Thank you for the informative video! You mentioned banks do stress test of 6% of LTV. With the current high interest rate situation, should we expect a higher percentage now? If there a formula for the stress test percentage? (exp: x+base rate?)
Might be worth knowing that in my experience, if you use a variable rate or a fix of less than 5 years, the lender may do a stricter stress test at a higher rate which may reduce how much you can borrow.
If you already have equity in a property and are wanting to change from a residential to a buy-to-let then... A. Do you need a deposit? B. If so is the deposit 25% of the houses value or remaing mortgage cost?
Looking to buy a property where the mortgage is likely to be higher than the rental income. Or at least on par, due to current interest rates. Will this be an absolute no for mortgage providers? Does you personal income play a part, if myself and my partner have high incomes that would more than comfortably cover the mortgage should there be no tenant for any amount of time and my equity in the property is 35%.
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Why would you invest in something that reduces your money?
Why does he need to tell you, don’t you thinks thats a rather personal question. Listen to their podcast and you’ll know he has enough. I been a listener to their podcasts for 10 years, and trust me he’s done very well so you should listen and buy this guys books too 👊🏾
you don't need to own many to know the process, I actually knew more than what's in this video just by reading a few articals and putting together some formula in a spreedsheet before went for my first btl mortgage, I've only bought cash before. This channel is in general not bad but has an optimisitc tone to it since it is ultimately a consulting business. I highly advise you do your own maths instead of taking numbers from other people, and be more pessimistic and apply a 0.8ish variable to your assumed rent (after taking account management fees from the agency) if your target property is going to achieve a more modest rent, or a 0.9ish variable if your assumed rent is higher. the last thing you wanna do is to dive in head first thinking that you've found some hidden gold mine, because it might be the case for the boomers, it's not anymore for us younger generations, the hidden costs of being a landlord these days could shock you. be especially careful with your calculations if you are investing most of your money and have no cushioning left.
@@Naughty_Squad . You are not asking business questions, you are asking personal questions. Which is wrong. Am sure if you ask him a sensible question, I can assure you he will help u , and answer your questions.
That's none of your business. How does his personal portfolio affect you ? Do you ask your bank manager how much does he earns if he is telling you about a product or account?
Thank you for the informative video! You mentioned banks do stress test of 6% of LTV. With the current high interest rate situation, should we expect a higher percentage now? If there a formula for the stress test percentage? (exp: x+base rate?)
Might be worth knowing that in my experience, if you use a variable rate or a fix of less than 5 years, the lender may do a stricter stress test at a higher rate which may reduce how much you can borrow.
Love the colour scheme 😛
If you already have equity in a property and are wanting to change from a residential to a buy-to-let then...
A. Do you need a deposit?
B. If so is the deposit 25% of the houses value or remaing mortgage cost?
Great video.
Very informative.
Do you do deal packaging courses?
Isn’t you paying the interest monthly
Why you don’t calculated in the cost
Can you still make a profit if you rent out a property
Interest only humm 🤔
Looking to buy a property where the mortgage is likely to be higher than the rental income. Or at least on par, due to current interest rates. Will this be an absolute no for mortgage providers? Does you personal income play a part, if myself and my partner have high incomes that would more than comfortably cover the mortgage should there be no tenant for any amount of time and my equity in the property is 35%.
Why would you invest in something that reduces your money?
The link didn't work for the free mortgage calculator?
It does. Try again. Perhaps use a computer. I could open and download it on android phone
How do you make your room lighting purple background? It's so pretty and calming =) Thank you for your posts.. LOVE your videos! Very useful!
Sorry to tell you this. It’s not the banks money the banks are using, it’s the people’s money in banks the banks are using .
I notice you don't say how many properties you have. Why should trust your advice?
Why does he need to tell you, don’t you thinks thats a rather personal question.
Listen to their podcast and you’ll know he has enough.
I been a listener to their podcasts for 10 years, and trust me he’s done very well so you should listen and buy this guys books too 👊🏾
you don't need to own many to know the process, I actually knew more than what's in this video just by reading a few articals and putting together some formula in a spreedsheet before went for my first btl mortgage, I've only bought cash before. This channel is in general not bad but has an optimisitc tone to it since it is ultimately a consulting business.
I highly advise you do your own maths instead of taking numbers from other people, and be more pessimistic and apply a 0.8ish variable to your assumed rent (after taking account management fees from the agency) if your target property is going to achieve a more modest rent, or a 0.9ish variable if your assumed rent is higher. the last thing you wanna do is to dive in head first thinking that you've found some hidden gold mine, because it might be the case for the boomers, it's not anymore for us younger generations, the hidden costs of being a landlord these days could shock you. be especially careful with your calculations if you are investing most of your money and have no cushioning left.
@@Naughty_Squad . You are not asking business questions, you are asking personal questions. Which is wrong. Am sure if you ask him a sensible question, I can assure you he will help u , and answer your questions.
That's none of your business. How does his personal portfolio affect you ? Do you ask your bank manager how much does he earns if he is telling you about a product or account?
I hear deposit is 50% now
Where do you hear that?
This is what I am hearing now. A friend of mine submitted a mortgage application a month ago somewhere Jun Jul 2023