I am tired of watching videos that do not inform you at all.Also they do not show figures. Hi you kept it so simple yet gave so much information I love the way you are genuine and straight forward. Most of the videos I have watched put large amount of money as a deposit and the then find it takes them years to make their deposit back. You made a wise decision because you only put in 4,600 of your own money and used the banks. This is the way to purchase property and within 3 years you made back your deposit, renovated also made a profit and you only used a small amount of money to do this. You are genuine and the information you are giving is realistic to everyday people to get on the property ladder. Regarding student loans and that is important to know and how it would effect your application you are the first person that has given this information. This has made me aware of who I should watch I have watched so many videos on property and have not learnt anything.
lon alis aww that’s very sweet thank you very much for the compliment! I’m glad you found this video useful and I really hope I can keep putting out more content that is helpful and genuine! ☺️🥰
A friend shared this with me. One of the best videos I have seen on buying / home ownership. Thank you! Explained simply and clearly. It’s hard yes but not as hard as you think. Start with what you have and where you are then build from there. Praying & working towards owning my own home in the next year.
Aww I’m glad you liked the video! ☺️ it’s definitely more achievable than people make it out to be and hopefully the 5% deposits come back soon! All the best with working towards home ownership - you can do it!! 💪🏾
Don't forget to like, subscribe and check out my other videos! There are lots of other videos on my channel that will help you understand more about the property buying process. Thank you for all of the kind comments and support! ❤️
Hiya, we met yesterday at the baby shower! So, of course, I had to check out your channel. Your tips here have given me food for thought. I might even go for something smaller than I wanted to start off with (e.g one bed) and build up from there! ☺️
Your an inspiration. I need to wake up and realise that I can get on property ladder now. It's all about aptitude to risk as well. If you take calculated risks they can pay off. I am possibly too risk averse.
One of the best YT property saving/buying video advice to date from someone who actually who has done it. So inspiring and so refreshing. Love the bit about creative mathematics. The fact that you gave facts and figures and broke it down clearly is just wow. It has made me more optimistic about my decisions now. Have subbed as this content is great and we need to see more of stuff like this. Thanks for sharing!
You’ve actually made me feel really optimistic about getting a 1 bed flat that needs TLC. I was so convinced that I needed at least a 2 bed house with a garden that was all ready to move into. It’s so unrealistic thinking about it and it’s a good idea to spend a bit of money to make money in the long run when you move on. Thank you so much! ❤️
Aww I’m glad!! It’s definitely the best decision I made starting out with that flat. No matter how small a place is that you buy, it’s still yours and it’s still an achievement! ☺️❤️
Thank you! Hmm some auction flats come on at £80-100K or so but once people get bidding, it can get crazy! Some flats with short leases can also be around £100K, but really only cash buyers can go for those because they're unmortgageable.😫A 1 bed just outside london is achievable at around £120-150K!
@@DeleonRaye depends on your budget. A lot of places in kent are affordable and are 1hr30mins from london. I have a video on my channel (ruclips.net/video/pIp0PNhQtVI/видео.html) that talks about the most affordable places. The prices listed in the video are average prices, so there will be properties cheaper than that in those areas. Hope it's helpful!
@@DeleonRaye Leighton Buzzard, Bletchley and Milton Keynes all have about 40 min fast trains to London Euston. Northampton and Bedford are cheaper (you can get decent flats - no shared ownership for 100k and slightly above) but not as quick to get into London. Still well within 1 hour and 30 mins though by train.
Thank you for this video, very helpful, and I love that you showed your actually figures, I appreciate that. If I’m being honest with myself , i will most likely buy a flat , as I am a low earner ( nothing wrong with that)
I like your review, it’s a really great eye opener to start the process of buying a house. I’m in the saving stage at the moment and I’m glad I’ve watched your video to rethink how much I actually need to save. Well done to you tho, blessings upon blessings 👍🏽😊
Very helpful! I agree that these things take time and will be so worth it when you achieve it. You can buy alone if you make the right decision on the right property. The fact you made money from it is such a bonus! Well done!
Thank you for sharing your journey! I wanted to know, did you purchase your first property through an auction? I've noticed most properties right now that are less than 100k seem to be all auctions
Hi Laila, No problem! no it wasn't at auction, it was just a normal purchase and quite a few years ago now. Pre-pandemic, you could still find properties in the South East region that were around the £100K mark, but prices have risen since. Even at auction, those properties will probably sell for much more than £100K as that is just the guide price (sometimes you can find a good deal at auction though!)
Thank you so much for this video! I am really motivated to live in Canterbury, Kent, but the prices are out of my budget as a single income household - I'd need to save a £50k or £70k deposit in order to move there straight away. The way you redid your first home was amazing and such a great motivator and reminder that I don't need to aim for where I want to live first off, I can step onto the ladder gradually, sell a property for more than I bought it for, and move my way up! I am looking into areas like Chatham and Ramsgate etc. instead - closer to London, yet somehow cheaper. I am hoping to have a deposit along the lines of £33k, so if I were to get a much smaller mortgage like you did, then I could really have a much cheaper mortgage and invest in the property and have a fun life for a little while as a bit of a treat!
I also felt quite trapped by the idea of shared ownership being my only option, but the negatives really outweighed the positives for me - thank you for this video, as it has given me hope that I can just buy somewhere 100% as a single person and make it work for me!
@@chiccathepom3536 You can definitely do it alone and without shared ownership! I think sometimes we forget that it's called a property ladder for a reason! 🤗Canterbury does seem to be more expensive than other areas of Kent even though it's further out, but I guess it is a nice town though! I'm so glad this video was helpful to you! ☺️
@@simonareznik7313 Banks will lend roughly 4.5x your annual salary, but this depends on the amount of debt you had. Someone with no debt could technically have gotten this property earning £20,000 a year. I had debt and my salary at the time was just over £30K. If you're not sure how much you can borrow, have a look at my video called "how you can get started on your property journey". Hope this helps! :)
Love this! I have an £85k deposit at 23... I saved at my parents , but now I think.. you’ve literally used the smallest amount of money and made a huge profit all from your first property. Really good
Thank you for this video very well explained and inspires women like me who want to own a property to do it. Do you recommend anyone lawyer or brokers to do these transactions ?
I’m so glad this inspired you! 🤗 I usually go direct to the bank, I’ve only just started using my mum’s broker so too early to tell what she’s like! I wouldn’t recommend the lawyers I’ve used so far. The best thing is to look at a company’s reviews especially at a time like this because some aren’t coping with the stress of the c-vid situation!
Glad to hear it! Yes, you can definitely do something with less than 40k, The property might not be exactly what you want, but you can use it to get where you want to get 🤗
@@WhenLoveisProjected you recon a single person with a 50k salary is good enough to get in to the property ladder? According to what they say200 to 250k its what the bank would let me, but looking at properties in london, that is nothing. I was thinking on looking out side london.. but how far would that be ? What would you recommend 🤔?
Alvaro b well you earn more than me and you I have a 3 bed house in Kent that I bought by myself. Where I live is a 30min drive to SE London You could definitely get something on the edges of London with that budget. Even in London I would say if you’re okay with a flat that needs fixing up a little, I’ve seen quite a few properties around that budget. Have a look at my video on how I look for affordable properties, you are actually in a really strong position I would say.
Alvaro b also look at my video on how to get started in your property search. Once you plug your figures in you’ll know for sure how much a bank would be willing to lend. Hope that’s helpful!
This is inspiring 2nd time watching. Do you think this is still possible given the current climate and mortgage deposit expectations? Also wondering whether you can do an updated video in the near future given advice or tips based on current recession etc
Hmmm...5% deposits are rare at the moment apart from on new builds using Help to Buy. I think the concept is still the same though - it's about compromise and it's all about maths and loan to value. So, if you have £10,000 saved up, that can be a 5% deposit on a £200,000 property or it can be a 10% deposit on a £100,000 property etc. You would have to see what the banks are willing to lend and add your deposit to it to see what you could afford to buy. I can definitely do a video about the current climate though and how I it relates to property!
Aww maybe not, because the mortgage wouldn’t be as much 😔 Lenders use how many years you have until retirement to calculate how much money they’ll lend. It’s always worth using a mortgage calculator to see how much you could borrow ☺️
Such a great video, encouraging to get on to the property ladder with not much to start with - thank you! I'm curious how did you find the motivated seller and how did you decide on the area for your first flat?
Glad you’ve found it encouraging. ☺️ The property market has changed a lot in the last few years but I still think it’s largely true that people can work with a lot less than they think. I went according to my budget when looking for property and accessibility to London. The flat I’d found (and my next house as well) was previously on the market, but sale fell through and so it had to go back on the market. When a seller has been messed around, they tend to be more motivated. Hope that’s helpful!
I just found this video as myself and my husband are hoping to get in the property ladder. We currently have £10,000 saved up and NEVER thought this was enough to get on the property ladder. We always thought we needed at least £40 grand plus etc even for a flat! (We live in the South West of England). This is so inspiring and has given us enough confidence to seek some property advise and potentially get on the ladder soon 😁 . Do you mind me asking how much your car finance was? We do have a vehicle on finance and are hoping this wont effect our chances? Xx
Ah I'm glad you found it helpful! Yes, go for it!! You can definitely get on the property ladder for much less than 40K. (I put less than 40K in for my 3 bed house) Gosh I can't remember the numbers for the car. It was a bit ridiculous though, because my monthly payments were £360. I had bought an A3 and I must have had it for 2 years when I got the flat. They will look at the total amount left to pay to help them calculate. I would say you are in a much stronger position than I was though, you have a higher deposit and there are two of you. It's a good idea to use the bank's AIP calculators before sitting down with a financial advisor. It will give you a figure to work with after you plug in your values for wages/debt etc. They are so accurate if you plug accurate numbers in. Hope this helps, any more questions, feel free ☺️
@@WhenLoveisProjected Thank you so much for your reply. Wow! Such helpful advice, I really appreciate it. Woth everything happening at the moment we might pause our house search for now and continue to save and then look again once the economy is in a stronger position and mortgage rates aren't throw the roof ❤
@@TheRoxStarlet You're welcome! I would still encourage you to keep an eye out, you never know when a deal might pop up! Interest rates seem to be okay at the moment, just less mortgage products available and stricter lending requirements. It seems as though those with a larger deposit are in a better position at the mo! This article might be useful for you www.zoopla.co.uk/discover/property-news/coronavirus-mortgage-rates-fall-but-lenders-remain-cautious/ 🤗
I liked your video I’m thinking of flipping houses soon when I start earning more (doing my masters right now working part time). My only worry is being able to sell do you think it will be easy to sell and advice on thatv
Thank you ☺️. Hope the masters is going well! Hmm yeah I think selling is easy enough, you just have to make sure you have the likely buyer in mind when you are renovating and you balance costs well enough to make a profit. That’s something I could probably do a video on in the near future!
Yeah there’s still affordable properties deeper into Kent like Dover that people could use to get onto the property ladder. I guess it depends if people want to relocate for a bit!
Is that a madras kitchen cloth at 2:01? by any chance do you have St.Lucian or Dominican roots? :) Im Dominican 🇩🇲 P.S great video! How many years did it take the own the property you sold?
Haha well spotted! 😆My grandpopsie was Dominican, so I’m 1/4 🇩🇲. Not sure how long it took. I used to save minimum £600 per month and I saved £7000 altogether before buying this place. So definitely less than a year but I had the benefit of living at my mum’s rent free so was able to save. Hope that answers your question!
@@WhenLoveisProjected Oh wow! Yes! I always keep my eye out for the little details :) that's very helpful, thank you so much! I live with my mum at the moment but I'm looking to buy soon, especially with the new budget coming out! I grew up in Dominican but I live in Kent now
Thank you so much for the video, it’s very encouraging. It’s helped me so much to think my dream of owning a home next year with a small deposit is possible. Thank you ❤️ can I ask where in Kent did you purchase your first property please ?
Glad it’s been helpful! ☺️ It was Gravesend. I do have a video on my channel that talks about how to find properties that match your budget. ruclips.net/video/chucNe8auyE/видео.html
Hi very informative video, thanks you ! Can I ask if you used shared ownership to buy your flat or if you used help to buy? I’m not sure if you mentioned how you did it on the video ? ❤️
Hey! Thank you ☺️ No I didn’t use either, it was just a normal 5% deposit/95% mortgage from a bank. Help to buy is only on new builds and shared ownership is usually through a housing association and tends to be on new or new(ish) builds as well.
Hey! Sorry, I can't disclose the area I live in for safeguarding issues especially because of the job I do. I know people are asking because they want to know where they might be able to afford, which why I did the video on how I look affordable properties. Hopefully that should help you out! ☺️
Hi, Do you have any advice on affordable areas outside of / Close to London that are still diverse? This is something that worries me about buying my first property outside of London
It was 2 years, so I’d already picked a new rate which made the monthly payments lower 🥳. I ported it onto my next house so didn’t have to worry about early exit fees. I have a video about porting on my channel if you want more info (it’s one of my more recent vids) ☺️
Thank you so much for this video it’s so well detailed and very motivational. I just want to find out how much you paid your solicitor before buying the house please?
You're welcome, glad you found it motivational! ☺️It was £690. I did a comparison search online and went with the cheapest one that had okay reviews. I think the amount you pay depends on the property though, as there are different charges for leasehold/freehold if I remember correctly.
@@KalesTohThat's expensive, shop around! Estate agents will try to get you to use their in-house solicitors, but they're very expensive in comparison, as I did get a £3000 quote from one. Yes, a purchase/sale may get through quicker if you use in-house solicitors, as the solicitors are right there, but you just have to keep on top of your solicitor if they're more distant. I'd rather pay less money and have to make a few more phone calls than spend thousands more!
Thank you so much for this video. Defo needed to hear this. 😊 Do you mind me asking how much was the ground rent per year and if you had to pay for any other maintenance toward having a flat. Stay safe
Mostly there isn’t! Very rarely you get a house that is leasehold so there are charges, but typically you don’t. This property I bought was a flat (it was a house converted into flats) so there were charges but they were very low in comparison to what some people pay. New build houses on larger developments also usually have charges on them for maintenance of the local area/parks etc (but again not always, just depends).
Definitely not! You can look online for cheaper solicitors and you can use a survey comparison website to find the best survey price. It was £746 for the solicitors I used including all disbursements. The Building survey was £430, so all in it was £1,176.
Thank you. It was just a regular ISA. The help to buy one didn't seem that helpful when I looked at it, so I just had a regular one with my bank that was a good interest rate at the time.
Yes, because it was a residential property that I lived in. If you flip as a BTL or as a ltd company you would have to pay capital gains tax. Flipping is best done as a residential property but it means moving around a lot!!
@@funnyfunmi the first word should be No (hopefully you understood because of the rest of what I wrote). There is no tax for gains on residential property. But you do pay tax for other types of ownership. CGT is more if the property is owned as an individual with a BTL but it’s a little less for Ltd Companies which is why some people hold property portfolios in a ltd company rather than in their own name. Hopefully that clarifies!
@@WhenLoveisProjected Haha I got the gist of what you was trying to say. I also know there are some pension benefits when holding property in a company name rather than your own. Still weighing options atm but thank you for clarifying!
Hey! I explain a bit more about it in another video (trading a 1 bed flat to a 3 bed house), but yes I basically do. It's 2 mortgages at different rates, but the bank combines them together to take one payment out monthly. Hopefully that makes sense!
If you’ve got another property, you can port your mortgage on to that (I explain in my video on trading the flat for a house). If you sold and didn’t have another property then you would pay back the mortgage to the bank and just keep the equity. But yes, you can sell a property that you still have a mortgage on.
Amazing video. Thank you. We are trying to buy a flat and it's been long journey. I wondering did you managed to paid off interested on that flat before you sold it?
Glad you found it helpful! ☺️Hope you manage to buy one soon!! Sorry I don’t understand what you mean by the interest bit. The mortgage was a repayment mortgage not interest only so the loan amount reduced over the time I owned the flat, not sure if that answers your question!
@@elainea1261 no, not at all 90 is considered fine! I talk about this a little more in my leasehold to freehold video but to quickly explain: banks need the lease to extend roughly 25 years past the length of your mortgage term. So if you take out a mortgage for say 30 years, the lease would need say 55 years on it. Definitely watch the vid I have on it though if you’re thinking of getting a leasehold as people have found it helpful!
The full price!! ☺️It was a Victorian house that was converted into 5 flats, you wouldn't get shared ownership on such an old building. There are still one beds/studio flats out there for a decent price!
£467.25 for the year in charges altogether which is decent! Broken down, it was £100 service charge, around £347.25 for the building insurance (a little expensive for insurance because of the type of building) and ground rent was £20.
Hi, yes it was, as most flats are. Sorry, I can’t remember exactly how many years were left, it was a decent amount though, so the next buyer wouldn’t have had an issue keeping it for a few years before trying to extend the lease.
When Love is Projected The flat I’m looking at has 73 years remaining In Chatam Kent, offer at 90k likely to be accepted & the market price was £110,000. What do u think? Also want to renovate the bathroom like u did & hopefully resell it in 2years.
Vizible Marketing okay, so disclaimer..., I’m not a surveyor/estate agent/financial advisor or anything so you should take what I say with the knowledge of that. The lease is a little low for it to be attractive to a standard buyer in 2 years time. However, after owning a property for 2 years you are eligible to extend the lease. A quick look at 1 bed flats in Chatham shows that there’s definitely money to be made assuming you do the relevant works needed and keep the renovation costs low. You can use an online lease calculator to help you figure out how much the lease extension will cost you, then you will know how much money you’re going to make. It sounds like it’s probably still worth buying with the low lease as the difference in your offer is probably around about how much the extension would cost. Once your offer is accepted, do a homebuyers survey to find out what works may need doing and see what they give for the value of the building. It may help you negotiate further or it might show you that you’re getting a good deal. Like I said please bear in mind that I’m saying all of this after searching for info for a couple of mins. I hope it’s helpful though!! ☺️ Here’s a link to a lease extension calculator: www.capitalleasehold.co.uk/lease-extension-calculator/?gclid=EAIaIQobChMIhIS0h9Lg6AIVmLPtCh0lDASpEAAYASAAEgJxqvD_BwE
We were definitely sold a lie!! I remember being told that it wouldn’t affect us. I didn’t realise until I went through the process to buy the flat that it counts as a loan. I guess it doesn’t affect our credit score, it is just counted as debt. The whole thing is a bit of a scam, my student loan decreases by a couple of pounds each year despite me paying back over £100 each month 😒
@@WhenLoveisProjected thank you, I’ll have a watch now. Considering buying my 1 bed home now as I have RTB, however it’s overcrowded for me and my 2 kids. So ideally we need to move
@@NursingwithSarahAleeysha it could be a good move as you’ll get a discount, but then you have to stay there for a certain amount of time before selling it on otherwise they’ll want some money from you. I do have a video that talks about this a little. I think it’s the different ways to buy a house one. Hope it works out for you whatever you decide!
Out of the 100s of property videos I've watched this is BY FAR the BEST 💯
😆glad you think so! Thanks for watching and subscribing!
Loved everything about this video. This was so encouraging and buying a property feels doable now!!
It’s definitely doable! Glad you found it encouraging ☺️🤗
I am tired of watching videos that do not inform you at all.Also they do not show figures. Hi you kept it so simple yet gave so much information I love the way you are genuine and straight forward. Most of the videos I have watched put large amount of money as a deposit and the then find it takes them years to make their deposit back. You made a wise decision because you only put in 4,600 of your own money and used the banks. This is the way to purchase property and within 3 years you made back your deposit, renovated also made a profit and you only used a small amount of money to do this. You are genuine and the information you are giving is realistic to everyday people to get on the property ladder. Regarding student loans and that is important to know and how it would effect your application you are the first person that has given this information. This has made me aware of who I should watch I have watched so many videos on property and have not learnt anything.
lon alis aww that’s very sweet thank you very much for the compliment! I’m glad you found this video useful and I really hope I can keep putting out more content that is helpful and genuine! ☺️🥰
You look like such a genuine lovely person. Thanks for the tips
Aww thank you ☺️. You’re welcome - I hope the tips are helpful to you!
A friend shared this with me. One of the best videos I have seen on buying / home ownership. Thank you! Explained simply and clearly. It’s hard yes but not as hard as you think. Start with what you have and where you are then build from there. Praying & working towards owning my own home in the next year.
Aww I’m glad you liked the video! ☺️ it’s definitely more achievable than people make it out to be and hopefully the 5% deposits come back soon! All the best with working towards home ownership - you can do it!! 💪🏾
So inspirational I’m so looking to buy a property, lord let this be my blessing my Portion
Don't forget to like, subscribe and check out my other videos! There are lots of other videos on my channel that will help you understand more about the property buying process. Thank you for all of the kind comments and support! ❤️
Hiya, we met yesterday at the baby shower! So, of course, I had to check out your channel. Your tips here have given me food for thought. I might even go for something smaller than I wanted to start off with (e.g one bed) and build up from there! ☺️
Hey! It was so lovely to meet you. ☺️ glad you’ve found the tips helpful, I’m sure you can defo make it work. Let me know how you get on! Xx
Wow! Your story is so inspirational! Well done👌🏾👌🏾
Thank you! I'm glad you found it inspirational! :)
this is my first comment on youtube! i feel so proud and motivated that you have done this yourself, congratulations!!👏👏💜💜
Aww thank you ☺️ ☺️. Glad you’re feeling motivated! 🥳
Your an inspiration. I need to wake up and realise that I can get on property ladder now. It's all about aptitude to risk as well. If you take calculated risks they can pay off. I am possibly too risk averse.
Ah thank you ☺️ Yep it’s definitely about calculated risks. You can do it!!
Thank you for not holding back in the details. All the information you provided on figures really helped me understand. X
☺️you’re welcome, glad it was helpful!
This video is so helpful! Please keep doing more :) you’re such an inspiration !
Ah that’s nice to hear! Glad you found it helpful! ☺️
One of the best YT property saving/buying video advice to date from someone who actually who has done it. So inspiring and so refreshing. Love the bit about creative mathematics. The fact that you gave facts and figures and broke it down clearly is just wow. It has made me more optimistic about my decisions now. Have subbed as this content is great and we need to see more of stuff like this. Thanks for sharing!
Thank you - glad you found it inspiring! Thank you for the sub 🥰, I hope you find the other videos useful! ☺️
You’ve actually made me feel really optimistic about getting a 1 bed flat that needs TLC. I was so convinced that I needed at least a 2 bed house with a garden that was all ready to move into. It’s so unrealistic thinking about it and it’s a good idea to spend a bit of money to make money in the long run when you move on. Thank you so much! ❤️
Aww I’m glad!! It’s definitely the best decision I made starting out with that flat. No matter how small a place is that you buy, it’s still yours and it’s still an achievement! ☺️❤️
Very helpful video! This has inspired me to know that it is possible to get onto the property ladder, even with something small. Thank you
Glad it was helpful ☺️
Wooow!!! Sometime I wish I wasn’t from London because now I don’t wanna go anywhere else 😩🤣
Haha, I totally get it 😂
This has given me hope!
Great video,...thank you! 👍
☺️glad you feel inspired!
This is so encouraging and informative!
Glad you found it encouraging! ☺️
Very detailed... will support your channel :) would also love a house tour showing before and after you purchased it :)
thank you ☺️🤗
I'll try and get a before and after tour done! I don't think the before footage is particularly great, but I'm sure I can put something together! :)
wow i love your videos. i watched at least 6 and 7 of your videos tonight, so inspiring and smart you are !
Aww that’s sweet ☺️ thank you! Glad you’ve found them inspiring! 🤗
it is IMPOSSIBLE to find 100k flat in London :(
love how to renovated the flat!
Thank you! Hmm some auction flats come on at £80-100K or so but once people get bidding, it can get crazy! Some flats with short leases can also be around £100K, but really only cash buyers can go for those because they're unmortgageable.😫A 1 bed just outside london is achievable at around £120-150K!
Which areas outside London would you recommend the furthers I’ll go is 1:30 mins from London
@@DeleonRaye depends on your budget. A lot of places in kent are affordable and are 1hr30mins from london. I have a video on my channel (ruclips.net/video/pIp0PNhQtVI/видео.html) that talks about the most affordable places. The prices listed in the video are average prices, so there will be properties cheaper than that in those areas. Hope it's helpful!
@@DeleonRaye Leighton Buzzard, Bletchley and Milton Keynes all have about 40 min fast trains to London Euston. Northampton and Bedford are cheaper (you can get decent flats - no shared ownership for 100k and slightly above) but not as quick to get into London. Still well within 1 hour and 30 mins though by train.
@@WhenLoveisProjected ive seen the best way to go about buy a ex council home with cash so no mortgage ever and live rent free ...
This was truly inspiring! Thank you 😊
Glad you found it inspiring!! ☺️🥳
Thank you for this video, very helpful, and I love that you showed your actually figures, I appreciate that. If I’m being honest with myself , i will most likely buy a flat , as I am a low earner ( nothing wrong with that)
You’re welcome 🤗. Go for it! There’s nothing wrong with a flat at all, everyone has to start from somewhere ☺️
Thank you for this video, brilliant advice. Lovely to hear a realistic story! xx
Glad you found it helpful!
I like your review, it’s a really great eye opener to start the process of buying a house. I’m in the saving stage at the moment and I’m glad I’ve watched your video to rethink how much I actually need to save. Well done to you tho, blessings upon blessings 👍🏽😊
Ah thank you! Glad you found it encouraging! All the best with saving ☺️
This is a great video and proves you don’t have to spent tens of thousands of pounds to get on that property ladder. Very inspirational!
Glad you found it inspiring! ☺️
Thank you for sharing this info. This was great video and very inspiring
I’m glad you found it inspiring! ☺️
Very helpful! I agree that these things take time and will be so worth it when you achieve it. You can buy alone if you make the right decision on the right property. The fact you made money from it is such a bonus! Well done!
Thank you ☺️ Glad you found it helpful!
Thank you so much for the advice and kind words. Very useful information. Best wishes
You’re welcome! ☺️ glad you found the info useful 🤗
Thanks for this video. Very positive, motivational and factually x
No problem! I’m glad you found it motivating ☺️
Thank you for sharing your journey! I wanted to know, did you purchase your first property through an auction? I've noticed most properties right now that are less than 100k seem to be all auctions
Hi Laila, No problem! no it wasn't at auction, it was just a normal purchase and quite a few years ago now. Pre-pandemic, you could still find properties in the South East region that were around the £100K mark, but prices have risen since. Even at auction, those properties will probably sell for much more than £100K as that is just the guide price (sometimes you can find a good deal at auction though!)
Great vid really helpful X
Glad you found it helpful!
This video is so helpful and great. Thank you so much ❤️
No problem! 😌 Glad you found it helpful! ☺️
So encouraging! Very well done to you, wishing you all the best xxx
Thank you! Your comment is also encouraging! ☺️
I’m so proud of you right now
Aww thank you ☺️☺️
Love this video - so many nuggets and very realistic. 🙌🏿🙌🏿
😆thanks Steph! 😘
Thank you so much for this video! I am really motivated to live in Canterbury, Kent, but the prices are out of my budget as a single income household - I'd need to save a £50k or £70k deposit in order to move there straight away. The way you redid your first home was amazing and such a great motivator and reminder that I don't need to aim for where I want to live first off, I can step onto the ladder gradually, sell a property for more than I bought it for, and move my way up! I am looking into areas like Chatham and Ramsgate etc. instead - closer to London, yet somehow cheaper. I am hoping to have a deposit along the lines of £33k, so if I were to get a much smaller mortgage like you did, then I could really have a much cheaper mortgage and invest in the property and have a fun life for a little while as a bit of a treat!
I also felt quite trapped by the idea of shared ownership being my only option, but the negatives really outweighed the positives for me - thank you for this video, as it has given me hope that I can just buy somewhere 100% as a single person and make it work for me!
@@chiccathepom3536 You can definitely do it alone and without shared ownership! I think sometimes we forget that it's called a property ladder for a reason! 🤗Canterbury does seem to be more expensive than other areas of Kent even though it's further out, but I guess it is a nice town though! I'm so glad this video was helpful to you! ☺️
Move to outskirts sort of like sturry. I leave in Margate so ramsgate is a good one to buy right one so is Broadstairs
Excellent video. Very informative and inspirational.
Glad you found it inspirational! ☺️
Thanks for your advice 😊
butterfly tears no problem! ☺️
Great Watch!
Thank you ☺️
Dear Love, that is an amazing review
☺️glad you liked the video!
@@WhenLoveisProjected Just wanted to know what should be the overall yearly income? No where can find the answer till now...
@@simonareznik7313 Banks will lend roughly 4.5x your annual salary, but this depends on the amount of debt you had. Someone with no debt could technically have gotten this property earning £20,000 a year. I had debt and my salary at the time was just over £30K. If you're not sure how much you can borrow, have a look at my video called "how you can get started on your property journey". Hope this helps! :)
@@WhenLoveisProjected so open answer need to research as seven years in London - sharing bird ...
Great video, thank you for uploading this!!!
You’re welcome 😊 glad you liked it!
Great video, great personality, needed this video, thank you ✝️ God Bless
Aww thank you ☺️. Glad it was helpful! 🙏🏾
This was very informative
Glad you found it useful! ☺️
Well said. Thanks
☺️
Thank you for your story, its given me some faith x :)
I'm glad it was helpful. "Faith finds sources others can't see", you'll make it happen! 🤗
Sister is a Lioness go on hustler skilled woman
🥰😅I’m trying! Thank you ☺️
Love this! I have an £85k deposit at 23... I saved at my parents , but now I think.. you’ve literally used the smallest amount of money and made a huge profit all from your first property. Really good
Well done for saving a huge amount so young! 🥳 Yes the flat was a really good financial investment for me. 😊
This video helped me so much! Thankyou!
Well said...
Thank you for this video very well explained and inspires women like me who want to own a property to do it. Do you recommend anyone lawyer or brokers to do these transactions ?
I’m so glad this inspired you! 🤗 I usually go direct to the bank, I’ve only just started using my mum’s broker so too early to tell what she’s like! I wouldn’t recommend the lawyers I’ve used so far. The best thing is to look at a company’s reviews especially at a time like this because some aren’t coping with the stress of the c-vid situation!
Thank you very much . I’m inspired
You're welcome! I'm glad the video inspired you 🤗
Luv this video, it was very helpful and extremely encouraging.
☺️🤗glad you found it useful, thank you for watching it!
I came up to this video by a coincidence and end up realising that I live the same street where you used to live small world 😊
😯😅very small world indeed! Hope you enjoyed the video!
Thank you for the inspiration. Xxx
Wow and im here thinking that i cannot get anything without saving at least 40k.
Love your video, really inspired me.
Glad to hear it! Yes, you can definitely do something with less than 40k, The property might not be exactly what you want, but you can use it to get where you want to get 🤗
@@WhenLoveisProjected you recon a single person with a 50k salary is good enough to get in to the property ladder?
According to what they say200 to 250k its what the bank would let me, but looking at properties in london, that is nothing.
I was thinking on looking out side london.. but how far would that be ?
What would you recommend 🤔?
Alvaro b well you earn more than me and you I have a 3 bed house in Kent that I bought by myself. Where I live is a 30min drive to SE London You could definitely get something on the edges of London with that budget. Even in London I would say if you’re okay with a flat that needs fixing up a little, I’ve seen quite a few properties around that budget. Have a look at my video on how I look for affordable properties, you are actually in a really strong position I would say.
Alvaro b also look at my video on how to get started in your property search. Once you plug your figures in you’ll know for sure how much a bank would be willing to lend. Hope that’s helpful!
@@WhenLoveisProjected thank you very much for your answers 🙏 ❤
Well done !!
thank you! :)
Loved this video!
Glad you liked it ☺️☺️
This is inspiring 2nd time watching. Do you think this is still possible given the current climate and mortgage deposit expectations? Also wondering whether you can do an updated video in the near future given advice or tips based on current recession etc
Hmmm...5% deposits are rare at the moment apart from on new builds using Help to Buy. I think the concept is still the same though - it's about compromise and it's all about maths and loan to value. So, if you have £10,000 saved up, that can be a 5% deposit on a £200,000 property or it can be a 10% deposit on a £100,000 property etc. You would have to see what the banks are willing to lend and add your deposit to it to see what you could afford to buy. I can definitely do a video about the current climate though and how I it relates to property!
@@WhenLoveisProjected thanks for the info, i will keep researching and will look forward to that future video. :)
Congrats, you've done well
☺️thank you!
You go Girl!
Thank you so much for your video sweetheart
I wonder if the same would apply if you're over 45 - 50 🙄😒😒
Aww maybe not, because the mortgage wouldn’t be as much 😔 Lenders use how many years you have until retirement to calculate how much money they’ll lend. It’s always worth using a mortgage calculator to see how much you could borrow ☺️
@@WhenLoveisProjected *THANK YOU SO MUCH MY SWEETHEART*
Such a great video, encouraging to get on to the property ladder with not much to start with - thank you! I'm curious how did you find the motivated seller and how did you decide on the area for your first flat?
Glad you’ve found it encouraging. ☺️ The property market has changed a lot in the last few years but I still think it’s largely true that people can work with a lot less than they think. I went according to my budget when looking for property and accessibility to London. The flat I’d found (and my next house as well) was previously on the market, but sale fell through and so it had to go back on the market. When a seller has been messed around, they tend to be more motivated. Hope that’s helpful!
@@WhenLoveisProjected that make sense - definitely helpful! Thank you
This is amazing!!! Thank you for this video!
You’re welcome, glad it was helpful! ☺️
Very helpful. Thanks!
This is so helpful thank you
glad you found it helpful! :)
Very helpful video, thank you!
🤗🤗
I just found this video as myself and my husband are hoping to get in the property ladder. We currently have £10,000 saved up and NEVER thought this was enough to get on the property ladder. We always thought we needed at least £40 grand plus etc even for a flat! (We live in the South West of England). This is so inspiring and has given us enough confidence to seek some property advise and potentially get on the ladder soon 😁 . Do you mind me asking how much your car finance was? We do have a vehicle on finance and are hoping this wont effect our chances? Xx
Ah I'm glad you found it helpful! Yes, go for it!! You can definitely get on the property ladder for much less than 40K. (I put less than 40K in for my 3 bed house) Gosh I can't remember the numbers for the car. It was a bit ridiculous though, because my monthly payments were £360. I had bought an A3 and I must have had it for 2 years when I got the flat. They will look at the total amount left to pay to help them calculate. I would say you are in a much stronger position than I was though, you have a higher deposit and there are two of you. It's a good idea to use the bank's AIP calculators before sitting down with a financial advisor. It will give you a figure to work with after you plug in your values for wages/debt etc. They are so accurate if you plug accurate numbers in. Hope this helps, any more questions, feel free ☺️
@@WhenLoveisProjected Thank you so much for your reply. Wow! Such helpful advice, I really appreciate it. Woth everything happening at the moment we might pause our house search for now and continue to save and then look again once the economy is in a stronger position and mortgage rates aren't throw the roof ❤
@@TheRoxStarlet You're welcome! I would still encourage you to keep an eye out, you never know when a deal might pop up! Interest rates seem to be okay at the moment, just less mortgage products available and stricter lending requirements. It seems as though those with a larger deposit are in a better position at the mo! This article might be useful for you www.zoopla.co.uk/discover/property-news/coronavirus-mortgage-rates-fall-but-lenders-remain-cautious/ 🤗
@@WhenLoveisProjected Thank you so much that's so helpful 😁😘
I liked your video I’m thinking of flipping houses soon when I start earning more (doing my masters right now working part time). My only worry is being able to sell do you think it will be easy to sell and advice on thatv
Thank you ☺️. Hope the masters is going well! Hmm yeah I think selling is easy enough, you just have to make sure you have the likely buyer in mind when you are renovating and you balance costs well enough to make a profit. That’s something I could probably do a video on in the near future!
I knew it would be Kent 😯😂 there’s a flat at the bottom of my road for 50k literally by the sea front
Yeah there’s still affordable properties deeper into Kent like Dover that people could use to get onto the property ladder. I guess it depends if people want to relocate for a bit!
Is that a madras kitchen cloth at 2:01? by any chance do you have St.Lucian or Dominican roots? :) Im Dominican 🇩🇲 P.S great video! How many years did it take the own the property you sold?
Haha well spotted! 😆My grandpopsie was Dominican, so I’m 1/4 🇩🇲. Not sure how long it took. I used to save minimum £600 per month and I saved £7000 altogether before buying this place. So definitely less than a year but I had the benefit of living at my mum’s rent free so was able to save. Hope that answers your question!
@@WhenLoveisProjected Oh wow! Yes! I always keep my eye out for the little details :) that's very helpful, thank you so much! I live with my mum at the moment but I'm looking to buy soon, especially with the new budget coming out! I grew up in Dominican but I live in Kent now
@@riannaextras7697 oh I hope it all goes well for you 🙏🏾 Kent still has some places that are reasonable for first time buyers!
Thank you so much!
honeysvw ☺️🤗
So inspirational
Amazing video !!
Glad you liked it ☺️
Love the video! Thank you
Glad you liked it 🤗
Thank you so much for the video, it’s very encouraging. It’s helped me so much to think my dream of owning a home next year with a small deposit is possible. Thank you ❤️
can I ask where in Kent did you purchase your first property please ?
Glad it’s been helpful! ☺️ It was Gravesend. I do have a video on my channel that talks about how to find properties that match your budget. ruclips.net/video/chucNe8auyE/видео.html
Hi very informative video, thanks you ! Can I ask if you used shared ownership to buy your flat or if you used help to buy? I’m not sure if you mentioned how you did it on the video ? ❤️
Hey! Thank you ☺️ No I didn’t use either, it was just a normal 5% deposit/95% mortgage from a bank. Help to buy is only on new builds and shared ownership is usually through a housing association and tends to be on new or new(ish) builds as well.
May I ask which area (to the closest station or with whatever you're comfortable disclosing in terms of area) you purchased both your homes?
Hey! Sorry, I can't disclose the area I live in for safeguarding issues especially because of the job I do. I know people are asking because they want to know where they might be able to afford, which why I did the video on how I look affordable properties. Hopefully that should help you out! ☺️
Hi,
Do you have any advice on affordable areas outside of / Close to London that are still diverse? This is something that worries me about buying my first property outside of London
Thanks for watching! Yes, I can do a video on this actually, as I've seen that question asked a few times! Stay tuned!
Hi, what term was your first mortgage? Just as you sold it after three years. Thanks!
It was 2 years, so I’d already picked a new rate which made the monthly payments lower 🥳. I ported it onto my next house so didn’t have to worry about early exit fees. I have a video about porting on my channel if you want more info (it’s one of my more recent vids) ☺️
Gurl I need to speak with you Subscribed!
Woww that’s amazing 👍
Thank you!
Thank you so much for this video it’s so well detailed and very motivational. I just want to find out how much you paid your solicitor before buying the house please?
You're welcome, glad you found it motivational! ☺️It was £690. I did a comparison search online and went with the cheapest one that had okay reviews. I think the amount you pay depends on the property though, as there are different charges for leasehold/freehold if I remember correctly.
When Love is Projected thank you, I was under the impression I had to pay at least £3000. Thank you clarifying this for me.
@@KalesTohThat's expensive, shop around! Estate agents will try to get you to use their in-house solicitors, but they're very expensive in comparison, as I did get a £3000 quote from one. Yes, a purchase/sale may get through quicker if you use in-house solicitors, as the solicitors are right there, but you just have to keep on top of your solicitor if they're more distant. I'd rather pay less money and have to make a few more phone calls than spend thousands more!
When Love is Projected I really appreciate this information!! Yes I rather safe my money as well. Thank you so much!!! ❤️❤️
Thank you so much for this video. Defo needed to hear this. 😊 Do you mind me asking how much was the ground rent per year and if you had to pay for any other maintenance toward having a flat. Stay safe
You're welcome! Not at all, I don't mind sharing. Ground rent was £10 and service charge was £100 on this property,, which was really low/affordable!
@@WhenLoveisProjected Yeah, it is affordable! Thank you. Loving the videos, helping my research
@@shennelallen1114 ☺️
I thought no service charge on houses?
Mostly there isn’t! Very rarely you get a house that is leasehold so there are charges, but typically you don’t. This property I bought was a flat (it was a house converted into flats) so there were charges but they were very low in comparison to what some people pay. New build houses on larger developments also usually have charges on them for maintenance of the local area/parks etc (but again not always, just depends).
How much did you spend on the flat survey and the solicitors costs? Surely, they are around 3k?
Definitely not! You can look online for cheaper solicitors and you can use a survey comparison website to find the best survey price. It was £746 for the solicitors I used including all disbursements. The Building survey was £430, so all in it was £1,176.
Amazing! Thankyou
You're welcome :)
Great video. What type of ISA did you have?
Thank you. It was just a regular ISA. The help to buy one didn't seem that helpful when I looked at it, so I just had a regular one with my bank that was a good interest rate at the time.
@@WhenLoveisProjected Thank you for your reply
Hi, thank you for making this video! Did you have to pay tax on your profit or were you able to reinvest the whole amount?
Yes, because it was a residential property that I lived in. If you flip as a BTL or as a ltd company you would have to pay capital gains tax. Flipping is best done as a residential property but it means moving around a lot!!
@@WhenLoveisProjected Ah okay thank you for explaining! 😊
@@funnyfunmi the first word should be No (hopefully you understood because of the rest of what I wrote). There is no tax for gains on residential property. But you do pay tax for other types of ownership. CGT is more if the property is owned as an individual with a BTL but it’s a little less for Ltd Companies which is why some people hold property portfolios in a ltd company rather than in their own name. Hopefully that clarifies!
@@WhenLoveisProjected Haha I got the gist of what you was trying to say. I also know there are some pension benefits when holding property in a company name rather than your own. Still weighing options atm but thank you for clarifying!
quick question, does that mean you currently have two mortgages, or how does it work.
Hey! I explain a bit more about it in another video (trading a 1 bed flat to a 3 bed house), but yes I basically do. It's 2 mortgages at different rates, but the bank combines them together to take one payment out monthly. Hopefully that makes sense!
So basically, you can sell your mortgage flat whiles still paying for it?
If you’ve got another property, you can port your mortgage on to that (I explain in my video on trading the flat for a house). If you sold and didn’t have another property then you would pay back the mortgage to the bank and just keep the equity. But yes, you can sell a property that you still have a mortgage on.
Amazing video. Thank you. We are trying to buy a flat and it's been long journey. I wondering did you managed to paid off interested on that flat before you sold it?
Glad you found it helpful! ☺️Hope you manage to buy one soon!! Sorry I don’t understand what you mean by the interest bit. The mortgage was a repayment mortgage not interest only so the loan amount reduced over the time I owned the flat, not sure if that answers your question!
Amazing
Great video! How many years were on the lease when you bought the one-bed?
I think it was around 90 or so, which was enough time for the next person to own it for a couple of years and think about the lease extension
@@WhenLoveisProjected thank you so much. Did you find it tricky to find a mortgage lender with 90 years on the lease?
@@elainea1261 no, not at all 90 is considered fine! I talk about this a little more in my leasehold to freehold video but to quickly explain: banks need the lease to extend roughly 25 years past the length of your mortgage term. So if you take out a mortgage for say 30 years, the lease would need say 55 years on it. Definitely watch the vid I have on it though if you’re thinking of getting a leasehold as people have found it helpful!
Will do, thanks again 🙏🏾
Hi is the house full price £92,000 or is that the share ownership share price
The full price!! ☺️It was a Victorian house that was converted into 5 flats, you wouldn't get shared ownership on such an old building. There are still one beds/studio flats out there for a decent price!
How much did you have to pay in service charges?
£467.25 for the year in charges altogether which is decent! Broken down, it was £100 service charge, around £347.25 for the building insurance (a little expensive for insurance because of the type of building) and ground rent was £20.
This video is so timely. Thank you so much.
You’re welcome ☺️
Was it a leasehold & how many years was remaining on the lease before you resold it if so?
Hi, yes it was, as most flats are. Sorry, I can’t remember exactly how many years were left, it was a decent amount though, so the next buyer wouldn’t have had an issue keeping it for a few years before trying to extend the lease.
When Love is Projected The flat I’m looking at has 73 years remaining In Chatam Kent, offer at 90k likely to be accepted & the market price was £110,000. What do u think? Also want to renovate the bathroom like u did & hopefully resell it in 2years.
Vizible Marketing okay, so disclaimer..., I’m not a surveyor/estate agent/financial advisor or anything so you should take what I say with the knowledge of that. The lease is a little low for it to be attractive to a standard buyer in 2 years time. However, after owning a property for 2 years you are eligible to extend the lease. A quick look at 1 bed flats in Chatham shows that there’s definitely money to be made assuming you do the relevant works needed and keep the renovation costs low. You can use an online lease calculator to help you figure out how much the lease extension will cost you, then you will know how much money you’re going to make. It sounds like it’s probably still worth buying with the low lease as the difference in your offer is probably around about how much the extension would cost. Once your offer is accepted, do a homebuyers survey to find out what works may need doing and see what they give for the value of the building. It may help you negotiate further or it might show you that you’re getting a good deal. Like I said please bear in mind that I’m saying all of this after searching for info for a couple of mins. I hope it’s helpful though!! ☺️ Here’s a link to a lease extension calculator: www.capitalleasehold.co.uk/lease-extension-calculator/?gclid=EAIaIQobChMIhIS0h9Lg6AIVmLPtCh0lDASpEAAYASAAEgJxqvD_BwE
When Love is Projected Thank you so much😌
Why is student finance considered as loan? We’re sold this lie that it won’t effort our credit etc.
We were definitely sold a lie!! I remember being told that it wouldn’t affect us. I didn’t realise until I went through the process to buy the flat that it counts as a loan. I guess it doesn’t affect our credit score, it is just counted as debt. The whole thing is a bit of a scam, my student loan decreases by a couple of pounds each year despite me paying back over £100 each month 😒
When Love is Projected wow that’s crazy thank you for responding. I enjoyed watching your video please post more.
LoveFromDrey I will! Let me know if there’s anything specific you want me to do a vid on! ☺️
The money saving expert guy said it shouldn't count towards when u buy a house so I'm confused.
They count student finance as income when accessing benefit and as a loan when trying to get credit
How long did you leave in the 1 bed before you got your 3 bed?
I didn’t move in straight away. I owned it for just over 2yrs but lived there for 1 and a half years
I do also have a video about how I went from the 1 bed to the three bed
@@WhenLoveisProjected thank you, I’ll have a watch now. Considering buying my 1 bed home now as I have RTB, however it’s overcrowded for me and my 2 kids. So ideally we need to move
@@NursingwithSarahAleeysha it could be a good move as you’ll get a discount, but then you have to stay there for a certain amount of time before selling it on otherwise they’ll want some money from you. I do have a video that talks about this a little. I think it’s the different ways to buy a house one. Hope it works out for you whatever you decide!
@@WhenLoveisProjected yes I’ll definitely look into it some more. Thank you for replying x