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All right. So we're live on. Sorry. Okay, everyone, thank you for joining. We're just gonna wait a couple of minutes till everyone else join. I know we started a couple minutes early, which is not like us at all. Um, so just hang tight. Will get started on a little bit. Yeah, sure. Okay. Good evening, everyone. Welcome to another edition. Uh, the finance medic from nine weeks dot com. This will be featuring Doctor Sai Rasha was an academic probation. Training folks with being very, uh, got to Asher is also very qualified. Chartered accountant have been providing it with lots of useful information and cure days over the last Well, seven or eight weeks, though. A zoo, always. If you have any questions at all, please do comment on the video on Facebook on. I'll be monitoring that, and I will pass that on the doctor. And also, I guess that's evening on babies. Uh, close to use our, uh thank you, James. Welcome, everyone. Thank you so much for joining this evening. I know last week we had a little bit of a break. That's cause I have started finally, as an F one on Oh, my God, it's hard. It's intense. Feel free to comment. You're free to ask any questions how it waas. We'll just tell us about how you're Ah, experience was of your first few days. I I thought I was prepared. I thought I'd done all the shadowing I needed to do but clearly know. So we're just gonna jump straight in. This webinar is about mortgages on mortgages is a huge, huge topic. It covers everything from the first time Buyer to remortgage is two people who wanna purchase a property and rent it out. So I decided the best thing to do was to actually narrow it down to first time buyers because others who have had mortgages before We'll probably know a lot of the information about I'm about to talk about anyway, Um, and those are stage of training. So around the leaving med school Ah, the early foundation years will probably be fast time buyers. So I'm hoping I have covered the topic at the right level. But, um, what I wanted Teo introduce. First of all, this is what we will be talking about. We're talking about what a mortgage is. Um, the types of a mortgage is available to first time buyers. What repayment structures look like? Um, what? The difference is between a fixed rate in a variable rate mortgage on information that specific to healthcare professionals. Um, I am extremely proud to introduce Tom Davies. Tom Davies's my mortgage consultant so he's tried and tested on. He's excellent. Hey, will be actually providing us with support. You'll be jumping in with nuggets of information on. He'll be also covering the Q and A A T end. So please fire or your questions. Ah, in the comments to him, um, he's worked with doctors locum say healthcare professionals nurses. So he knows what he's doing when it comes to the mortgage is for the healthcare provider. Um, Tom, would you like to just say if you worked? Yeah, absolutely. So, I mean, just give you a brief introduction of who I am. So I I've been Financial street now, about 56 years. So, um, I do with very wide range of different types of clients so predominately deal with a lot off a lot Start from the HS. So, like you said local doctors, or to do a lot of nurses on What you tend to find is there are various different types of income types of different routes that people go down. It's quite specialist industry. So yeah, it's really important to get the advice right the first time on. But especially when you're doing something as delicate as as a mortgage, it's important to speak to someone like myself who, you know, does this all day in, day out. These different lenders will look at different things with a different sort of like in a different level off perspective. So I've looked for the slides on, you know, we're gonna hit quite a lot of key points within his presentation. So I'll let you crack on with it and go jump in on try and get some information where I can and hopefully show something like on the whole situation. Lovely. Thank you. I will have a slide with these exact same details at the end of well, so if you want Thomas information, it will be available at the end of the Web. And also you don't have to scrap, try and write it all down the ones. Okay, let's jump straight in. What is the mortgage? A mortgage is a specific type of loan that is given to you to buy our property. Eso the average term for a mortgage is 25 years, but it can actually be whatever you want it to be. Um, you can have it for less. Usually if you're on older buyer, they prefer that you have a small, less amount of time as your term. You could have it for longer. Um, not very often, Um, Andi. It's a secured loan, which means that it's secured against the property that you're buying on. Therefore, if you fail to make your payments on, you are consistently missing payments. They don't repossess straight way. They give you a few chances. But if you are unable to make appointments with the mortgage, your home may end up being repossessed because that's what the long for the mortgage was secured against. So factors that affect your chances of actually getting I mortgage. So if you'll remember many, many moons back when you first met me, I did that webinar on the credit school. Um, that was basically to help you understand how your credit history is gonna affect whether you get a mortgage or not. um, they take a close look at your credit history because this is probably the biggest loan you're gonna take. Um, in your life, it's It's no, it's not small amounts of money, and it's actually quite risky. Um, so they look very closely at your credit history. And actually, this is where the most unexpected snugs can occur. Something from your past many, many years ago that you had no idea existed can creep up on but of delay your mortgage or mean that you can actually get a mortgage the first time around. Which is why it's so important to take a look at your credit risk history, scan through your credit report with a fine tooth comb and make sure it's all accurate. Yes, it close just to give you a history and on idea of whether legs will look at this so they have access to the last six years. They can go a look further than that if they wished to. On. This is really important that prior to a mortgage application that you you see a report okay, so most lenders will look three different types. Reports on the experience back in trends Union um they can use different combinations of those three tens, just pictures of experience. But that's also depending on what lender and seed with. Now. Um, the reason why it's so important as well is because when when you go to an underwriter, a lender, that's what they're looking at. They're looking at black and white flat backs on paper. So your credit history is basically defining who you are on your credit worthiness. So, um, what I tell all my clients mean I do a lot of people's well, you are in situations where they might be getting more good now. But with with the road map off 36, 12 months and sometimes in two years, I can start directing in a way where, if you do, that's why exurbs, ultimately, you know, you're gonna be in a position where you know we can look to secure the phones. Now, what a lot of letters will do. Looking at your credit report is that we look at the facility is available. So, for instance, if you got a credit card for it with with 1000 lbs on it and you're using nine hundred's 50 lb bit, you're using a lot. You're available Credit now, on paper that that says to the underwriter. Yeah, well, they're using credit and you're not going over the limits. You're still using it up to the maximum available. So when you're looking to do a mortgage application, it's important to keep you're available credit, and I still use it because it's a second Catch 22. You still got to use it. But you can only use it because when someone sits down and looks at that and I don't know, um, they don't know your circumstances and why I've used it. They'll say, You know, you've got 1000 lb here using nearly 1000 of it. Can you manage your money? Well, so that's a really key point. I think that, like you said, that's where a lot skeletons kind of the closet. And, yeah, it's important to look at that sort of plan it six months before 3 to 6 months before, so you can line everything up, and when you come to the application, you're gonna be in a good position then. So you have everything cleared off your finances in a away, your ducks in a row on Yeah, it just makes for much of the the process. Oh, yeah, That's my tops it on that. Thank you, Mom. That's really, really useful, actually. Yeah. Um, thank you so much for that eso the next. But I looked. I looked at some high street mortgage lenders and a lot of them were coming up with the same thing that they wanted you to be in a permanent, full time employment. Now, that's not the same for us. For example, my F one contract just runs for one year. Um, and then I'll get another contract for if two and then another contractor call. Whatever. Um, so it's not. It's not a straight forward for doctors as it is for people who may work in in normal, like private sector. But Tom is going to discuss how you can get around this and and how, for example, locum So it works a little bit differently. Um, is there anything else you want to after that time before we get there? Yeah, I'm not sure how in depth want me to get on this slide in particular, So yeah. Go for it. Yeah, course. It's like like you said, most Linda's will want you to be a permanent position is obviously, you know, actually longevity. And that shows security moving pool because they're going to send you Yeah, 100,000 lbs in some instances. So, um, yeah, that's what most lenders one now off the back of that, working in this industry and so specialized in different different incomes. What you tend to find is when you package the case correctly and you choose the right lender and you can provide a narrative behind it, you can use income like local work, for instance. Mean the problem is a lot blenders. We'll want to see two years. But some lenders, some providers might want to be 12 months with history, so long as you're showing that, you know, uh, for instance, bank work as well as that's technically zero contract, isn't it? So, off the back of that, most lenders want to 24 months worth there and pee sixties to back up to make sure that each month each year you consistently hit um, on average, so of income. Now there are letters out there that will look at a 12 month history on golf. The back of that and you know there's There's also various different routes that doctors take. So Umbrella Cos. For instance, so again, with that one, there are various different options, different routes that we can take on ideally, and I I can I can source mortgages with 12 months history. So, ideally, that's when you want to start looking at it on the wraps. Teo on sort of a month 10 11 12. That's where you want to start again, getting advice and come forward, and it ties in with the credit history then so we can look at the credit pool and actually get it ready for the 12 month. So yeah, well, there is another slide on this a bit later on which we will provide a bit more detail on. But that was basically it. Actually, you can. There are London's who will accept less history, but as long as you're planning it in the right way and you were brought a poke, the approach a mortgage broker at the right time or early on, they can help you come up with exactly what you need to do for your application to be successful. Um, the next one I was going to make is your salary. So the salary that's used normally is thie salary that's in your contract. Your basic pay. Um, so we get Ah, we can Premier, we get our out of ours, we get all, um, over time, etcetera. But I think what time is going to tell us a little bit about is actually if we can prove that we consistently get that added amount over our basic salary, we can actually that incorporated into our multiplier. Is that right on? Yeah, absolutely. So what a lot of letters will do is they'll look at the last sort of three months where the pace lips on. So, you know, if you got shifted out, something there pool out. You know, whatever above, beyond your basic is they can add it together to buy buy three times by twelves, Then they can annualize figure of it. Most letters will use around about 50 to 60% of this, depending on where you go to on they tend to back up against Piecyk sti. So this is where what's it depends how much you looking to borrow and where your affordability sits. But let's say it's quite time affordability for the war. Could you look into secure? Um, you know, if you're looking at three months pace that annualized, what most tender to do is they will look against the peak 60 bigger, and I'll take the lesser of the two. Now in previous case is a good way around. This is, there are some new trend is out there that will use a six month average if it's better than the P 60. So let's say, you know, I mean, it's August now. Okay, so let's see. You just start this role in January and you've given working really hard. It's really busy and in health care of Mom, isn't it? So you're gonna you, naturally, you are going to put a lot of extra hours in. So instead of using three months, typically slips on be comparing it against Piecyk. See, that's not really reflective of what your own ends are moving forward Now. You know, we can use six months and make an annual ization of that as well. So, you know, that's really helped a few of my clients obtain what they need to obtain on. Be on on multiple was a salary is. Well, there are a few different lenders out there that will look at tentacles. The hero range, which is quite nice. Name, you know, like that. But with the hero range, What they look at is Salonika professionals little bit like nurses, doctors even please, even police blue light services and various other sort of service. First now, and they can use up to five or five times income. Obviously, that is pending on credit school and depending on the circumstances. So, um, that again is just another tool in the arsenal to basically get you guys what you need in order to secure the house that you're after and let me sense next number. Yeah. Thank you. So, basically, the point we will both go make is that, um you have, um normally, it's around four or 4.5 times your bait, your salary that they're willing to lend you. But for doctors, nurses, another blue like personal, there are certain lenders who will actually go up to about 5, 5.5 times your salary and lend you that, which is fantastic. It adds ah lot of money and gives you quite a lot of leeway in the kind of properties you can actually look at when you can get that little bit more on your salary. Um, on deposit. Now, this is based for just first time buyers. It's not specific for healthcare professionals, but, um, for first time buyers, there are deposits. I'm sorry, mortgages that, um, the deposit is a slow as 5% off. The property value on these are specific for first time buyers. The higher deposit you can pay upfront, the better terms you'll get because they're having to lend you less than what you would be getting. If you had only 5% deposit, we'll talk more about the help to buy scheme which helps you get a better mortgage rates by helping you with the deposit. We will talk about that later, but the minimum you need is 5% off the property value that you're looking at. Okay, So look at this lovely s o types of mortgages for first time buyers. Eso There's three types of mortgages that I'm going to discuss. There are actually more. There's there's ones for right to buy, which is for people with counseling houses. I'm not going to discuss those. You can research those. I put some. Resource is in the article, which will be published a little bit later. But the ones I will discuss is the first time by a ones helped by which might be quiet, interesting for a lot of us on guarantor. Um, so, first of all, first time buyer, this is sort of a veil. A bill to all first time by is you don't have to have a special account for it. You don't have to have anything especially lined up for it as long as it's the first property that you're buying ever. You are the first time by A they have lower deposit requirements, so between five and 10% 5 is definitely the lowest. Um, it's usually 10% on. They are a lot higher loan to value, which is what led V stands for. And it's basically just the percent of the house price that girl lenders loaning you. So if you've got 5% deposit, their lending you 95% off the house. Well, you got a 10% deposit, then it's 90% of the house, while you that's what loaned to value means and the things to remember is that even if you have the 5% for the deposit, there are actually lots of other costs. You need to keep in mind as well. Um, they will. You lived to be able to afford those costs, which we will discuss a little bit later. Um, on the lender will also check your affordability. So it won't be just the fact that you have 5% of the deposit on. Do you've got the salary that they need to give you the increments to then loan you the right amount. It's also whether you can afford to repay them so they'll look at your income. And you're expensive to make sure that your expenses don't mean you're not able to afford the mortgage payments. And they do do look at those in detail with you. So things like childcare costs, travel costs, things like that. They will take those into account. So it's not just the other basic information they'll use, um, on some lenders, there's only one at the moment, um, that they have additional requirements of way your deposit comes from. So some lenders say you only can use a deposit that you saved up yourself. Um, I believe this is only just wonder. Um, So, for example, if your family's helping you out, you need to be careful about how it works, how you're going to declare it because they will ask where the money is coming from. And this is awful. Money laundering laws they have to do this time. Do you have any insight on this? Yeah, it's, um look at this. We want it to be an immediate family member. So, like second cousins, Okay, Is one that come across a lot now, although they are, people can be really close. It's not immediate family member. So ideally, you know, you're looking at your mom, Dad, brothers or sisters or stepbrothers or whatever it is. So I mean, there are some lenders that will accept deposit from friends on D. There's even one that, except alone, as long as it fits the affordability for alongside the mortgage. But what that does is that pigeon holed you toe one lender and you're not gonna have access to hold market. But yeah, rule of thumb is, if you're gonna get gift, keep it within the family, and it's normal payable was well, a gift, by definition is a gift. So they hope. No financial interest. My thing? Yeah. Um, so a few more. If you have any questions about that, just stick that in the comments, and we'll clarify that, um, the next type of mortgages help to buy. Um, so this is It's a big one, Professor. Um, buyers helped by It's a government scheme that can help you by a mortgage with a slightly smaller deposit if you're buying. I helped to buy property a property with help to buy. Um, you need it. Least a 5% deposit on the help to buy scheme fixes the multiple of your salary at 4.5 times. So it's not You can actually go to the other lenders. That time was talking about where you have 5 5.5%. It is fixed at 4.5% on your salary needs to be able to be. We need to be enough so that the 4.5 times increments is going to be enough for you to buy the property you want. Um, so you use ah, help to buy ice a which is now no longer available if you have one. From before they were, they stopped doing them. You can use that on. Continue to save up in that as you want. But now you have lifetime. I says available. I'm check out the webinar. I did on savings because I will clarify a bit more about them. But basically, you use your help to buy ice er or your lifetime. I, sir, um, to buy a property on the money that you have saved in either one of those accounts, you get a 25% bonus from the government on top of the money that you've saved. People always ask me, Can I use both and get 25% on both those balances? The answer is no. If you end up using both accounts, you can only get 25% bonus on one of the accounts and you forfeit the other bonus. So the best way to use the's is to use your help to buy icer when you're buying a house and get the 25% bonus for that and then wait until you retire to get your life time. I saw a bonus and that way you maximize the two accounts. If you just have one of them, then use it to do what you want to do. If you if you have enough to make up your deposit without it, I mean, this is a lifetime. I, sir, then wait for your lifetime. I said, keep saving up in it and use it later on. Otherwise, you can use it to buy your first house is Well, um so for certain, um, there's an extra little bit here over in about equity lines. Now, this is to do with, um, new builds on what happens is you have a 5% deposit. The government then loans you another 20% off the property value that you want to buy, which means that's a 25% deposit for the bank. And then you're taking a 75 per get percent loan to value mortgage, which means you are borrowing less than you would have borrowed. Um, with just the 5% mortgage, the way the government benefits from this is when you sell your house, they get 20% off the selling price. But and if your house is increasing volume, they get more money, but, um, and there is a cap on the price of the house based on your location of why you're buying on the 20% equity loan is outside of London. And then there's a 40% equity loan in London. Uh, you want to add anything there before I carry on? Um, yeah. So that's I I'm actually the government panel will help swine. My company. Yeah, we do a lot of new building up across the South Coast and brilliant scheme to get you where you won't be on just touching up on the loan. Two values that you mentioned earlier. What? Right. Like you said, um, or the lender will end against the house. That's even more risky. Business is for, um, so you're up to the higher the interest rate. Which is gonna be I'm I'm not a payment. So you see about this scheme is where you're only provided a biopsy. So you get, um, from government. Yeah. Your lungs value is gonna be basically right in the sweet scar where you're going to get the best rate. The market. I secure someone this morning with helps. Bye. Because about 1.1% so extremely low in comparison to a 95% which you're going high threes. So first time buyers. It's definitely very good. Step in the right direction, and it it does set you up for the next five years. It will get you that extra room around, combine the smaller property and then wanted to move out in two years and start the process again. And so, um yeah, it's a really good scheme, but also their mind guys, that with the help to buy this is how it illustrates all my clients. So that, helped by scheme, is you have to meet their cross like Syria before you even look at lenders. Because lenders tend to lend movie, let us have different affordability scales, and what helps bias that helped by it, is an affordable house and scheme. So, um, I use the analogy is it's like a It's like a shot front window. And so you know, you've got to go through the front door, which is helped by affordability calculator on the financial assessment, and I want you through that door. Then you can start looking different lenders and you know, it depends on different income types. You can then have a PICC of the bunch. So that's really important. New going helped by Come speak to me of the guys here and, you know, putting qualify you and give you more information on then, yes, we're going to the right direction, but it's important to have the information first, I think. Okay, Yeah, It's a fantastic scheme. So whatever you can do to kind of make sure that you do qualify for it. Um do because it's it's such a good way of getting on the property ladder on getting something really worthwhile for your money and stopping soon as well. Don't. Yeah, I'll see. No. When is it is Accupril apply. Stop them. So I saw you. Yeah. Yeah, they're reviewing it next year. Yeah. Yes, they're reviewing it next year. And it's two are way we recognize going to keep going. But, you know, there's no guarantees with me going in sooner or later. Yeah, whom and then the last one we talked about is guarantor. Um, no, no, this is s o it. You could buy a property with small or even know deposit Now. I don't know how easy these are to get eso basically a family member or a very nice friend. I have not be friends, but none of them are going to give me this much money. We'll have to be agreed. Teo. We'll have to agree to be named on the mortgage, and they will cover your repayments if you miss them. Um, they have to guarantee the mortgage repayments if either your property is repossessed, which means you can't pay for the mortgage on their savings. So either they will secure the mortgage against their own property. Or they can put their savings in a savings account with the lender until a certain percentage of your mortgage has been paid off. I have never heard of anyone getting these of you. Yeah, it's good. Springboard. Okay, so just people figure simple. Let's say someone was looking at buying 200,000 lb house on So my mom and dad, but a 10% was it down into savings bonds or call it that would then be tied up five years, and it wouldn't current Trista swell. Okay, so that would go along for five years on at the end of the five years they can then take out those funds, including the interest that they've incurred and what, what? Barclay's. And the way that they looked at this is in that five years, Um, you know, you're gonna be making payments from that mortgage. So in five years time, you would have made five years. But the mortgage payments you consult into here, I don't know, like 95 to 90% 90 volume. So, like we mentioned before, that's a standard sort. First time, you know, sort of learned to ban you scale, but also is, well, keep in mind that the Equity Grove, too. So in that point in time, if if the property goes up by 20,000 lbs, which is more than likely given them, given the circumstances, you know, that's just more money within the property in inequity on. Yeah, you could basically remortgage on a standard 85 or 97. So, value, um, you know, sort of mortgage. So it's very good. Scheme is very good product on. Do you weigh? Had a good few go from here before, so it's definitely worth talking about. Accident eyesight is fantastic. Um, it was when I was doing my research. I came across these, otherwise I hadn't actually heard of thumb. Um, so, you know, I'm really impressed. I didn't I didn't think provided nice. So that's something. Um okay, so repayment structures. So I wanted to this or break down What? What? The nitty gritty off mortgages so that it's not as confusing when you're thinking about it. So there are two types of repayment structures. They used to be three, but they're not there anymore. Um, so that the main one you will probably see is the capital repayment. So this is when you make your monthly repayments and you're paying off. Ah, proportion of the interest on a proportion of the actual loan values. This is the same as a normal lung. Basically, on your doing that over your 25 years, Um, they used to be interesting Only ones where your term, for example, would be 25 years on. He would only actually be paying off the interest. So your mortgage, your monthly mortgage payments would be super super low. Um, however, at the end of that time, you still all the entire amount. So you did. I have to figure out another way off paying it off, um, at the end of the mortgage term, or end up selling the property that you you were actually buying in the first place. These aren't actually available as much anymore, I reckon. Is it because of the risk? How come? How come they no longer available? It's just because a lot of people going to the end of their terms so pretty down and seven on, a lot of people took these lines because I don't know what you mean. They weren't really No, I already explained to them what the implications, but it was the end of term. So what? People came to the end of August? Um, you know, like, okay, I should take my mortgage by now while but still got 100 50 grand. Outstanding. When you're in your life, when you're 70 years old and you have got a country possible back on investments, savings or whatever is, you know, a lot people well may homeless. Thanks again. A back bank, that loan, and they can't get a mortgage or never merit because people want to get to a certain age, really kick back in. Um, yeah. Enjoy life. A little bit. Why don't usually stop working s Oh, yeah, Yeah. Those big steps and strides in order to stop that happening with the in within the industry. Now, the only way we can solve obtain an interest mortgage interest anymore. But at the moment is by having a very large income normally over 70,000 lb for here and having a very large deposits or anywhere between 14 50% on words. So what the lenders looking at there is, you know, they want you to have a majority share with in that property. So when you come to sell it or whatever you are again, in the term you have a good income for the majority of your life, you probably wouldn't put it into pension parts and stuff ongoing come to sell it. You still were equities. You could move on from that on, and it it comes down to risk profile the lenders and yeah, so are you treating the first treatment customers fairly, which is really important. So that's why they sort of phased out. Yeah, that's really useful. Actually, I didn't know about that. So, um, you're more likely to have the capital repayment skin. Really? Um, so just keep that in mind. Just like a normal alone. Um, it always jumps between whether it's cheaper to have a mortgage or cheaper to rent on that. Just keep going up and down. So, uh, the good thing to remember is that where you are when you do have a mortgage, whatever money you are paying is actually going into owning your own property. It's not just money down the drain paying off someone else's, um, it's ah, it's money that you are using to actually buy your own property and creating equity in your own property. So don't sort of look at it is how much money Um, I actually spending. Is it cheaper to rent? It's more. Ah, how much of this renter's is actually making me, um, you know, gaining the equity and actually rented zero on mortgage. It's slowly building up for you. So those were the two repayment structures. Um, and you don't have to worry about one. And then the next thing I wanted to talk about was fixed rate and variable rate mortgages. Um, so I'm sure you've had lots of times that when you've heard on mortgages on telly and they said, Well, let's fix right this or tracker and things like that I just wanted to clarify what those terms were. So it wasn't too scary when you came across them. Eso a fixed rate mortgages is what it says on the 10. It fixes your interest rate for a specific amount of time between one and five years, Um on. So when the interest rates are really low right now, which is lovely, Um, you then know what your interest is going to be for the next x amount of years. You know what your payments are gonna be for the next month. Years on. It's not gonna go up and down and shock you. The problem with this is if the interest goes any lower, which at the moment, he's just happy with, um Then you might be paying over market rates so you might wanna not trap yourself in a fixed rate If, for example, we were like midway in terms of interest rates and it could go up or down variable rates. They're two types of variable rate mortgages. The first one, it kind of like follows Bank of England base rate where the bank kind of creates its own version to try and be competitive in the market. Um, on this one goes up and down, so it's not sort of a guaranteed fixed amount on your mortgage. Payments can change. They will obviously tell you what they changed on track of mortgages. Specifically, follow the base of Bank of England base rate plus, however much percent the bank wants to charge eso as long as you know the base rate, you're going to know what your mortgage payments are. But against these are subject to go up and down any point storm before I move on. Yeah, um, with that it again in a going full circle we're discussing before it's really important that when you're deciding on what rate that since you have what you're looking at, have a good thing about your plans over the next 23 binding 10 years on, we've got people come to us that fixed in for 10 years because interest rates really like two years ago, and they're in a situation now with about growing that house, so they have to move for a job on when you're fixed in. If you want to come out that mortgage and, for instance, you can't call that more abruptly for any amount of reasons. You could be a big mess of quite large fees, so it it just goes full circle. They have a really good in depth discussion with him or devisor. Broke a bank me whoever is and just make sure that's suitable for you because, you know it's for instance, if you're gonna buy a property on your planning to move out of it within a year, a bearable rate might be a good idea because most terrible wreck don't have your payment charges. So it's been about future proof from what decisions are having that good upfront frank discussion, pride toe committing myself. So keep that mind. Thank you. I didn't actually know about the fact that the very before we just don't have something do. But again, that's something that I would go through double check if that was a parameter and you you know, you told me that, then I would see source it based on that key fats of Yeah, you don't have the gal that mortgage. So So Thea the costs. I wanted to mention that you're gonna have to think about as well as your 5% or 10%. Because it is you'll have. You might have an application fee. Um, there will be evaluation fees, um, bank concert fees. So they actually charge you money to change hands of the money. Electronical. My parents took a check because they were so adamant that weren't gonna play whatever charge that was with the bank transfer. Um, so they have this very, very scary looking checked. Um, brokers B's which Tom does not charge. Yeah, I'm going. That's a plus. You know, like, when I find that by this used to us, then yeah, no fees for you guys. So that that's we buy any chest workers and stuff, So, yeah, just a get back to you. Oh, all right. And I just kind of commit you to something. You don't do something, That problem, Any chest, our doctors, and yeah, just just to give back, that's what That's what we normally do. So, yeah, on early repairman and exactly which is what we talked about. So if you wanted to leave your mortgage early, if you want to remortgage because you found a better rate, you might actually have to pay a charge. Toe leave. Um, on. Also, in terms of early repayments, You say you came into a windfall of money. There was an inheritance. You suddenly one the lottery. Um, this early repayment judge, can you tell me a little bit more about it? Absolutely. Yes. So that other pain in charge normally only flexible during the fixed time period. So let's say two years in this instance Now, um, this is a little known fact as well. A lot of blenders do have an overpayment facility waiting. Take a part of making up to 10% over payments of walking balance a year. Um, now, this is really good effective ray or cutting down compound interest. Um, do you want your mortgage time down? Yeah, Uh, a lot more efficiently than if you just pay a Let's over a short term If you want to set up a over payment. Same difference. So I went for a bit longer term. Um, you know, so you get a longer term up to the mortgage payment. Be a lot. Lower is it's longer. Um, but if you set up a overpayment difference if you. Have you been to cut it down? What body is if If the difference is like 200 lb every 200 lb of dependent you may. It comes directly capital outstanding. Rather, Then you pain capital and interest. So, um yeah. Yeah. So, uh, payment fees are playable within the fixed time periods on, but, um, yeah, it will make overpayments. You can make up to 10%. Don't care of the species. Oh, yeah? Okay. Me here. Okay. Um, so this was the information I put all in one place for healthcare workers. We've discussed it sort of slowly as we've gone along, but here's a bit of a summary, so you can have slightly higher multipliers of your salary better than high street banks. Um, you could get a mortgage of the local mall bank stuff, or you could use your bank earnings to help enhance your salary to be able to get a better, um, amount from your multiplier. Um, I was talking about how much we changed trusts and how many different contracts we have. Eso we can actually use last few months of pace lips and p 60. We can use our contracts notification of pare eyes is or six months for a better average. So you don't have to worry with, um, the fact that we changed trust so often that it won't be seen is like a permanent job, because the market is aware that as an age of staffers doctors, that's how are are kind of career works. So it is taken into account, which it wouldn't normally be for, um, of the professions, I guess, on then international medical graduates. Eso Tom. One of these experience brokers understands a lot about the visa restrictions that they face so he can help a lot about or the trying to access a mortgage. When you just moved to the UK and you're trying to figure yourself out, I'll let Tom talk about that a little bit more because he's the X. Yeah, so this is a major. This is a major part of what we do, Um, as there are a lot of restrictions. So a lot of problems with been normal. Yeah, a lot of problems that are so Linda's want to see history with with in the UK for a set amount of times. Now, that's normally 2 to 3 years. So you know, a lot of people that just come over and just start working on that Will they be in here? You know, 9 to 12 months, then it's sort pigeonholes them on, but it doesn't give them access to a lot of lenders. Now, we do have access fire our our intermediary network to use a few lenders that will look at 12 months history here in the UK so incredibly sure amount of time here. But that is subject to credit school. So, you know, if you watch in this on, you want to get a mortgage in 12 months and just started working here, it's really important. They start bank account, you get in the electoral role if you can start taking credit where you can. Well, so even if it's a small credit card, use it up to a good limits. So probably say about 80 85% and they clear it back down month. You have not used to be much of the facilities like before. Um, but yes, you know, um, it would it. Like I said, before it, it's all hand present the case to the right underwriter in the right way to allow them to have more meat on the bone. And so be more comfortable with it, because again, it's about responsible lending. Um, so yeah, with with Tier two B's is what you're looking at is normally around about 75% loan. Two Valium capsule. You basically need to provide 25% plus it off your own funds. Now again through our in symmetry network, we do have access to one or two lenders that as long as you've got two years addressed history here in the UK New credit school is high enough to, um, basically get greed on 90% 90 value. We can use them. So who my my my senior program is? It was just across from the last week. He actually secured someone in a in a similar circumstance, that 90% 90 value that they moved into UK. And I think it's gas in 19. I think so. Yeah, it is. It is obtainable, but it's just happened. That chat we experienced buys it like us here, and, you know, us places you in the right direction with the right lender with the, um with with with a right underwriter on. Um, yeah, it's Yeah, it's not difficult to get it approved. Is just making sure that you know what you're talking about. Basically, and it's quite a lot of hoops to jump through, but it is definitely doable. Brilliant. Thank you. We do have quite a lot of people following us who are international magical medical graduates. I think that information would be super super useful for them. Um okay, so these are times details again, Um, feel free to screen shot, take a photo, whatever you want. Um, I'll leave them up here for now. Um, and we'll do a little bit of a Q and A, um James you about? Yes, I'm here at the moment. I can't see any questions on the facebook feet. Okay, just give it a couple seconds to were fresh way. What we have been finding more recently is more people seem to be watching these after the event. People do have questions, even if you're watching, you know, a day later, a week later, do come comment on the video because we do go back and check the questions. It will be a kind of address, Any concerns or questions that you might have. So, yes, don't still no questions in the media. So that's why I'm Tom. No, que and eight this time. So, uh, if we do get any questions, if you're happy for me to sort of feel them to you, then and that's fine. But actually, I think what This what's been really, really useful is having you having your input when I've been discussing these things, cause it's answered a lot and clarified a lot, which was really, really useful. Um, thank you so much. We're joining us. That was really, really helpful. Um so, James, if you don't like to close up Yeah, course. So just a quick reminder. I posted the link for feedback, which is on your screens. Now. It's also in the comments on Facebook, whether you take five minutes to do it now or if you want trip, you know, sometime next week. Still, please, do you take a couple minutes, give us some feedback, give us some things that we can work on from prove it for yourselves. Also stuff that we can talk about in interviews, but in our portfolios, um, question of we do you know these sessions are all free on. But hopefully you found a very useful I know. I learned a lot each week. Yeah, I believe is everything but enjoy the rest of you. Even everyone on. We'll see you next week.