How To Use Equity To Buy Investment Property | Property Investing

How To Use Equity To Buy Investment Property | Property Investing | Mortgage Finance / Refinance

Рет қаралды 317,099

6 жыл бұрын

How to use equity finance (Refinance) to buy investment property
DOWNLOAD FREE CHECKLIST: yourfirstfourhouses.com/
Equity is the difference between what your property is worth MINUS your mortgage and in today's, I talk through how you can use that equity to buy investment property (Real Estate).
If you want to learn how to invest in property, or if you want to build a property portfolio of you own, be sure to download the above property investing checklist, because in there I give you a detailed list of everything I think you need to consider BEFORE buying that first investment property.
You are also welcome to download my FREE list of every property related website tool and app you'll need in your property business here: goo.gl/qtvdQb
If you're thinking of releasing the equity from your property to buy an investment property, I would love to hear from you in the comments section below
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Here's to your success... Tony Law | Your First Four Houses

Пікірлер: 481

@deejones7681 Жыл бұрын

Many years later I'm one of your long term Tenants whom put a roof over are head still with you .wish I had your advice 15years ago could still have been in my own home

@amarvirsingh-bal1883 3 жыл бұрын

Yes yes and yes - perfect content. Very succinct and straight to the point.

@YourFirstFourHouses 3 жыл бұрын

Wow! Thank you so much! 😃😃😃

@Waisterezai 4 жыл бұрын

Thank you Tony, it has been really helpful including your 50 point check list.

@YourFirstFourHouses 4 жыл бұрын

My pleasure 😃

6 жыл бұрын

Nice video, well presented. Nice pace, clear explanations.

@YourFirstFourHouses 6 жыл бұрын

Thank you :-)

@user-xz3wt8vl8c 6 жыл бұрын

All your videos are brilliant. Thanks mate

@YourFirstFourHouses 6 жыл бұрын

Hi Callum - thanks a lot my friend - very much appreciated :-)

@kingfeemer1688 3 жыл бұрын

This was exactly what I was looking for. The process explained step by step. What an awesome video man! Great content!

@YourFirstFourHouses 3 жыл бұрын

Thank you so much 😃

@farhang0077 2 жыл бұрын

Thank you. informative video, short and to point without the fluff.

@YourFirstFourHouses 2 жыл бұрын

Thank you, very much appreciated 😃

@margaretboukadia9992 6 жыл бұрын

Great advice and very.helpful. Thank you so much. Will definitely use your checklist

@YourFirstFourHouses 6 жыл бұрын

Thanks Margaret - I'm delighted you found it helpful 😃

@bradgeorge7807 4 жыл бұрын

Thank you this video is the best I've seen mate

@YourFirstFourHouses 4 жыл бұрын

Thanks so much Brad 😊

@yasirnoori4848 5 жыл бұрын

You're great, I learned a lot

@YourFirstFourHouses 5 жыл бұрын

Thank you Yasir - that's very kind and I'm glad to hear you benefited 😊

@iHDMurray 4 жыл бұрын

Extremely insightful, thank you sir

@YourFirstFourHouses 4 жыл бұрын

Thank you 😃

@telegoose9905 4 жыл бұрын

Easy to understand! Subscribed.

@YourFirstFourHouses 4 жыл бұрын

Thank you 😃

@BoboLearns 11 ай бұрын

Informative, clear, useful, great content!

@YourFirstFourHouses 10 ай бұрын

Much appreciated!

@andrewyako4837 4 жыл бұрын

Thanks for this informative video! great job!

@YourFirstFourHouses 4 жыл бұрын

Thank you Andrew 😃

@jamestonkin8610 2 жыл бұрын

Loved your video. Great clear and easy to understand information. Lovely presentation style too. Very helpful

@YourFirstFourHouses 2 жыл бұрын

Thanks so much 😃

@JJ_Acton 5 жыл бұрын

I am learning so much from this channel, thank you kindly!

@YourFirstFourHouses 5 жыл бұрын

That is very very kind of you and GREATLY appreciated 😃

@learnsomethingneweveryday1539 5 жыл бұрын

@@YourFirstFourHouses you have a wonderful presentation style. Was you a teacher

@MG-bq8rz 4 жыл бұрын

I so appreciate this information. Just what I needed. I did subscribe and saved this link🤗

@YourFirstFourHouses 4 жыл бұрын

Thanks so much 😃

@arthurjames5817 5 жыл бұрын

Great video again Tony

@YourFirstFourHouses 5 жыл бұрын

Thanks so much 😃

@MrKorobiau Жыл бұрын

Hi Tony, I have just found what I was looking for and that is a better explanation of how to release equity and purchase another property. I have subscribed and will be following your channel. Keep up the good work. Very informative. 🙏🙏👍👍

@YourFirstFourHouses Жыл бұрын

Thank you 😊

@freeworld88888 6 жыл бұрын

Nice advice.. so easy to understand. well, I'm going for it.

@YourFirstFourHouses 6 жыл бұрын

+askismy ... Than you askismy, that's very kind of you 😊

@mollyoh4675 4 жыл бұрын

thank you sir for the precious information !

@YourFirstFourHouses 4 жыл бұрын

Thank you 😊

@adrianmaycroft8406 3 жыл бұрын

This is brilliant , I’m going to get the ball rolling on this !

@YourFirstFourHouses 3 жыл бұрын

That's great to hear Adrian 😃

@j1trainer Жыл бұрын

Thank you for sharing your knowledge to teach us. Very useful and clear. 👌🏻 Thanks. Juan.

@YourFirstFourHouses Жыл бұрын

My pleasure - and thank you for your kind words 😊

@kavan8tor 5 жыл бұрын

Fantastic video! Many thanks

@YourFirstFourHouses 5 жыл бұрын

Thanks Kavan 😊

@mylittleworld6838 3 жыл бұрын

Very smart! Thanks for the lesson!

@YourFirstFourHouses 3 жыл бұрын

Thank you 😊

@annunaki2012 5 жыл бұрын

Another excellent video, Tony :)

@YourFirstFourHouses 5 жыл бұрын

Thank you 😃

@strawberry102 3 жыл бұрын

Thanks for the video!!

@YourFirstFourHouses 3 жыл бұрын

My pleasure 😊

@bayobayo3225 2 жыл бұрын

Very educative and informative

@YourFirstFourHouses 2 жыл бұрын

Thank you very much 😊

@adamday9632 4 жыл бұрын

Excellent explanation!

@YourFirstFourHouses 4 жыл бұрын

Thanks Adam 😃

@sonamathabathi5979 3 жыл бұрын

This very intricate but informative 👌🏽

@YourFirstFourHouses 3 жыл бұрын

Thank you Sona 😊

@christinej914 3 жыл бұрын

Very easy to undrestand and very informative. Keep it up sir. Thanks

@YourFirstFourHouses 3 жыл бұрын

Thank you so much! 😃

@ojelectrichvac 5 жыл бұрын

Thank you very much.

@hebwowvwhossow7829 4 жыл бұрын

This is what I call content! Love the vids, very descriptive, especially with the visual examples!

@YourFirstFourHouses 4 жыл бұрын

Thanks so much 😃

@Bluewh174 2 жыл бұрын

Great presentation.....that shows your expertise 👍👏👏

@YourFirstFourHouses 2 жыл бұрын

Thank you 😃

@mrcelestine4789 2 жыл бұрын

Thank you Tony

@hopefulfather3469 3 жыл бұрын

Thanks Tony

@SKSoaring 5 жыл бұрын

I’m a big fan. Just started doing research into real estate investment and from your videos I believe you’ve painted a very real picture. Thank you!

@TradMas 2 жыл бұрын

This is exactly what I was looking for. A simple guide for a cautious idiot 👍 answered alot of questions I had. Thank you

@isachanel2605 4 жыл бұрын

This guy is good explained the best way posible

@YourFirstFourHouses 4 жыл бұрын

Thanks so much 😃

@thisguysly6057 5 жыл бұрын

Great video well presented

@YourFirstFourHouses 5 жыл бұрын

Thank you - much appreciated 😊

@LuisMoreno-pg4cj 7 ай бұрын

Great video

@YourFirstFourHouses 7 ай бұрын

Thank you 😊

@Jameselcome_303 Жыл бұрын

thanks good stuff tony - subscribed

@YourFirstFourHouses Жыл бұрын

Thank you 😃

@HassanAli-qn1uo 3 жыл бұрын

Excellent thanks

@YourFirstFourHouses 3 жыл бұрын

My pleasure 😃

@djjjsaiyan 3 жыл бұрын

I love ur Chanel all in love

@YourFirstFourHouses 3 жыл бұрын

Thank you 😊

@bobbydelavega9425 4 жыл бұрын

Really well presented Tony - new to all this and value received right here! Thanks my friend :)

@YourFirstFourHouses 4 жыл бұрын

Thanks so much Bobby, that's made my day! 😃😃😃

@LeoLeEducation 3 жыл бұрын

Thank you

@YourFirstFourHouses 3 жыл бұрын

My pleasure 😃

@TheBitcoinExperience 4 жыл бұрын

I really enjoy your content, Tony. You have a great way of explaining complex subjects. Keep up the good work!

@YourFirstFourHouses 4 жыл бұрын

Thanks so much... GREATLY appreciated 😃

@paulgriffin2790 6 жыл бұрын

Another lovely video that is succinct and fairly comprehensive, for the simple example shown. I think you've cracked it in terms of showing the videos Tony !

@YourFirstFourHouses 6 жыл бұрын

Thank you Paul - that's GREATLY appreciated 😃

@haynesis 4 жыл бұрын

Such a pro

@YourFirstFourHouses 4 жыл бұрын

Thanks so much 😃

@khuramnasar549 3 жыл бұрын

Man I got a lot to learn

@inafricaheightdependsonhow695 3 жыл бұрын

Th8s v8deo 8s very usefull!😁👍🏻

@YourFirstFourHouses 3 жыл бұрын

Thank you... but I think you may need to get your "I's" fixed 😃

@AngeloChristianMortgage 4 жыл бұрын

Nice explanation. Everyday with my clients, I try being as detailed as possible when giving investment explanations.

@YourFirstFourHouses 4 жыл бұрын

Thank you so much Angelo, 😊

@slinkydonkey 2 жыл бұрын

Great video it is something I am considering but I guess I am risk adverse and would worry about taking these first steps!

@YourFirstFourHouses 2 жыл бұрын

I completely understand Paul, the first one is the one everyone worries about.

@DoctorAB282 5 жыл бұрын

Thanks

@YourFirstFourHouses 5 жыл бұрын

You're welcome 😃

@pontdain 5 жыл бұрын

Regarding the example, to borrow £225,000 you would need an income well above average. For example, if your lender offered you 4x your salary you would need to be earning £56,250.

@denisotto348 6 жыл бұрын

Hi Tony, Really resonate with your tips and advice. Also your reasons for entering the business full time. Your videos are very honest and thorough, especially how you are realistic about not so obvious costs and promote people to calculate their ROI realistically. Keep it going. I shall recommend and support your videos.

@YourFirstFourHouses 6 жыл бұрын

Thanks Denis - that is very kind of you and very much appreciated. Have a great weekend 😊

@yerrrboy100 2 жыл бұрын

Literally the best case scenario in every way. Lots of hurdles to over come!

@7neilk13 6 жыл бұрын

Brilliant

@YourFirstFourHouses 6 жыл бұрын

+Special NK... Thank you - that's made my day 😃

@MT19001 6 жыл бұрын

Very interesting videos! one of the very few rare ones that are clear and straight to the point. I hope you don't mind me asking about how the mortgage on the first house, which was an interest only mortgage, was paid or switched to the second house. I am sorry if i have missed anything. Thank you for your precious time.

@YourFirstFourHouses 6 жыл бұрын

Hi there - many thanks for your very kind comments... greatly appreciated! :-D I think this is an excellent question, however unfortunately, because I am not FCA approved, regretfully I am unable to give you specific financial advice and I feel this question might be approaching financial advice. With that said... Can I strongly suggest you speak to an "Independent" mortgage broker. If you Google "Independent Mortgage Broker" followed by the name of your town - you should find lots (after the adverts). Book an appointment to go and see one of them and they can advise you on the best way to proceed based on your personal circumstances. I hope that was of some help :-) All the best... Tony

@Joee-kq2yd 5 жыл бұрын

Hi Tony, great video - just regarding the equity at 5:01 on the video - will they just pay the £45,000 straight into your bank account in cash? be great to understand how this works and what other criteria needed for this to take place as it is essentially a cash loan right? ... many thanks!

@tommyjones7275 5 жыл бұрын

Hi tony im wondering if you have a video for people who are cash buyers who don’t need to have a mortgage and the pros and cons of buying with cash vs mortgage. Thanks

@YourFirstFourHouses 5 жыл бұрын

That's an interesting idea for a video... Let me give it some thought 😊

@paul-jb3dw 3 жыл бұрын

hi, at 5.01 could the maximum equity release be £75G rather than £45G? (300,000-225,000=75G) . Thanks for the video too

@paulmcquaid2940 6 жыл бұрын

Hi Tony. r.e. your episode on un-mortgagable properties. Friend of mine got a great deal on an ex council house with concrete cancer, he did a lot of research and could find no tangible evidence that concrete cancer would in reality ever be a real problem. the house it was suggested could outlive a convensional brick built house of the same era. Because the property (in Bristol) was un-mortgagable he eventualy purhased for half the marketable value of the brick houses on the opposite side of the same street!

@YourFirstFourHouses 6 жыл бұрын

Wow - that sounds like a Hell of a deal to me 😊

@fardjan2928 4 жыл бұрын

Good content. What software so you use for the visuals? Thanks

@YourFirstFourHouses 4 жыл бұрын

Hi Fard, I use Camtasia and PremierPro 😊

@michaelgood6852 2 жыл бұрын

really enjoy watching your content. quick quezzie.. why when in option 3 did you only take out a 75% LTV? You have paid the 180k previous mortgage so why would the bank not give you 300k and you end up with 120k after you have remortgaged? probably a daft question im new to the world of investing.

@TonyMontana-hg1yr 6 жыл бұрын

Great video as always! Do we need a solicitor involved to release equity?

@YourFirstFourHouses 6 жыл бұрын

Hi Tony - and thank you :-) That's a great question... Yes there will be a solicitor involved - as a charge will be put on the house for the bank.

@JoseGonzalas 5 жыл бұрын

I honest to god get adrenaline watching these videos lol. Great video thank you👍

@YourFirstFourHouses 5 жыл бұрын

Thangs JB 😊

@Addy13Gangs 6 жыл бұрын

Great content Tony. I am 23 years old currently in my final year of University but I am quickly realizing the degree I am doing is not the field in which I want to go in to when I graduate. I am swaying more towards Real Estate investment and taking my time learning what it takes to be successful in this field. I also watched your video where you stated in should only take someone 4 right properties to be financially stable which has motivated me even more. I have watched a number of your videos and they are very helpful! keep them coming as they are truly appreciated. Many thanks, Adriano

@YourFirstFourHouses 6 жыл бұрын

+Addy13Gangs ... Thank you for your message and kind words, they are greatly appreciated. I am sure your situation will resonate with a lot of 23 year olds. I wish you every success moving forwards 😃

5 жыл бұрын

The videos are very well presented and easy to understand.

@YourFirstFourHouses 5 жыл бұрын

Thank you Luxus 😊

@ioane3718 5 жыл бұрын

If you're in your final year I wouldn't say "quickly"

@dr_three 4 жыл бұрын

Hey man, its been 2 years! Im currently 23 at this time and I wanted to know your progress! I'm going head strong into this. Currently Active Duty Air Force so I have an advantage of using the VA loan with getting started.

@RubelHasson 5 жыл бұрын

Buy-to-let ownership: personal or by forming a limited company? Which one is better fora beginner ?

@YourFirstFourHouses 5 жыл бұрын

That's a great question... But honestly... You do need to ask an accountant this because everybody is different.

@planetblix 5 жыл бұрын

Very timely video, I’m working out whether to release equity from my video. I suppose the benefit of leaving equity in the property is a better interest when remortgaging therefore a lower monthly payment assuming all other variables are the same. I’m working with tight figures, so fingers crossed. I like your approach and style, very down to earth. Thanks.

@YourFirstFourHouses 5 жыл бұрын

Thanks so much 😃

@Software-update 4 жыл бұрын

really excited to start something like with property and started to watch your videos. really useful information about the property. I have a questions please 'what sort of income do we need for a mortgage and for how long you have to work and show your income?

@YourFirstFourHouses 4 жыл бұрын

Hi Abidullah, thank you for your question. Unfortunately I'm not allowed to comment on finance questions as I'm not FCA approved. Honestly, the best thing you can do is to phone an Independent Mortgage Broker and they'll ask you some key questions and then give you the answer you need. I wish you good luck moving forward 😃

@monikita333 2 жыл бұрын

The best and most informative video I have found on this subject. Thank you 🙌🏼

@YourFirstFourHouses 2 жыл бұрын

Thank you so much! 😃

@moeshafullerton8694 5 жыл бұрын

Love this video and thanks for the info. I’m 20 years old and I really want to be a property investor someday. You really motivate me, really wish I had a mentor just like you ❤️

@YourFirstFourHouses 5 жыл бұрын

Thank you Moesha... I'm sure you'll go on to be VERY successful 😊

@Slynell1 9 ай бұрын

4 years later... Are you?

@nathangray3227 3 жыл бұрын

Hi Tony is there any benefit for going for the additional borrowing option over remortgaging? Is the only downside having to wait for the fixed period to end but essentially they provide the same result? Or would you always recommend remortgage

@YourFirstFourHouses 3 жыл бұрын

To be honest Nathan, I'm not allowed to offer mortgage advice... with that said... personally is always evaluate EVERY option and see which is best at the time. I hope that is of some help 😊

@Darlington-Properties 4 жыл бұрын

*inaudible* is 'settle on a' 👍

@Darlington-Properties 4 жыл бұрын

3 min 59 secs

@rosieroutledge9879 Жыл бұрын

Very helpful! Do you provide 1-1 training?

@YourFirstFourHouses Жыл бұрын

Hi Rosie - I do indeed 😊

@Uhuss-qq6cq 4 жыл бұрын

So what do you do at the end of the mortgage when you need to pay back the initial mortgage amount???

@YourFirstFourHouses 4 жыл бұрын

I'd be very happy to run you through all of the options if you'd like to book a coaching call with me... Just go to my website to book some of my time 😊

@eezy251able 5 жыл бұрын

Great video. I have a small 3 bed with 100k equity in it. However I want to move out and rent it out as I feel the roi is good. I also want to remortage and buy my first btl? It's the capital gains and stamp duty, tax etc that puts me off? What would you do? Would you go into rented property?

@YourFirstFourHouses 5 жыл бұрын

That's funny... Lianna and I are considering exactly the same thing... We've decided to sell or place now the kids have moved out and then (Probably) buy a plot of land and build. I personally wouldn't be to put off by the stamp duty sting IF you're going to make big money on your next purchase. Good luck with whatever you decide 😃

@samiullahqahari2458 3 жыл бұрын

Thanks for a wonderful video. So once you buy the second property as an investment, do you end up owning the property in the end? Thanks

@YourFirstFourHouses 2 жыл бұрын

Yes indeed 😊

@weekender45 6 жыл бұрын

The equity I take out of my buy to let, can I then use that money to start property investing as a ltd company without paying cgt. So effectively buying another property with the equity but as a ltd not as an individual?

@YourFirstFourHouses 6 жыл бұрын

Hi Roger - many thanks for your question - it's a good one! Unfortunately there's only two areas i am unable to give guidance on... Tax & Mortgage Advice and of course this covers both 😃. This is partly because I'm not FCA approved and partly because every person is different when it comes to financial advice and so the ONLY people you should seek advice from here is an Accountant / Tac Adviser / FCA Approved Mortgage Broker. I hope that helps and good luck! 😃

@jermainsmith40 6 жыл бұрын

Another quality video Tony! You're doing an excellent job here! I particularly enjoyed this video as I plan to show it to my parents, who are "old fashioned" to say the least. I have recognised that their savings/pension isn't much to sing and dance about and my sister and I are not in a financial position to assist them....yet! So I wanted to help them with some income options as their house is paid off completely and they have equity to play with. Maybe invest in a HMO along the HS2, perhaps?? Thanks again!

@YourFirstFourHouses 6 жыл бұрын

Hi Jermain - thank you for your VERY kind words - they are greatly appreciated and I sincerely hope you manage to find a positive solution to the situation regarding your parents. Certainly HMO'S can be big cash machines - but I feel it's important to confirm there is plenty of demand in your chosen area - although I like your idea of looking HS2... Very wise! 😃 Good luck moving cards 😊

@serega4087 6 жыл бұрын

This is gold, was looking for this example long time...you can make fortune using this!

@YourFirstFourHouses 6 жыл бұрын

Thank you Sergey, that is very kind of you and greatly appreciated 😊

@yamom567 3 жыл бұрын

Great video but surely there's a mistake in your example. If you remortgage 75% LTV (225,000) the remainder is 75,000. Minus your original 20,000 deposit from the first mortgage leaves you with 55,000 of additional equity not 45,000? Please correct me if I'm wrong

@rangerstheproperteam 6 жыл бұрын

Should you put a a bigger deposit if you have it or should you take some of these 5% discount deals for first time buyers

@YourFirstFourHouses 6 жыл бұрын

If suggest that it depends. Would this be somewhere you personally want to live or is this an investment property?

@craigrigby363 3 жыл бұрын

Excellent video and excellent advice I’m currently in process of buying my first HMO investment property and this video is a perfect explanation of my current process I’m going through just subscribed and looking forward to viewing future content.

@YourFirstFourHouses 3 жыл бұрын

Thanks so much Craig 😃

@starcitizenmodding4436 2 жыл бұрын

Hi Craig im doing something similar and was wondering if you had any tips on securing a good deal with the broker. Do you explain that you want the money to invest? Whats the best approach?

@samueltaylor2757 6 жыл бұрын

Do you have any advice for someone looking to move out of parents into first house? I'm 21 and saving for a house deposit for a property that I can build equity with for a few years. Are there any videos in your collection addressed to first time buyers?

@YourFirstFourHouses 6 жыл бұрын

Hi Samuel - thank you for your comment - much appreciated. I really must do something for first time buyers - that's my oversight - I am sorry. Oddly enough - I've spent the day filming all about how to buy property WITHOUT putting any money into the deal - and I'm delighted to say that will be available around 7th September. You may find that very helpful. Other than this... You've got to buy REALLY well. Look for places that need work - or look for places where you can add REAL - TANGIBLE value. I how that was of some help? Ps. I wish I'd had the intelligence to start buying at 21! You're well ahead of the game - a huge well done. 👍👍👍

@NA-oh2ck 4 жыл бұрын

Hi Tony. Another useful video, thank you for making this content. Do you have a ballpark figure for how much we should be spending on a specialist tax advisor, for example relative to the price of the property? Also, do you have any advice on the best way to go about identifying one with suitable expertise?

@YourFirstFourHouses 4 жыл бұрын

If you can send me s quick email I'd be happy to point you in the right direction: tony@yourfirstfourhouses.com

@philipwilliams9848 2 ай бұрын

Hi, love the video and I have a question, are you still replying to this video?

@YourFirstFourHouses 2 ай бұрын

Thank you 😊

@mohammedammar5439 4 жыл бұрын

Hi tony! I'm only 18 ye young right but just want to learn and see how it is! Ill be starting uni this year and was thinking of saving my student loan for the 3/4 years and maybe being able to use it as a stepping stone for a property even if its a flat or something, just wanted to ask if that would be a realist goal and do able target in this day and age of the rising of the housing market thanks!

@YourFirstFourHouses 4 жыл бұрын

Hi Mohammed, thank you for your message. In theory, I don't see any problems with that, but of course there's an awful lot of variables that you'd need to take into consideration. I wish you every success moving forwards 😊

@user-ii8fq5tt8v Жыл бұрын

Really need sone help but stock hmo or let it out to a family

@YourFirstFourHouses Жыл бұрын

I’m really happy to have a chat if you feel I can help? I offer 45 min coaching calls and so feel free to book over if you you’d like? Www,yourfirstfourhouses.com/coaching

@ST-hc2fh 4 жыл бұрын

What are some of the risks of this strategy?

@howard8814 6 жыл бұрын

Hi Tony Really inspiring and engaging video. Could you reveal how one can raise the value of a property to boost the equity with relatively cheap quick wins. Thank you in advance.

@YourFirstFourHouses 6 жыл бұрын

Hi Howard - thanks a ton for your very kind words... after two days or scripting/filming/editing - honestly it means a lot! :-D I confess I get asked this a lot. Can I "park" your question, because it's given me a GREAT idea for a video! With that said...... a "Ligth Refurb'" doesn't (usually) add much much value in my experience. You've got to add REAL - TANGIBLE value. Keep an eye out...... I'll make that video with you in mind :-)

@howard8814 6 жыл бұрын

Your First Four Houses Thanks Tony much appreciated

@will9603 6 жыл бұрын

Isn't there a rental stress test when you remortgage in your example so it might be worth 300k but doesn't mean you can release funds. What would be your next move if that was the case?

@YourFirstFourHouses 6 жыл бұрын

Hi Will - great question! There certainly IS a "rental stress test" for buy to let properties (which varies between lenders) - you're absolutely right - however in this example, we were remortgaging our own house if you recall. There is still a criteria that needs to be met - but a residential mortgage is evaluated differently. I hope that helps - and thank you for the comment :-)

@brandonb4559 5 жыл бұрын

Hey Tony, great video. But I got a question(s)... How is it exactly that u pull ur money out? Because although I may be getting another mortgage which will cover all costs (deposit, refurb, e.t.c), it’s still a mortgage. So wouldn’t I have to keep paying for it monthly? I’m sure that if u have something like 10,000 left over from the mortgage, u can’t just put that into a bank account or another house right?

@YourFirstFourHouses 5 жыл бұрын

Hi Brandon, I appreciate this can sound complicated however can I suggest you watch the video again and it should (hopefully) make sense second time around.

@johnnyblaze373 4 ай бұрын

Forgive the rookie question, I am struggling to understand the difference between points 2 and 3 on the timeline at 3:14 "take out a second mortgage with a new lender" and "refinance the entire property with a new lender", this seems to be the same thing to me. What am I getting wrong?

@DIPU1036 3 жыл бұрын

Hi Tony, The vital information that you missed communicating is the cost of borrowing and even more important the ability to pay increased monthly interest payments. Does the increased borrowing not make you venerable when interest rates increase or if house prices drop significantly?

@YourFirstFourHouses 3 жыл бұрын

Hi Dipak. If you re-watch it you'll note my calculations were based on a very high 6% for interest rates. This is more than double what you can actually borrow for today. Needless to say interest rates could go higher than 6%, but in the example shared you were still make a decent profit at 6%, so there's a good buffer there. I hope that helps you. 😊

@DIPU1036 3 жыл бұрын

@@YourFirstFourHouses Tony delivers, again! Thanks. I was too busy writing my resignation letter to notice the 6%. 😂

@YourFirstFourHouses 3 жыл бұрын

No problem at all 😃

@melodysingers7946 4 жыл бұрын

i like your personality. And thanks for the initiative. But its not clear to me how and where in the UK market a 160K property can have £675 left after paying mortgage? Who are we renting the HMO to?

@YourFirstFourHouses 4 жыл бұрын

Hi Melody. Thank you for the question. Of course in reality this was just a generalised example designed to help people understand the basic principles involved and so naturally the numbers on a real deal in any given area will vary. They may be higher, they may be lower. As to "where" you could buy such a property... To be honest, at the time, I used a genuine example from one of my students and the property was based up North. I can't recall which specific city I'm afraid, but then this is one of my older videos. I hope that helps and I wish you every success moving forwards 😊

@donnyh3497 4 жыл бұрын

I appreciate the information Tony. We're going to look at a 2nd property tomorrow. I'll download the checklist!

@YourFirstFourHouses 4 жыл бұрын

Good luck with the viewing Donny 😊

@martyncroston7433 Жыл бұрын

Thanks for this Tony. I've got 2 years left in my 5 year fixed mortgage (15 years left on the mortgage in total). I have around £200k equity. Can I refinance this now or do I have to wait until the end of the fixed deal? I've never considered this before as I thought there were charges on the mortgage if you tried to exit the deal early.

@YourFirstFourHouses Жыл бұрын

Thank you for the question however can I please suggest you speak to an independent mortgage broker because unfortunately I can’t give direct financial advice, I am sorry.