All the best and good video. In my opinion it is still a good time to invest in different stocks like gold, silver and digital currencies. This is one of the most important skills to learn and everyone should invest instead of saving. Some may agree, some may disagree. My big compliments to Natalie Rose Strayer for improving my portfolio!!......

@Brucelanham845

8 күн бұрын

I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.

@Nguyenvictory83

8 күн бұрын

The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.

@Rodriguezpaul-9

8 күн бұрын

Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

@Jessecote875

8 күн бұрын

This sounds so good and I would like to be a party to it, is there any way I can speak with her?

@Charlottehornets4

8 күн бұрын

After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery Glory to God shalom.

Very interesting example. Massive loophole. It's bit of a cheat code, honestly. Not sure I'd go into buying a shared ownership flat with the intention of attempting this - a lot could go wrong - but those who have already bought one would be fools not to consider it. Also got to admire the value of knowledge, understanding how a system operates and ingenuity. I feel like these skills are incredibly undervalued and rare. Good job.

@MattBrighton

Жыл бұрын

Great point - I wouldn't recommend it as a buy into Shared Ownership to do this, but totally a way to get out the system if already in it, especially as a lot can get trapped like I could have been, an option to explore the possiblities.

@tea2216

Жыл бұрын

@@MattBrighton do you offer consultancy etc on this? Paid of course. I'm in a shared ownership myself, looking to sell

Why isn’t this video going Viral… so many people have been duped by the share ownership scheme.

Sharing your experience is so encouraging! Thanks a lot.

me and my wife are looking to sell our shared ownership property, this was so useful, thank you so much for putting this up! SUBSCRIBED

I wish I found this video years ago. I've bought and sold 2 shared ownership properties and made big losses based on the challenges you shared. You've really highlighted the corruption. Nice job!

@pathwayze8221

Жыл бұрын

@@crypt2732 Also thinking about staircasing but unsure about the process being worthwhile

Love this!!! Congrats bro 👊

Thank you so so much for making this video!!

Additions: - 06:40 - Total loss would have been £90k including estate agents fees - It seems some housing associations are different and want a profit split, best to check this with yours and ensure if you make a loss they also split that - Both the HA and buyer were aware of both figures and knowingly approved it during conveyancing. It was transparently shared

@hughgallagher

Жыл бұрын

surely any loss is split based on the percentage equity? How can this be any different between HA's when it comes to SO properties?

This was brilliantly well done

That is fantastic. Being granted open market access is a game changer. Thanks for your video 👍🏽

@MattBrighton

Жыл бұрын

I wasn't expecting it in the slightest. They do give open market permission if you've been on the market for 8 weeks with no shared ownership sale, lucky that it was priced out of affordability and was given straight away

@yazab20

Жыл бұрын

@@MattBrighton do you have the breakdown of the affordability to be priced out of the shared ownership sale?

@MattBrighton

Жыл бұрын

@@yazab20 I don't unfortunately - they didn't share how they work it out

@anthonyfaucy2761

Жыл бұрын

@@MattBrighton By doing this you are pricing out a massive amount of affordable housing for people who really need it. I've reported your video to multiple housing associations notifying them of your exploit

That deal was a work of art

Thank you so much for this video. It could not be more relevant to me currently- stuck in a shared ownership flat, desperately needing to move to get more space. All Housing advice doesnt apply to shared ownership due to the complexity. I’ll be taking your advice here

@PanArt_

Жыл бұрын

Have you managed to have any luck with this, if you don't mind me asking?

Love your videos!!!

Nice work !!

This is an interesting strategy. I work in shared ownership sales and resales, some HA clients are now conducting valuations for resales at their own cost rather than leaving it to the leaseholder. I wouldn’t say something like this would be replicable for the average shared owner but I am happy to hear this worked for you.

@hughgallagher

Жыл бұрын

When you say "HA Clients", do you mean the HA's? My understanding of the rules is that the SO property owner has the responsibility (and cost) of getting an independent RICS valuation. i.e. the valuation should have nothing to do with the HA or developer. That RICS valuation is then the basis of the equity split upon sale. Are you saying that HA's are doing valuations now?

@anthonyfaucy2761

Жыл бұрын

@@hughgallagher Alot are in the process of changing it meaning you won't be able to benefit. I work for a HA and they are aware of the issue now and changing how valuations work meaning they handle that part with the RICS

@pathwayze8221

Жыл бұрын

Do you know if the HAs are doing similar for staircasing too?

Hiya. Thanks for video. Really been missing your videos over Christmas. Sue 😀👍

@MattBrighton

Жыл бұрын

Thanks Susan! Combination of moving home + Christmas, needed a bit of time off

I appreciate you sharing your experience 10000%

Brilliant. Well done sir.

Matt you're a genius visionary. Another exceptional video, well done sir.

£19k to sell a flat , you did so well , you are clearly a very determined man.

So let me get this straight, the flat is valuated 575k and you ask for it to be higher so you get to 620k. At this point the property is too expensive to sell as shared ownership so you are allowed to sell on the normal market. Then you go and get a new valuation at 560k (which is cheap enough to sell through shared ownership) yet somehow you are still allowed to sell on the market. How is that even possible?

@markbrookes91

Жыл бұрын

Surely that lower valuation of the property, which was still 60% owned by the HA at the time, should have been disclosed to the HA thus making the property now affordable and should go back into the shared ownership scheme?

@odip0ds

Жыл бұрын

@@markbrookes91 The lower valuation was disclosed to the HA for the purpose of staircasing, it seems in this context that the HA should have the ability to withdraw permission to sell on the open market, not sure if this is something they can do or not?

@Sam-jy5tj

Жыл бұрын

This completely confused me too. It should be sold under shared ownership given the new, lower valuation. Sounds like a fraud.

@MattBrighton

Жыл бұрын

Affordability calculations (I don't know how they work it out exactly), meant even at 560k, they would have had to find a buyer with a minimum of £80k but a government cap of £90k so would be very limited to find someone in a 10k salary range, thus they upheld the open market permission for this reason

@TheFlameFoxx

Жыл бұрын

@@MattBrighton Most affordability calculators show that with the values you described and the house valued at 560k, a salary for 65k would suffice. I still don't understand how you managed this.

Thank you for this. I'm in a shared ownership house and feel trapped with ever increasing rents on a property that is unsuitable for me as I have difficulty using the stairs. You have given me hope that I may be able to get rid of it and move to something more suitable.

@MattBrighton

Жыл бұрын

It was awful that my HA kept raising rents without any communication, then services charges escalated, then admin charges went up. Nightmare. Hope you get out of it!

@jasbindersingh2441

Жыл бұрын

Your trapped in a prison of your own making. Nobody forces folks to buy over priced property

@brendagomez1933

Жыл бұрын

​@@MattBrighton Hi matt can you make a video explain this? How much service and rent increase? Please

@fabulously695

4 ай бұрын

@@jasbindersingh2441nobody forced you to buy an overpriced property, yes, but in the U.K. every single property is over priced, so you buy overpriced, or you never buy a house

@5jtfvv.

2 ай бұрын

How are you doing a year on? Hope situation has improved

This is being in the right place at the right time opportunity but amazing work congrats

Good timing on the market. In a falling market I’m guessing this would be much harder.

@MattBrighton

Жыл бұрын

Definitely harder right now with the way the market is trending

The housing situation in this Country is utterly dire. One of the most basic human needs is a home and yet a home for millions of people is not possible. Making money from any residential property development and stupid house prices are to blame. A 'home' should be that and not a tool for wealth.

Being granted open market access is the main thing here!

@hughgallagher

Жыл бұрын

is that a new thing with SO? It seems to be something that is not well known at all

Informative, thank you. Subbed.

I’m just buying a share ownership. Love the video, thank for this information. It’s still early days for me but this has given me a lot to think about 👍

@otuzuul77

Жыл бұрын

Did you buy ur house yet? How did it go? I am looking into it now, I am on 30000 and have 20 deposit. Will i be able to buy shared ownership with that???

You were just lucky to find a buyer who bought it for 620k. I don't recommend your method to anyone...because most probably you will make a loss when you sell ownership property.

@MattBrighton

Жыл бұрын

Totally agree - so much luck involved in so many ways to make the scenario work. Lucky the buyer came in at the price they did, lucky their mortgage didn't expire and the sale collapsed, lucky I put in the high valuation first then realised the flaw to submit a lower one.

@zacstarkey1369

Жыл бұрын

But this looks so doable too if you was a potential first time shared owner … London is probably going to burst in coming few years i like to think, (anyone else’s opinions are definitely more credible than mine I know 0 about property apart from just trying to rent in London and or buy) so if you was to buy when it’s at its lowest and sell high perhaps if the market was to inflate and or boom again which is likely inevitable?

@anthonyfaucy2761

Жыл бұрын

Spending £620,000 on a flat is insane. In other parts of UK you could buy a 6 bedroom house in an expensive area for that

@anthonyfaucy2761

Жыл бұрын

@@zacstarkey1369 This is why there won't be a property crash. HS2 the newly planned train system will mean London people will abandon the city to get away elsewhere in the UK raising the prices elsewhere. If you don't own a house in the next few years before it completes you will never own a property. Its going to cause so much societal issues

@daddyfatsack9510

Жыл бұрын

@@anthonyfaucy2761 “if you don’t own a house in the next few years before it completes you’ll never own property” is an absolutely ridiculous claim. Just shut up.

Great watch. Fair play

Lol everytime my family and I go pass a Foxtons it looks like a bar....the fridge full of drinks is always the centre piece of the shopfront

£620k for a flat on London? Wow I have never understood why it was so expensive. You could get a massive 5 bed detached for 200k cheaper in the Midlands

You finessed it ser 👍

Sensational bro

Glad to hear you’re free of SO

@MattBrighton

Жыл бұрын

🙌 So glad to be out of it!

Im not a homeowner and never been a fan if shared ownership , but wow this is amazing news thank you .

@BIG2hats

Жыл бұрын

Please don’t get into shared ownership with this being your exit plan, this is an extraordinary case study.

@sweetgangsteress

Жыл бұрын

@@BIG2hats thanks but like i said ive never been a fan of shared ownership therefore i dont plan on getting a shared ownership. I just think it’s amazing news for him and happy he’s shared. Thats all.

Good for you 👍

Remind me in a few years

Protect this man

Hi Matt, thanks so much for this video. I had a question about the staircasing bit. Did you buy the actually put cash in to staircase to 100% or no?

I cannot believe that you bought that flat… next to Windmill Lane!! We were about to buy one of those at street level hahaha

Twinkle toes, sharp on your feet there. good channel this for younger people to watch, I told my 30 year olds to follow this chap in place of asking me.

I am trying to go through the same process right now. It is a bit difficult to get information from the HA and many of the real estates agents don't even know about the option of staircasing and selling at the same time. I had several evaluations from some estate agents and the Foxton's one was the lowest. I am also concerned about the RICs evaluation. My HA recommends to go for one of one of his pannel professionals which I believe will play against me. Thanks for the video. It is brilliant :)

Can you teach me how to do this Matt? Im intending on buying my own place this year and shared ownership is likely going to be my strategy.

nicely done

Brilliant 👏

This is interesting, i was one of the 5-8% that did staircase to full so im essentially out and let it out overseas now but wouldnt really rec shared ownership although some could argue its better than double charges with htb. Mine was also in the olympic park so some upside just being able to access the area. Rics surveyors seem to just be able to make a lot up, and I also did a valuation challenge to lower a staircase quote but your challenge doesnt have to be accepted by the original surveyor. Headache system all round, wouldnt probably ever buy a flat in london again.

@MattBrighton

Жыл бұрын

I’d never do shared ownership again if I had the option. Such a nightmare system. And housing associations not set up properly to deal with shared owners. Found the whole thing frustrating from start to finish despite some wins in between

Great video, thank you! Quick question: If the property value decreases, would you pay less for the remaining shares? If a person is able to haggle with the independent valuer to lower the price, I'm wondering whether this method could be used to reduce the cost of the remaining shares as mentioned above. Would the property developers, housing association, or mortgage providers own valuers allow this as, from your example, my understanding is that the scheme provider must accept any legitimate RICS Property Valuation? It would be great to hear your thoughts, and thank you in advance!

Your solicitors sound great, would you mind sharing who you used?

wow - I want to sell my shared ownership flat in 2023 -so this is very helpful thanks you

@jamesrutherford2

Жыл бұрын

Was you shared home wit Clarion?

Wow !!!!!!!!!!!! Amazing !!!! A huge congratulations to yourself!!! I am genuinely sooooooooo happy for you !!!! You are smart. Therefore, you deserve this outcome. You must be extremely happy for this !!! I am also own a shared ownership property and want to sell it, and this video is extremely helpful for me. I am so grateful for your videos, as they are very helpful for people like me Thanks a lot !!! You are an amazing person as you are helping others in life. I hope you will but a new property where you will be happy.

@anthonyfaucy2761

Жыл бұрын

I've reported the exploit to the social housing regulator so chances are you won't benefit lol

Well done

Thanks for sharing.... lucky man 🎉

Hi Matt, Just saw your channel yesterday and been watching your great videos and progress. I have a question about this property sale. Why did the housing association let you continue to sell the property on the open market when you came back with a £560k RICS valuation?

@MattBrighton

Жыл бұрын

I asked the same question (can I still sell open market at 560k) they said it does fall back within affordability for shared ownership but I think minimum income was about 80k. So to find a buyer they’d need to earn more than 80k but less than 90k which massively limited the pool of buyers so they upheld their open market permission

@all-four-inches

Жыл бұрын

@@MattBrighton this is more luck than anything, to get it to fall in valuations that it perfectly fit within a certain range. Most shared ownership owners would not be able to pull this off...

@MattBrighton

Жыл бұрын

@@all-four-inches ^ This 💯

Awesome!

how did you learn about al this? thankyou for sharing

Great video, but i just wanted to ask your valuation of 620K enabled you the right to have your flat be sold on the open market, however this is not usually the case am I right? In addition at the lowest valuation you had the 2nd time around would the HA allowed you to have sold it on the open market?

Amazing! But I’m wondering why the housing association still gave you the go ahead to sell the house on the open market when the valuation came back lower the second time round ? Was it overlooked or was it not even considered? And you used the dispensation they gave you initially on the higher valuation as the ticket to sell on the open market?

Minus the, I assume, £1000 per month on rent payments of course....so your 50odd thousand equity (not 107,000 profit) is actually around 20k

@MattBrighton

4 ай бұрын

I rented out the spare room to lodgers for most of the time I owned the flat at more than the rental price, I didn't include that profit figure, add an extra £40k in rental profit under the government rent a room scheme. first £7.5k a year tax free. Was able to deduct rental costs and bills as expenses via accountant on self assessment.

Do you recommend any partcular RICS surveyors? thanks

Thanks very much for the video. Did you have a cash buyer? My estate agent said this won’t work if I get a buyer that needs a mortgage because they won’t let them go ahead offering more money than the RICS valuation says…. Any thoughts? Thank you

Is it also possible to lower price of shares (even initial shares) using those evaluations ?

did you get the valuation organiized or did you select the valuer ?

Which surveyor did you use if you don't mind sharing?

well done

Would this work when staircasing to 100% too? The lower evaluation...

So you made/gained £57k, not £110k.

Matt, great content! Do you work in finance sector yourself? Just asking because of ur knowledge of all this. I am junior doctor looking for shared ownership right now, but I earn only 29500 yr, is that enough for me to get SO? I do have a deposit around £20…

Dude. I would be bragging. Nice one!

Could you share the name of the rics surveyor that you did the valuation from ?

Real estate arbitrage - good job, man!

Hello and thank you for the video. Re: "...the minimum income required for a buyer to afford to purchase the property is in excess of £83000..." (letter from the Local Authority). I wonder how they figured out this number. At relatively standard multiple of 4x, the maximum mortgage would be £332k which for a 40% shared would equate to at least a £830k property (that's assuming a 0% deposit i.e. 332k/40%, whereas with a deposit it would be higher). But your flat's valuation was circa £600k. I wonder whether it could be a mistake that they thought a 40% share would require at least 83K income?

leyend well done

This kind of thing would only works in a rising market where you find a buyer willing to come in at a high price. Over the next few years in London, this won't be the case.

Hi Matt, how was the last 560k valuation out of affordability if you bought it for more yourself? Or did they just not revoke the open market permission once you gave them the revised lower valuation?

Question on paying the stamp duty as a first-time buyer, would you recommend to pay the full market price or the share value which will be free? I am planning to staicase in the future but I was told the stamp duty is not refundable

Hi Matt.. would you be willing to do a video on HOLD Shared Ownership and how to overcome the barriers on this. Thanks

@Lisa-jb5nr

2 ай бұрын

Absolutely - I'm totally stuck in this scheme!

Hi Matt. Thanks for your great a video! How would you comment about potential risk of buying 25% of a second hand house (divided by 3 units) under share ownership method?

@MattBrighton

Жыл бұрын

I wouldn't think it's possible, unless a HA is selling a house in this way? Typically you tend to get it on new builds & resales of new builds

Knew most but Not the subsale relief well done sale online best instead of giving money away How long did thos take to sale?

Agreed with everything except for the part where you mentioned cost of shared ownership or buying same property outright are similar, in reality shared ownership property cost significantly less because rents via housing association are much less than rent on open market.

@hughgallagher

Жыл бұрын

Is that true across the board though? Whenever I have looked into buying SO vs BUYING OUTRIGHT, the SO rent + service charge + mortgage was about the same as 100% mortgage.

@Scorpiothebest2009

Жыл бұрын

@@hughgallagher In general Houses/flats sold under the control of HA are lower priced compared to new build market value. They are part of the % the developer needs to provide as affordable rental /sales to the local council.

Hi Anyone have any advice to get open market access? It just varies between HA and HA - are there any set rules? I may be only able to do this by getting a very high RICS valuation so nobody would buy it in the nominated period and then they would have to give me open market access.

You shorted the shared ownership market. Nice.

40% of the £57k was already his - so the true bonus was £34k - which the HA should have said we get 60% of the sale subject to us accepting the offer as well

This does not work with Clarion/Latimer. They will take their % of any sale above the RICS valuation.

Great video. I believe with my housing association they mentioned on the lease that should you wish to sell your shares then it will have to be sold to them first before it can be allowed on the open market should they not able to find a buyer. Also the price will be based upon the RICs surveyor valuation so no room to gain anything there unless it’s higher valued. Also I seem to remember you can only sell the number of shares you own not at 100% unless you completed staircasing.

@MattBrighton

Жыл бұрын

I couldn't sell just my share, hence using the buyers funds to staircase it first, then instantly sell it to them known as a 'Simultaneous Staircase and Onward Sale Transaction'

@dtait3222

Жыл бұрын

@@MattBrighton Hi Matt, Thanks for the video, something of a godsend we are in pretty much exactly the same position and in a similar location as you, we also have an EWS1 form issue but that is another story - Couldn't for the life of me think that the transaction was called so additional thanks for that well

@otuzuul77

Жыл бұрын

@@dtait3222 did you sell ur share? How u doing?

@dtait3222

Жыл бұрын

@@otuzuul77 it's on the open market at the moment it's a bit slow going, We couldn't beat the RICs valuation down very much but should make a bit of extra money when it does eventually sell

@otuzuul77

Жыл бұрын

@@dtait3222 I see. I am looking to buy SO as I cannot afford the freehold. How long did u stay in ur SO apartment, or when did u buy?? Which HO did u buy from? Good luck with the selling 🙏

The guidance isn’t poor. Solicitors don’t bother reading the guidance. I recently dealt with a solicitor was using a SDLT form from 2003. Despite me informing them the form had been revised since then. Solicitors are not tax professionals, but they also some can’t be bothered to learn or blame it on back office staff for errors and late penalties.

Yeah this doesn't always work... we are in London and have had 1 viewing in 7 month, 5 months of that has been on the open market... we've had to drop and we will lose that money, because the RICS surveyors say there isn't enough movement in the market to drop their valuation. You were incredibly lucky. May I ask who your housing association were? Ours do not let you keep everything above the RICS valuation!! It makes me kinda sick they have all these charges when many shared owners have such little equity it would trap them!!

@MattBrighton

Жыл бұрын

Mine was NHG. Are you L&Q by any chance? I had a viewing with them initially and found them super inflexible, full of red tape and in some ways unfair. Would they split the loss with you if the flat sold less than the RICS valuation? I'm hearing it varies by housing association. Mine expected me to pay the full loss, so would be unreasonable for them to expect anything if a profit was made.

@ginganinja93

Жыл бұрын

@@MattBrighton I'm with Catalyst! mine expect me to take the full loss, but still want their profits of anything over 🙄 it seems like there's so many loopholes that cost us as shared owners! We're lucky we have equity, but imagine 25% owners who put down the minimum, if that was us we would be trapped and unable to sell as we'd have to pay to leave... pretty despicable 😵‍💫

@micaheron

Жыл бұрын

Can’t wait to be free of SO! Just hope I don’t become trapped because I can’t afford all the fees with selling. I only own 25% but hoping it might work in my favour being more affordable to someone else 🤞I heard it harder to sell at a higher share value as people would rather buy the property at 100%. And I’m so lucky that my flat has doubled in price 😮

Matt I have shared ownership flat. I am not clear on ....how did you manage to pay full amount to housing association which was your buyers money ..,to claim full equity?

Is it not likly that once you get the new valuation to bring the house down again the housing association will want to sell the house for you as then minimum income requirement will be lower and therefore easier for them to sell making it more beneficial for them? Could we go to all this work for them to then sell it themself causing you to in-fact take a loss?

Great video, is the same idea with regards to a lower valuation applicable for when remortgaging your home to repay a government backed help to buy equity loan on the property?

@MattBrighton

Жыл бұрын

Had a similar question on this - I'm not 100% sure how it works with the HTB equity loan, I know you need a RICS valuation, but unclear whether you can sell at a price you dictate or whether it HAS to sell for the valuation price.

@alexandraw5420

Жыл бұрын

No need to sell for rics valuation price HOWEVER, it is the higher of the two that government takes for H2B repayment..

I think they will likely close this down by simply adding additional restrictions around the valuation process as this where the variables are that do not work their favour.

@patriciafarrell8620

Жыл бұрын

The HA I deal with only allows valuations from their specific list of surveyors who report only to the HA . You are not allowed to ask a local estate agent and persuade them to value the property at a low value.

for this to work you need to sell on the open market ? I think my place is made available to the housing association for 1yr after that you can sell on the open market ,I'm not over the limits on price so I'm thinking this would not work in my scenario

by the end of 3 years did you actually own the 40% of the apartment or was that just the value you paid mortgage for? That would make a big difference. Sorry for the newbie language as I am trying to understand how exactly that loophole works

It is a loophole and full marks for achieving the results. But it probably isn’t as big a loophole? Because it hinges on the affordability cap which means the property has to be within that price range. A shared ownership flat at 500k is almost certainly not going to be sold on open market, right?

If true, very odd that just below £600K was deemed 'unaffordable' for the SO scheme, as there are plenty of London SO flat above that figure - going up to £850K

I have a shared ownership, rural 3 bedroom house in Devon past 10 years, love it. Not sure this system would work though, as much lower than London prices, prob worth ~£260k. Also as it's a rare property, they only allow staircasing up to 80% and not sure they'd break their rule and let me buy 100%? Currently own 40%.

@antonolsh

Жыл бұрын

Doesn't sound right, mainly because this scheme must have a way out. Owning those shares does not actually grant you any equity. If you break the lease terms you can potentially lose all the premium you paid. Hence it only makes sense to get to 100% and actually own something.

My flat. You are not allowed to sell at a different price. You have to go with the surveyors valuation. No more no less. You can get another valuation from their named surveyors. Not the ones you find.

This is very clever - well done !

You dodged a bullet on SO mate