3 Ways to Easily Acquire A Mortgage | Touchstone Education


– Hello, Paul Smith here, and I hope you are very well and welcome to this
edition of Money Matters. (upbeat music) Many people say to me, I’d
love to be a property investor, but, you know, it’s kind of hard and I’ll say, why is it hard? And they’ll say, well,
I can’t get a mortgage. Hmm, okay. And, when I kind of dig
a little bit deeper, it’s not they can’t get a
mortgage, the actual truth is, they’ve assumed they can’t get a mortgage. So I wanna give you a few examples of how you could get a
mortgage and how easy that is. So let’s start with a young person. And let’s start with a young person that’s maybe decided they’re
gonna further their education by going to university
and they’re gonna come out with a 50,000 pound student debt on them. Really? Okay. Well, let’s personalize this. Let’s talk about my own 18
year old daughter, Lydia. She’s just gone to university. Now most people, most
students, most parents, will assume that 18 year
olds can’t get a mortgage, they’re gonna get
saddled with student debt and probably when they come
out in three, four years time, they’re gonna owe 50,000 pounds. That’s the, kind of,
normal set of assumptions. Did you know you can
get 100% student loan? Did you know the student, therefore, doesn’t need a deposit? Did you know that you, the parent, me the parent, can act as a guarantor? For 100% student loan. Now where Lydia’s going, she can get a three bedroom
flat for 60,000 pounds. Okay, it’s the west of Scotland and it might be the same price everywhere, but many parts of the
UK, they still will be, northeast, northwest, just saying, Wales. So she gets a nice, and that, by the way, is a flat that’s less than 10 years old, so it’s still an NHBC guarantee
and all the rest of it. She’s already done a year in halls, ’cause in Scotland, they
do a four year degree, not a three year degree. Start at 17 and you know, whatever, so it’s slightly different. So she’s just paid 496 pounds a month for a halls residence for a year. That’s what her friends expect to do and all her friends are now moving out to pay for 496 pounds a month, sharing flats and doing whatever else. So Lydia is currently shopping for a flat. She’s gonna get a three bedroom flat and she’s gonna put two of her friends in the other two rooms and her mortgage, the mortgage rate, is
gonna be around about 3%. So it’s 3% on 60,000 pounds, I’ll do the math for you,
don’t worry, don’t panic, is 1,800 pounds a year, divide
by 12, is 150 pounds a month. So she can get a three bedroom flat for 150 pounds a month as a landlord. She lets out the other two rooms
and brings in 1,000 pounds, she’s just made a profit
of 850 quid a month. Student debt, I don’t think so. I think, the reason people
get into student debt, is because they don’t know how not to. They’re getting very educated on engineering or French or something, but they’re not getting
very educated on money. So, young person can’t
get a mortgage, nonsense. I got my first mortgage when I was 18, so I know it’s nonsense. Jack, my oldest son, got his
first mortgage when he was 18. It’s nonsense. Young people can’t get
mortgages, nonsense. Young people think they
can’t get mortgages. Let’s now go to the other
end of the spectrum, I can’t get a mortgage ’cause I’m too old. You’ve got it all. Okay, so young people can’t get mortgages, old people can’t get mortgages, is there actually anybody
that can get a mortgage? Yes, everyone. I’ve been told that I can’t
get a mortgage because I’m 75. No, you can’t get a
mortgage, but a company can. You can form a limited company and you can own the limited company and the limited company, now, all of us, at some point, none
of us is gonna life forever. A limited company will. So, if you know the right question to ask, go to an IFA, I’m 78,
can I get a mortgage? No. I’m 78, I’ve got a limited company, can the limited company get a mortgage? Yes. The quality of your
life will be determined by the quality of the
questions that you ask and if you want a better quality of life, learn to ask a better quality of question. So instead of, I can’t get a mortgage, the question that should be asked is what do I need to do to get a mortgage? Okay. Now, let’s look at, I
want to get a mortgage because I want to get buy-to-let. What kind of percentage deposit do I need? Everybody thinks it’s 25%. Is it? Go and Google it. Google best buy-to-let mortgage rates. Google’s your friend. For example, there’s a
whole range of mortgages where you only need a 20% deposit. I could rattle off the
names, I’m not going to because it depends when
you’re watching this, they’ll all have changed and whatever. There’s a whole range of mortgages at 85%. There’s many ways in which
you can get a mortgage, as a person, as a limited
company, as an LLP. The thing you need, the thing you need, is a good mortgage broker, a really good mortgage
broker and a mortgage broker that understands both buy-to-let mortgages and commercial finance. Oh no, commercial finance, Paul, I don’t even have a buy-to-let, I can’t get commercial finance. I know what you’re thinking. So what I’m gonna do is I’m gonna share in this video, I’m gonna put up a slide
now with the contact details for a really good mortgage broker who’s gonna help you get a mortgage whatever your situation. Just contact them and the very fact that you’re coming through Touchstone, use the link that you
can see on the screen, you’re gonna get a 25%
discount off of their fees. Why? Because they know you’re serious because you come from Touchstone. Touchstone, the family,
we’re always trying to get you a discount, always. We’re trying to help you do it, we’re trying to support
you while you’re doing it, we’re trying to get you the
best possible value for money. But let’s have a look
at commercial mortgages. I can’t get a commercial mortgage because I’ve never had one before, because I don’t have the experience. Now if that was true, no one would ever get
a commercial mortgage because here’s the news. For everybody, the first
time is the first time and if you can’t get a mortgage ’cause you’ve got no experience ’cause it’s the first time,
no one would ever get one. So the entire commercial mortgage industry would go (blowing raspberry),
there wouldn’t be one. So, I would like to
give you the knowledge, the confidence and the
power to take action that you can get a mortgage. You absolutely can. I’ve got bad credit, Paul. Yes, we’ll all got something, haven’t we? So how about you do a limited company and how about you include
people in that limited company that have got good credit or an LLP. I promise you, there is a
solution to every problem. The mindset is the thing that is stopping you getting a mortgage. So if you want a mortgage, fix your mind. Okay, I’m gonna draw this
episode of Money Matters to a close now. Hope you’ve enjoyed it. Really really really wanna make sure that you’re part of the Touchstone family, you’re part of the Money Matters family, so subscribe to the channel and make sure you never
miss another episode. If you’ve liked what
we’ve talked about here, if you’ve been interested
in 100% student loans or limited company mortgages
or, you know, whatever, and you wanna ask more about
it, please ask a question. First episode, first Money
Matters episode of every month, we choose the most interesting questions and we answer them live, either I do, or our panel of experts does. Final request, please,
if you’ve enjoyed this, please like it and please just think about who would benefit from
sharing this knowledge, from understanding more
about why money matters. You’ve been wonderful, I’ve been Paul, I’ll see you next time. (slow music)

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