolin]

Hi

[@nancypatterson374]

Love seeing you guys so happy about your new house. America’s housing market is crazy now, everything is much more expensive. We live in South Carolina and our neighboring state Florida is dealing with a monster of a hurricane. Prayers for them, we will be having the effects from the storm in 2 days. Will be looking forward to seeing your forever home! ❤

[@fabandell]

Omg :( stay safe 🤍

[@Dazalton]

We were very lucky. We moved to our family house after the lockdown and we saved so much money as it was a stamp duty holiday!

[@fabandell]

Nice!! That was a great scheme to help people

[@hannahhuxtable7360]

Love watching you guys, I’m getting all caught up in your excitement! Can’t wait to see the video on Thursday, enjoy your forever home 🎉❤

[@tinapoole2540]

Thanks guys I am not in your position but you have answered all my questions about more than help to buy, good luck with your little magic torches (babbies) and congratulations on moving onwards and upwards to your new home, can’t wait for the house tour🤗xxc

[@deliahiggs1752]

You guys were really prepare for home shopping, looking forward to the house tour

[@fionaburke2288]

You are like two kids with some new sweets, so so happy for you xx

[@maureenlowther7621]

You have explained things thoroughly and you look so happy, it’s good that you have bought a much bigger house now you won’t have to move again. Can’t wait to see your new house. Ell have you now finished work or are you still going to school.❤️❤️❤️

[@fabandell]

I am still working, I finish in about 4 weeks x

[@Hmajithia1]

Thank you! Love your videos. I started to follow you guys when we started to look for our first house. Im so excited for you guys. Cant wait to see the new house tour! And meet the twins! Al you looking so beautiful ❤️💐💙

[@anaguerreiro6497]

I’m so happy for you guys, I found this video very helpful especially the Help to Buy questions as my parents and I have bought a house and used the Help to Buy Hope you guys are enjoying you new house ❤

[@fabandell]

Glad you found it helpful! 🤍

[@nizma88]

so much hidden cost, we are like i have said before buying our first house and we finally have our completion date :D Can not wait to see your empty house tour

[@carlapaice9897]

So excited to see the new house! Would you possibly be able to share your solicitors details as we have just put an offer in for a new home and would be amazing to choose a recommended one! ❤

[@charlottelouise9594]

Far too excited for the house tour!! 🤩

[@fabandell]

Eeeeek 🤍

[@rebeccatappin7176]

Best of luck with the new house guys! X

[@maureenkristofco621]

I have been following you two for a little while now and although my next move will probably be to a nursing home or a funeral home ( lol… true but still funny) I so enjoyed watching this video. You guys are just so cute and easy to love. Best wishes on the new home .. look forward to the tour!

[@fabandell]

hahaha thanks Maureen!

[@KayGardinerAndrews]

I'll join you Maureen 🙂

[@courtneyoneillviolin]

Hi

[@pjcat3522]

Wishing you a happy and healthy life in your new home🌻

[@janetrobichaud602]

You both sound so 😊 happy! Can't wait to see your tour. Being close to family will be so wonderful. I can't wait..lol Gram from 🇨🇦 Enjoy and don't push yourself momma..💙💙

[@julie-annpistell1511]

Hi lovelies, I’m so excited for you, I can’t wait to see the new house 🏡 bless you, it’s just wonderful to see the happiness and excitement on your faces ❤️ I already know that you will make it a lovely family home for you and your darling boys ❤️ Good luck with everything and get plenty of rest when you can. Bye for now, much love ❤️ xxx

[@mollieharris347]

Ok got it basically don’t move out🤣😅! It’s too much money and stress, but we’ll done for moving onto bigger and better things and least one thing is done before the boys are here xx

[@welcometoplot6936]

Great video guys, can’t wait to see the empty house tour 😊🤪

[@janestaples4231]

Aww can not wait to see your new home 🏡☺️xx

[@abikatie3164]

Hey if you feel comfortable enough saying, what were your total costs, eg. Solicitor fees, stamp duty, deposit etc everything total xx

[@patseemore5019]

So excited for you!

[@lucygale336]

Sorry it not me it the mayo 😄you guys are lush and always make me smile 😊 thanks for sharing 👍 ❤️

[@sophieunderwood6335]

If you completed on Friday which i think you said you were- which we did- we claimed our stamp duty back! Getting paid ours back within 3 days :) as the law changed on Friday about stamp duty 😊😊

[@Anastasia-tl6if]

Congratulations on all of the exciting milestones you guys are hitting! Did you mean to say 17k for stamp duty or £1,700? We’re looking to buy our second home so would like to know the rough costs!

[@fabandell]

£17k unfortunately!

[@donnajohnson4944]

Is it Thursday yet ? Can’t wait 😃xx

[@katiewilliams8640]

Did you consider porting your mortgage rather than exiting? That would’ve avoided the 4k! 😳 love watching you guys! Congrats again on the new home, can’t wait to see it!! X

[@fabandell]

Yeah we weren’t allowed to because of the rise in interest rates and something else. Our only option was to exit x

[@katiewilliams8640]

@@fabandell omg that’s terrible!! I didn’t even know they could do that! X

[@judithpaulus4129]

Good luck guys! So exciting! Would you not have been able to transfer your fixed mortgage to the new house and add another mortgage to cover the difference?

[@sophieowensxx]

I’m not moving any time soon (well I hope I’m not😂) me and my boyfriend have just bought our first home this year (a new build) but this is very interesting and good to know for in the future if we do move. There’s a lot of fees you don’t even realise exist or forget about!

[@raphaellenwolley5985]

Really good information. Thank you

[@shaunawilliams1603]

With the H2B loan you had to pay off, was this a mixture of equity from the house and savings ?? And then did you have to pay the deposit with your savings or left overs from the equity ?? Hope this makes sense!!!

[@bridiewright1519]

Hi guys hope all ok, we've moved every 2 yrs since 2015, dread to think wot we paid out stamp duty, solicitor and estate agent, hope you're in new home soon xx

[@ETylerJC]

New to this channel. Wondering when the twins are due. Thanks for the great vlogs 😊

[@fabandell]

Welcome! They are due in November 🤍

[@keedywebber3840]

Great video. Can I just ask is stamp duty something which you have to pay upfront or can it be taken from the equity of your house? Also with the exit fee do you still have to pay it if you go with the same mortgage provider?

[@fabandell]

You have to pay it up front I think. Yeah you do, we had to unfortunately.

[@stealthy3000]

So would the initial asking price have been around 600k then minus deposit etc there’s a lot of things they don’t explain when buying isn’t there. Looking forward to house tour :)

[@tracyjohnson3596]

👏🏻👏🏻👏🏻come on thurs , empty house tour🏡🎉

[@misso6201]

What’s the company of your solicitor looking into the process

[@laurenmargaretdavies9552]

We are not moving but we are in a shared ownership property but it was really useful :)

[@darlenewebber7706]

Can’t wait🎉❤

[@mollyhope1450]

Thank you for this ! Me and my boyfriend got our offer accepted for our first house in May this year and still haven’t even got the keys ☹️x

[@fabandell]

Wow that sucks!! Sorry to hear that

[@oliverbull1622]

Stamp duty for first time buyers is free up to £300k, 5% on anything left over. As off middle off last week, (sept 2022) first time buyers don’t pay stamp duty up until anything over £425k

[@fabandell]

We aren’t first time buyers but we didn’t pay it on our first home as we were first time buyers

[@juliebrooke6099]

Due to the mini budget on Friday ( I think the day you were moving) lowering the stamp duty (or stopping it altogether) have you managed to save some money or will you get any back? If you don’t even know anything about it because you were too busy moving, please look into it - maybe ask your solicitor.

[@Emjay89]

Don’t think they would be entitled to anything back as they would have already exchanged contracts prior to the lowering of stamp duty

[@cullenist1234]

Fab. you mix your ketchup and mayo? we do here in utah in the US and we call It Frysauce. I also like to use instead of ketchup try BBQ sauce. its so good.

[@fabandell]

Yesss I love it and I have tried both!

[@johannagallagher5855]

Lovely video x

[@132emma]

And the RICS report has an expiry date. I ended up having to get another report done as the help to buy turnaround times were ridiculous at the time!

[@fabandell]

Yes it does!!! 3 months! We should have stated this! Thank you

[@calvinliu6304]

Love you guys so much

[@10000Chloe]

How much would you say you need to have saved up to move into a 4 bedroom house from a 2 bed new build?

[@fabandell]

There's lots of variables to that like the house price, how much deposit you want to put down, do you need to buy furniture, how much equity do you have from your house etc... better to chat to a mortgage advisor and they can give you an estimate :)

[@profgriswald]

You not doing another Moving Vlog? Just jumping straight to the house tour?

[@fabandell]

Empty house tour first and then moving vlog :)

[@profgriswald]

@@fabandell Yes! I absolutely loved your First Time Buyers series. It’d be interesting to see my stats on how many times I’ve actually seen it 😂. Congratulations on the new house, you’re going to be absolutely incredible parents ❤

[@StartMan09]

.With the HTB, did you save or remortgage?

[@fabandell]

We used some of the equity gained from the house to pay it off

[@Allietracks]

Is that your new house in the picture?

[@danyalexys4956]

Why did you have to pay an exit fee on your mortgage, didn't you take your mortgage with you and just add on extra? I think it's called "porting" a mortgage.

[@fabandell]

We looked into this however we were told we couldn’t do it by our old mortgage provider. I think it was something to do with interest rates, it was written in our terms and conditions on our old mortgage.

[@Lee_Anne123]

They don’t do the Monopoly in America anymore because they did a Netflix documentary on how it was rigged so I’m kind of mad that we don’t get to play Monopoly anymore ❤your favorite American

[@junelane5518]

Happy vibes

[@elc193]

Great vlog. Thanks for sharing. Cant wait for the house tour. Best from Canada.

[@fabandell]

🤍🤍

[@maamearthur]

Can you please share your solicitor’s details 😊

[@fabandell]

We will ask him if he would like us to share. We will let you know x

[@TimWilliams2795]

I never want to buy my second house 😭 all those fees 😅

[@fabandell]

They don't make it easy

[@col25]

How are you affording everything, wedding, twins bigger house, I know you both work but must be costing an arm and a leg. Congrats though.

[@gabriellasparrow5421]

Did you not want to port your existing mortgage over? We are in the process of selling our first home (new build) and buying our family home but are porting our 5 year fixed rate mortgage to the new house, saves on exit fees and secures the low interest rate!

[@fabandell]

Have you managed to get this confirmed? We thought we could do this but they wouldn’t allow us:(!

[@gabriellasparrow5421]

Yes we have our new mortgage offer which has 2 parts to it, our ported mortgage and our new mortgage. Such a shame you couldn’t do this but lucky you moved before further interest rate rises, silver lining! X

[@emilypollard711]

I believe all surveyors have to be RICS.

[@maryslater4703]

Whole lot easier in US.

[@fabandell]

It probably is, the UK makes everything more complicated 😂😂

[@courtneyoneillviolin]

❤❤❤❤

[@kathreilly7050]

💜

[@amynash4672]

💙💙👍

[@y.lelivelt2619]

I'm a 61year old lady from abroad. This is not for my age anymore so.. byee

[@Osk94]

£17k stamp duty 😱😱😱

[@neojng]

christ your new house was expesnive!

[@harrisonshaw513]

how did two such young couple buy a £600,000 home? Inheritance surely?

[@fabandell]

This house wasn’t £600,000! 🤣 and we are both 27! Hardly young.

[@harrisonshaw513]

@@fabandell my bad! i did an online calulator and it said a stamp duty of £17,000 was £600,000 I was realy surprised. And hey! im about to turn 27 its still young

[@naomishaham4304]

Is it the only time to make Q&A with mouth full l of food? I find it Un polite.

[@fabandell]

😂😂🐷

[@THINKINGEIREANN]

You should’ve paint especially with the fumes been pregnant. Please mind your self

[@fabandell]

Hi please have a read of this - taken from the NHS website! It’s perfectly safe with the paint we are using. www.nhs.uk/common-health-questions/pregnancy/can-paint-fumes-affect-my-unborn-baby/

[@brunette165291]

Many many years ago this was true but now all paint is water based so stop your scaremongering

[@lynn7854]

Please be careful about painting while being pregnant. They frown for people that are pregnant

[@fabandell]

Hi it’s perfectly safe 😁 - this is from the NHS website. www.nhs.uk/common-health-questions/pregnancy/can-paint-fumes-affect-my-unborn-baby/

[@brunette165291]

Many many years ago this was true but now all paint is water based so stop your scaremongering

[@lynn7854]

@@brunette165291 well it is better to be safe than sorry. I wasn't trying to be mean but you were so if you can't say anything nice than keep your comments to yourself

[@GenevieveGarbutt]

talking with a mouth full of food was rather rude in my day just saying

[@grgardenretail3992]

Looks like your egos (ells) has the overtaken common sense. An asking price of 600k a mortgage £540k for what? Zero financial freedom for up to 35years. The most irresponsible, careless financial decision one has ever witnessed. When I see the house I’ll see years of tied down day in and out to pay something that is only an item the true cost stress and work and freedom. Negative equity is extremely likely in your case I just hope you know what your doing..

[@DanGString]

Never understood why people feel the need to sheet on other people’s parade… at the end of the day, a you can only borrow up to what you can afford… if it’s your forever home, you don’t care about things like negative equity.