UPDATES 1) The final date for homebuilders to take reservations under the current HTB Equity Loan scheme is Tuesday 15 December. 2) Link to regional price caps for homes bought with Help to Buy: Equity Loan: www.helptobuy.gov.uk/equity-loan/help-to-buy-equity-loan-2021-2023/
@SA-oj7rp
3 жыл бұрын
Is it too late to back date? I just reserved a property yesterday, so I've missed the deadline.
@SelfInvested
3 жыл бұрын
@@SA-oj7rp I think it’s too late. Get in contact with them online and ask to be sure. If you’re a first time buyer you will still be eligible for the new scheme!
@SA-oj7rp
3 жыл бұрын
@@SelfInvested After 5 years can I only pay monthly interest only on the equity and not the monthly repayment?
@SelfInvested
3 жыл бұрын
So from year 6, all you’ll pay is the interest. The monthly payments won’t be repayments. If you want to make a repayment, you’ll need to payback at least 10% of your property’s value. If you want to find out more, check this video: kzitem.info/news/bejne/srBj12yBnaSLe5w
@SA-oj7rp
3 жыл бұрын
@@SelfInvested Thank you. I've subscribed to your channel, it's so informative.
@tnoble1790
3 жыл бұрын
You did a great job explaining something quite technical. I understood you bro 👍🏾👌🏾
@SelfInvested
3 жыл бұрын
Thank you for watching and for the feedback!
@SelfInvested
3 жыл бұрын
Let me know your thoughts on the video... Was my explanation of inflation, RPI and CPIH clear? Also, don't forget to watch out for my next video where I will give a practical example of the costs involved with purchasing a property with and without a Help to Buy Loan when you have a 10% deposit... Make sure you subscribe to the channel and hit the notification bell to make sure you don't miss it!
@emuobordafimu1942
3 жыл бұрын
A good explanation and easy to absorb - feedback would be to do a summary at the end with 3 top key points from the video.
@SelfInvested
3 жыл бұрын
Thank you for watching, Emuobor! I think that’s a good idea, noted!
@abiddiba
3 жыл бұрын
I’m a first time buyer and looking to use this scheme. Thanks for sharing. I’ve subscribed
@SelfInvested
3 жыл бұрын
Thanks for watching and subscribing!! Make sure to watch all my videos on the HTB loan, especially the latest one! It’s important you do all the research and number crunching you can! Have you spoken to a mortgage broker?
@jbrown6009
3 жыл бұрын
This was great, wish I had access to this before I got on to the property ladder!! Looking forward to the next one
@SelfInvested
3 жыл бұрын
Thank you for watching! Hope you enjoy the next one! I definitely thinking you'll find it interesting!!
@SummerSibz204
3 жыл бұрын
Thank you for taking the time to break this down. Very helpful as Im saving up for my first home.
@SelfInvested
3 жыл бұрын
You're welcome and thank you for watching! Good to hear you're saving up to buy your first home. Have you already got a Lifetime ISA or HTB ISA?
@leothebeekeeper3240
2 жыл бұрын
4.30sec the second point you made in this statement is exactly what I was thinking and discussing with my family and friends if the government wanted to help first time buyers they would allow us as buyers to choose what type of property to buy. There should be more of an incentive to buy a new build extra discounts.
@SelfInvested
2 жыл бұрын
That's why some call the scheme 'Help to Sell', which it certainly has done!
@dannie6958
3 жыл бұрын
You did a brilliant job explaining
@SelfInvested
3 жыл бұрын
Thank you Dannie! I appreciate the feedback!
@iffatiqbal786
3 жыл бұрын
Very informative thank you self invested.
@SelfInvested
3 жыл бұрын
Thank you for the kind words, and thank you for watching!!
@RestingonHope
3 жыл бұрын
Well done - nice and simple for folk like me
@SelfInvested
3 жыл бұрын
Haha! Thank you!
@nkemdirim84
3 жыл бұрын
This is an excellent explanation! Thank you for putting this together. As an International Economics alum, I can say in my opinion, you broke down the different measures of inflation v well & took into account all the caveats that we can assume at this time. Top work 👏🏾
@SelfInvested
3 жыл бұрын
Thank you 🙏🏿 I’m glad you think so. I really appreciate the feedback!
@weiweimao6461
3 жыл бұрын
Thank you. This is very clear.
@SelfInvested
3 жыл бұрын
You’re very welcome!
@sisternum9022
3 жыл бұрын
Very informative much appreciated for your sharing
@SelfInvested
3 жыл бұрын
My pleasure! Make sure you check out my playlists to get a better understanding of the HTB schemes!
@LeeEverittProperty
3 жыл бұрын
Good video mate, clear advice m, keep it up!
@SelfInvested
3 жыл бұрын
Thanks, Lee! Appreciate the encouragement! It’s not easy, as I’m sure you are aware! Just trying to make educational videos, with clear explanations!!
@LeeEverittProperty
3 жыл бұрын
@@SelfInvested it is tough! You're doing great though! Nearly at 100 subs already!
@Havranek77
3 жыл бұрын
Great job explaining everything!
@SelfInvested
3 жыл бұрын
Thank you! 🙏🏿
@Ziphozibo
3 жыл бұрын
Thank u good job well explained 4 a prospective 1st time buyer
@SelfInvested
3 жыл бұрын
You're welcome! I take it that you're not a first-time buyer?
@Ziphozibo
3 жыл бұрын
@@SelfInvested no not yet but saving up to buy hopefully in the coming 1:2years
@SelfInvested
3 жыл бұрын
@@Ziphozibo Make sure you use your HTB ISA or Lifetime ISA, and get your bonus!
@JonnyRootsDem
3 жыл бұрын
Well explained, it helped me out.
@SelfInvested
3 жыл бұрын
Thank you Jonny! I’m happy you found it useful :)
@ic6698
3 жыл бұрын
Nicely and well explained. :)
@SelfInvested
3 жыл бұрын
Thanks again! I’m glad you think so!
@reneerobinson5273
3 жыл бұрын
As a person who would barely be able to afford to buy. A new build might be my only option, the older homes a lot of them needs improvement and if they already have improvements they are so expensive. Thank you for explaining this scheme it doesn’t seem so bad after all it might be better than the part buy part rent scheme.
@SelfInvested
3 жыл бұрын
TBH, I think the H2B scheme is better than the Shared Ownership, but the main thing you need to be careful of is that people tend to pay over the odds for new build homes with the H2B scheme. Here’s a video in which I compare the two schemes: kzitem.info/news/bejne/zKGcqYN_o2hhfII
@reneerobinson5273
3 жыл бұрын
Thank you. I will give that a watch. This crazy obsession with buying a home is out of control
@SelfInvested
3 жыл бұрын
I completely agree! I plan to do a video on buying vs renting because I think there’s too much pressure on people to buy a home, which can push them into making bad decisions
@reneerobinson5273
3 жыл бұрын
Please do that video. Because I am renting and it’s always been my dream to buy. But after watching your videos I wonder if it’s all worth it. So that would be a welcome video
@proximaBx
3 жыл бұрын
Very helpful 👍
@SelfInvested
3 жыл бұрын
Glad you think so! Thank you
@soniasandhu6657
3 жыл бұрын
Good video thank you..just wanted to ask this help to buy is still to buy a new built ? Or you can buy any house
@SelfInvested
3 жыл бұрын
Thank you! Unfortunately, the H2B equity loan will still only be for new builds!
@paulhill9800
2 жыл бұрын
Grate video… Can you use the help to buy on shared ownership property?
@SelfInvested
2 жыл бұрын
Thanks, Paul! No, you can’t use HTB to buy Shared Ownership. It’s one or the other. In this video, I compare the two… kzitem.info/news/bejne/zKGcqYN_o2hhfII
@paulhill9800
2 жыл бұрын
@@SelfInvested can I ask you to be honest with me how many mortgage brokers lie to sell her house?
@haryorbahmmy
3 жыл бұрын
Do you think the government will likely extend the help to buy scheme past march 2023?
@SelfInvested
3 жыл бұрын
To be completely honest, I'm not sure - sorry! If I do find out, I'll make a video on it.
@Chillednfunked
3 жыл бұрын
Fantastic explanation my question is what happens to the money I’m currently putting into the help to buy investment moving forward? I’ve not reached the threshold before it changes? Any advice would be helpful - thanks. Btw I’m subscribed.
@SelfInvested
3 жыл бұрын
Haha! It’s not just ‘h’ I pronounce incorrectly. I’m just happy you understood me!
@SelfInvested
3 жыл бұрын
Thank you for the sub! Are you asking about the Help to Buy ISA?
@itzmeElizamathanoshto
3 жыл бұрын
Could you please make a video on Index funds such as maybe S&P 500, how to put money in it and stuff because its current value is 3,465.39 does that mean I would have to pay that every year or every month and can I not put in lets say £200 every month for 10 years or something. Just a bit lost about it. Thanks
@SelfInvested
3 жыл бұрын
Thanks for watching this video! I've done a video on Stocks & Shares ISAs which you might find useful - kzitem.info/news/bejne/wGhpmG2GrH2md4o When you invest into an index fund tracking the S&P 500, you're pooling your money with other people to buy shares in the S&P 500. This usually means you can invest very little and still own part of an index fund. You can invest once or as many times as you likely. Because you invest into an index fund once, it doesn't mean have to continue doing so. Hope this helps and I'll be making more investing videos in the future for sure!
@ChannetteCarleoTV
3 жыл бұрын
Thank you so much for this video it’s really well explained. I’m hoping to buy a house in the next couple of years and was looking at the help to buy scheme to get on the ladder earlier and hopefully sale that in a few years and get a full mortgage from the equity. My question to you is if I use help to buy first and sale before the 5 years interest period is that possible and a good way to work what I want to do?
@SelfInvested
3 жыл бұрын
Thank you for the feedback and for watching! I think I might have answered your question in a video called, 'Are you better off without a HTB loan?' (kzitem.info/news/bejne/s4hv0p17q4mloH4). Let me know if it doesn't answer your question, but I think it will. Also, Have you considered going for an existing property? The HTB loan limits you to just new builds which are sold at a premium and can cost 16-22% more. You may be able to afford an existing property without a HTB loan. Have you spoken to a mortgage advisor?
@ChannetteCarleoTV
3 жыл бұрын
@@SelfInvested Hi I did watch this video whilst it was useful to compare overall interest payment and equity my question is more focused on get a HTB on a new build. Selling before the 5 year interest is added and using any equity towards a existing property deposit and remortgaging to a normal mortgage for that if that makes sense? Basically I’m asking can you utalise the H2B scheme to get in the ladder with a 5% deposit then sell and buy another house with any equity on a normal mortgage right before the H2B interest starts??
@ChannetteCarleoTV
3 жыл бұрын
@@SelfInvested I have not looked at existing properties because as far as I’m aware you need a bigger deposit?
@SelfInvested
3 жыл бұрын
So yes, typically you need a bigger percentage deposit without the HTB loan, but existing properties tend to be cheaper. Also, the government plan to reintroduce 95% mortgages, which will hopefully mean you'll be able to buy existing properties with a 5% deposit as well - the only thing is we don't know when this will happen, but it will likely be after April 2021... Have you spoken with a mortgage adviser? Check out my video where I talk to one (kzitem.info/news/bejne/2IiwxWWJcn9yiI4) you might find it useful!
@SelfInvested
3 жыл бұрын
In response to your question about using HTB to get on the property ladder, then selling to pay it back and buy another home, this is possible. It's not necessarily a bad idea. I discuss this in a video I did with a mortgage adviser last week (kzitem.info/news/bejne/2IiwxWWJcn9yiI4). Have a watch, let me know your thoughts!
@natashaladega9153
3 жыл бұрын
This was a great video. I just wanted to ask if you was to able to pay the government loan before the interest free period of 5 years would that be a fixed price? And are you allowed to pay off the loan before the 5 years ?
@SelfInvested
3 жыл бұрын
Thank you, Natasha! I'm glad you enjoyed the video. So, as far as I understand, you can repay the loan within 5 years. However, when you repay the loan, you'll need to get a valuation done which is valid at the time you complete your repayment (valuations are valid for 3 months usually). If you want to find out more about the repayment process, check out this video: kzitem.info/news/bejne/srBj12yBnaSLe5w - I've got quite a few videos on the H2B loan, by the way, check out my playlists.
@natashaladega9153
3 жыл бұрын
@@SelfInvested thank you very much just came across your videos and subscribed. I will do that thank you.
@SelfInvested
3 жыл бұрын
;)
@dylanquashie1362
3 жыл бұрын
👑✨🙌🏾
@SelfInvested
3 жыл бұрын
🙏🏿👍🏿
@RumahAydin
3 жыл бұрын
If let say my husband is first time buyer and I owned a property (abroad but sold it last year), we wouldn't be eligible under the new scheme?
@SelfInvested
3 жыл бұрын
That’s good question to which I don’t know the answer. Let me see if I can find out for you...
@SelfInvested
3 жыл бұрын
So I contacted the Money Advice Service to get an answer to your question. From what they've said, from April 2021, the Help to Buy Equity Loan will only be available to first time buyers that have not owned a property before anywhere in the world. You can contact them directly via their web chat facility if you have any further questions...
@SA-oj7rp
3 жыл бұрын
Can I apply for interest only mortgage so I could save the repayment money to pay for the Equity Loan first?
@SelfInvested
3 жыл бұрын
I don't think you can get an interest only mortgage with Shared Ownership properties, but I'll need to check to make sure. Also, when you start making payments on the equity loan, it will be interest only payments, not repayments. There's a specific process for making repayments which isn't as straight forward as you would think. Check out this video to find out more: kzitem.info/news/bejne/srBj12yBnaSLe5w
@SA-oj7rp
3 жыл бұрын
@@SelfInvested it's for Help to Buy with equity loan, so I was wondering if I could get a mortgage with interest only repayment.
@SelfInvested
3 жыл бұрын
@@SA-oj7rp Apologies Shah! Meant to write equity loan. I think the same but will check for you!
@SA-oj7rp
3 жыл бұрын
@@SelfInvested Thank you so much, you're a star! Also, your videos are amazing!
@SelfInvested
3 жыл бұрын
I checked directly with my local H2B and they stated that "you cannot proceed with an interest only mortgage".
@AlexbatYudah
3 жыл бұрын
Sorry i cant tell u how the video was...u distracted me cutie😉
@SelfInvested
3 жыл бұрын
Haha! Have you tried minimising the screen and just listening? Lol!
@AlexbatYudah
3 жыл бұрын
To be honest it was great...do you have any info on right to acquire? My housing association gave me the option recently what are my chances of getting a mortgage with the chosen mortgage providers......im a complete novice here
@SelfInvested
3 жыл бұрын
With right to buy, I know you can usually buy your home below market value which is a big plus. You just need to make sure you’re happy with the property, the service charge cost, condition of the building, etc. Make sure you read through the lease, don’t just look at it! A good first step would be speaking to a mortgage broker (check out my latest video). I will be making videos in the future about right to buy and what to look out for with leasehold properties, so stay tuned!
@AlexbatYudah
3 жыл бұрын
@@SelfInvested ok great thanks for the advise....are there any mortgage brokers you would recommend? Im in North London area.
@AlexbatYudah
3 жыл бұрын
Sorry i just saw Ken's details scap the last question. Thanks for that
@chameleongroup2019
3 жыл бұрын
Great video, Lemuel. Do check out our new homes at www.chameleon-group.co.uk
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