How much does the average mortgage cost in the UK? How does my mortgage compare?

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  • เผยแพร่เมื่อ 29 ต.ค. 2024

ความคิดเห็น • 100

  • @Pulpdiction1999
    @Pulpdiction1999 หลายเดือนก่อน +5

    How many of these people who think it is too much drive a lease car they renew every 3 years for £400, £500, £600 per month. I know some who couldn't afford to over pay their mortgage and took 25 years to pay it off, even though they bought their house in the 1990's for £50k, they had 3 new cars on the drive/road, one each and one for one of their children and were paying £1,000 a month in car payments - plus insurance etc. I've never had a new car, my car is paid off and am paying £1800 a month mortgage, but I have decided to try and pay mine off in 7 years - hence why it is so much. If I left it to overpayments the money would just get spent elsewhere.

  • @patmartin9727
    @patmartin9727 หลายเดือนก่อน +5

    Thankfully I am mortgage free but I am also in my 70’s . We had a tracker mortgage which allowed us to make as many over payments as we wanted to. This allowed us to pay off our 25 year mortgage in 12 years. Like you we initially only paid the agreed monthly payment but every time we received extra money from things like overtime or bonus payments we paid it off the mortgage , if we got pay rises half of that went to overpay the mortgage. This allowed me to down size, pay cash for my prescient property and also pay cash for a buy to let property. The buy to let rent is part of my retirement income. There is no greater feeling than owning the roof over your head outright.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      It’s great to hear you have managed to own not only your own house but a rental house outright too! 👏🏻👏🏻 well done!
      Over time I think I will follow a similar strategy as yourself and use overtime and any additional income to overpay my mortgage 👍🏻

  • @sylsuthss
    @sylsuthss หลายเดือนก่อน +3

    Unfortunately we do not know the true cost of a mortgage in the UK as the rate is not fixed like it is in the states. I just over pay each month as my end goal to pay it off in 10 years instead of the 25 year I have taken out. Mine is above the average and I am a solo owner.

  • @matt49125
    @matt49125 หลายเดือนก่อน +3

    £1181pcm here and I live on my own in the South. 10 year fix at 2.5% back in 2022. £400k+ house

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +4

      That 10 year fix at 2.5% is looking like one hell of good decision 👌🏻 I hope I can remortgage on to a rate like that in 4 years time when mine expires.

  • @shelleyk7462
    @shelleyk7462 หลายเดือนก่อน +4

    As a single person living where I do on the salary I make I could not afford a house of £184,000. I bought my house in mid 2000s and I put down 30% a deposit. I’m currently overpaying my mortgage and I have been doing for the past year. I aim to pay the mortgage off in the next three years. When I reached the age of 50 I seriously started thinking about my retirement (I know…a bit too late!) and I became worried that I wouldn’t have a good enough workplace pension to live off and I’m not sure what the state pension will be when I come to retire. My mortgage payments are currently under £300 per month which gives me enough money left over each month to overpay.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      Hey Shelley, that’s awesome to hear you may be mortgage free in the next 3 years!! 🥳 50 is a little late to think about retirement, but then at the same time from 50-66 that’s still 16 years of traditional working years left, plenty of time to really focus and make a dent in your pension savings and maybe even retire early too. The main thing is it’s now on your mind and you’re working towards something rather than bumbling through life like most people do.

  • @beckybookreviews7820
    @beckybookreviews7820 หลายเดือนก่อน +1

    Your video popped up on my recommended page and i am glad it did. This was really interesting. I'm 38 and have had a mortgage for 10 years. Just renegotiated as my 5 year fix ends in a few days. I also make my monthly payments and give lump payments to chip away at the mortgage. I now know that if i carry on as I am doing, i will have paid off my mortgage in the next 2 to 3 years (when i started it was a 25 year mortgage). I have no other debts so the thought of me entering my 40s debt free and my home mine makes me feel good and i am proud of the sacrifices i've made to get there

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      Im glad it popped up on your feed too, thanks for watching! You should absolutely be proud of the progress you have made, most people in your position would still have another 15 years on that mortgage ahead of them, the fact you only have 2-3 shows how hard you've worked at it.
      To be debt-free from 40 and beyond sounds like a great way to start a mid-life crisis haha!
      Thanks again for watching, i really appreciate it!

  • @andrewg6035
    @andrewg6035 หลายเดือนก่อน +1

    I think you're doing really well. You have clear goals in mind both of your mortgage and pension, which is the first step in accomplishing them. I was very lucky and paid off my mortgage at age 49, I was also able to retire then, thanks for saving I had made pending my pensions paying out of age 60. It definitely wasn't easy, but like you I had these goals I wanted to achieve. Both my parents died relatively young and this definitely helped focus me.
    Please keep on educating people with your videos and I look forward to seeing your channel grow.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      Thanks for the kind words! 😁 I hope to do something similar to yourself in that once I get the mortgage paid off that will free up a lot of money each money and make early retirement much more of a possibility 👍🏻
      Thanks for the support, I couldn’t do it without people like yourself watching and commenting!

  • @farahyasmin1790
    @farahyasmin1790 16 วันที่ผ่านมา

    I pay £350 pcm with 1.8% interest fixed term till 27’, 5 years in and I have less than 60K to clear. I’ve always kept my monthly the same and paid overpayment of 10% lump sum, annually. Hoping to clear it in the next 5 years God willing. Interest is the worst!

    • @JacobBurchell
      @JacobBurchell  16 วันที่ผ่านมา

      1.8% is a fantastic interest rate! Good luck in your goal of clearing it in the next 5 years! Life will be so much better without having the mortgage to worry about 😁

  • @susanlewis1953
    @susanlewis1953 หลายเดือนก่อน +1

    Blimey. Ours is £568 per month which seems low - less than £50k owed over 8 years 9 months - 3.25%. Thanks Sue 😊

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      Better to be low than high! Less than 50k, not far to go now then... maybe you could push yourself and get it paid off in 5 years? Either way, mortgage freedom is not too far away for you, well done!

  • @jamiefarrell4425
    @jamiefarrell4425 หลายเดือนก่อน

    Top tip, instead of over paying on your mortgage put any money you would overpay in a stocks and shares ISA invested in Global Equities. It will make more growth than the interest you’d pay on your mortgage. Then when the balance of your ISA is greater than your remaining mortgage you can pay it off. It’s a more risky approach but the benefits should make it worthwhile.

    • @LawrenceTimme
      @LawrenceTimme 8 วันที่ผ่านมา

      Not worth it at all. A mortgage is 100% guarantee roof over your head, stocks can go up and down like anything.

    • @jamiefarrell4425
      @jamiefarrell4425 8 วันที่ผ่านมา

      @@LawrenceTimme if you’re not willing to take a little risk you’ll struggle to grow wealth.

  • @l9jack
    @l9jack หลายเดือนก่อน +1

    My mortgage is £920 pcm but we’ve rounded it up to £1000 for a regular £80 overpayment every month.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      A nice round number and it means you’re paying it off sooner, happy days! 😁

  • @jack504
    @jack504 หลายเดือนก่อน +1

    You might be better of chucking spare money into a stocks and shares ISA rather than making overpayments. Likely to make more than the mortgage interest and you can actually access the money in a few days if needed (3 days with Vanguard i think), in case of an emergency.

  • @frugalhappy9572
    @frugalhappy9572 หลายเดือนก่อน +2

    Mine is below £300.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      That’s awesome to hear! 😁 I’m a little envious to say the least haha!

  • @johnfuller3973
    @johnfuller3973 หลายเดือนก่อน +1

    That’s great to hear you are on the property ladder - well done!!
    Would be interested to know what the median mortgage payment is as opposed to the average on the figures you mentioned…
    Over payment turns compound interest into your favour in regard to reducing your total payments when using it as a comparison..

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +2

      Thanks John! 😁 I knew there would be someone pointing out I should have done the ‘median’, I even thought it myself once I’d finished filming and started editing😆 might make a new video next week on the median haha!

  • @ace2363
    @ace2363 หลายเดือนก่อน +1

    Ours is about to be £1,907 for 34 years and that is cheap for London 😢

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      Wow that’s nearly £1000 MORE than my payment… how much is the mortgage for in total?
      Fingers crossed you’re in a good position to be able to afford that payment along with everything else you need to live comfortably 🤞🏻

    • @papadajnia268
      @papadajnia268 22 วันที่ผ่านมา

      You are slave for rest of your days 😢😢😢

  • @Pierremontquaker03
    @Pierremontquaker03 หลายเดือนก่อน

    I have been mortgage free at the start of the year, Im 48. Now I am saving to renovate and modernise the house - I am probably going to have to fund it partly by a loan- but I have certainly felt great with no mortgage around my neck. Infact I have gone more risk averse, I could afford to drive a brand new car, but choose to drive a 12 year old Mazda as I see the loss of money in car ownership.

  • @69spook
    @69spook หลายเดือนก่อน +2

    Good idea to pay off your mortgage by 50. After that age it becomes harder to hold down a job. I watch lots of videos on u-tube of people made redundant in their 50s & find it hard to get back into the work force.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      Your right, Iv watched a lot of similar videos too and I actually know a few people who got made redundant in their early fifties so I feel like getting rid of the pressure of a mortgage at 50 or even before if possible would be a major relief going forward as I would be far less reliant on my day job without the mortgage 👍🏻

  • @Signedpeach
    @Signedpeach หลายเดือนก่อน +5

    very cheap compared with rent

    • @andrewlancefield3730
      @andrewlancefield3730 หลายเดือนก่อน

      Well you don't have to carry out maintenance or be trapped in a location. Zero risk renting

  • @Tensquaremetreworkshop
    @Tensquaremetreworkshop หลายเดือนก่อน

    Technically, you do not have a mortgage. You give a mortgage. It is a lien on your property to guarantee a loan.
    My last home loan was for £25K- I did not need that much, but you got tax relief on up to that amount. My marginal tax rate was 55% (this is going back a bit...) so it was a no-brainer. I invested the excess and got a return on my loan! Term loan (interest only) to maximize gain. Capital was against an insurance policy- which gave 50% tax relief on the premiums. When tax relief disappeared, I paid it off.

  • @Manos-de-Piedra
    @Manos-de-Piedra หลายเดือนก่อน

    Hi Jacob,
    I bought my house in 2018 for £150k, the house is now worth approximately £190k, as I’ve been living in the house since 2018 the mortgage is now about £119k , do you think it would make financial sense to stay in the current house and pay down the mortgage or up size to a better property, my current house is a 3 bed detached, I know it’s quite a subjective question but I’m think financially would it be better to stay put or move to a better house bearing in mind I have quite a bit of equity in my current property

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      Hi Manos, I’m no financial advisor but it all depends on what your goals are for yourself and whether you can see yourself staying in that house long term. For instance do you think it provides everything you will need for the future? If the answer is yes then absolutely stay and work towards being mortgage free. If not, then it’s probably better to move sooner rather than later into a property that is future proofed and then work towards paying that house off. That’s what I did last year, I sold my old house and moved to a new house and new area that I felt would best serve what me and my wife want for our future, and I see this house as a long term house so Iv spent money on renovations to get it to how we want it to be, and now that is mostly complete I’m going to start working on paying the mortgage down.
      Hope that helps you out in some way! 😁

  • @sinnyozzy
    @sinnyozzy หลายเดือนก่อน +2

    I think anyone is mad to take out a loan of 200k in today's climate. My partner come into 90k inheritance, we moved 400 miles to purchase an 80k 3 bed house outright. No regrets at all, the move was worth living debt free.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +2

      That’s awesome! Not a lot of people would be willing to move that far away but for the financial freedom it gives you and I don’t blame you at all! What a load off your mind knowing you own your house free and clear 👏🏻😁

    • @sinnyozzy
      @sinnyozzy หลายเดือนก่อน

      @@JacobBurchell Yeah, and I realise not everyone is lucky enough to have the head start we did (we were two struggling millennials before the surprise inheritance), but we did have to make a decision about an expensive mortgage down south, or a big move up North. We decided financial freedom was going to be the most important thing moving forwards, with housing and financial security being so at risk in the modern age. We found a very friendly and accomodating town on the cheap. It's the only wisdom we have to impart on others. Please crunch those sums and don't spend your life paying the banks interest

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      @@sinnyozzy wise advise and I will take it on board. Thanks so much for sharing your story and supporting my channel 😁

    • @JD-ny9qj
      @JD-ny9qj หลายเดือนก่อน

      It’s the only way to get onto the property ladder… unless you have rich old relatives to give you a free handout. It’s not madness it’s just how house ownership works now; madness is renting the same place for 25% more money without building any equity. And the reality is that the north is poorer, by moving up there you’re just making house prices more unaffordable for people who are born and raised there.

  • @ant270
    @ant270 หลายเดือนก่อน

    Simpler If you view it as 'renting' but, you have the real possibility of getting your money back eventually.

  • @carlbrewer9428
    @carlbrewer9428 หลายเดือนก่อน

    Mine was 4.38%, took out in January this year through Halifax. It’s on a £370k house though. Thankfully we have built a passive income that far surpasses that, so we don’t actually use any of our ‘worked’ income for housing costs

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      A passive income that covers your entire mortgage payment is incredible, congrats man 👏🏻😁

    • @carlbrewer9428
      @carlbrewer9428 หลายเดือนก่อน

      @@JacobBurchell covers mortgage, council tax, utilities, even broadband and sky costs. Runs out after that though, plan is to increase it to cover the lease car too, but got a bit to go for that yet

  • @beckilovesmex
    @beckilovesmex หลายเดือนก่อน

    Gosh, my rent is £965 and goes up every year, and that is cheap for my area. When looking at mortgages for a 2 bed flat/house near me the mortgages come to around £1,400-£1,600. Feel like I have no chance at all of owning a property as half my wage goes on rent alone.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      Hey! There's no way I could afford a mortgage of £1,400-£1,600 either so you're not on your own there. Housing costs in the UK have become so expensive, especially if you live anywhere in the south of the country. The only way a lot of people will be able to afford to get on the housing ladder is to bite the bullet and make a move up to a northern town/city where housing costs are a lot less.
      I wish you the best of luck!

  • @jack504
    @jack504 หลายเดือนก่อน

    The average is skewed upwards by big mortgages at the high end of the market. The median is lower. Also a lot of people still on lower rates from Before Blunder Truss (BBT).

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      ‘Before Blunder Truss’ 🤣🤣🤣
      Yeah you’re probably right, but as those low fixes continue to come to an end the median will be increasing every month 👍🏻

  • @mmitache
    @mmitache หลายเดือนก่อน +1

    Unfortunately they don't teach this in schools.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      That’s one of the reasons I decided to start my TH-cam channel, to provide a little bit of advice that really SHOULD be taught in schools but sadly isn’t.

  • @carlbrewer9428
    @carlbrewer9428 หลายเดือนก่อน

    We pay £1288 pm for a £200k mortgage over 20 years. Plan to get it paid off way before the 30 years though

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      You have a very similar mortgage balance to mine then 👍🏻 What rate did you manage to get on that mortgage?

  • @johnpeters7003
    @johnpeters7003 หลายเดือนก่อน +1

    Average does not mean much as there are so many factors that distort it. It depends on where we live and who is included in that average. Then there is the age factor. I bought my first, 3 bedroom house, in commuting distance of London, for £47,000. That was doable in 1988. I did the same as you and sold it at much higher price and bought another house for 3 times that. I am now at the other end of your journey and retiring mortgage free. You seem to be making all the right decisions. I can see you easily paying off your mortgage by 50. But then, having followed your channel, I do not think you are average at all. If you were, you would have 1.7 kids and that would slow down your mortgage payments and your pension contributions.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      Thanks again for watching/commenting John! 😁 Glad to hear you’re retiring mortgage free, it’s a such a massive advantage to living a comfortable retirement when you don’t have to worry about a mortgage or rent payment 👍🏻 I will join you in the mortgage free club one day!!

    • @joline2730
      @joline2730 หลายเดือนก่อน

      ​@@JacobBurchell Remember, the mortgage is the least of your worries because it ENDS 😮 It's all the other bills that carry on until you meet the coffin 😏😏

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      Very true! That's why it's so important to keep your bills as low as you possibly can, especially as you get towards retirement age. Im hoping a decent private pension along with some dividend income from my stocks & shares ISA will give me enough for an early retirement once I get into my 50's.

  • @welshhibby
    @welshhibby 24 วันที่ผ่านมา

    I’m paying 1200 euro a month to rent a room in Dublin Ireland. I wouldn’t worry about your mortgage 😂

    • @JacobBurchell
      @JacobBurchell  24 วันที่ผ่านมา +1

      Well that certainly puts things into perspective 😆 I didn’t realise Dublin was such an expensive place to live!

    • @user-ht9fr6eh9u
      @user-ht9fr6eh9u 14 วันที่ผ่านมา

      why, kip in a van, stuff in storage

  • @coolsmp6688
    @coolsmp6688 หลายเดือนก่อน +1

    I think your biggest expense will be your tax bill every month

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      I don’t really class tax as a bill as it’s taken before I even get my pay at the end of the month, but your probably right 👍🏻

  • @Mrboosh87
    @Mrboosh87 หลายเดือนก่อน

    To have £160k of equity in 7 years is mad. The reality is nobody buying today will achieve that 7 years from now.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      Atleast half of that figure is my own money that Iv put into the property through my deposit when I bought the place + repayments and overpayments across the 7 years 👍🏻 it’s a decent amount of equity to have though.

  • @joline2730
    @joline2730 หลายเดือนก่อน +1

    Actually I was surprised your mortgage was so LOW ! But then, I did not know how much equity you put down and how much you had to borrow in order to purchase your £365,000 house.
    Looking at the amount you will pay back over the next 30 years, I can tell you that you actually pay back the WHOLE of your mortgage within the first FIVE years of the term ... ... after that, the bank have their money and from then on it's all profit. Go work out your repayments over 5/6/7 years and you will see 😮
    Of course, over the period of 30 years your interest rate will fluctuate, and the ACTUAL amount you pay back will not be calculable at this present time.
    The point you make about appreciation value is a good one. The more expensive the property, the more (in comparison to a cheaper house) it will appreciate. I.E. your old house might increase by £50k but your new house will increase by, say £200k or even more, over that same period of time. So the rule of thumb for first-timers is to buy the most expensive house You Can Afford. Those last three words are important because you do not want to default and lose the house!
    Overpayments: I would suggest that every month you make overpayments - you can afford an extra £10 right? So even a tiny amount like that is worth doing. Think on that. Some mortgages have a clause that limits any overpayments to say, 10% of the debt. Check yours out - always read the small print and keep asking questions, cos they (bank) just LOVE to keep you in the dark.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      I will defintely be making overpayments in the future to bring the term down and decrease the amount I end up paying back to the bank. I initially took a new 30 year term to ensure my payments were under the £1000 mark which made sure it was affordable on a monthly basis whilst also leaving room for us to make overpayments in the future. My mortgage allows 10% overpayments each year without penalty, so ill be looking to make the most of that!
      Thanks so much for watching and commenting!

    • @joline2730
      @joline2730 หลายเดือนก่อน

      @@JacobBurchell actually it will take you a bit longer to pay back that £200k probably 15 years - not worked it out properly yet ... 🤔

    • @joline2730
      @joline2730 หลายเดือนก่อน

      @@JacobBurchell You won't bring down 'the term' length, that is now set at 30 years. If you wish to actually change the term you have to re-mortgage and re-negotiate. That is obviously not necessary at all, but paying it off early achieves what I think you mean.

    • @joline2730
      @joline2730 หลายเดือนก่อน

      @@JacobBurchell My calculations, if I am right, means paying back the full £200,000 @ £949 a month will take 17.5 years. If you make overpayments you can probably bring that down to 15 yrs or even less, which is half of 30 !! 👍👍💯

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      @@joline2730 the way I make overpayments brings down the term because the overpayments knock down the balance directly and my monthly payments stay the same, therefore the term reduces and I pay it off earlier.

  • @LawrenceTimme
    @LawrenceTimme 8 วันที่ผ่านมา

    Mine is £846 a month.

    • @JacobBurchell
      @JacobBurchell  8 วันที่ผ่านมา +1

      Thanks for watching, I really appreciate it 😁

  • @Tensquaremetreworkshop
    @Tensquaremetreworkshop หลายเดือนก่อน

    I believe overpayments are better value than pension payments.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      I’m not sure I agree, every £1 I put in my pension my employer matches it, plus the added tax relief from the government makes it one hell of a good investment. Whereas any overpayment on my mortgage only saves me the 3.91% interest on the mortgage.

    • @Tensquaremetreworkshop
      @Tensquaremetreworkshop หลายเดือนก่อน

      @@JacobBurchell Yes, co-payments change the equation. But otherwise it saves you 3.91% each and every year. And, if you keep paying the same amount that you were, the amount outstanding falls, giving further savings. On an appreciating asset. Do it for, say, ten years and you can afford much more into your pension pot. Or move to a larger house, that you will downsize from on retirement- the profit being entirely tax free.
      I built (saves you up to 50% of the cost) a large house, lived in it for 30 years, and the profit when I sold it was more than my gross earnings while I lived there. So, equivalent to 100% pension contributions for 30 years. Except I will not be paying any tax when I draw it down.

    • @sinnyozzy
      @sinnyozzy หลายเดือนก่อน

      @@Tensquaremetreworkshop I watched a program about 2 years ago full of pension advisors. They highlighted that all major pension companies are gambling your pension contributions on the stock market and many had "negative equity" or whatever the pensions equivalent is. The government are being hush-hush about it because the scandal is as big as the 2008 financial crisis. They advised that if you want your monies worth, spend your pension contributions now. Solid advice I think, your pot maybe empty/defunct when it comes time to cash it in. Personally I will no longer pay into a pension pot, not only are regular pensions no where near enough to fund your retirement, with the average private pension only giving you about £5 more than state pension, but they aren't even guaranteed. I'd rather buy inflation safe assets such as gold bars you can keep in your safe. If I can find that documentary I'll share it here.

  • @dyztructive
    @dyztructive หลายเดือนก่อน

    My goal is to buy a house mortgage free. No way I am getting a 20+ year mortgage that forces me to pay near £1k a month.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      That’s a fantastic goal to have and I hope you achieve it! 👌🏻 it’s a tough thing for most people to do as house prices are so expensive in most parts of the UK.

    • @dyztructive
      @dyztructive หลายเดือนก่อน

      @@JacobBurchell thankyou! I am lucky to stay with my parents so I can save up most of my money and invest it

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      @@dyztructive that’s brilliant! If they are happy to keep you stay there as long as you can, you’ll be ahead of 95% of people if you do! While everyone else is paying rent and mortgages, you can just keep stacking your money 💰💰💰

    • @LawrenceTimme
      @LawrenceTimme 8 วันที่ผ่านมา

      Good luck with that. I tried that and i saved for 10 years. The house prices go up faster than you can save. It's pretty pointless.

    • @dyztructive
      @dyztructive 8 วันที่ผ่านมา

      @@LawrenceTimme I dont save in cash I invest in assets that outpace house price increases

  • @joanneburford6364
    @joanneburford6364 หลายเดือนก่อน

    Your figures in the UK are so low. Average mortgage in Australia is equivalent to £327K and rate is 5.9%. I assume you're not in London?

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      I believe our average salaries are quite a bit lower than Australia so that might have something to do with it.
      No I'm at least 2.5hrs away from London in the West Midlands, so housing is substantially cheaper than London prices.

    • @joanneburford6364
      @joanneburford6364 หลายเดือนก่อน

      @@JacobBurchell that is true, a lot of your medical professionals are moving out here for the salaries/lifestyle - our gain as we appreciate well trained doctors, unfortunately a big loss for the UK - enjoying your content, thx.

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      @@joanneburford6364 very true, a lot of people consider moving to Australia for lots of different professions but the medical industry is a very popular one. I know someone who moved a couple of years ago to be a teacher and I remember them telling me the salary was quite a lot higher than they were being paid here. Factor in the lifestyle and the good weather and it’s abit of a no brainer really 😆
      Thanks for watching, I really appreciate it!

  • @69spook
    @69spook หลายเดือนก่อน

    Is your mortgage for you & your partner?

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน +1

      It is, and the cat, although he doesn’t contribute anything, lazy git 🤣

    • @69spook
      @69spook หลายเดือนก่อน

      @@JacobBurchell £500 each for a whole house is pretty good I'd say. Cheaper than renting. Plus over 20 -30 years inflation will diminish the monthly payment value too.

  • @Stevenharknett
    @Stevenharknett หลายเดือนก่อน +1

    They are not going up in value it is asset price inflation and the erosion of purchasing power linked to falling fiat currency.

  • @piotrwojdelko1150
    @piotrwojdelko1150 หลายเดือนก่อน

    houses are too cheap compared to the cost of materials

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      That’s not a point of view Iv heard before. How come you think that? I would have assumed materials would be far less than the actual cost of most houses these days.

    • @piotrwojdelko1150
      @piotrwojdelko1150 หลายเดือนก่อน +1

      @@JacobBurchell materials cost has doubled during the last decade....It dosen't make sense to have a flat mainatnace costs are too high We are miserable

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      @@piotrwojdelko1150 that’s true, but haven’t house prices also increased significantly in that time too? I actually that quite an interesting thing to think about, building your own house from scratch would cost more than buying an equivalent house already built.

  • @KenKen-jt6lh
    @KenKen-jt6lh หลายเดือนก่อน

    What is that on the top of your head

    • @JacobBurchell
      @JacobBurchell  หลายเดือนก่อน

      Thanks for watching! 😁