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Property refinancing for beginners
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- čas přidán 2. 08. 2024
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Brother the fact that u can explain it this well means you understand it very well, i have been searching for hours on this property shit and finally got it from 👍👍👍
Thank you so much! I have learned way more than just researching and making calls. I have a clear idea of how I can move further. I already own a house with my mother and we are renting it while leave in it and being able to pay the mortgage and half bills. Now working on buying another house with a great deal. Your videos have helped me a lot to organize my steps in just two days. I appreciate what you do and help others! You are an amazing person. Wish I had more friends like you. Have a good day and thanks again!
Where was this guy in my 20's, Thank you
You made a good point Samuel at the end about the value going up which could effect you getting a new mortgage, its something i'm already thinking about as i know when i buy my next resi home i want to add an extension etc which will increase the value, it would be a major problem if i was then unable to get a new mortgage when the term ends.
Samuel Leeds you still the best to explain the terminology about this topic.Thanks!!!
Such a good, clear explanation - much appreciated. Answered what I was trying to understand about releasing value on re mortgage.
So, let’s say I have 30K buy a property BMV, get a bridging loan to buy it and to add value, then I would get a mortgage and pay off the bridging loan and hopefully take the initial 30k investment, then rent, when property value goes up, refinance and get the profit to repeat. Did I miss something?
Bingo. That’s how it works!
Would be really interested to see some more content on bridging loans! Great bits of info in these vids, keep it up!
Samuel, you are amazing! I was trying to learn it from Robert Kiyosaki his partners and others(books, channels, etc). THE BIG PROBLEM IS - they won't explain everything steps by step. They are wrapping all info so difficult. And here you come in. You look like GOD against these guys. You dropping all info like a REAL TEACHER! Robert Kiyosaki was always shouting out about FAKE TEACHERS. I need to say you are the only one and THE BEST REAL TEACHER! Love your videos thank you SOOO MUCH!
How good is this video! I've watched loads on this topic but this is by far the best to understand! Subscribed!
Thank you for this video, it has been really helpful. I am going to refinance today.
Brilliant content and easy to understand! Do the same principles apply also to property investing through LLC?
Samuel is the best property advisor in the UK. I put my word on it. I'm in his academy and I can tell you, this works like magic.
I dont understand this
Great video very informative , what would you recommend for a cash buy to let property to take the money out and re invest?
Very informative, just what I needed! Thanks
Samuel this is a very quick crash course but is very informative. Thank you
Really this video helped me to understand the concept of Refinance, thank you for the detailed explanation in the video.
This is soo informational thank u, no one has done a step by step guide like this
Hi Samuel, thanks again for a great video, would you suggest the first step for someone brand new to this, would be to find a mentor? or to continue to research and educate themselves until they feel ready to hit the ground running, and then find a mentor?
thank you 👍🏽
Thank you so much Samuel.
Hey Samuel great content as per usual, I wanted to ask you whether it was possible to refinance a buy-to-let home if you are not living in the Uk and you are not working I presume the answer is NO but are there other ways around it?
Thanks so much SAM for very helpful info. about Property refinancing for beginners. Have a lovely X'mas and prosperous new year 2024
thank you this was very helpfu. still little confused on the bridging loan. thank you . this is the far the best video in explaining well done
Hello Samuel just a quick 1 iv watched a lot of your vidios in the past week and I'm so happy to have came across what you do and what skills and strategy you shair on them I have a big question I havent seen you answer or even seen it asked.. so as of deal sourcing right is there a legal obligation that you need to pay taxes on or a licence you need to be able to do deal sourcing
Omg explained it so easy to understand! Thank you so much 👍
Thanks for this Samuel, super helpful!!
Would you suggest remortgaging your residential home to start a property journey?
1. Bridging loan is super expensive, way more then a mortgage. you'll need to negotiate rates. as a small property owner you have no weight.
2. What happens when your property loses value? now suddenly you are stuck with debt that is higher then your assets value. the bigger the portfolio, the deeper the hole. companies that held billions in assets/dept went bankrupt during the sub prime crash.
Watch the big short
That was a great video, the little details in it answer more questions for us beginners
You are very good at explaining things and don't waffle too much. Thanks man. Very helpful indeed.
I like this guy he literally talks like for beginners and I’m 17 years old thanks for teaching me sharing this video with my football group chat
Thx for the great content! Quick question. What do you do if the property looses value? Due to black swan event or misscalculation?
It was briefly mentioned that the rental income would not cover the new mortgage repayments after refinancing. Am I right in thinking we would be purchasing more properties with the released funds to then rent out to then cover the additional costs. Surely we are back to square one here, no capital equity and still no passive income... I suppose its in the numbers and depends on how much we received from refinancing etc or maybe I missed something.
I was the 200th that clicked like on this informative video👌👌👌🥳.
Great explanation in the video Samuel.
You explained it really well, tho might have to watch it a few time 😅. Thanks for the info
Wow you are a genius the way you explain makes sense. Thanks 🙏🏾
Great Video! Do you know if you can refinance a residential mortgage if you used the Help to Buy scheme?
This is so helpful, thank you!!! 🙏🏻
Great video! thanks! One video about bridging loans, please.
This is very good video bro, very easy to take in
Amazing vid ! I’m thinking of buying of buying a end of terraced house for £95,000 but it can be converted into a four bed two bath whilst at the minute it’s only a two bed one bath what would your advice be is that a good investment or a bad investment?
Great video samuel you bang on it again keep going
I'm trying to save all the money I can so me and my brother can get started on this journey would be so amazing to actually see some results in the future! Like you mentioned though it can be so daunting and a lot of information to take in its really difficult to choose the best option to begin. Love how easy you making this sound its insane!!
Hi Ash, I'm just a random guy. It's been 9 months since you commented on this. How is your journey going.
Hi Ash just another random guy, have you and your brother embarked on your property journey yet? Would love to know how it is going
@@the_jakwanhey took a new job at work. Doing 60+hr weeks just to get my mortgage hopefully by the beginning of 2025 I should be telling you all I got the mortgage.
What a wonderland
May I ask what if no one rent the property?
Secondly, I need to pay more after refinancing the property but how can I know the rent still can cover it?
Should we need to include solicitors, agent and maybe a bit for fit out on each new property? How to calculate the net yield?
Thanks
Hi if we wanted to rent our current home out and buy another home do we need 25% deposit on our second home?
See you in london in august Samuel ready to level up 📈📈
Thank you. This was a really good explanation.
great video samuel
Hi Samuel……How about trying to refinance on my existing BTL’s in the Uk as a now Expat??? I’m living in France and need to refurb my Uk properties using refinancing as I don’t want to use my own money and really don’t want to have to sell my Retirement portfolio!! Any help or advice would be really appreciated…..must add..Great info and content in all your videos👍👍
Great video Samuel. I’m watching all the way from Australia and this video has helped me to understand refinancing 😊
Superb explanation. Thankyou very much for this video
Samuel Leeds your a very knowledgeable person in property Q. How did you squire all your knowledge???
BRRR is so good!
Great vid
Can you refinance on an interest only mortgage? An the value of the property has also gone up.
So my situation is we may be able to fingers crossed by a house for around half its current value (old family friend selling) we want to take a 2 year fixed mortgage, do it up as it needs lots of work, and then either remortgage and live in it after two years for a cheaper amount, or remortgage to rent out.
My question is, would it be a problem if we got a standard residential mortgage at the start and then if we decided to would be be able to change it to a buy to let mortgage when we refinance?
Very helpful. Thanks.
So when you pay off the old mortgage with the new mortgage in the example you showed, does this all come down to after 2-3 years fixed term
Very clearly explained.
Thank you so much!!! I learned a lotttt!!!
Thank you, very usefull!
Refinancing and remortgaging are the same, what is equity release?
so helpful, thank you so much.
Thanks Mr L
awesome video bro. thank you
Samuel, your'e the best!
You are a genius m8 👏👏👏👏
Hi just wanted some advice I have a house in the uk that has no mortgage that I am living in with family but they are retiring and going to move overseas for good so I wanted to know the best way to utilise this house to get passive income and also be able to get more properties to increase my income where I can look after my family and not work a 9-5 anymore. Also will I be able to rent the house out and also refinance at the same time ?
Would you say it’s still a good time to remortgage your home with extra borrowing and use it towards buying a rental property?
Amazing video. But what's happening if you don't have enough income to refinance I know you said that but is it something that could you get away?
great and brief explanation
You haven't taken into account increased Capital Gains Tax. If you sell for increased amount you have to pay more capital gains tax if it is not your sole property. Hence why the buy to let market has crashed. Also due to fact increased rights of tenants and building regs that require property to be energy efficient.
Nah he’s right, can’t be taxed on property in the scenario he described
You only get taxed once your liquidate your asset. As far as I’m aware.
Increased capital gains tax after refinancing, in case its sold?
Don’t worry about the tax, how are you going to cover the ICR for the refinance. Most lenders require rental income to be at least 125-145% of the interest repayments. Using samuels example would the rental yield even cover taking the extra refinance capital out the property. Almost zero chance of that with these rates.
Samuel. Even I am not british I understood very well.
When remortgaging at the end of the fixed term by moving to another lender, do you have to pay any early repayment penalty?
I say this because the mortgage would be for 25 years. And after 5 years, (end of fixed term), you pay off the whole mortgage using the money from the other lender.
Where do you get your mortgage from cause banks are not lend it no more where do you get it from
Very informative 👏🏽
im 33 and have quite a bit of equity in my property, what am i best to do?
Good presentation
great videos very helpfull
Question. With the new government announcements (UK) regarding the return of 95 percent mortgages. Is it possible I can still do a refinance on these properties? Do they also still allow you to use the property as a rental property? Can’t find any info on this anywhere.
this was an amazing video
This is actually a very factual informative video for people new to property investing, great tips and no bullsh*t.
Thank you
Samuel, i dont really understand, what do u mean keep the debt? How do u keep it? Dont we have to pay our mortgage along with interest every month? Would appreciate ur clarification.
I’ve always needed help to wrap my head around this but you helped me understand it so simply! Great vid
I dont understand
Great
Very good.
If you refinance , and you pay the money for another buy to let mortgages how does that work ?
You are an Amazing one!
Very helpful
This is one of the best channels to help people find their first property and flip it. Keep up the good work Samuel your videos are very educational and free!
Thank you so much on this Samuel! Question regarding this - lets say you refinance on the assumption the value of the property has gone up, what happens if the value of the property drops significantly? Are you over leveraged at this point? Can you just wait it out to go back up in value?
How do I do that
@@trishafalcone7687 it’s a scam!
Essentially you can only refinance to the amount the surveyor values the house at, the homeowner cannot personally state the property value, only the surveyor.
But let’s say your £100,000 house is valued at £200,000, you can refinance at 75% LTV = £150,000
Let’s say the first mortgage is at 75% LTV which means you put £25,000 down and borrowed £75,000, you then refinanced at new property value of £200,000, minus the existing mortgage owed of £75,000 leaves you with £75,000 in the bank, £50,000 equity in the property and a mortgage of £150,000.
If the market has a downturn and let’s say the property value drops back down to £100,000 you will then be in negative equity by £50,000 because if you sold the property at £100,000 you’d still owe the bank £50,000. But you could still pay the £50,000 owed out of the £75,000 you put in mak when refinanced
So to answer your question you could just simply keep paying the mortgage and wait, it will rise again eventually but what % depends on inflation and also the area of your property.
@@MistaJayLJ Nice explanation but could you help get my head around this... in your example, after refinancing your debt is much higher. Even if you discounted the £75K extra in the bank you still owe £75K, same as before. So how is this beneficial?
@@MistaJayLJ thank you so much for this explanation!!
Good video❤
Hi quick question on refinance, if I buy a property in cash how long until I can refinance? Is this an easy process?
so you refinance a house to get a deposit? what about the stamp duty? anything can do with that at all mate?
Could you use money form further advance to finance the purchase of next property (If someone doesn’t want to remortgage or switch lenders)?
Everyone is just looking forward to having more loans and debts 😊 Nice.
Brilliant info, thanks Pal, keep it up!
So the morgage payings will go up if you refinance, and you will have to increase the rent being paid by the tenants, right?