Hi Alex, just brought my first house, completion is Wednesday. Been watching your videos when I was preparing for the start of my process and through it, all your videos are brilliantly explained so thankyou for helping me out. Keep doing what your doing and all the best too you! 👏
Hi Jamie, so glad to hear that amazing news! And congratulations and good luck for Wednesday, thank you so much for watching and you’re really kind words, it means a huge amount!
This is a great video Alex. Ive commented on a few of your videos previously. I'm learning alot from doing these videos. I know its the biggest purchase & commitment of anyones life. However its always a good investment
Hi David, thank you for watching the videos. I really appreciate your support! The next one is due this Thursday, and is about remortgaging for the first time… Yes, indeed, long-term property always seems to be a very good investment!
A new build property we love has come on the market we love. We have a 5-10% deposit, however my partner is finishing uni and therefore has a job contract and salary for a July start date, and I myself am starting a new job this week. With our new proposed incomes we would need just under 4x our combined salary. Would it be impossible to get a mortgage based on contract
Superb advice. Have your house (excuse the pun) in order so that when there are hold ups it’s not of your doing! We had a great relationship with our conveyancer - she was superb, on the ball & jumped on things when needed. However, there were challenges with the seller. If you’re getting incorrect information or feel misinformed, my advice is much the same as Alex’s - keep calm, be professional & if these issues persist, take your concerns to a more senior level. This worked for us & things progressed fairly smoothly soon after. Great video, well done.
Thank you very useful videos. They are truly eye-opening. Can one’s address be registered on the voters’ role if he/she is not a British citizen? Someone who is a temporary resident in the UK.
Hi Alex, I have a quick question around income to debt ratio. I have a pcp car loan with a balance around £20k with my income being £32k. My partner has a pcp car loan with a balance around £24k and an income of £44k. Neither of us have any other debt. Will this cause an issue? We’ve done a mortgage in principle and declared all this, however we were able to put this will not be paid back in full (or something along those lines). It’s the only area we’re a bit concerned about and didn’t think much of it when taking these pcp’s out.
Lenders act differently, but a high debt to income ratio can be an issue, especially if it’s over 40%. I think sometimes car finance doesn’t show the balance on your credit file, and therefore they may not see it as a debt balance and therefore just use the monthly payment, I would check your credit files to see if the car finance shows a balance on your credit file, and if so, then Mortgage Lender would probably take that into account.
Hi Alex, hope you are well! Would be great to get your thoughts on the Housing Market at the moment? I’m a first time buyer and everything seems a little heated (expensive) at the moment. Think house prices are up almost a quarter…do you suggest waiting a few months to see how the land lies? I know you can’t time the market but just very expensive at the minute! Cheers, Marc
Hi Marc, thanks for watching! You never know what’s round the corner… Prices could come down, or something could happen which means you can’t buy a property for the next decade… I always say if you have an opportunity to get onto the property market, then take it… Long-term property always delivers irrelevant of what happens in between. I hope this helps!
Thank you Alex for another informative video. My offer has been recently accepted but the seller has not found. We were aware but in hindsight I'm now worried as I've instructed my solicitor, applied for a mortgage and paid out for a home buyer report. Should I hold off things until the seller had found a place or carry on. I expect this is a difficult question as no one can predict what will happen. TIA
I’ve been asked about my petrol cost however I work from home should I be worried about this and will they use the petrol cost into affordability as it was just me enjoying travellers which is not necessary to continue doing if I buy my home
@@alexkerrmortgage Hi thanks for clarifying I’ve been told today that I pass affordability which is great just waiting to hear about their decision now after checking a final signed document I sent
Hi Alex, great video as always. I was hoping to get answer for this one please; would investing on Stock and Share ISA every month seen as negative during mortgage application? And would it effect my affordability?
hi alex i am about to fill out my tax return on april the 6th. is there anything i need to know specifically about this, for example can i print of my tax calculation once payed, on the same day ? i love your content and have followed all of the videos regarding first time buyers ! thanks
I would just focus on getting it submitted first… You can always print out or download the forms you may need for a mortgage later on. For your reference it’s a good idea to save the SA302 and tax year overview documents once you have submitted your tax return as this is what the mortgage lenders will want. Thank you for watching the videos!
Sorry for the delay! Family boost is where your parents would set aside money in a savings account for you towards the deposit and you would pay them back in your monthly mortgage payments… Springboard mortgage is with Barclays and I would take parents income into account to help with borrowing.
Yes indeed but completely different rules will apply! It’s all to do with how long you’ve been doing it continuously And what type of set up you have… When you want to discuss your mortgage options just get in touch and we can chat through it!
Hi Alex. I’ve had an offer accepted on a house. I offered 10k above the asking price but it still seems a fair price for the area. What are the chances of it being down valued?
It's in the borderline... Hopefully you will be okay but it's so difficult to predict. I don't know anything about the property itself, if that's priced a bit too high or if it's come down in price etc - you just need to try and rely on your agent to help you. Did it get accepted?
Hi Alex, just brought my first house, completion is Wednesday. Been watching your videos when I was preparing for the start of my process and through it, all your videos are brilliantly explained so thankyou for helping me out. Keep doing what your doing and all the best too you! 👏
Hi Jamie, so glad to hear that amazing news! And congratulations and good luck for Wednesday, thank you so much for watching and you’re really kind words, it means a huge amount!
This is a great video Alex. Ive commented on a few of your videos previously. I'm learning alot from doing these videos. I know its the biggest purchase & commitment of anyones life. However its always a good investment
Hi David, thank you for watching the videos. I really appreciate your support! The next one is due this Thursday, and is about remortgaging for the first time… Yes, indeed, long-term property always seems to be a very good investment!
Great info. Thanks Alex
No worries, thanks for watching!
A new build property we love has come on the market we love. We have a 5-10% deposit, however my partner is finishing uni and therefore has a job contract and salary for a July start date, and I myself am starting a new job this week. With our new proposed incomes we would need just under 4x our combined salary. Would it be impossible to get a mortgage based on contract
Hi Sarah, it’s not impossible, It depends on what you were both doing before these current positions?
Superb advice. Have your house (excuse the pun) in order so that when there are hold ups it’s not of your doing!
We had a great relationship with our conveyancer - she was superb, on the ball & jumped on things when needed.
However, there were challenges with the seller. If you’re getting incorrect information or feel misinformed, my advice is much the same as Alex’s - keep calm, be professional & if these issues persist, take your concerns to a more senior level. This worked for us & things progressed fairly smoothly soon after.
Great video, well done.
Thank you very useful videos. They are truly eye-opening. Can one’s address be registered on the voters’ role if he/she is not a British citizen? Someone who is a temporary resident in the UK.
If you have permanent right to reside or indefinite leave to remain then you can.
Hi Alex, I have a quick question around income to debt ratio. I have a pcp car loan with a balance around £20k with my income being £32k. My partner has a pcp car loan with a balance around £24k and an income of £44k. Neither of us have any other debt. Will this cause an issue? We’ve done a mortgage in principle and declared all this, however we were able to put this will not be paid back in full (or something along those lines). It’s the only area we’re a bit concerned about and didn’t think much of it when taking these pcp’s out.
Lenders act differently, but a high debt to income ratio can be an issue, especially if it’s over 40%. I think sometimes car finance doesn’t show the balance on your credit file, and therefore they may not see it as a debt balance and therefore just use the monthly payment, I would check your credit files to see if the car finance shows a balance on your credit file, and if so, then Mortgage Lender would probably take that into account.
Hi Alex, hope you are well! Would be great to get your thoughts on the Housing Market at the moment? I’m a first time buyer and everything seems a little heated (expensive) at the moment. Think house prices are up almost a quarter…do you suggest waiting a few months to see how the land lies? I know you can’t time the market but just very expensive at the minute! Cheers, Marc
Hi Marc, thanks for watching! You never know what’s round the corner… Prices could come down, or something could happen which means you can’t buy a property for the next decade… I always say if you have an opportunity to get onto the property market, then take it… Long-term property always delivers irrelevant of what happens in between. I hope this helps!
Thank you Alex for another informative video. My offer has been recently accepted but the seller has not found. We were aware but in hindsight I'm now worried as I've instructed my solicitor, applied for a mortgage and paid out for a home buyer report. Should I hold off things until the seller had found a place or carry on. I expect this is a difficult question as no one can predict what will happen. TIA
I would just carry on in the ready soon you can… Have you completed yet?
I’ve been asked about my petrol cost however I work from home should I be worried about this and will they use the petrol cost into affordability as it was just me enjoying travellers which is not necessary to continue doing if I buy my home
If you work from home, then you won’t need to put any expenses for this… They may ask you to clarify, and you have a legitimate reason.
@@alexkerrmortgage Hi thanks for clarifying I’ve been told today that I pass affordability which is great just waiting to hear about their decision now after checking a final signed document I sent
Hi Alex, great video as always. I was hoping to get answer for this one please; would investing on Stock and Share ISA every month seen as negative during mortgage application? And would it effect my affordability?
It wouldn't affect your affordability and as long as it's just one account then you should be okay… You need to be able to prove every penny.
hi alex i am about to fill out my tax return on april the 6th. is there anything i need to know specifically about this, for example can i print of my tax calculation once payed, on the same day ?
i love your content and have followed all of the videos regarding first time buyers ! thanks
I would just focus on getting it submitted first… You can always print out or download the forms you may need for a mortgage later on. For your reference it’s a good idea to save the SA302 and tax year overview documents once you have submitted your tax return as this is what the mortgage lenders will want. Thank you for watching the videos!
Greetings Alex. I have a question please, Family boost vs Springboard mortgage what is the difference?
Sorry for the delay! Family boost is where your parents would set aside money in a savings account for you towards the deposit and you would pay them back in your monthly mortgage payments… Springboard mortgage is with Barclays and I would take parents income into account to help with borrowing.
@@alexkerrmortgage all good thanks kindly ✌🏽 can you do interest only on them?
@@balliednerd7971 I'm afraid not only repayment
Hi Alex . Could I have a mortgage if I'm an Agency Worker?
Yes indeed but completely different rules will apply! It’s all to do with how long you’ve been doing it continuously And what type of set up you have… When you want to discuss your mortgage options just get in touch and we can chat through it!
Hi Alex. I’ve had an offer accepted on a house. I offered 10k above the asking price but it still seems a fair price for the area. What are the chances of it being down valued?
It's in the borderline... Hopefully you will be okay but it's so difficult to predict. I don't know anything about the property itself, if that's priced a bit too high or if it's come down in price etc - you just need to try and rely on your agent to help you. Did it get accepted?
@@alexkerrmortgage I got my mortgage offer a couple days ago. Valued satisfactory.