Alex Kerr - Mortgage Chain Ltd
Alex Kerr - Mortgage Chain Ltd
Mortgage Broker for First Time Buyers!
We will charge a broker fee between £799 and £2499 payable on receipt of mortgage offer. The amount that we charge is based on the amount of research and administration that is required.
Mortgage Chain Ltd is a trading style of Mortgage Ready, which is authorised and regulated by the Financial Conduct Authority. Registration number: 911773. Mortgage Chain Ltd Limited makes no representations, warranties, or assurances as to the accuracy or completeness of any of the content of this video, including any opinions, statements or claims expressed, which are entirely the personal opinion of the authors, which has been provided for information purposes only, and should NOT be relied upon for any situation or need, and nor should anyone rely on any of the content provided in this video. This channel does not constitute mortgage advice.
YOUR HOME OR PROPERTY IS AT RISK IF YOU ARE UNABLE TO MAINTAIN PAYMENTS ON ANY MORTGAGE OR LOAN SECURED AGAINST IT.
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I had 2 dip offers from 2 different brokers/lenders but they were not whole of market. They worked one lender so I am not getting the best whole of market rate am I ?
Alex, how can i reach you.
Hello Alex. How can I reach you.
Perfect. Thanks.
@@aaronrebello8319 thanks so much ! Glad you found it helpful. Have a lovely day. Alex
👍
Excellent and informative video. Thanks for the clarity. The £799 to £2499 that is mentioned as the Fee through you/your company. Is this inclusive of all the steps including Surveys etc. (I.e. From start to "Keys in your hand") Or Is this the fee just to oversee the process. Ie. I would have to pay Survey fees, Solicitor fees that you recommend etc? I'm just trying to work out, apart from the cost of the deposit. Around how much I need to set aside for fees? Thanks in advance and thanks for providing all the useful content 😊 👍
My question: why all these videos about 1st time buyer mortgages are manuals how to lick asses of the: banks, sellers, lawyers, etc.? Only seller is important, the rest are parasites. Also, it is the seller that should be nice to me, not me licking their asses.
😂 best one to date Brothers😂
Re point #2, I feel like a lot of estate agents are using manipulative tactics during the viewing process to get potential buyers to use their broker, solicitors etc at least from my experience. This has been my experience over the past 5 months and despite being a good candidate, I can’t help but think I’m missing out on buying a home because of this. 😔
Hi is it possible to do remortgage and give the money to help a family member to buy their 1st home?
Can a first time buyer ... Buy an old house and still be eligible for first time benefits
Alex, bankers say that the new normal for interest rates will be around %3-%4, not like 2010s anymore, right?
Hello Alex, would you recommend Bishopsgate solicitor? Have you worked with them before?
How do lenders view money that came from gains from crypto or money taken as a loan against my crypto ? I have Ethereum, I’m not looking to sell it so I took a loan against it, can I use these funds as deposit for the house ?
out of curiosity why did u buy crypto its so volatile and a massive risk
@@elitalisman9863 Only for those who knows nothing about it
@@elitalisman9863 I am blockchain developer and security researcher, and crypto is my world. Most of my capital has been in crypto for years. Once you understand the drawbacks of fiat system, crypto becomes obvious
You are really a mortgage expert 👍
Is there an update for 2024?
With a history of bad credit within last 6 months, I have managed to pay off all my debt recently and have a 50% LTV. Will my credit profile change within the next few months?
Thanks for the info. I'm a 43 year old single mom and recently started my own small business. I make 1.75 k a month now, and forecasting to hit 2k in the future. I saw the shared option and I'm wondering with my income now whether I can buy instead of renting. I am also hoping to increase my income. I am saving up for 5K deposit. Am I dreaming or is it possible with my income and age?
Hi. My house was valued at 80.000 and got it for 40.000 fixed for 10 years. I have about 3-4 years left. Can I take 20.000 of equity ?
You shouldnt use flashing lights in editing like that
@@Zathena Why’s that ? Epilepsy?
@@alexkerrmortgageI agree it's not easy on the eye
I’m 30 and still live at home. Decent amount saved. Shit scared of having to pay off a crap house for 35 years. Renting doesn’t sound so bad because it’s so casual, and you’re not up to your knees in debt. What the fuck do I do?
Finally someone of my mindset ;) The 30 years is just so scary, and these awful UK houses need a ton of maintenance, and they are never warm, unless you tear it apart and rebuild from scratch. My only solution to this: get a remote job you can do from (ideally) anywhere. Go to X country with a low(er) cost of living for a couple of years, save your cash. Then buy somewhere, anything but a leasehold in the UK (so many fees you have zero control over), which kind of means you have to buy a house, because hardly any flats are freehold... , and buy in cash. This is purely theoretical and I haven't tried it out (yet), but I think it could work.
@@IstanbulNerd-hz1kg are you kidding? I have a decent amount saved but not £200,000 for a small house. Who has that kind of money in savings?
I always find your videos a great help Alex Thank you. Hopefully my wife & I will definitely be prepared when the time comes. I have been looking at shared ownership properties. However they are expensive in my area. My stepmum suggested going through right to buy with our 2 bed but would rather wait for a 3 bed to not pay stamp duty.
If you have an option for right to buy I would certainly consider that strongly, as you could sell after the pre exemption period and have a decent deposit.
@@alexkerrmortgage My only worry with that is, If we did go through right to buy we would loose our FTB status & have to pay stamp duty on a 3 bedroom property which we probably couldn't afford. My wife still isn't in work anyway.
Great video as always
Thanks very much!
They only asked me for 3 months proof of deposits and my deposit was £70000
It would be great if every application was like that, but it’s best to be prepared for them throwing the kitchen sink at you.
My approx lend is £144,500. I’m looking at a 220k house. Does this mean if I can come up with the £75,500 difference I can purchase get the house? Just finished apprenticeship so struggling to get higher income out of the gate but doing well at saving, don’t want to risk joint share with my girlfriend as I’m only 21. Thank you
Thanks for watching at the correct in regards to the purchase price of the property. Good luck with everything, keep fighting and you you will get there.
@@alexkerrmortgage spot on cheers for the reply and content you provide. Really helps, especially when everything today seems out of reach. 45k to go… definitely possible, budget budget budget lol. I find it interesting most people my age (that I know) have put off even thinking about buying a house, makes me wonder if I’m going to buy before a big drop because no one buying 🤔could ask yourself that question for the rest of your life though I suppose😂
Hello Alex, and anyone reading this, how are you? I've been checking properties for a month or so and I need some help or advice. 1)New flat of plans that will be ready end of summer 2)Show room was initially announced May-June 2023 3)From Sales person 40% is sold, 20% is reserved for lower income and the rest is unsold 4)On my first time viewing the show room and floor plan from a plot, the sales person offered a 1 bed priced at 470K for 380K (quite a discount) 5)I am thinking on putting an offer down from the discounted 380K. What price should I make the offer for?, what is you opinion?
Hi, putting in an offer would require me to have much more info… that’s quite a discount. Are they well known developers ?
@@alexkerrmortgage yes
Hi Alex, I really like you videos. Great job... I have a question is it possible to buy a house with 59k per annum and 5% deposit? How much I should have left per money to survive? Will appreciate your advise. No loans , no kids, all credit cards pain... is it achievable?
That’s a good salary and we could look at lenders with enhanced income multiples. Feel free to book a free chat with me to discuss - link.alexkerr.co.uk/mortgage
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Majority of my deposit is from gambling matched betting will this be ok
I’ve never done this and wouldn’t take it on myself as pardon the pun but too much of a gamble. I would just call up high street lenders and see what they say….
Great advice about downloading all the statements regarding savings Isa's Alex. Hope you are well. I still look at properties every now & again on rightmove but shared ownership properties in my area are more expensive than renting.
Thanks for watching. Hoping rates will come down soon for you and might make it a bit easier.
@alexkerrmortgage To be honest I doubt it will make much difference until my wife goes back to work part time which may not be for a few years yet. I'll probably be in my 40s by the time we buy our 1st house
Thank you for this advice 🙏🏼
Thanks for watching!
Great advice. Thank you.
You are welcome!
Thanks for the video Alex, its very informative. I have a small default (less than £30 from a phone bill) on my record, that was almost 4 years ago. How much of an impact would that have on my ability to get a mortgage? My partner has a very good credit score, so im not sure how much of an impact that would have as well. Any information is greaty appreciated, thank you 🙂
Hi Harry. A lot of High Street Lenders will decline this, however we work with one or two that will show more flexibility. Feel free to get in touch for a free chat whenever you’re ready. Here is the link to my diary - link.alexkerr.co.uk/mortgage
Many thanks Alex. This is very useful. If the gift is coming from a foreign husband is that considered as a gift? And are there a limit of how much they can gift me?
Which country is the gift coming from? Is your husband going to be on the Mortgage?
@@alexkerrmortgage it’s coming from east Africa and he won’t be on the mortgage.
Hi I need advise for remortgage
No problem at all. Please book a free chat with me using this link. link.alexkerr.co.uk/mortgage
Can I buy 50% share on my name And After couple of years, can I get mortgage on my wife name and can I buy rest of the 50% from the housing association?
Yes this should be able to be engineered… As long as the housing association is happy for your wife to come on then the mortgage can be doable with a transfer of equity. Feel free to get in touch if you need help with this at any time.
Yes mine is in 27 from the UK and I could really do with some advice.
No worries at all. Would love to help. Please book a free chat with me using this link. link.alexkerr.co.uk/mortgage
@@alexkerrmortgage will do tomorrow! Thanks!
Hi can you please advise any conveyancing solicitors who could also verify gifted deposits from overseas (blood relatives)?
You can use this quoting portal and I would choose right choice conveyancing or O’Neill Patient - www.mortgagechain.co.uk/quoting-portal
Does this still work in 2024?
Sorry, afraid not… However there are 100% mortgages. Do you rent it at the moment?
Still waiting on mortgage offer after the evaluation bien ok
Good luck!
@@alexkerrmortgage thanks
@alexkerrmortgage I have couple of questions if could advise?
i heard you can still get mortgages when you start a new job or a recent job with just 3 months payslips? I had a gap of 3 months between my jobs as my contracted ended with the previous one and it took me 3 months to find another one
You can as long as its contractual and not self-employment
In theory Mortgage Lenders only require a three month history, however you’ll stand a much greater chance of Mortgage success if you get 12 months under your belt, which is what I would recommend.
🙋♂️, I wonder if you have a video explaining, one year self employment and a full time paid employment mortgage?
Hi, do you mean you have an employed and self-employed position?
@@alexkerrmortgage hi Alex, it’s all good, I spoke to you today
Clickbait- do not recommend on the top right
Absolute con. Do not go shared ownership route.
Hi Alex, My grandmother has sold 2 houses. She gifted me the money abroad (tax free in my country) Imthey money are in my account abroad and I looking to send them to my uk bank account. Can I use the money for a deposit let say 10%? The lander will accept it?
This sounds quite complicated… I would book a free chat to discuss further when you are ready using the link below. Many thanks, Alex.www.mortgagechain.co.uk/quoting-portal
Shared Ownership is legal property scam .Stay away..
Is Barclays good to mortage a house for non standard built houses?
It’s hard to put a yes or no on there without knowing further details… Let me know if you want to chat further.
A couple questions if anyone knows- 1. My credit rating is a lot lower than when i first took out the mortgage. When the fixed rate ends, would i likely be paying svr if my credit is not good enough to remortgage? 2. I am not sure how much longer i want the property as I may want to live with a partner or have other life changes. If i am exoecting this life change, is it possible to fix the new rate for less than 2 years? 3. Has anyone here remortgaged with bad credit/defaults? I have never missed a mortgage layment but have missed payments for other things.
It doesn’t matter that your credit score is dropped, it’s all about your credit history… It would be easier to answer your question with your credit file. In regards to question two, most of the time two years is the minimum fixed rate you can have some High Street lenders provide variable rates with no ties. We help people remortgage with bad credit so feel free to get in touch for a free chat using the link below at any time. link.alexkerr.co.uk/mortgage
A couple questions if anyone knows- 1. My credit rating is a lot lower than when i first took out the mortgage. When the fixed rate ends, would i likely be paying svr if my credit is not good enough to remortgage? 2. I am not sure how much longer i want the property as I may want to live with a partner or have other life changes. If i am exoecting this life change, is it possible to fix the new rate for less than 2 years? 3. Has anyone here remortgaged with bad credit/defaults? I have never missed a mortgage layment but have missed payments for other things.
What about if you have come out of your DMP a year ago and have decided to take control of your own debts
As long as the DMP is over 12 months old and you never missed a payment then you will have some options… If you want to discuss at any point just book a free chat with me using this link link.alexkerr.co.uk/mortgage