Only just discovered these videos, super useful and clear. Thank you

Found your channel the other night. Super punchy, helpful, straight to the point info. Thank you!

@alexkerrmortgage

3 жыл бұрын

Thanks very much, appreciate the kind works and support! Any questions at any time let us know!

Very clear and useful info!

@alexkerrmortgage

3 жыл бұрын

Thank you 🙏

@oyegokemubarakadebayo5179

3 жыл бұрын

Had an issue where a bank falsely charged me for something I already paid for already, but they didn't send a bill. 3 years later, with no notices, I find out that there is a collection on me for it...it was killing my credit score (which was still high at 690 but should be higher). Called Credit MasterFix Group based on a reference from someone and they were able to get the collection removed from my credit report in 3 days. My credit score jumped up 150 points. Thanks to ‘Roy@creditmasterfix.com’

Thank you Alex

@alexkerrmortgage

3 жыл бұрын

Thanks for watching Daniel :-)

Great Vid

@alexkerrmortgage

3 жыл бұрын

Appreciate that Kelvin!

Yes I am interested in buying a help to buy

@alexkerrmortgage

3 жыл бұрын

Hi Lord, okay great, have you had your mortgage assessed as yet? Alex

Hi Alex, do you have any idea when the new help to buy will be allocated for builds to sell? Is this likely to be mid December? Thanks!

@alexkerrmortgage

3 жыл бұрын

16th December!

Good video mate! Some useful info, quick question for you - you mentioned you can make 10% overpayments on the equity loan each year for the first 5yrs. After the 5yr interest free period is over can they make lump sum repayments on equity loan of any amount or does it have to be a certain %

@alexkerrmortgage

3 жыл бұрын

Cheers Leo! Here is some useful info taken from the new help to buy guide: For the first 5 years: • the equity loan is interest free • pay a £1 monthly management fee by Direct Debit. From year 6: • pay the £1 monthly management fee • pay a monthly interest fee of 1.75% of the equity loan • interest fees will rise each year in April by the Consumer Price Index (CPI), plus 2% • continue to pay interest until you repay your loan in full. You must repay the equity loan when you pay off your repayment mortgage, sell your home or reach the end of your loan term, normally 25 years. You can pay off your equity loan in full any time before then or make part payments. Your first part repayment will need to be at least 10% of what your home is worth at that time. Here is the link to the guide: assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/935668/Homebuyers-guide-to-Help-to-Buy-Equity-Loan-2021-2023.pdf Any more questions let me know! Alex

Hi Alex, I'm looking to buy (single income) a home this year (🙏🏾 hopefully), using the help to buy scheme. I've obtain a DIP from my bank (which is a good amount) so that with the government equity loan, my 5% deposit and my income, altogether matches my property budget/affordability (£250,000 - 330,000). My question is, with the new help to buy scheme, will I still be exempt from paying stamp duty on a property under £330,000?

@alexkerrmortgage

3 жыл бұрын

Hi Fola, good luck with that! Currently no stamp to pay under 500k, after march 2021 no stamp opn 300k or under, for first time buyers. However the government could extend the stamp duty holiday, lets see! Here is our stamp duty calculator which is always up to date: www.mortgagechain.co.uk/stamp-duty-calculator/

@fdj4517

3 жыл бұрын

@@alexkerrmortgage thanks Alex, looking forward to your next Q&A!

How can I jump to a normal mortgage for another property non help to buy if I have had this h2b mortgage for almost 4 years. Should I approach a mortgage broker or adviser first? Should I jump to a higher h2b percentage (current 25%) and then look to buy a bigger property? Or should I try and exit my current deal for a better bigger one? I find myself in a much better financial position than when I started this mortgage. Happy to have a chat if you can help us.

@alexkerrmortgage

3 жыл бұрын

There are lots of variables here, feel free to book a chat with us here: outlook.office365.com/owa/calendar/MortgageChainLtd@mortgagechain.co.uk/bookings/

Hi Alex, One thing I could help understanding. The repaying 10% at a time bit. If the equity loan of 20% is £40,000, does that mean you can repay £4,000 at a time e.g. 10% of the loan, or £20,000 at a time e.g. 10% of the equity? Also if you do pay off half the equity loan, will that lower interest payments post year 5? Thank you

@ScottishJazzman

3 жыл бұрын

Seconded! Great question. I thought that one could only repay in “increments of 10%” - ie a lump sum of 10% or 20% (outside London) of the property’s total equity under the latest valuation.

@alexkerrmortgage

3 жыл бұрын

Hi Josh! It is 10% of the quity loan balance, so 4k in your example. The rate will always be the same so no reduction for overpayments I am afraid! Alex

Hi Alex I am a first time buyer looking to buy a new/newish property next year but I wont be going with the help to buy loan as Im hoping the 90% mortgages come back soon. Lots of cons (in my opinion) with help to buy.

@alexkerrmortgage

3 жыл бұрын

Help to buy certainly is not everyones cup of tea and has some down sides as well as up sides. 90% mortgages are already starting to return as we speak and I think will get stronger.

Currently saving for a deposit with my girlfriend to get our 1st house under the new scheme. Are there any other costs i need to consider when saving apart feom the deposit and surveys?

@alexkerrmortgage

3 жыл бұрын

Hi Luke! Please visit this link of our mortgage chain website where I break down all the association costs and requirements of a mortgage: Weblink: www.mortgagechain.co.uk/first-time-buyer-associated-costs/

Hello, thank you for your video. You said that if you have a property for example in Greece you won’t be able to get “Buy to Help) ? Thank you

@alexkerrmortgage

3 жыл бұрын

Hi Dragomir, the new help to buy scheme is for first time buyers only, so you must not own another property.

@dragomiryankov5121

3 жыл бұрын

@@alexkerrmortgage anywhere in the world? :0

@alexkerrmortgage

3 жыл бұрын

@@dragomiryankov5121 yes

What happens if there's a market crash for people who already have an equity loan? Is it a good time to try and pay back some of the equity since it'll be based on the property's value at that point?

@alexkerrmortgage

3 жыл бұрын

Hi there, well government schemes would normally mean they will look to support any instances, but I haven't found anything in the terms to cover this event. I would take it that it would still need paying.

@agnostic47

3 жыл бұрын

What if, what if, what if? If you're worried about that you shouldn't be buying property. There's always a chance of a crash and there's never a bad time to buy property.

Great video very informative. If I own 25% of a home that is rented out will this disqualify me and my wife on buying ourselves a home to live please? She hasn't had her 1st time benefit yet but I know you've said for shared applications you both should've not bought one yet? Just wondering if owning a small percentage changes that?

@alexkerrmortgage

2 жыл бұрын

Hi, thank you for watching! Do you mean 25% share of a shared ownership property or a buy to let?

Do you have any advice on Help to buy ISA’s?

@alexkerrmortgage

3 жыл бұрын

Help to Buy ISA has shut, but here is a great alternative for you - kzread.info/dash/bejne/ZaGjuqtsj8nRipc.html

Hello Alex, wonder if you could clarify something for me. On the new 2021-2023 document, it says to pay back your HTB loan, you must pay in minimum 10% instalments. However, this is a percentage of the homes value, not the loan value. Does this mean that during the 5 years of interest free, you cannot chose to staircase paying back this debt? Do I make sense?

@alexkerrmortgage

3 жыл бұрын

Staircasing is for shared ownership only.... you can pay any amount within the first 5 years and then 10% of the equity loan balance thereafter per year....

@FootprintsForTwoTravel

3 жыл бұрын

@@alexkerrmortgage So during the 5 years, I could pay let's say 200 per month? On the newest paperwork it does not read that way, at least from my perspective. It seems as though you must pay 10% of the property value, not even the loan value. Unless I am missing something of course ha

What wonderful content and information you have put up here! Just a quick check if I am eligible to buy a house in Scotland: 1. Moved here 2 months ago 2. Salary 32k pa 3.Have a skilled worked visa for 4 years 4. Never bought any property. Many thanks in advance

@alexkerrmortgage

2 жыл бұрын

Thank you for watching! So you have been in the United Kingdom for four years?

@arvib2158

2 жыл бұрын

@@alexkerrmortgage thanks for your reply. I moved here 4 months back and have a visa for 4 years

Hi Alex! I've never owned a property but I've just inherited a property abroad from an aunt. I'm looking to sell it. Will this affect my eligibility?

@alexkerrmortgage

3 жыл бұрын

Hiya, this will mean you are not a first time buyer and therefore will not qualify for the new help to buy scheme...

Hi Alex help to buy is that on only on new builds or can you buy from estate agents normal house

@alexkerrmortgage

Жыл бұрын

Only on new builds Dildar!

Can I ask what happens if I decide to go ahead with garage conversion while still under the help to by.. Will they fine me if I do it without thier permession??

@alexkerrmortgage

3 жыл бұрын

I would refer to your Help To Buy terms and conditions. Alex

Just seen the 2021-2023 eligibility and seen that a 25 year mortgage term is under the section. What happens if you want a shorter mortgage term I.e. 23 years? Can you still apply for the help to buy equity loan?

@alexkerrmortgage

3 жыл бұрын

The term of the mortgage would need to match the term of the equity loan, as long as it's affordable you can choose term that the mortgage lender offers, and reflect this in the equity loan.

Question on the help to buy isa, can i retrospecively make use of the allowances? E.g. i opened the account but added about £100 and never saved into it still have it open, would i be able to add £4800 for 24months that its beeen open in one go?

@alexkerrmortgage

Жыл бұрын

It depends who you are with but there is a limit per year that you can put in, just double check that and then you can deposit up to the maximum amounts !

Samuel Leeds just uploaded a video about the 2021 htb scheme. And unlike you, he said that the 2021 scheme is not limited to first time home buyers. Who's right and Who's wrong?? 🤔

@alexkerrmortgage

3 жыл бұрын

I have no idea, as I have not watched this video. However I can clarify, the help to buy 2021 to 2023 scheme is for first time buyers only. As clarified on the help to buy website here: www.helptobuy.gov.uk/equity-loan/equity-loans/#:~:text=You%20do%20not%20pay%20interest,equity%20loan%20at%20any%20time.

@TheFrankieRobinson

3 жыл бұрын

Samuel leeds is a scam artist be careful

Hi Alex. Good video. Do you need a help to buy ISA to be able to qualify for this scheme or can you qualify without it. Thank you in advance.

@alexkerrmortgage

2 жыл бұрын

You can apply to this scheme without a help to buy ISA!

Hi Alex - I have a question I’m a first time buyer trying to buy with my partner as we are now are a small family trying to save to get our 1st home. The trouble I’m facing is if we wait for 95% mortgages to come back in then add the 4.5/5 times our salary, our affordability seems really low for how much the property is worth. We still wouldn’t be able to cover the full house price. Would you say it would work out better buying a new build with help to buy as we will be able to afford a more expensive home with lower mortgage repayments? It’s just the paying back of the loan. Am I right in thinking if we was to sell the property in the 6th year we would potentially cover the cost of the loan. Thank you for your time

@dean4269

3 жыл бұрын

Hey love, I’m on the same boat as you. In my opinion if your going to use the first time buyer scheme, go in with a plan. For example sell the property before the 5 years. Or save to pay back the loan. Just remember with the help to buy scheme there is a lot of restrictions for example renovating isn’t allowed and renting out isn’t allowed.

@MsMiissyy

3 жыл бұрын

@@dean4269 It’s tough out here! You’re right best to go in with a plan for sure ☺️

@alexkerrmortgage

3 жыл бұрын

Hi MsMiissyy, you need to start paying the loan back in your 6 and I would say the idea of selling in year 6 is not great as what do you do then ? Shared Ownership is a possibility. If you email me your income and current credit files I can take a look at affordability. alex@mortgagechain.co.uk - Alex

@lloydc1092

2 жыл бұрын

@@MsMiissyy hi, any updates on what you did? currently in the same boat as you was in any feedback appreciated

@MsMiissyy

2 жыл бұрын

@@lloydc1092 Hey, so we completed on a new build flat last week Wednesday. We bought with HTB, it met our affordability no problem. Mortgage payments are beyond manageable & we decided to save £1K for 5 years to go towards paying the loan. We’re a young family so know it won’t be our forever home but it’s our comfortable stepping stone. Even if we decided to say and remortgage we will have enough saved away for that money to go to use somewhere. We saved for 2 years so saving another 5 is easier in our situation as we have found we have more monthly money left over owning our property now.

If you own a plot of land in the uk with has planning for a self build plot, can you still use the help to buy?

@alexkerrmortgage

3 жыл бұрын

Afraid not...

Hi alex Just to clarify will there be any interest paid in the first 5 years at any point to any one apart from the government internet which will start after five years ? Thank you so much

@humptydumpty8753

2 жыл бұрын

0:44

@alexkerrmortgage

Жыл бұрын

The commenter below put the point of the video where I state that so just click that link!

Hi, how much it cost you to buy a house with help to buy? 5 % deposit and what else? Lawyer, dutys, fees?

@alexkerrmortgage

3 жыл бұрын

This video should help you… kzread.info/dash/bejne/YpWas4-zoauvmZs.html

Hi Alex, really enjoy your videos. I'm in Scotland and being told by my mortgage broker there's only 85% mortgages available. I'm in a position to put down a 10% deposit, 15% is just a little too much. Do you foresee that changing any time soon? Thanks in advance

@alexkerrmortgage

3 жыл бұрын

We have two lenders at 90% lending in Scotland. The deals come and go very quickly! Feel free to get in touch for a free 90% quote - alex@mortgagechain.co.uk

@jayray212

3 жыл бұрын

@@alexkerrmortgage email you in the morning mate, cheers 👍

Deinitely not for any person. Considering a 21k salary per year how come would any person get at least a 25% shared as 31k is the mininum mandatory.

@alexkerrmortgage

3 жыл бұрын

Hi Danilo, thanks for commenting. I am not sure where the 31k minimum comes from, but you can have a shared ownership mortgage on a 21k salary.

If I were to buy using the new scheme and then my circumstances changed in a year or two, e.g. I wanted to move in with a partner or had to go abroad with work, would I still be unable to rent the property out?

@alexkerrmortgage

3 жыл бұрын

Hi Alexandra, that is correct you cannot rent a property out the help to buy equity loan. If you feel your circumstances have a high chance of changing, this scheme is unlikely to be for you.

@alexandranoble5109

3 жыл бұрын

@@alexkerrmortgage Thanks for your helpful reply.

Help to Buy price cap in my area is £228,100. If the property is 250,000 and I am have 5% deposit plus 21,900 (the difference between the cap and price of property), I assume I am not eligible?

@alexkerrmortgage

3 жыл бұрын

That is correct, you would not be eligible in this instance.

Hi Alex, I had sell my house in 2015 and now I haven’t any property owned. can you please tell me? can I buy Help to buy scheme house in this situation?

@alexkerrmortgage

Жыл бұрын

Afraid not, that is just for first time buyers… However next year we should see some new schemes coming out!

When buying through the help to buy scheme can you use a lifetime Isa savings for your own min 5% deposit?

@alexkerrmortgage

2 жыл бұрын

Yes you can! As long as you have had it for 12 months, you will get the 25% bonus 👍🏻

@AK-xxxx

2 жыл бұрын

@@alexkerrmortgage that’s great! Thank you

Hi Alex, we have emailed you, how long normally do we wait for a response to our assessment? Thanks 🤘

@alexkerrmortgage

3 жыл бұрын

Hi! Is this in regards to a credit file check or new enquiry ?

@Figillis

3 жыл бұрын

@@alexkerrmortgage hi, a credit check enquiry :)

Can I pay full equity loan away in first 2 years and become full owner of house ? Thanks

@alexkerrmortgage

3 жыл бұрын

One of the benefits of the equity loan scheme is that equity loans are interest-free for the first five years. If you pay back your equity loan in full by the time these five years are up, you will not have paid ANYTHING in interest on it. You don't pay interest for the first five years, you will have to pay a £1 monthly management fee from day one until the equity loan is paid off.

@simanpreetsingh9457

3 жыл бұрын

Thanks a lot.😀😀😀

My mortgage broker is currently filling out the forms

@alexkerrmortgage

3 жыл бұрын

How did you get on with this ?

I am holding dependent visa and first time buyer. Am i eligible for help to buy scheme? Please reply for this

@alexkerrmortgage

3 жыл бұрын

I’m afraid not… need to be UK national I am sorry to say. Alex

After I sell my property purchased with help to buy, am I still considered as first time buyer?

@alexkerrmortgage

3 жыл бұрын

Afraid not, once you have purchased a property anywhere in the world, you are no longer a first time buyer…

@LetMeEditTyson

3 жыл бұрын

@@alexkerrmortgage I am buying a flat with help to buy. In future if I sell it, am I considered as first time buyer

@alexkerrmortgage

3 жыл бұрын

@@LetMeEditTyson hi, you have asked this same question twice in this same thread and I answered both. Are you getting the replies ? Unfortunately you would not still be a first time buyer.

If I already applied and have been saving into the pre-2021 help to buy scheme will I automatically be moved on to the new scheme or will my loan be characteristic of the previous scheme when I joined it?

@alexkerrmortgage

3 жыл бұрын

Hi Isobel, I believe you are referring to the help to buy ISA ? This is separate to the help to buy scheme when buying property and the help to buy equity loan would reflect the current scheme.

Don't think so. First of all new homes are usually overpriced for the build quality they offer (usually low). Moreover, it doesn't look flexible if you wish to re-mortgage in less than 5 years time or use part of the land for serviced accommodation services etc

@alexkerrmortgage

3 жыл бұрын

Appreciate the feedback. If this was my only option, I would rather this than rent something and own nothing.

@georgios9384

3 жыл бұрын

@@alexkerrmortgage Thanks a lot for your immediate response on this, really appreciate it! If I had the option to either buy a new expensive house through help to buy scheme or to buy an old less expensive house to rent it through buy to let scheme then what should I go for as a first step? Please note that I don't own a house at the moment so it will be either buy a new house and stay on it without having rental income at all or buy an old house, rent it and continue to be a tenant but having a rental income apparently 😉

@alexkerrmortgage

3 жыл бұрын

Difficult one! However I would focus on getting a residential property for yourself first, as this will make getting a buy to let as the next step much easier than trying to get a buy to let as a first time buyer, which not a lot of lenders do… Thanks for watching!

@georgios9384

3 жыл бұрын

@@alexkerrmortgage Thanks again for your reply Alex! 👍

How is this not going to crash the overcooked property market?

@alexkerrmortgage

3 жыл бұрын

I think it can help first-time buyers, and supply properties to supplement the demand!

@TF-cn6oj

3 жыл бұрын

@@alexkerrmortgage help then get into a debt then get wiped out?

Your link to help to buy isn't working.

@alexkerrmortgage

3 жыл бұрын

thanks for letting me know - try this please ? assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/987505/Homebuyers-guide-to-Help-to-Buy-Equity-Loan-2021-2023_Plain_English.pdf

I want buy house by ( help to buy) please, How are you can help me to get it ?

@alexkerrmortgage

2 жыл бұрын

Of course! Please book a free chat with me using the link below. Remember to choose me (Alex) as the advisor. outlook.office365.com/owa/calendar/MortgageChainLtd@mortgagechain.co.uk/bookings/

Why does it always have to be new build? What about a single person who only wants a 1 or 2 bed apartment or flat 😢

@agnostic47

3 жыл бұрын

Tough. This scheme is aimed at new builds to help the already wealthy building firms.

@alexkerrmortgage

3 жыл бұрын

Have you considered shared ownership ?

I would like to book a free consultation

@alexkerrmortgage

2 жыл бұрын

Hi Muda, no worries at all, here is the link! outlook.office365.com/owa/calendar/MortgageChainLtd@mortgagechain.co.uk/bookings/

I'm 41 year old and my husband is 46 and I owned a property before but my husband never did.we are currently living with parents and earn 30k ..can we get help to buy.thanks

@alexkerrmortgage

3 жыл бұрын

Hi, is 30k a joint salary ? How much would the property be ? Alex

@soniasandhu6657

3 жыл бұрын

@@alexkerrmortgage thanks for your reply property is 225000 and its joint income

This price cap is just pointless in the west Midlands every new build is over the caped value just a waste of time

@alexkerrmortgage

2 жыл бұрын

Sorry to hear that, I hope you can find something… Keep an eye out for a new equity loan scheme which we have coming, that enables you to buy any property! We should be releasing details next months, or at least early in this year.