a significant video humbly presented..great work!!

@SanDaisStories

6 ай бұрын

Thank you! 🤗

Hi dears, ur videos are truly inspiring and great answers to all doubts. Our son too looking for a house. He got pr last year. So waiting and watching for the right move. Keep going, Gid bless you both ❤

@SanDaisStories

6 ай бұрын

Thank you ☺️

Great video(s) about home buying process. I watch your videos being a fellow UK malayali who sold his property in last year and moved back to rental in London - Few things in my humble opinion you may want to cover in your future videos for first time buyers: 1. Impact of mortgage rate increase. At 1.67% to 5% is an increase from £867 to £1,388 per month (£523 increase) on £275k mortgage. Will be important when you quote some numbers for people to consider affordability. 2. As you mentioned - all depends on personal circumstances. But would be good to do a video where you provide details on rental vs mortgage (at current interest rates bank offer) 3. Help to buy impact. I know few people who had the following issue related to HTB: After 5 years there will be the dilemma of whether to start paying interest on your HTB (from year 6) or to increase the mortgage capital to include help to buy. Issue here is RICS valuation at the time of the property vs bank’s valuation - any shortfall you have to pay. This is where discounts on the house you bought (may) come back. Eg: £375k property (with actual valuation of £395k per your comment) lets say 15% increase in valuation in year 5. So to settle HTB you will have to pay c£86k (20% of £395k). Now lets say if your bank values the property (as they use their own valuation not the RICS valuation which is used for HTB settlement and state that its worth £375k) then the mortgage they would provide you is for that smaller amount only. So there will be this difference in how much you need to settle HTB vs how much bank will lend you. So the 80% of the £20k is something you have to cough up to settle HTB. (I am assuming you wont have £86k in your bank at that point to settle this, if you do then this isnt an issue). 4. Fixed rate vs variable rate + issues around early repayment fee. Having sold my property during the 5 year fixed term we had to repay a good amount to bank purely because we didnt think we would sell within 5 years.. will be very useful if you cover this topic for your followers. 5. Pine nignal paragnathu pole home buying is beyond a pure financial decision. Everyone especially malayali community need to accept this. Because then some of these “decisions” woule be much easier. Sorry for the long comment. Please note the above is all based on my personal experience - none of which should be used as financial advise.

@SanDaisStories

6 ай бұрын

Thanks a lot for this comment 😊 It’s really interesting to hear from some one who have been through owning a house and then selling it. As you said, H2B amount is 20% of the house price at the time of repayment, so that would be really a big liability. Thanks again , we will definitely consider the points you have put together in our future video !

There is a correction, when you go for mortgage reset after few years of the interest rate is different the amount you pay to capital remains the same of the tenure is still 35 years but the interest pay will only differs

@SanDaisStories

6 ай бұрын

Thanks for correcting this. Yes, any extra amount paid as part of interest rate increase will go into the interest amount, the monthly capital remains same.

so good, nice video! so genuine 🫶🏻❤

@SanDaisStories

6 ай бұрын

Thank you so much!!

1% interest um 5% interest um varumbol monthly payment nalla different Varum. Ithu accept cheyyan new house owners nu kurachu time edukkum.

@SanDaisStories

6 ай бұрын

So true !!

I don't have credit card but would like to have one so as to build credit score and then later on buy a house But I have zero knowledge on credit building. Did you use credit card for everything like to buy groceries, shopping? Can we use it on a daily basis ?

@SanDaisStories

6 ай бұрын

I use credit card for grocery shopping and pay it off the next month. The important thing is to pay it back on time, we will do a detailed video on this. Thank you

@malavika1322

6 ай бұрын

@@SanDaisStories that would be great. Looking forward,!!

Hi, Thanks for the video. Is there a minimum mortgage payment tenure required for our home if we are selling it for any reason (such as being unable to afford the new remortgage rate after 5 years or returning to India), or are there any other conditions for selling it?

@SanDaisStories

6 ай бұрын

We dont have a minimum tenure for our mortgage , we can sell it any time. This might be different depending on the vendors, so worth checking with the mortgage advisor. Thanks

ini ninjlk oru 35 year koodi alle life expentency ulu appo lifetimemotham rent kodukkunna pole thanne alle??25 yearsil oru big amount veendum house maintanace cost varille???rent aanel min location change aakkam and maintance cost save cheyyam??? ini 5% interest rate applicabe cheyyumbo your emi will increase upto 1300 or emi time period will increase more than 45 years Honestly it’s my doubt not for discourage you.Did you ever talk to your mortgage advisor about this??

@SanDaisStories

6 ай бұрын

Hi @sanjzzz11, your doubt is quite valid. Renting is also quite high now, not very affordable. In the long term, property prices generally go up. If we decide to sell, we can keep any money left over once the mortgage is paid off. Eni ethonnumallelum , once we are of retirement age , we could either sell the house and downsize or use the money for retirement. Owning house or renting , both has its own pros and cons. We will cover this in a video. Thanks

👍🏼👍🏼

ഹായ് യുകെയിൽ വീട് വാങ്ങാൻ ലൈഫ് ഇൻഷുറൻസ് must ആണോ. ഒന്ന് answer പറയുമോ

@SanDaisStories

5 ай бұрын

Insurance legal requirement alla, but most of the mortgage lenders require building insurance as a condition of the mortgage agreement, njangalde case il venamarnnu. Please check with your mortgage advisor.

Hi , already car loan undenkil morgage kittan difficulty undo . please advice.

@SanDaisStories

6 ай бұрын

Car loan undenkilum mortgage kitum.It might impact the affordability amount but you would still get the mortgage.

Jaazzi pole und

How much rate?

@SanDaisStories

6 ай бұрын

Its mentioned in the video

If u have personal mortgage insurance pls say how much will be the monthly payment? Do you know the personal insurance is the same ?

@SanDaisStories

6 ай бұрын

I have personal insurance that includes mortgage protection. My monthly payment is £35.