Charlie, all valid points. I think one thing that is never mentioned anywhere about Mortgage in principle is that even if you have it and it is still in date (usually 6 months) you must understand that it is affordability check only as at the time of its issue. We are in times that rates change all the time, and have drastically changed in last 6 months. Too many ppl think that they can afford what DIP says and towards its expiry and when they have offer accepted and apply for an actual mortgage, it turns out they cannot afford what they thought because the rates changes shrank their affordability.
Many times the estate agent is the main issue with a house sale, too many inexperienced agents out there and far too many agents, I can see many closing during this downturn
Agree 100% with what he is saying, agents are on the same level as car dealers. Be tough when you go into and see an agent, remember buyers are not locked in with an agent if you don't like one go to another. If you are looking for a place look at several and target a few so you can walk away and move to the next one. Buyers are powerful and agents know that.
Seem to be seeing more and more estate agents removing a listing and then adding it to Rightmove as a brand new listing seemingly to not show that it's been sat on the market for 6+ months at that exact same price...
Charlie, it is probably more likely to happen in a buyers market but maybe worth mentioning as a warning, a few years ago I had a friend who did not get their offer passed on to the vendor by the estate agent. My friend wanted to use their own conveyancer, and not that recommended by the estate agents, as that conveyancer was known by them to be rubbish. The estate agent did not want to loose their commission from the referral so told my friend their offer had been refused. The offer was very near the asking price and my friend had even said the vendor could have the incentive bonus being offered to her as the prospective purchaser. My friend only found the offer was never passed on by chance, because they later went to view the property next door which was on the market with a different estate agent. My friend mentioned they had put an offer on the property next door but had it refused so was surprised to see the first property still for sale. As a result they found out because the owner of the first property had told the owner of the second property they had not yet received an offer! I guess something to be aware of.
In which case I hope your friend approached the first homeowner and made an offer to them directly. Never use a tied conveyancer it's a very cozy relationship between the conveyancer and estate agent so no incentive to give a good service
Hi Charlie. we are very likely to need your services soon as returning expats (28 years away), so in essence, a 1st time buyer once again in todays UK property market. We're not sure what to do for the best, rent or buy (cash buyer), although buying is preferable so we can get settled quicker and not waste £'s on rent - we're no spring chickens anymore. Our old home is Herts. which is still very, very pricey. Any advice? Ooh, just seen you have reached 17k subscribers, congrat's.
Just had our mortgage in principle renewed today. Gone from 4.1% to 7.45%. And lender only prepared to lend on a property value of £315k....originally £350k. Bit of a shock to the system
I’ve always said; find your own that you trust, and IF you can’t or don’t have time, try my guys. And yes obviously I get a standard referral fee. (Do you know anyone who provides free advertising? Please let me know who!) I have bills and salaries to pay like everyone else. I’ll never understand why anyone things anyone would work for free. The advice is all free though! Hope it helps.
As a fellow Sussex resident, I find your videos very interesting. Women good advice here. I’ve worked in the industry for over 20 years and never have I seen it so ‘variable’. It’s almost impossible to forecast anything.
Oh how I wish I’d seen this 2 year ago . I was a cash buyer £470,000 ,my conveyance Solicitor had all the funds in there acc: and went on 2 weeks holiday didn’t tell us ,and didn’t exchange before she went. We lost the House . Still haven’t got over it
Hi Charlie, really insightful video, my partner and I recently followed your advice and made an offer on house. The house was listed as in excess of X and we offered X. The same day the estate agent contacted us saying that the seller would only accept the offer if we pay the estate agency fees. We’re both FTBs, is that unreasonable?
That's outrageous! No, not reasonable at all. The sellers is the agent's client. If you pay the fees, that makes you the client, and changes the conflict of interest situation completely. I'd say a hard no to that. It's X or you walk!
Awesome video. 1 Question. I am 2 hurdles away from buying. 1 selling my siblings shared house, 2 getting a second job but I have an interview and looks very promising. I have found a place 2 mins from where i work and is suitable for me. Are you saying I can buy a a property search pack from the estate agent and would this be a wise move considering it is only a possibility of buying tis property? It has been on the market for some time so I can imagine it being around for a while longer.
You can buy a Property Search Pack, but not from the estate agent. You can buy it through a conveyancer, or through me on the link below. However, I'd advise you talking to an independent mortgage broker first to make sure you have your finances properly prepared! Property Search Pack link: mhwc.c.o.uk/property-pack
l am looking to change from 3 bed detached house , to a 3 bed detached bungalow no mort, I am 78 yrs old advise me ,Merseyside ,impressed with you, bless you
1. Find a conveyancer you trust. Don’t go cheap. Ask them what’s needed to become “contract ready” 2. Talk to as many agents as possible until you find one you feel you can really trust 3. Don’t be seduced by over valuations of your home. Look for realism! Good luck 🤞
Charlie, hi, very interesting. The offer via email is great. Can I negotiate on a new build final and only offer below the asking price, and can I go below the asking price and by how much.
You can negotiate on anything! You may or may not be successful. But it's the best time for buyers to be negotiating in years. Make the most of it! Only you can work out what you think is your maximum comfortable price. Don't go above it, and walk away if it's not accepted. Good luck!
Never reveal your top amount you're willing to pay as estate agents will automatically only show you properties at the top amount. This gives you the ability to see what there is at the lower end of the scale. You may find that you don't need to spend every penny on the property and it gives you some wiggle room for payong fees, stamp duty and and renovation costs.
Mortgage brokers are useless tbh... if you can't buy with a major lender then don't buy a house, PERIOD! Save some more money and get into a stronger position, then BUY. Don't be in a rush, buying is not everything. I've seen some people go from 550 per month rent to 1200 per month mortgage for 35 years! WTF! How are you better off with this situation. I was actually told this by a very honest mortgage broker by the way, since she said that they wouldn't be able to beat the rates offered by the major lender. End of the day too many people making too much money out of this game, it's BS lets be honest
Still not seeing this crash, really. A few discounts of 2-5% here and there, but these are discounts on vastly inflated prices. For example, there's a house in my street (south of England, 1½ hrs by train from London) on for 33% more than it was bought for in 2019. Even a 5% discount on that would leave it over 26% more expensive than only four years ago.
This is what I have found Charlie since coming back. In NZ buyers and sellers will always already have contacted a mortgage broker, solicitor etc. I never had to rely on this as extra income. All my fees came from the sale of the property as we charged a good percentage rate. No need for extra income. What I am finding is that I am being told that you can get this and that if you push this that to buyers or sellers. To tell you the truth, I am not comfortable with this.
Maybe a video about what kind of information's the estate agents are entitle to ask buyers because when you call them and you just want to see property they interrogate you like priest during the confession nearly asking how many times and with whom ? and size of your underwear - I do not belive that they have right to this ?
Charlie, all valid points. I think one thing that is never mentioned anywhere about Mortgage in principle is that even if you have it and it is still in date (usually 6 months) you must understand that it is affordability check only as at the time of its issue. We are in times that rates change all the time, and have drastically changed in last 6 months. Too many ppl think that they can afford what DIP says and towards its expiry and when they have offer accepted and apply for an actual mortgage, it turns out they cannot afford what they thought because the rates changes shrank their affordability.
Morning Charlie.
Really appreciate these videos as an upcoming first time buyer. Your channel is a goldmine.
Lol blue Peter badge but on a serious note you should be featured on TV if you have not done so already
Many times the estate agent is the main issue with a house sale, too many inexperienced agents out there and far too many agents, I can see many closing during this downturn
Agree 100% with what he is saying, agents are on the same level as car dealers. Be tough when you go into and see an agent, remember buyers are not locked in with an agent if you don't like one go to another. If you are looking for a place look at several and target a few so you can walk away and move to the next one. Buyers are powerful and agents know that.
Seem to be seeing more and more estate agents removing a listing and then adding it to Rightmove as a brand new listing seemingly to not show that it's been sat on the market for 6+ months at that exact same price...
Charlie, it is probably more likely to happen in a buyers market but maybe worth mentioning as a warning, a few years ago I had a friend who did not get their offer passed on to the vendor by the estate agent. My friend wanted to use their own conveyancer, and not that recommended by the estate agents, as that conveyancer was known by them to be rubbish. The estate agent did not want to loose their commission from the referral so told my friend their offer had been refused. The offer was very near the asking price and my friend had even said the vendor could have the incentive bonus being offered to her as the prospective purchaser. My friend only found the offer was never passed on by chance, because they later went to view the property next door which was on the market with a different estate agent. My friend mentioned they had put an offer on the property next door but had it refused so was surprised to see the first property still for sale. As a result they found out because the owner of the first property had told the owner of the second property they had not yet received an offer! I guess something to be aware of.
In which case I hope your friend approached the first homeowner and made an offer to them directly. Never use a tied conveyancer it's a very cozy relationship between the conveyancer and estate agent so no incentive to give a good service
Good video again. The bit about not worrying showing the estate agent proof of funds was reassuring for me.
Charlie I hope you are getting better.
Wish you health ❤
Hi Charlie. we are very likely to need your services soon as returning expats (28 years away), so in essence, a 1st time buyer once again in todays UK property market. We're not sure what to do for the best, rent or buy (cash buyer), although buying is preferable so we can get settled quicker and not waste £'s on rent - we're no spring chickens anymore. Our old home is Herts. which is still very, very pricey. Any advice? Ooh, just seen you have reached 17k subscribers, congrat's.
Amazing video. Would love a part two
Really helpful thanks, new points taken on for sure!
Just had our mortgage in principle renewed today. Gone from 4.1% to 7.45%. And lender only prepared to lend on a property value of £315k....originally £350k. Bit of a shock to the system
Ouch. That has massive implications. Only significantly lower prices can offset that jump. Good luck
Charlie , could you be transparent on whether you receive any referral fees for ‘your guys’ i.e. your mortgage brokers/conveyancers/search packs
If you click on the link in the bio he says he gets a commission for anyone that purchases from them.
A little too hidden for my liking especially when the video attempts to give transparency to the buying process . Comes across as hypocritical
I’ve always said; find your own that you trust, and IF you can’t or don’t have time, try my guys. And yes obviously I get a standard referral fee. (Do you know anyone who provides free advertising? Please let me know who!) I have bills and salaries to pay like everyone else. I’ll never understand why anyone things anyone would work for free. The advice is all free though! Hope it helps.
Man's got to eat
As a fellow Sussex resident, I find your videos very interesting. Women good advice here.
I’ve worked in the industry for over 20 years and never have I seen it so ‘variable’. It’s almost impossible to forecast anything.
Do I need to make sure that the deposit was there in my bank account for 6 months to apply for a morgage.
Helped me right out know exactly what to do now 😎
Oh how I wish I’d seen this 2 year ago . I was a cash buyer £470,000 ,my conveyance Solicitor had all the funds in there acc: and went on 2 weeks holiday didn’t tell us ,and didn’t exchange before she went. We lost the House . Still haven’t got over it
Hi Charlie, really insightful video, my partner and I recently followed your advice and made an offer on house. The house was listed as in excess of X and we offered X. The same day the estate agent contacted us saying that the seller would only accept the offer if we pay the estate agency fees. We’re both FTBs, is that unreasonable?
That's outrageous! No, not reasonable at all. The sellers is the agent's client. If you pay the fees, that makes you the client, and changes the conflict of interest situation completely. I'd say a hard no to that. It's X or you walk!
Awesome video. 1 Question. I am 2 hurdles away from buying. 1 selling my siblings shared house, 2 getting a second job but I have an interview and looks very promising. I have found a place 2 mins from where i work and is suitable for me. Are you saying I can buy a a property search pack from the estate agent and would this be a wise move considering it is only a possibility of buying tis property? It has been on the market for some time so I can imagine it being around for a while longer.
You can buy a Property Search Pack, but not from the estate agent. You can buy it through a conveyancer, or through me on the link below. However, I'd advise you talking to an independent mortgage broker first to make sure you have your finances properly prepared! Property Search Pack link: mhwc.c.o.uk/property-pack
l am looking to change from 3 bed detached house , to a 3 bed detached bungalow no mort, I am 78 yrs old advise me ,Merseyside ,impressed with you, bless you
1. Find a conveyancer you trust. Don’t go cheap. Ask them what’s needed to become “contract ready”
2. Talk to as many agents as possible until you find one you feel you can really trust
3. Don’t be seduced by over valuations of your home. Look for realism!
Good luck 🤞
I like this guy :)
Very good video👌
Charlie, hi, very interesting. The offer via email is great. Can I negotiate on a new build final and only offer below the asking price, and can I go below the asking price and by how much.
You can negotiate on anything! You may or may not be successful. But it's the best time for buyers to be negotiating in years. Make the most of it! Only you can work out what you think is your maximum comfortable price. Don't go above it, and walk away if it's not accepted. Good luck!
Charlie..... do you know why PIE haven't uploaded their weekly stats show for last week yet?
nope - will find out!
@@MovingHomewithCharlie cheers 👍
Never reveal your top amount you're willing to pay as estate agents will automatically only show you properties at the top amount. This gives you the ability to see what there is at the lower end of the scale. You may find that you don't need to spend every penny on the property and it gives you some wiggle room for payong fees, stamp duty and and renovation costs.
Everything you say is true...its happening in EVERY industry .... thats why house prices go from owned to bank rental in 2 years max
Morning Charlie
Mortgage brokers are useless tbh... if you can't buy with a major lender then don't buy a house, PERIOD! Save some more money and get into a stronger position, then BUY. Don't be in a rush, buying is not everything. I've seen some people go from 550 per month rent to 1200 per month mortgage for 35 years! WTF! How are you better off with this situation. I was actually told this by a very honest mortgage broker by the way, since she said that they wouldn't be able to beat the rates offered by the major lender. End of the day too many people making too much money out of this game, it's BS lets be honest
My broker has found me a better than high street deals for the last 10 yrs. I would have never got such good deals without him.
Still not seeing this crash, really. A few discounts of 2-5% here and there, but these are discounts on vastly inflated prices. For example, there's a house in my street (south of England, 1½ hrs by train from London) on for 33% more than it was bought for in 2019. Even a 5% discount on that would leave it over 26% more expensive than only four years ago.
If they’re not selling that tells you everything. Also you’ll never “see” a crash until after it’s happened, because it’s more of a slide.
Crash won’t happen people are expecting it, still think we’re years away from
This is what I have found Charlie since coming back. In NZ buyers and sellers will always already have contacted a mortgage broker, solicitor etc. I never had to rely on this as extra income. All my fees came from the sale of the property as we charged a good percentage rate. No need for extra income. What I am finding is that I am being told that you can get this and that if you push this that to buyers or sellers. To tell you the truth, I am not comfortable with this.
Avoid the trap and buy from 2025 onwards😂
Maybe a video about what kind of information's the estate agents are entitle to ask buyers because when you call them and you just want to see property they interrogate you like priest during the confession nearly asking how many times and with whom ? and size of your underwear - I do not belive that they have right to this ?