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The stamp duty holiday is definitely a good move but you’re right as a lot of lenders have pulled the mortgage deals with low deposit amounts. Big deposits needed especially in London and the South East.
Thanks Neil - yes it certainly helps save some money but unfortunately it creates an artificial demand which means first time buyers will be competing with each other resulting in people having to pay a premium to secure properties. I had a feeling back in March and April they would do this and it’s exactly the route they have gone down!
The Nimble Nomad Its a good point re the big influx of buyers artificially keeping prices high. Difficult one if you are a first time buyer. Do you take the bonus or gamble and leave it 12 months or so. I think if I wasn’t in a rush to buy I would gamble and hope prices drop away. Difficult decision though.
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How much money mortgage can I borrow.. is it 4 times or 5 times of our salary... pls let me know
It depends completely on your personal circumstances but I believe the maximum is up to 4.5x
Hope this video helps you out! Please do comment if you have different views below - I would love to hear from you!
If you enjoyed this video - Don't forget to LIKE & SUBSCRIBE!
The stamp duty holiday definitely helps out. Bigger deposed makes it harder but it helps the buyers as long as the interest rates stay low 😀
Agree - but only as long as you aren’t overpaying for the property in question and you have the deposit!
Thank you for your comment!
The stamp duty holiday is definitely a good move but you’re right as a lot of lenders have pulled the mortgage deals with low deposit amounts. Big deposits needed especially in London and the South East.
Thanks Neil - yes it certainly helps save some money but unfortunately it creates an artificial demand which means first time buyers will be competing with each other resulting in people having to pay a premium to secure properties. I had a feeling back in March and April they would do this and it’s exactly the route they have gone down!
The Nimble Nomad Its a good point re the big influx of buyers artificially keeping prices high. Difficult one if you are a first time buyer. Do you take the bonus or gamble and leave it 12 months or so. I think if I wasn’t in a rush to buy I would gamble and hope prices drop away. Difficult decision though.
Absolutely agree