What mortgage can I get? | 95% LTV Mortgages Explained & More...

[@PaulSmithTouchstoneEducation]

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[@johnporcella2375]

I could not keep up with the speed of that presentation, despite my accountancy background! It really needed a whiteboard and drawings and figures to make that more straightforward/accesible.

[@PaulSmithTouchstoneEducation]

Sorry John, I do need to slow down... thank you for the feedback. Paul

[@johnporcella2375]

@@PaulSmithTouchstoneEducation No worries! When I teach, I too speed up when I get excited about the topic!! 8-))

[@kimspeller5379]

i like the pic of your son puting up the light ! i hope to get my son involved in my properties when hes a little older. i think practical skills like painting, decorating electrics, plumbing, are important along with the financial skills.............and theres nothing wrong with a bit child labour ! lol :)

[@governsteve]

My goodness.... I’m overwhelmed Paul. Such unselfish knowledge, I love your money matters posts. Can’t wait to join Touchstone. Thanks a million.

[@PaulSmithTouchstoneEducation]

Thank you for your kind words!

[@01daddylee]

This is great I was educated by an American and they speak a different property language to the English, thanks Paul.

[@Magicalfluidprocess]

The paperwork filled in by the mortgagee is the currency , albeit in an embryonic form , money is literally borrowed into existence. There is no loan , only money creation

[@time4advancement244]

If there is no loan, then technically the 'borrower' owes NOTHING. How do we get our money back?

[@CarmelJane]

More superb advice. Thank you, Paul.

[@CoachPursuit]

Paul, slightly off topic question. Do you have any videos on how to minimise the inheritance tax on your property portfolio when passed onto your kids? Do you have a FIC set up? My accountant tells me my 'trading' company needs to be making more than my 'investing' BTL company under my holding company structure or trading group structure (not chosen which yet) for it to be passed on with Business Property Relief, so very little/zero tax. Keen to hear your thoughts. Cheers

[@PaulSmithTouchstoneEducation]

Hi Jasper, well done you, that is a first world problem. No I do not use a Family Investment Company (FIC), although that can be a useful structure. On our Mastermind we help people with this issue very often. I recommend you consult with an Estate Planner. Unless accountants are specialised in this area it can be costly to rely only on their advice. I saw this with huge respect to accountants, I love them and can prove it: I married one! Aniko qualified as a management accountant... We have a SSAS, which is a trust, so zero IHT and we also use LLP's. Please do invest in the right support! Regards Paul

[@CoachPursuit]

@@PaulSmithTouchstoneEducation Great, thanks. I didn't think to look into trusts as I was under the thinking that you cannot draw personal income from property that's held within a trust. I'll give it a thorough research. Thanks for the response!

[@silverback2715]

If I bought a house 40 years ago for 10k and wanted to gift the equity in it (day it’s worth 160k now) to my son/sister/neighbour does that mean they could effectively only have to pay me the 10k I paid originally?

[@PaulSmithTouchstoneEducation]

sadly not.... if you gifted it you will trigger CGT on your gain.. ie 28% of the £150k gain... you could start gifting a few thousand a year to them though and gradually give them the house....

[@jrwmetal1]

I’m confused on gifted equity….

[@PaulSmithTouchstoneEducation]

Whats confusing you?

[@johnjoe105]

Omg I wish I knew this, I have just switched mortgage deal and fixed for 3 years 🤦‍♂️

[@PaulSmithTouchstoneEducation]

Next time John! At least you know now...

[@johnjoe105]

@@PaulSmithTouchstoneEducation 👍

[@badassdahn654]

💯 mortgage 😱

[@deanoakford]

What kind of mortgages can I get if I live and work in dubai with no UK income ? My parents have around 120k in their london home equity and I have a UK company that doesn't earn any profit yet.

[@PaulSmithTouchstoneEducation]

What are you trying to buy?