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The Reality Of Owning A House In The Uk. Buying Vs Renting A house in the UK.
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- Опубліковано 4 сер 2024
- Buying Vs Renting A House In The Uk, The Real Situation Of Things.
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thank you Tochi. you always make my day. Ur sessions are always lively
Thanks Tochi and family, The young and handsome interpreter is doing a great job 👍❤️
The good sides out weighed the bad sides, thanks for sharing guys.
Beautiful family.Thank you for sharing this is really an eye opener especially on the one for the neighbor.
Thank you for watching
Thank you Tochi, I just moved into the UK. I hope to buy a house when I finally settle down, find job and can afford it. It's a very good option.
It's a good thing to buy a house especially if you have children. A house bought in the 1990s in London for around £70,000 and 30 yrs later, it costs about £270,000-300,000. So for the children they'll get quite a lumpsum when they inherit the house.
Prayer is important. God can move people without you having a hand in it as such. Stay blessed. Zim/UK.
Thanks so much Tochi, Your Hubby and Baby
God Bless you more richly to more houses
🌸🌺🌷🌷💐
Amen, thanks so much
Thanks guys, your are spot on.
One other downside is the risk of loosing your house if you can’t afford to pay your mortgage if you loose your job or get sick and unable to work.
To mitigate this, save an emergency fund to cover your bill for 6 months, take out the right insurance to protect you and your assets.
Good advice, a six-months emergency fund is good. You never know when things can change.
Good advice. Critical illness cover and mutual trust for d kids are very good insurance. Mutual trust is attached to life insurance.
Well said. There are also insurance arrangements that can mitigate such circumstances if one can't unable to work due to illnes it some sort of loss of income. We'd definitely going to share those soon
@@TochiEsther Needs
Thank you for the information.
Please can you talk about the 8-10 years government protection scheme on your house.
nice content ! i do not see serious drawbacks in this video at all, own a house it is important...
Very Clear and informative. Thank you tochi and your husband.
A real eye opener. Thanks for the great information shared here.
I Feel like the only down side I always feel about buying a house despite the location is that it makes u stationary. and also talking about repairs even here in Nigeria u will fix things urself oo except In an organized estate.
The neighbor con is understated. Very important point to note. Prayer is the key sha
Very very important
Many thanks guys.
Awww He is growing up so fast 🥰 .. Awesome video
Thanks 😂😂 yes he is
Beautiful 👶 😍 People....
Thanks ❤ 😊 FOR Sharing ❤ this...!!!
We are waiting!
thanks for giving us back to back informations ! ok; now, buying a house is much more better than renting because at the long run. every dime you pay as motgage is like investing in your home! in our house in germany, anything that gets damaged , we fix ourselves!
🙏🙏 thanks dear for watching
I love this topic, thank you for sharing your experience, Ma. you did not tell us oga's name. Your son is handsom
Bad Neighbours are a big deal ooo. One might not realize how much of an issue it can be until you’re in that situation. Thankfully, you’re enjoying your home.👍🏻
Yeah, Neighbors are very important o. Thanks for watching dear
Beautiful content, na dat bad neighbourhood own goworry😆, but God will help us meet like minds. Pls I need step by guide for family relocation 🙏
You are not tired to a particular place, all you need to do is tell an estate agent and they will rent it out for you. The proceeds from the rent is used to pay the mortgage and then you move! 😅😊😊 You didn’t think of this, did you?
Thank you for this video ooo🤝🤝🤝some people willll be waiting for the landlord to fix every damn thing that spoils in the house. Whether you are paying rent or living in your house,maintain it well and make it comfortable for the next person moving in.
True my dear, it always good to keep a house in good shape
Waooooo...
Very very informative 👏....
Waooooo...
Nice one my people
Thank you for watching
thank you so much ma for what you do, I learn so much on your channel. I and my husband are considering relocating to the UK
You're welcome, thanks so much
I actually understand the baby's talk better than you both. He was so clear, precise and less serious than you guys. Thank you baby for making the video special 😃😊
🤣🤣🤣🤣
🤣😁🤣🤣🤣
😂😂😂
Mean and you know you are not saying the truth
Lollll
Owing a house makes you credible before the financial institutions
Good wife gives her husband audience and the husband also reciprocates such a beautiful couple..... thanks
Your son is handsome. Welldone sis
Really enjoyed the video with baby boy oo
😂 Thanks for watching
the benefits is really great.
Let's hear from your baby too his experience owing a house in UK... Weldone guy
love the honest breakdown of this🙌😘
Thanks dear
The neighbour part is important. Never crossed my mind. Thank you guys
The neighborhood should be one of the first things on your mind.
@TochiEsther very informative video. Which area did you buy your property as it sounds like its new build? Is it in multiple phase(s) as part of larger development. How is the road infrastructure and growth planned in the area? For example how close is it to the train station and what Motorways. Any information will be helpful 😊
I am an investor and i am looking to increasing my portfolio outside london but in areas that have go growth prospects in the medium to loglng term.
Nice one. Special thanks to the THREE of you for sharing 😄
🤣🤣🤣. Thank you for watching
Wow I never thought of the neighbour part ooo
Nanelle 😊 🫂
Very very important o
What you didn’t talk about is free hold vs leases hold and how leases hold could be tricky.
Ummm Tochi..... your face...kkk too serious lol, I'm used to watching your videos with a cheerful smile ,what was happening, anyway thanx dearest for the info
Hehe 😂 you'd see my smile in my next video dear
Thank you guys
I enjoyed watching this video thanks for sharing NEW Sub
Wonderful one and very helpful, but please, is one allowed to fence your building right round, at least that way, you will have your privacy and stay away from the eyes of neighbours, you have a beautiful family Counsel, God bless your home
I'd like to know too
Building and extending your house most times would require permission from the council and town planning. So check with your local council
Please what was the original down payment and the monthly mortgage, and what kind of house is it? I know you may not want to give out the financial information publicly, but can you give it in a range so it's not specific. I also don't know where you are in the UK, I'm hoping to get one in Edinburgh
Hi Tochi.
Thanks for your videos. They are so enlightening.
How soon can one, who moves to the UK in this September on a study visa route, buy a house in the UK?
I mean how soon will that individual be allowed to own a house by the UK laws?
@@ifeomat.615 there is no limit. prove how you got your money, prove you have a job that can pay for the mortgage, and most important: your credit rating / score. your credit score is actually the first step
How many years or months do one have to stay in the UK to be opportuned to own a house
Many thanks for the Video Esther and your husband. My question is how much house tax are you charged by the UK Govt for owning the house?
The UK government doesn't charge us any House tax dear.
Nice plan and it means u are not paying rent, u guys are just using ur rent to pay for the house
I have my pen and paper taking notes 📝
Thank you Nanelle
I think before one can resale their house only when they are done with the mortgage payment right? It's great to Owe your own house in UK and take fu responsibilities. I like the 2 years warranty. For your neighbourhood to have a WhatsApp group and do things in common, una no dey UK again o lol! Lucky you guys
Thanks dear we're really lucky with our neighborhood. You can sell at any point you don't have to have repaid the whole mortgage. When you sell you'd pay the balance in full from the proceeds of the sale.
@@TochiEsther That's awesome. Though Nigerians would hardly sell their house instead I would rent it out if there's need of me moving to a far location lol
If the house increases in equity, you can resell and take the profit. The profit from the sale of a residential property is also free of capital gains tax. Or you could remortgage and use the profit as a deposit on a rental property
Additionally if you do remortgage you could remortgage on to a buy to let product and let out your property. You can then use the money you get to buy a new home of where the costs make sense and suit your needs.
❤ your son did an awesome job with the background music😂😂. Great info
😂😂
Awesome
Thank very much for this great information, great job 👌.can you buy a house when you are not a citizen of the country, please let me know, thanks have a great day ahead with your lovely family 🥰.
Yes, they are not citizens but they have a house.
Wonderful couple. That's all I can say.
Hi Tochi, you mentioned if you are cooking and something spoil, there is content insurance to cover these things 😊
Yes we have contents insurance. There other insurance too that you can have to fully protect your property
Are these property insurance easy and affordable to access?
Honestly UK is far better compell to my country Italy 🇮🇹 when it comes to owning a house ,your own come with lots of benefits our own comes with lots of pay pay and frustration. Thanks.
Sis, I don’t even understand why the system is like that.
Tochi thk u🥰
I think it would’ve been good to mention comparison with Nigeria. In UK mortgage can take 35 or even 50 years lol. But back home once you build your house it’s yours. Even mortgage duration is shorter. I know the value is not same though.
Add property taxes.
It’s only your son we are even listening to, he is our concern ❤️❤️❤️❤️
😂😂😂
@@TochiEsther hi tochi
Hi dear, looking to buy a house in crewe but not so familiar with the area. Please can you make any recommendations for best areas to buy for family? Thanks
I think you can live anywhere in Crewe, people mostly prefer to live in areas close to their work place or children’s school
But does buying of the house includes the appliances too ,does the mortgage covers for the appliances too
Congratulations to your family
But i don't see any bad side here dear
How long should you be in UK before you can buy a house thanks
Hi Tochi,can international student from Nigeria buy or mortage house in Uk
Which area did u buy in, thanks for the information
Thanks for all you do. Alot of information has been made available to us through your channel. Please do you know if an international student can get a mortgage, if he has the down payment to pay? Someone has saved up a reasonable amount of cash in his country and wants to move to UK through the education route for a Masters Degree, but he has sufficient cash to put down for the down payment. Can he get a mortgage?
This is a valid question that I am interested in
Alright I'd do a video about it. It's not a straightforward answer
@@TochiEsther ok. Thanks Tochi, I look forward to that video. And I know some other people will be interested in this information.
Hie Tochi howu dear?Sorry to bother,this isn't about buying a house in the UK but would kindly be honored if l can get a review from u if my cv meets up with UK standards.I am a hca trying to look for a job in the UK
May I know which lender gave you 1.85% interest rate a year? Very informative video, thanks for sharing your insights
Thank you very much. It’s Barclays but that was 3years ago
You won’t be able to find that interest rate now. Make sure you get a fixed rate so that you can plan and budget. Don’t over extend yourself in terms of your mortgage as mortgage rates won’t go down as low as Tochi’s again.
In 1980s the interest rate went up to 15-18% and many people could not afford to pay their mortgage and they lost their house.
Congratulations on buying Yr house since you have children. We bought in ireland at 280000 ,now my neighbour sold hers at 500000 euros. At the end the value increases compared to cars.And moved and bought another house in the country side.but remember guys to put more on yr deposit so that you don't strain Yr self.we are planning on our 3 .
English neighbours neighbours don’t like loud noises or loud music. Often cultural differences causes problems. Consider you could be the bad neighbour with frequent noisy parties!! So be considerate too.
Thanks fo helpful info and insight.May I know pls if owing a house in the UK counts towards indefinite stay or permanent residence.
@@MrRuufman Thanks
No it doesn't count o
Please let us know if u buy a house over there u buy with the land or only the house..Secondly dos house has an expiring date bro we want to know .Thanks.
How many years will it take to pay the mortgage?
What type of visa do you need to be on to be eligible to buy a house apart from being a permanent resident
As long as your visa gives you the right to live and work in the UK you can buy a property on mortgage if you meet the lenders criteria
@@TochiEsther what about student dependent visa , is it allowed
@@giftkenyunusual2616 student is not allowed to own a house in UK.
Hi Tochi which part of england do you live?
I think she once mentions Cheshire, but don't quote me😀
Hi Tochi. Thanks for all you do. I'm a loyal subscriber. Your hubby looks like an old classmate of mine, EBSU...am I right?
Thanks. Yeah he studied in EBSU
Tochi please make a video, about opening a business in uk
👍 yes I support this!!
Would do dear
@@TochiEsther I’m not talking about the video you made about side hussle bcos u never talked about if one will need to be registered b4 starting e.g d catering side hussle you mentioned.
@@jessicawest224 ok, would do
Thank you you can help on below questions
Thot you could take us along how you served in your savings account to get the mortgage, and clear up on stages to achieve the house
Can't you rent out a house on mortgage? Must you sell it if you want to change location?
You can rent it out if you want but there is a different kind of mortgage you would need if you want to rent it out instead of occupying it yourself
You can do house exchange!!!
I currently live in my own 5bedroom house in Nigeria. Built to high taste and all. When I looked up 5bed houses in near London (where I might be relocating soon) I saw options from 2million GBP upwards! Can’t afford that. Am I missing anything? Should I be looking elsewhere?
No cheap 5 Bedroom house in/near London but not 2M! You can get 1M in a good area
Do you still have to pay council tax if you are living in your own home?
Yes you have to
It is too early for you to really understand , house values does not always go up to create wealth.
Please you did not mention anything about tax,, do you pay tax for the house? Secondly, does it cost more to own a house or rent a house? Looking at it at the long run let's say 8- 10 years. Thirdly what are the immigration benefits of owning a house or a property in the UK???
There is no recurrent property tax for home ownership in UK as far as I'm aware. But there is something called Stamp duty. Now that's paid during purchase but there is a price the house must be up to pay that. And if I recall correctly first time buyers may have some considerations. However we didn't pay that.
@@TochiEsther First time buyers pay stamp duty after the first £300k. For instance, a house cost £375,. first time buyers will only pay stamp duty on £75k not on the whole £375k.
1.85 % that is a steal. very good rate.
Yes it is but at the time we got it, wasn't strange now interest rates are crazy
Pls how long does one need to live in the uk to be eligible for a mortgage! Is there a specific duration
Theres no specific duration but i ll advice atleast 2yrs from your arrival provided you re able to secure a well or average paying job also manage your credit profile strictly cos in UK your credit is your life as a matter of fact it comes first before your ILR or BRITISH CITIZENSHIP if you know what i mean by that.
You need a certain score on your credit report before you could be considered even if you have your deposit .
Overall...i lld say try and be in the system for atleast 2yrs minimum.
If you have further questions..pls do ask 👍
@@kunlele07 thnks a million , ok I have seen Tochi videos on credit score ! I should work on building that … thanks 👍🏿
You need to have Legal papers to live and work in UK, Proof of Stable income and Good credit history.
Hi Tochi,
There is a need to house clean your telegram group, people are posting whatever and whenever. Kindly reach out to me for how to manage this.
Thanks
How do you mean please?
@@TochiEsther I will drop you a PM on telegram with the necessary info
Please Tochi, like how much can I have I have to buy a house?
@ Folake lt depends on how much the house cost, so you pay a deposit of a certain percentage then you pay monthly for some years lt depends on how much deposit you paid less deposit you will pay for so many years before lt become your own house completely.
Please can you help me secure one 3 bedroom.
How long will they give u to complete the house money
300k house, you need deposit of 10% 30k, the rest is on mortgage for 25 years... Monthly repayment could be 1500 (interest included)
blc am thinking of getting my own place
What part of Uk do you live, please. I'm so happy for you. Long live. God will take you beyond in Jesus's name, Amen
Can you own more than one house at a time in the U.K
I need working visa how possible will it be
After buying a house in an environment and I want to change environment after sometime, is it compulsory I sell? Can't I leave the property and go buy another and rent the previous one out
You can decide to keep it and rent it out. It's up to you and also note you'd need a different kind of mortgage for a house you intend to rent out so your affordability for two mortgages would be something to think about.
Wow Dozie and wife, this is good
To all african people Stop saying that you buy a bouse stop it if you didn't buy the hous cash in full payment its not urs you rent that frikin house how can you people buy a house ? And still paying monthly payments 😮😮😮. Its a scamm. There is so many red flags with that house you would not believe its a setup getting a house abroad. Its stressful fatigue if the monthly payment was $1,200 later on ur paying more.
Pls my sis which city do you live pls
Crewe Cheshire
As a married couple, if the partners decide to buy a house as an individual entity will both be consider first time buyers?
Yes
😀 😀 😀
Ins't it better to pay your own mortgage then your landard