99% Mortgages Are Back - HUGE NEWS!
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- čas přidán 4. 05. 2024
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In this video Samuel talks about the new announcement on 99% mortgages. Are they good or bad for property?
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99% mortgages don't help people buying properties... They help people who sell properties
Who are those people they sell to? Buyer’s obviously 😂
Those who can afford the 99% mortgages are on a good income and have always had the option of being able to afford to buy. It’s the people at the bottom of the income range that face the most difficulties and will continue to do so.
@@ORIGINAL786dodi if you know there are more people that can afford a property because of this 99% scheme then the prices go up...
I agree that it will still be the same people who can afford a house as the bank will still want to know if you can afford the repayments.. if you earn £30k - £40k a year there is no way a bank is going to lend you £390k for a £400k property. The most they would offer is £150k
Benefits the government once someone sells CGT! lol government not here to support people
@@ORIGINAL786dodi Agreed, I'm one of those "who can afford it". Let me first say it makes me sick that this country thinks it's acceptable for people to spend so much of their monthly income on a mortgage, Other than Australia we are the worst in the world, and our properties are TINY and badly built with much neighbour noise. Btw, it's not 5.99% it's 6.27% and it's a good product. It's also no fees, which are thousands more upfront. Why would I want to fork out over 12.5k+ for a deposit to get a 95% LTV, or double for a 90% LTV, when my investments appreciate much faster than property? Also, for what would I get a 95% or 90% LTV for when it's only half a % less? This lady is a professional lol? She talks like rates are still at < 1% for those with 95/90% LTV, she should go check the mortgage calculators the % are almost the same as the 99% LTV. A couple hundred quid a month (at most) is worth not having to pay such a huge amount upfront. Mortgages aren't worth the deposits, sorry. This product I can accept, I'm willing to give up 5k purchasing power / opportunity cost to get a mortgage, providing I get one I won't need to move from again so that the bankers don't rip me off from amortization. I also get to keep all my assets as an emergency fund, why would I want to liquidate them now and spend everything I have on a deposit for a 90% LTV it is utterly nonsensical. The people QQing are the people who wasted their money on such huge deposits
I mean, the idea of a mortgage in the first place is that you are letting a bank make more money through lending, than either the people who supply the goods and services to build the house, or the property owner that actually owns the house.
It is the type of usury that Jesus himself took whips to the moneychangers in Jerusalem for.
Perhaps the most pacifist person in history.
Disband banks.
Put 0% lending in government hands and stop gouging the poor to the point they will never own anything.
A real voice of reason from Kelly, so refreshing to hear the risks being presented when stretching, great show.
99% mortgages are for a very limited amount of people. Bankruptcy is never far away. Sadly.
Hey Samuel, I have been watching your videos for almost a decade now if I am not mistaken. I love how you do your videos, they inspire and give give motivation to everyone. I am not as established as yourself in property but I have been involved in property for the last 10 years or so and can relate to your videos to some extent. We recently done a video on the 99% mortgage as well and had similar thoughts to what this video has to offer. Great stuff and hope you continue more great content like this for years to come :)
Oh and my Wife also thinks what you are doing is great too and you inspire us with our *CZcams channel too*
Love these debates. The best way to learn is to hear two professionals fire away from both angles
I'm looking to get my first house soon, thanks Sam for this video I would appreciate more like these!!
Buyer beware:
In a difficult economic time, they bring back 99% (100%) mortgages.
Maybe it's because they think a price crash is coming, but they'd like you to sign for (and pay for) the property at the current (well over priced) figure.
Don't fall for it.
Wait for the crash.
Unlikely there will be a crash, think about when interest rates come down, property will sky rocket again. Now is the time to buy
@@cxg101 imo UK properties are ridiculously overpriced. That illusion is based on the masses being asleep. And I think that every Tom Dick and Harry are being rudely awakened.
exactly look at the 18.6 year property cycle.. panning out just like it has before with these 99 percent mortgages coming back lol
no, not a difficult economic time. It's a difficult time of tyranny of our governments world wide trying to gain everything illegaly while the people think it's legal and government has all rigths. But we the people have the right and are in charge, we pay the government, we also can stop funding the pricks and create a new system in smaller towns governing themselves with a transparent tax system that makes sense and no overpaid dudes and less bureaucracy to save billions
the stoke on trent idea is amazing Samuel - there is some gold in staffordshire after all lol
I love her positivity
I love your videos, have leant so much from all those advises. Thank you ! I wonder if you could you make a video about how to protect your asset and your company after the dead of sole director shareholder, who would be in charge and running the company, what happens to those investments in that company and what to do now to avoid the disaster whicj will end up of loosing everything ? It’s one of most important element and not many CZcamsrs mentioned it on here. Many thanks !
Love the mentions of income protection, seems so simple, but people I speak to never want to take it, even after showing them how they would be covered.
It’s a £5000 mortgage up to 500,000, so if you borrow £100,000, it is still 5000 if you borrowed 150 thousand it is still 5000 and you can borrow on this mortgage anywhere from 100,000 to 500,000 so it’s a 5% mortgage up to 1% mortgage
correct
Great video. Would be nice to know what the affordability is.
I love it!!!
This is what civil discourse and debate sound like, props 👏
Samuel been hitting the gym
I dont know about anyone else but I am certainly looking at this as a prospective buyer first time as well, £500 a month on mortgage! frickening Hell Yeah! I'm paying £700 + on my 4-bed house from the council!
what sort of house price with only a 5k deposit would allow the monthly payments to be as little as £500? even a property of just 100k with a 5k deposit over 25 years at 5.99% interest would be over £600/month mortgage.
Property tax😮😮😮 same here in Germany!!! Nobody can afford mortgages here.🏴🇬🇧👍👍
even though its called the "99% mortgage" i believe one of the factors is that a minimum deposit of £5k is used as a deposit..
When a person pays off their mortgage they get a piece of paper from the bank that says "proprietor", proprietor means LEGAL owner NOT lawful owner. Any property bought on a mortgage is owned solely by the bank. Anything bought on a bank loan is the banks not yours.
Until it's paid back in full (with interest) - then I agree😁
I think it’s great someone in London would be paying £2000 in rent and it is almost impossible to save for a deposit. The mortgage will be similar to the rent. They can clearly afford it because they’ve been renting for the last 10 years.
This should have been longer I'm interest to hear her perspective
There is an obsession in the uk to own a house but in the states many people are choosing to sell their houses to live a minimalist lifestyle and living in vehicles the size of a Ford galaxy etc and travel to get a better work/life balance etc Many people today just to buy a house will have to work 40-60 hour weeks for 25 years just to be able to afford the mortgage when there are better investments than a house these days
Helps when you have more land than you know what to do with.
You can't live like that in the UK without being persecuted by the local authorities and the public unfortunately.
This has always unsettled and astounded me.
Sorry, how the hell are you gonna cook a meal or shower inside your vehicle?!
I lived in stoke on trent for 3 years... its really not where you want to spend any chunk of your life if you can avoid it
When things appear to be too good to be true then they are!
That lodger will want the heating on day and night.
No one would want to buy to live in Aston though Samuel you have to consider that too.
London is just not a good place to invest in property
Go for 99% mortgage if you have investments worth at least double what the house is worth. This way you got some passive income to pay off the mortgage.
sorry i didn't understand. Please give some example in detail. Thanks
This is what brings about the 18.6 year property crash. Its been happing for 100's of years let them at it.
As an investor these are the road signs to watch out for.
Lenders need to lend and they lend to the finacaly weakest in society they will turn good hard working people over to do so.
Be ready with cash to pick up the peaces when it dose happen.
there are always risks, it's called life. But I think we the people shouldn't accept the government trying to steal our money with stamp duties, higher mortgages etc. the cost of living crisis is better called "a failed government crises". They like to word their own crisis as if they aren't to blame. it needs change and protest and a revolution.
This lady doesn't know what she's talking about. First of all it's 5k deposit minimum (you can't put down just 1k for a property), it's also no fees, saving thousands more. Second it's 6.27% not 5.99% and the rates are almost the same as "normal" 90/95 mortgages which are also 5.5%. Third who is more likely to get foreclosed on? The person who only spent 5k of their savings on a deposit, or the one who wasted 30k? Who still has an emergency fund? Smh
Oi i dont want Londoners moving to stoke
Don’t worry no one willingly is moving to Stoke 😂
I'm deffo gonna stoke up on properties there!😅😅
Samuel why you keep banging on about London😂😂
Which is a special case...
You're from Leeds why don't you tell us about some place like Leeds mate!
I’m not from Leeds it’s just my surname lol
Wait, 99% instead of 90% or 95% mortgages?
I don't see mr Rothschild upset about that policy✓😊😊😊
Young people are shocked by 6%, cos they're used to artificial/subsidized rates.
The problem is the massively inflated prices.
If property prices were reflective of the population and their incomes, 4-6% would be fair.
But with prices double what they should be, that rate doesn't work for most.
Cheers
people will fall for these 99 percent mortgages, take one out and then when the crash comes theyll be stuck
Did this in the early 2000s . 100%. Mortgages, Self certification mortgages . Crash is coming
what do you mean?
Jesus Christ, fire or retrain your social media team.
No link to the CZcams on the Instagram bio or the comments where this was promoted, and the top of the description on this video is all over the place with placeholder text.
The video title hasn't been mentioned in the posts and the title doesn't even allude to this being a debate.
Just the little things.
Right, now onto the video.
Actual video is quality. Great audio and video quality, great back and forth, excellent info.
Good stuff, thanks both 👌
It’s the last rattle breath of a dying housing market. Be patient people, don’t overpay, don’t over borrow, and wait… you’ll see 😊
wait for what?
its just a trap
False economy, just giving the rich enough time to sell before crash