Wow Jamie....I have been watching your videos for a couple of days now. Thank you so much for all the really helpful and informative information. Feel much more confident venturing into my first Buy to Let property. Thank you.
Getting a property inspection first in order to address any deficiencies and factoring in the labor and material costs of such into your project plan with buffer. 💪 This one step can save you a ton in headaches or bites on the backside 😉
A good video. Thank you. NoteVoid periods: Service charges covering for gas certificate, repairs, electric, plumbing appliances etc. And garden care, windows cleaning
Thanks Jamie, I am really enjoying your videos. A real inspiration. I am very much at the education stage so keep the great content coming. You may have done this already, however, do you have or plan to do any content on Let-to-buy for those with an existing domestic property looking to make the leap into becoming a landlord?
Hi Jamie I love your videos.... love your sense of humour. I also just love the way you explain everything it's so clear. I have 3 BTL's and have retired. I find some lenders don't want to lend because I have retired? Do you think interest will go up more in the next few years? I'm thinking of fixing for 5 yrs but rates are high at the mo..... What do you think ? I'm getting 3.19% rate. Thanks..... keep up the good work. Charan
Good summary. When you are buying a property on a BTL mortgage with clear intention for BRR strategy would that be against BTL T&C's to simply refinance after few months as it is a long term product and you would be in breach of contract no matter how much of ERF you paid them? Could you get even black listed for doing this regularly? My understanding is that for BRR you need cash or bridge to purchase as a short term finance or have I been speaking to wrong brokers?
Hey Michael, thanks for reaching out! I'm excited to educate you on what we can do for you. If you visit www.aspirepropertygroup.co.uk and fill in your details :)
Hi Jamie Found your channel recently and absolutely love it mate, you definitely deserve more subscribers If you get the time, would it be possible to make a video on the most passive way to invest in property. For example, buying the property outright then putting on rent and allowing a letting agent to take care of everything (finding tenants, maintenance costs, etc). Like just a quick cost breakdown and typical returns using this method. Cheers
Hi Jamie, Great channel , we only have had one property we lived in which we changed to btl using the equity to deposit a new house to live in. Our broker tried using a Mortgage company that WOULDNT let us remortgage with them when low rate runs out unless we used a Broker. We now use Skipton and they give us a great new rate every 3 years where we don`t have to re-apply and have house revalued and credit checks etc. We would love to get 1 more property on BTL but don`t feel we have enough finances to get a third mortgage. :( Thanks again for your informative videos.
Solid video. Didn't include the day to day management costs - letting agent fees + holds for maintenance + mortgage costs. Also worth noting long term exit costs, capital gains tax and paying back interest only mortgage. 👍
Thank you Jamie solid content. Do you have a spreadsheet or point in the right direction to analysing a flip deal taking into account all costs at entry and exit please?
Great vid as always, if you do decide to take an advance and take some equity out say during a 5 year deal in year 3 let’s say, if I get charged £3k by remortgaging early can that be put as a cost against your tax?
So if you were to put a rough estimate on it, if you got a 100k mortgage with a 25-75% LTV, how much would you expect to spend after all the costs and the 25k deposit?
The biggest single cost you have ignored is when the government raise the EPC minimum E (legal min for let properties) to C or D for rented properties, they will do this as the Govt have stated that UK properties need to be 80% more efficient to meet the Paris climate accord that UK is signed up to. This will be a massive cost for landlords, especially for those with older properties, which make up over a fifth of UK dwelling stock. Think £20K upgrade or you cant legally let it out.
So I just completed, might be a school boy error. But I had to pay the service charge and ground rent up front. Plus a late notice charge for not completing on time. Some issues I found with purchasing an off plan buy to let.
Costs I can think of that weren't covered appear to be related to actually getting the tenant which is pretty important. Maybe you're using a letting agent (fee), maybe you're using a management agent (fee), maybe you're doing it yourself (fees involved).
@@JamieYork thank you for putting the content out there. I've been binging on your videos today as I've just had an offer accepted on my first BTL investment so was just checking my knowledge is sound before I pass the point of no return. So far so good. I guess my only downside is I've not gone for a BRR, they're just not about in the area I want, they get snapped up so fast.
Thanks so much for the value packed videos. Hey Jamie, do you have a complete course for a beginner to start investing in Buy To Let properties in the UK? I know you have the hands free service. But I’d like to learn and do it myself Let me know!
I was wondering if you still thought that buy to let are good investments considering the new tax rules coming in where you cannot offset the mortgage interest from the rent so your rental income is already hit by a 40% income tax before you start?
Hi Jamie, I've just recently invested in a holiday cottage which I intend to fully renovate in the winter. I also regret getting a lower LTV at about 65% because that extra money down could have gone towards my next property. Would it be possible to get a new renovation mortgage with a higher LTV when I come to refinance? Thanks in advance.
More than likely mate. Even better, you'll probably get a strong commercial valuation after operating for a year and showing that proof of commercial use!
Perfect! I was just trying get my head around the additional costs that would reduce take home profit. Love watching these videos, so much useful information and they make me just want to get on the property ladder ASAP
Not sure the cost yet but need to 1st register my property on the land registry thought I would remortgage my inherited property to raise deposit for a btl 2months later im still waiting what a mess
Could you do a video of you real-time securing a deal with a real estate agent aswell as analysing the deal ? Would be great to see you talk to an agent etc 👏🏽👏🏽
Nah, you buy a property with a morgage. Then you do some improvements (Refurbishment). Then you refinance for a higher value . Difference between Refinace -(morgage + Refurbishment )= is your profit
Good point. Although, from what I gather, you generally want to avoid leasehold properties as you are limited with what refurbishments you can do to the property.
Very informative but discouraging video, with a negative tone of voice! However, the fact that you are still in this business shows, there is huge profit despite all the negatives!
I think of it as realistic rather than negative. I just want people to be aware of every thing. Not just selling a dram like most. … to be open.. I LOVE buy to let property
Wow Jamie....I have been watching your videos for a couple of days now. Thank you so much for all the really helpful and informative information. Feel much more confident venturing into my first Buy to Let property. Thank you.
No worries at all. Really glad you’re getting some value 😊
Getting a property inspection first in order to address any deficiencies and factoring in the labor and material costs of such into your project plan with buffer. 💪 This one step can save you a ton in headaches or bites on the backside 😉
We agree!
Thank you for all your detailed videos Jamie , have learnt so so much from you!!🥹can’t thank you enough!
Thanks for watching! Glad the content has helped you!
A good video. Thank you.
NoteVoid periods: Service charges covering for gas certificate, repairs, electric, plumbing appliances etc. And garden care, windows cleaning
Hey Jamie, I am planning on using my maintenance loan to buy my first Buy to let property. I am loving your videos and am learning soooo much!!!
Sounds great! You got this Rodrigo!
Best property content by a mile this channel. Awesome Jamie. 👌
Glad you enjoy it!
Thanks Jamie, I am really enjoying your videos. A real inspiration. I am very much at the education stage so keep the great content coming. You may have done this already, however, do you have or plan to do any content on Let-to-buy for those with an existing domestic property looking to make the leap into becoming a landlord?
I've got one in the works!
Fantastic video Jamie! Loving the channel!
Thanks Matt, I really appreciate it!
you've been really consistent. great work
Appreciate that
Amazing videos, super helpful
Thank you for all of these fabulous videos.
You’re very welcome Nikki 😀
your knowledge is mindblowing on this topic :)
Glad you think so!
Hi Jamie I love your videos.... love your sense of humour.
I also just love the way you explain everything it's so clear.
I have 3 BTL's and have retired.
I find some lenders don't want to lend because I have retired?
Do you think interest will go up more in the next few years?
I'm thinking of fixing for 5 yrs but rates are high at the mo.....
What do you think ? I'm getting 3.19% rate.
Thanks..... keep up the good work.
Charan
Good summary. When you are buying a property on a BTL mortgage with clear intention for BRR strategy would that be against BTL T&C's to simply refinance after few months as it is a long term product and you would be in breach of contract no matter how much of ERF you paid them? Could you get even black listed for doing this regularly? My understanding is that for BRR you need cash or bridge to purchase as a short term finance or have I been speaking to wrong brokers?
Top video mate - costs usually always come in more than first estimated!
They do indeed my man. Most people miss a lot of these out!
Thanks Jamie,
For flats you need to pay for a legal pack from a management company. It as around £300.
You do indeed. Leaseholds are most expensive all round (apart from purchase price usually) 😊
All your vids are very good, I’ve seen most of the other teachers. I’m an old small time landlord & burnt out flipper , would like to explore APG
Hey Michael, thanks for reaching out! I'm excited to educate you on what we can do for you. If you visit www.aspirepropertygroup.co.uk and fill in your details :)
Thank you so much for your help 👍
No problem 👍
Hi Jamie
Found your channel recently and absolutely love it mate, you definitely deserve more subscribers
If you get the time, would it be possible to make a video on the most passive way to invest in property. For example, buying the property outright then putting on rent and allowing a letting agent to take care of everything (finding tenants, maintenance costs, etc). Like just a quick cost breakdown and typical returns using this method.
Cheers
Thanks, will do!
He’s made it! Go check Jamie’s feed
Excellent content. Thanks
Glad you liked it! Thanks for watching!
You can make a video about taking repayment mortgage or interest only, and interested to know what do you do with your investing properties.
Here you are! ruclips.net/video/STy6mBnsBDc/видео.html
What about ICO registration for processing data (of your tenants) … also deposit protection …cost of vetting tenants …electric and gas …
Jamie . You are the man !
Cheers mate! Thanks for watching!
Hi Jamie, Great channel , we only have had one property we lived in which we changed to btl using the equity to deposit a new house to live in. Our broker tried using a Mortgage company that WOULDNT let us remortgage with them when low rate runs out unless we used a Broker. We now use Skipton and they give us a great new rate every 3 years where we don`t have to re-apply and have house revalued and credit checks etc. We would love to get 1 more property on BTL but don`t feel we have enough finances to get a third mortgage. :( Thanks again for your informative videos.
Keep working hard Brian, you'll get there! Thanks for enjoying the videos!
Solid video. Didn't include the day to day management costs - letting agent fees + holds for maintenance + mortgage costs. Also worth noting long term exit costs, capital gains tax and paying back interest only mortgage. 👍
Great suggestion!
Dutski, surreal seeing you commenting in this video, hope you are well? (It's Pricey btw, Bucky's mate!!)
Jamie, another great video, loving these! :)
Thank you Jamie solid content.
Do you have a spreadsheet or point in the right direction to analysing a flip deal taking into account all costs at entry and exit please?
There is be one coming in the future
Cheers Jamie, looking forward to it appreciate your reply ;)
I’m looking for my first BRRR. Finding it difficult as people are paying way over the odds for run down houses.
Yeah. Not the best time to buy from estate agent. Direct to vendor might be the best option these days..
it`s a sellers market. very hard to get that initial desired discount
100% I'm getting mine by not purchasing on Market! Get off rightmove right now!
@@JamieYork what’s the alternative, Zoopla or buying cash at auction
@@Witnessmoo zoopla is still the market
Another quality video. Do you have any recommendations for a broker and solicitor?
Glad you liked it! Currently creating a list for this right now :)
Great vid as always, if you do decide to take an advance and take some equity out say during a 5 year deal in year 3 let’s say, if I get charged £3k by remortgaging early can that be put as a cost against your tax?
Always best to check with an accountant first :)
So if you were to put a rough estimate on it, if you got a 100k mortgage with a 25-75% LTV, how much would you expect to spend after all the costs and the 25k deposit?
The biggest single cost you have ignored is when the government raise the EPC minimum E (legal min for let properties) to C or D for rented properties, they will do this as the Govt have stated that UK properties need to be 80% more efficient to meet the Paris climate accord that UK is signed up to. This will be a massive cost for landlords, especially for those with older properties, which make up over a fifth of UK dwelling stock. Think £20K upgrade or you cant legally let it out.
There a cap on the spending for the EPC, they won't make you spend £20k
That's if it happens of course, which isn't a guarantee!
Just do the work anyway. Don't wait to be told what to do.
Thought this was me for a second.
So I just completed, might be a school boy error. But I had to pay the service charge and ground rent up front. Plus a late notice charge for not completing on time. Some issues I found with purchasing an off plan buy to let.
I presume you bought a flat then?
Costs I can think of that weren't covered appear to be related to actually getting the tenant which is pretty important. Maybe you're using a letting agent (fee), maybe you're using a management agent (fee), maybe you're doing it yourself (fees involved).
Great input there! Thanks for the value you’re adding to the channel!
@@JamieYork thank you for putting the content out there. I've been binging on your videos today as I've just had an offer accepted on my first BTL investment so was just checking my knowledge is sound before I pass the point of no return. So far so good. I guess my only downside is I've not gone for a BRR, they're just not about in the area I want, they get snapped up so fast.
They do indeed! Keep on pushing bud!
Just subscribed your channel. Really great video. Really impressed. Looking forward for future video. 👍👍👍
Awesome, thank you!
Thanks so much for the value packed videos. Hey Jamie, do you have a complete course for a beginner to start investing in Buy To Let properties in the UK? I know you have the hands free service. But I’d like to learn and do it myself Let me know!
I have one coming later this year! :)
@@JamieYork did you do this?
How is your borrowing of money (OPM) presented to your mortgage provider? So, is it not seen as risk in terms of underwriting ?
If I was using OPM It would be for the whole amount!
Hi jamie, any chance you can do a detailed video on bridging finance?
Oh, go on then! 😉
@@JamieYork top one fella looking forward to it 👏🏻👍🏻
I was wondering if you still thought that buy to let are good investments considering the new tax rules coming in where you cannot offset the mortgage interest from the rent so your rental income is already hit by a 40% income tax before you start?
If you're still making profit then it is still a good investment
How are you finding the market right now? Seems to be very inflated at the moment but I feel prices will only rise further down the line
Got a video about this coming up in a few weeks!
Hi Jamie,
I've just recently invested in a holiday cottage which I intend to fully renovate in the winter. I also regret getting a lower LTV at about 65% because that extra money down could have gone towards my next property. Would it be possible to get a new renovation mortgage with a higher LTV when I come to refinance? Thanks in advance.
More than likely mate. Even better, you'll probably get a strong commercial valuation after operating for a year and showing that proof of commercial use!
Perfect! I was just trying get my head around the additional costs that would reduce take home profit. Love watching these videos, so much useful information and they make me just want to get on the property ladder ASAP
Glad it was helpful!
How about gas safety and electrical installation certification costs?
Yes!! Was wondering when someone would comment this!
Great content Jamie
thanks!
Not sure the cost yet but need to 1st register my property on the land registry thought I would remortgage my inherited property to raise deposit for a btl 2months later im still waiting what a mess
think it's like £200
Hopefully you get sort soon!
Exactly what I commented on a previous video, thanks Jamie ! Perfect 👌🏽
No problem 👍
Good
Thanks
how much approx do you allocate for unforeseen events?
Great question, I usually allows 10% for long term maintenance!
What’s your average early exit fee?
Usually around £1500, but you can get them with no fees
Education and money lending
Thanks for reaching out! Go to bit.ly/aspireeducation and fill in your details :)
Section 24 and accounting for taxes on rental income?
I've done a separate video on that! hard to take account of taxes of course as each individual has a completely different situation
Could you do a video of you real-time securing a deal with a real estate agent aswell as analysing the deal ? Would be great to see you talk to an agent etc 👏🏽👏🏽
Great suggestion!
Hi Jamie any chance on having a little 1 on 1 chat looking to start my portfolio?
Hit me on instagram @jamieyorkaspire
Hi just to say what is re-financing
Paying off the current mortgage with a new mortgage OR simply getting a mortgage on a property you already own
So are you registered with the FCA to give specific advice on BTL???
Property is unregulated mate, you don’t need to be registered or regulated in any way by the FCA
Hi Jamie, Now I am retiring. I am 49 now. How can I get the mortgage? Can you give me some insights?
Speak to a mortgage broker as sometimes your income isn't important
@@JamieYork Can you introduce me a mortgage broker? It is really difficult to pick up one.
Education
Thanks for reaching out! Go to bit.ly/aspireeducation and fill in your details :)
Regulatory compliance costs ?
You have landlord insurance but no real compliance outside of typical gas, electric and EPC for btl
6 months of paying mortgage payments as well :/
Good news is you can always change it... after 6 months!
Thanks for this! I think you read my mind wanting this 😂 I have 10k saved, a little way to go but I'll do it
Keep on going! You were quick off the mark with that first comment eh! 😉
APG info please
Thanks!, go over to this link www.aspirepropertygroup.co.uk and make sure to fill in the full details (including on the second page)
What is the cost of courses ?
They're different for each course 😊
man like jamie york my brudda
;)
Jamie , where did you get that sexy white board ?
She is a stunner! It's a Samsung Flip!
Hi Jamie what do you think about property in the future with this “u will own nothing and be happy”
If I'm getting paid every month then I'm happy! I prefer Leverage!
Tried to follow you on Instagram but there were too many fake accounts si wasn’t sure which was the real one.
Yep. Bloody annoying isn’t it!
jamieyorkofficial is the right one
@@JamieYork thank you. Will follow now. My Instagram name is different to this. It’s my work page 🐶
0. fuck all
ahahahahahha
**hits like**
A new boiler, happens more often than I’d like…………
Yes I would like to talk please
Then hit me on Instagram @JamieYorkAspire :)
It somewhat annoys me how a channel like this at 25k subs provides 1000x more value than some of the stupid meme channels at 1million + subs
I'd rather have 25,000 people on a similar journey then 1,000,000 part timers :) But thank you for the comment!
@@JamieYork True!
pro trick: watch series on KaldroStream. Been using it for watching lots of of movies recently.
@Apollo Eli definitely, I have been using kaldrostream for since december myself =)
@Apollo Eli yea, been using kaldroStream for months myself :)
Is they any videos on leaving my house and renting it out. What are the rules on this
I would love to know this as well... Is there any difficulties in transfering it to a limited company as well...
Great suggestion!
Bhu
You mention refinancing a lot in your videos. Just so I understand clearly, is this because you’re buying them cash to begin with?
Nah, you buy a property with a morgage. Then you do some improvements (Refurbishment). Then you refinance for a higher value . Difference between Refinace -(morgage + Refurbishment )= is your profit
What Sufian said!
You forgot the lease cost per month for a flat buy to rent
Good point. Although, from what I gather, you generally want to avoid leasehold properties as you are limited with what refurbishments you can do to the property.
Good spot. True for leaseholds!
I own a few but tend to stick with freehold wherever possible
Yes mortgage fees are a bomber at the moment
:(
Very informative but discouraging video, with a negative tone of voice! However, the fact that you are still in this business shows, there is huge profit despite all the negatives!
I think of it as realistic rather than negative. I just want people to be aware of every thing. Not just selling a dram like most. … to be open.. I LOVE buy to let property
@@JamieYork hence 'informative!' I appreciate your hard work.
new sub. great content
Appreciate it!
As usual first class advice and information 🙂
Glad you think so!
0.fuck all 😂 howling
...mmmm what about the accountant? That's quite expensive 🫰
That’s the cost of having a business rather than a property, but defo a cost to be aware of 😊