Mortgages explained UK

Your need-to-know guide to mortgages - the basics, interest charges and different mortgage schemes.

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00:00 Introduction
00:39 The mortgage essentials
02:26 Interest charges
03:31 Types of mortgages and schemes
04:32 Mortgage jargon explained

#mortgagesuk #homeowner #propertyuk

[goodlife]

Thank you. As someone new to this, these are good clear explanations.

[DavidAlexx]

This is useful, thank you. There are so many annoying points when buying a property, but I guess I just have to accept things for the way they are 😂 If I mortgage, I feel like I need to find the longest fix rate scheme they have to protect myself from rising prices - I only want to buy an apartment or something similiar in the £50-90K bracket because I might be able to pay off the property within 10 years 😅 I hope I can pull it off in the future, I feel like it's so risky investing in a house for 20+ years

[joneeparka]

kudos, for making mortgage looks so simple to understand🎉

[ChimobiHD]

American here - It's crazy that you can't get a fixed interest loan for the life of the mortgage like we do over here with 30year fixed rate loans. Sounds like a scam to me. Also, why would anyone want an interest only loan for a primary residence, I'm so lost. I hope you guys can lobby for 30year fixed rate loans. Great video!

[monkeyportions]

Good info! Quick question if you can help...With the buy to flip loan, would it be negative equity if the loan + interest borrowed was more than the value of a property once renovated and how would someone go about buying a 2nd home to renovate and sell if that were so?

[flpsan]

Thanks, for the next time: music should not be louder than voice.

[folkmoot]

Banks are not in the business of lending money, they are in the business of securitising debt. They do not lend any money, the borrower borrows the money into existence. The mortgage deed is treated as a species of money and is securitised and sold on.
The worlds leading authority in banking Pro Richard Werner as shown this in his empirical studies of the banking industry.
These facts are not disclosed to the borrower.

[evka]

What’s with that music…we r learning….we need silence in background thank you

[aravind]

Hi, I recently got a mortgage offer from Halifax, and the exchange of contract is finished, there are a few months to go to get the completion done since this is a new build house. I recently found out there is a huge difference between the Outstanding amount remaining after the Fixed term, for a different mortgage term like 25y or 29y. I would like to ask my Bank to reduce the term before the Mortgage starts, would they be ok with it?

[richsamuel]

American here... I've heard in the UK one is not allowed to pay off their mortgage early. True or false?

[MrLUISRAUL]

Very good video, just bit of feedback, lower the music in the background as it covers your voice too much

[buddleiabee]

interest rates are at over 6% now. I'm so confused after going to my bank for 100, 000 mortgage & it said I could potentially pay back 600, 00 over 25 years. Why would anyone take out a mortgage if it costs 6x the value of the property. Such a scam.

[Drew_offical-xbhk]

Being 16 i would of neevr thought i'd be sdat here learning aboutall this so im prepared for the future as well as understanding credit score insurance taxes the rest never thought i'd be motivated to learn this stuff that i would call boring lol

[Sam-uerv]

Hello quick question which wont be quick.

Say I'm buying a house worth 500k

I put down 100k

I work earn 25k a year

Would they give me a mortgage or I dont earn enough?

Let's say I pay £250k deposit I have saved up?

On 25k a year?

[georgiangelov]

Hi how to reduce the value of my property? I have help to Buy and I want to reduce the value of my property. I'm thinking to install solar panels and battery on credit do you think this will help thank you