What a simple video easy to understand, all these fancy videos with 50k 100k views on them actually drive you more mad than explain anything. You guys defo deserve more recognition, I will Google search your company and defo give you a call. Look like top lads!
Hi Mohammed, Thank you for that fantastic feedback! The aim is to make these videos real for the everyday person. If you need us either call on 01225 690 120 or email info@crescentmortgages.co.uk Or of course look us up on Google!
This is explained in such an excellent way, answered a lot. I won't be buying for a few years, but if I do I'm looking for an apartment around £50-100K ... Ideally I wanna pay it off within 10 years, and not 25, but that depends on the costs and my income at the time
Glad to hear it was helpful! Always a great idea to pay off your mortgage as quick as you can, so opting for a short term, overpaying, or both is always a good plan (where possible of course). Kye
Hi Aaron, Assuming you mean how do we search for mortgages - We have access to various industry tools that allow us to compare thousands of mortgages in a matter of minutes. The skill is then picking the right lenders for various aspects of criteria, service, process etc. Hope that helps. Kye
As a first time buyer, I am key worker, income of £42k per year. Credit might not be great. A neighbour passed on and the family approached me if i would be interested. Therefore no agents. This property is valued at about 275k as it is, some cosmetic damages therefore abit of work will need to be made by myself. Looking to pay approximately 20 years, how much roughly of a deposit should I expect to put down? How much mortgage can i get?
Hello, There are a few more points that we would need to know specifically to understand how much you are able to borrow, which would determine how much deposit you then need. Very broadly speaking lenders use income multiples ranging from 4 to 5.5 times your income (5.5 times your income is very rare, but occasionally achievable), and then run a secondary disposable income check alongside this. If you want to know more specifically how much you can borrow, and then how much deposit you need, feel free to get in touch through our website (link in the description). Kye
@@MsAgileGuru Hello, We don't charge anything at all for our advice. We have received your enquiry this morning and one of the team will reach out today to discuss in more detail. Kye
Hi Dogan, If the survey pulls up issues then this is normally where people would renegotiate the price. You don't lose any money, unless you've paid for a survey, which is then non refundable (the bank survey is often free). Hope that helps, Kye
Thanks for the video! Really helpful! With all the worry in the news about interest rates rising, are you suggesting first time buyers take on a longer fixed term? I realize no one can predict the future.
Hi Matt - nice to hear that's been helpful for you! The news and reality often differ a little, with the rates lenders are offering currently coming down. The base rate is likely to rise further, but this may not mean the lenders rates follow suit (they went sky high after the mini budget and have been falling since December). Even so a fix for budgeting is often desired with First Time Buyers, however with the current market and the predictions that rates are close to a peak, many people are opting for short term fixes (and some people variable mortgages) - in reality it depends on your own circumstances and how important higher interest could impact you (which determines how much risk you can take on shorter rates). I hope that helps further, Kye
@@GoMakeIt Excellent - give us a shout just before you start looking and we can let you know how much you can borrow, what rates look like and how much you want to set aside (alongside process etc). Good luck and speak soon.
Hi Dan & Kye, i have subscribed and liked your video! I must say that your video is so fantastic and easy to understand! I am a mortgage virgin and have no idea what to do as my situation is very complicated. Maybe not to you two. I really need your help and will try and ring you asap. I really need help and you two are so genuine and i feel i can trust you. Hope to speak to you soon. Dabs from Derby Uk.
Hi Dabs, We're thrilled you found the video helpful! Do feel free to call (01225 690 120) or email if easier (info@crescentmortgages.co.uk) and we'll see what we can do. Kye
Please help! Should people get into mortgage this year, is it wise with such a high interest rate?? I'm extremley anxious and would appreciate your advise. I will be a first buyer.
Hi Daroun, I understand your anxiety - many people are anxious in this situation (And historically often are when buying a first home). This is normally fuelled by uncertainty so understanding you own situation will help with this. It's important to remember that a mortgage is generally a 30-40 year commitment, and therefore you will always have periods of time where interest rates are challenging. If you can afford the rates of today then it is something you can consider, but the first step is to talk to someone specifically, cover off information such as how much you want to buy for, deposit available and other specific circumstances so that you can see exactly what your situation would cost. Ultimately it comes down to your personal circumstances to decide if it's worth it or not. We're happy to have that chat with you, if you want to reach out to us on either info@crescentmortgages.co.uk or 01225 690 120. Kye
I'm new to these things. I got a doubt. What if the person didn't buy the property after getting the loan amount ? How can the bank secure the property( In case if the person didn't buy the property ) if the person fails to pay the amount ?
Hi Jayanth, The loan amount is released simultaneously with the property ownership, and a solicitor has to confirm the charge over the property before funds are released, so there isn't a scenario where the bank wouldn't have the security they need. Kye
Hi Tony, In all honesty it varies wildly and on a multitude of factors, so not as simple by stating you need x amount. However, to try to give you a rough guide for a £300k property you would need: £30k deposit (could possibly do £15k with some lenders at higher rates/tighter criteria) For a £270k mortgage you would want around £60k income (again could possibly do with lower, but depends on on other factors) Ideally you would have 3 months payslips if employed, or 2 years accounts if self employed (again, could do with less payslips, or 1 years accounts, but limitations will apply). Often in this case it's easier to run through the specifics and we can then give you more accurate information. If you want to reach out for specifics feel free to either email us at info@crescentmortgages.co.uk or call on 01225 690 120. Kye
Hi, Generally speaking you would want 2 years tax calculations or accounts. It could be possible with one years, but very limiting. We've done a video for self employed sole traders a while back that would likely be applicable, but if you want anything specific feel free to get in touch directly. Kye
I had two mortgages in principle but was refused the mortgage on both occasions for shared ownership, I had a deposit, what did I do wrong? I never received answers from the brokers
Unfortunately whilst a Mortgage in Principle is very helpful, it isn't iron clad and the Brokers own knowledge/skill is also vital. It could be for many reasons, which the brokers should be able to explain to you, but for some reason haven't. Just because you've been told no from a couple of brokers it doesn't necessarily mean you can't get a mortgage - you just may need to try another broker. Kye
@@crescentmortgages thanks, my credit score was massively affected by two declined applicants and two hard searches so I’m unable to even if I wanted but I’m scared to try again as I’m having to wait about 18 months to build it again, it’s quite stressful especially when you don’t know what the issue is.
@Lotus3787 a credit score shouldn't be too damaged by 2 hard searches (and they also should've been soft searches if the applications were declined early). With any future ventures into buying you should be able to look at soft searches only, so you can look into moving forward with no detriment to your circumstances.
There are many limitations if you are looking to make your first purchase a buy to let property, and only specific people in specific examples can achieve this. Without going through all of your details it is hard to let you know if its likely for you - but we can take a look if you call or email us. Auctions are good ways to find a lower value property but often are cash buyers. Mortgages generally take too long with the swift turnaround needed at auctions, alongside the properties themselves often not being suitable in the lenders eyes. It is possible, but similar to the first point, it is generally difficult.
Are there any limitations for people to get mortgage loans who has visa status? For example I earns £75k but I’m on post study work visa. Am I eligible? I’m a first time buyer. Thanks!
Hi Roshmin, There are limitations for those without permanent rights to reside, however this doesn't mean a mortgage isn't achievable, and in some cases market leading rates. Deposit and length of time in the UK, plus time left on the VISA can often have a big say in what's possible. Each person's circumstances differ with VISA so feel free to get in touch and we can go through yours specifically. Best contact number is 01225 690 120 or email info@crescentmortgages.co.uk Kye
Great video, guys. Clear and informative. I watched it a few times and took away something different each time. Keep it up! In terms of finding a mortgage broker, what would you say are some of the attributes of a ‘good’ mortgage broker? What are some criteria you would go by to find the right one? Hope that makes sense! Thanks, Katie
Thanks Katie! There are a lot of attributes that make a good Mortgage Broker, but first and foremost they should be honest & patient, with a good understanding of the mortgage market and always have their customer's best interests at heart. We're an active UK Mortgage Broker so if you'd like to speak to us, for free, drop us a message at info@crescentmortgages.co.uk and we'd be happy to help you.
What a simple video easy to understand, all these fancy videos with 50k 100k views on them actually drive you more mad than explain anything. You guys defo deserve more recognition, I will Google search your company and defo give you a call. Look like top lads!
Hi Mohammed,
Thank you for that fantastic feedback! The aim is to make these videos real for the everyday person.
If you need us either call on 01225 690 120 or email info@crescentmortgages.co.uk
Or of course look us up on Google!
Good information mate.. been paying rent for 5 years for someone's mortgage and now have to get a property for myself with even lower rent in London
Love this! Very well detailed and exactly what I was looking for as a beginner! Would recommend this to anyone.
Thank you for the feedback - wonderful to hear! Feel free to get in touch should you need anything more specific to you.
Kye
Love your content Guys. Simple and informative.
Thanks Amnan - exactly what we aim for!
If you ever need anything feel free to get in touch.
Kye
Useful and enjoyable to someone as novice as me - so thanks!
Glad we could help Omar! Get in touch if you need or want to know more.
Kye
This is explained in such an excellent way, answered a lot. I won't be buying for a few years, but if I do I'm looking for an apartment around £50-100K ... Ideally I wanna pay it off within 10 years, and not 25, but that depends on the costs and my income at the time
Glad to hear it was helpful!
Always a great idea to pay off your mortgage as quick as you can, so opting for a short term, overpaying, or both is always a good plan (where possible of course).
Kye
Thank you it's helpful to understand as a beginner to these matters
We're thrilled you found it helpful - if you need to know anything more specific don't hesitate to get in touch!
Kye
How does a mortgage broker get a mortgage?
Hi Aaron,
Assuming you mean how do we search for mortgages - We have access to various industry tools that allow us to compare thousands of mortgages in a matter of minutes. The skill is then picking the right lenders for various aspects of criteria, service, process etc.
Hope that helps.
Kye
Thanks 👍
Glad you found it helpful!
As a first time buyer, I am key worker, income of £42k per year. Credit might not be great.
A neighbour passed on and the family approached me if i would be interested. Therefore no agents. This property is valued at about 275k as it is, some cosmetic damages therefore abit of work will need to be made by myself. Looking to pay approximately 20 years, how much roughly of a deposit should I expect to put down? How much mortgage can i get?
Hello,
There are a few more points that we would need to know specifically to understand how much you are able to borrow, which would determine how much deposit you then need. Very broadly speaking lenders use income multiples ranging from 4 to 5.5 times your income (5.5 times your income is very rare, but occasionally achievable), and then run a secondary disposable income check alongside this.
If you want to know more specifically how much you can borrow, and then how much deposit you need, feel free to get in touch through our website (link in the description).
Kye
@@crescentmortgages Thanks for responding- may i please ask how much will you charge to do that search?
@@MsAgileGuru Hello,
We don't charge anything at all for our advice. We have received your enquiry this morning and one of the team will reach out today to discuss in more detail.
Kye
Nice one 👌🏾
Could you kindly explain the shared ownership and how to borrow.
Hi Samantha, we'll reach out to you directly to discuss this option and how it works.
Thanks so much.
Brilliant video, thankyou.
Thanks Daniel!
Hello, really help full video! I was wondering what happens if the survey reveals some issues. Do you lose any money giving up the property ?
Hi Dogan,
If the survey pulls up issues then this is normally where people would renegotiate the price. You don't lose any money, unless you've paid for a survey, which is then non refundable (the bank survey is often free).
Hope that helps,
Kye
Thanks for the video! Really helpful!
With all the worry in the news about interest rates rising, are you suggesting first time buyers take on a longer fixed term? I realize no one can predict the future.
Hi Matt - nice to hear that's been helpful for you!
The news and reality often differ a little, with the rates lenders are offering currently coming down. The base rate is likely to rise further, but this may not mean the lenders rates follow suit (they went sky high after the mini budget and have been falling since December).
Even so a fix for budgeting is often desired with First Time Buyers, however with the current market and the predictions that rates are close to a peak, many people are opting for short term fixes (and some people variable mortgages) - in reality it depends on your own circumstances and how important higher interest could impact you (which determines how much risk you can take on shorter rates).
I hope that helps further,
Kye
@@crescentmortgages it really does help! Thanks for the explanation. Hoping to buy at some point this year. I’ll be in touch.
@@GoMakeIt Excellent - give us a shout just before you start looking and we can let you know how much you can borrow, what rates look like and how much you want to set aside (alongside process etc).
Good luck and speak soon.
Hi Dan & Kye, i have subscribed and liked your video! I must say that your video is so fantastic and easy to understand! I am a mortgage virgin and have no idea what to do as my situation is very complicated. Maybe not to you two. I really need your help and will try and ring you asap. I really need help and you two are so genuine and i feel i can trust you. Hope to speak to you soon. Dabs from Derby Uk.
Hi Dabs,
We're thrilled you found the video helpful! Do feel free to call (01225 690 120) or email if easier (info@crescentmortgages.co.uk) and we'll see what we can do.
Kye
Please help! Should people get into mortgage this year, is it wise with such a high interest rate?? I'm extremley anxious and would appreciate your advise. I will be a first buyer.
Hi Daroun,
I understand your anxiety - many people are anxious in this situation (And historically often are when buying a first home). This is normally fuelled by uncertainty so understanding you own situation will help with this.
It's important to remember that a mortgage is generally a 30-40 year commitment, and therefore you will always have periods of time where interest rates are challenging. If you can afford the rates of today then it is something you can consider, but the first step is to talk to someone specifically, cover off information such as how much you want to buy for, deposit available and other specific circumstances so that you can see exactly what your situation would cost. Ultimately it comes down to your personal circumstances to decide if it's worth it or not.
We're happy to have that chat with you, if you want to reach out to us on either info@crescentmortgages.co.uk or 01225 690 120.
Kye
I'm new to these things. I got a doubt. What if the person didn't buy the property after getting the loan amount ? How can the bank secure the property( In case if the person didn't buy the property ) if the person fails to pay the amount ?
Hi Jayanth,
The loan amount is released simultaneously with the property ownership, and a solicitor has to confirm the charge over the property before funds are released, so there isn't a scenario where the bank wouldn't have the security they need.
Kye
@@crescentmortgages Thanks
For a 300k property how much income do I need to show and also how many months/years of income will I need to show?
Hi Tony,
In all honesty it varies wildly and on a multitude of factors, so not as simple by stating you need x amount.
However, to try to give you a rough guide for a £300k property you would need:
£30k deposit (could possibly do £15k with some lenders at higher rates/tighter criteria)
For a £270k mortgage you would want around £60k income (again could possibly do with lower, but depends on on other factors)
Ideally you would have 3 months payslips if employed, or 2 years accounts if self employed (again, could do with less payslips, or 1 years accounts, but limitations will apply).
Often in this case it's easier to run through the specifics and we can then give you more accurate information. If you want to reach out for specifics feel free to either email us at info@crescentmortgages.co.uk or call on 01225 690 120.
Kye
Thanks. Will be in touch
Do you help with right to buy ?
Yes - we can help with Right to Buy mortgages. Whilst there are some limitations, many lenders are OK with this type of application.
Why the tele?
Hi, I am a self employ (Uber Driver) How easy for me to get a mortgage ?
Hi,
Generally speaking you would want 2 years tax calculations or accounts. It could be possible with one years, but very limiting.
We've done a video for self employed sole traders a while back that would likely be applicable, but if you want anything specific feel free to get in touch directly.
Kye
I had two mortgages in principle but was refused the mortgage on both occasions for shared ownership, I had a deposit, what did I do wrong? I never received answers from the brokers
Unfortunately whilst a Mortgage in Principle is very helpful, it isn't iron clad and the Brokers own knowledge/skill is also vital. It could be for many reasons, which the brokers should be able to explain to you, but for some reason haven't.
Just because you've been told no from a couple of brokers it doesn't necessarily mean you can't get a mortgage - you just may need to try another broker.
Kye
@@crescentmortgages thanks, my credit score was massively affected by two declined applicants and two hard searches so I’m unable to even if I wanted but I’m scared to try again as I’m having to wait about 18 months to build it again, it’s quite stressful especially when you don’t know what the issue is.
@Lotus3787 a credit score shouldn't be too damaged by 2 hard searches (and they also should've been soft searches if the applications were declined early).
With any future ventures into buying you should be able to look at soft searches only, so you can look into moving forward with no detriment to your circumstances.
I am looking to buy to let the income is 48k a year never bought i house before but I want to buy a house via auctions what do you think ?
There are many limitations if you are looking to make your first purchase a buy to let property, and only specific people in specific examples can achieve this. Without going through all of your details it is hard to let you know if its likely for you - but we can take a look if you call or email us.
Auctions are good ways to find a lower value property but often are cash buyers. Mortgages generally take too long with the swift turnaround needed at auctions, alongside the properties themselves often not being suitable in the lenders eyes. It is possible, but similar to the first point, it is generally difficult.
Are there any limitations for people to get mortgage loans who has visa status? For example I earns £75k but I’m on post study work visa. Am I eligible? I’m a first time buyer. Thanks!
Hi Roshmin,
There are limitations for those without permanent rights to reside, however this doesn't mean a mortgage isn't achievable, and in some cases market leading rates. Deposit and length of time in the UK, plus time left on the VISA can often have a big say in what's possible.
Each person's circumstances differ with VISA so feel free to get in touch and we can go through yours specifically.
Best contact number is 01225 690 120 or email info@crescentmortgages.co.uk
Kye
Great video, guys. Clear and informative. I watched it a few times and took away something different each time. Keep it up!
In terms of finding a mortgage broker, what would you say are some of the attributes of a ‘good’ mortgage broker? What are some criteria you would go by to find the right one? Hope that makes sense!
Thanks,
Katie
Thanks Katie! There are a lot of attributes that make a good Mortgage Broker, but first and foremost they should be honest & patient, with a good understanding of the mortgage market and always have their customer's best interests at heart. We're an active UK Mortgage Broker so if you'd like to speak to us, for free, drop us a message at info@crescentmortgages.co.uk and we'd be happy to help you.
Ｐ𝐫Ｏ𝕞Ｏ𝓢ｍ