In this episode we have UK Mortgage Advisor, Dan Knott who has helped hundreds of first time buyers secure their first mortgages.
In this episode we discuss:
– How credit impacts your mortgage options
– Whether you can use stocks, crypto, pensions, side hustle income for a mortgage
– Getting a mortgage as a self-employed person
– What to do if you’re a struggling landlord
– What to do if you’re remortgage is coming up
– Stamp duty changes and more
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TIMESTAMPS
0:00 – Savvy Wallet Ad
0:18 – Preview
1:23 – Intro
1:59 – Meet Mortgage Advisor Dan Knott
5:33 – The amount of first time buyers in 2024 vs 2023
7:52 – House prices in 1997 was 5x salary
10:07 – Tide Ad
11:41 – Labour’s pledge to build 1.5 million homes
12:57 – Things you should think about prior to getting a Mortgage
15:08 – How your credit score & report impacts mortgage options
20:05 – The impact of a missed payment, default or CCJ
22:57 – Buy Now Pay Later & Mortgages
28:52 – How to improve your credit score
29:45 – What other information is important for a mortgage?
31:44 – How much mortgage can you get with your income?
38:40 – Using crypto, stocks, pensions or property for a mortgage
43:35 – Can side hustle income be used for a mortgage?
45:47 – Any income or deposit sources a lender wouldn’t consider?
48:34 – How do lenders determine affordability?
52:10 – Can car finance stop you getting a property?
56:15 – How is the term length of a mortgage determined?
1:01:09 – Getting a mortgage as a Self-employed person
1:04:34 – Don’t attempt Mortgage fraud
1:06:38 – If you start a new job can you get a mortgage?
1:08:29 – Does business experience impact your mortgage offer?
1:09:29 – How a mortgage advisor can help you to get the best interest rate
1:13:39 – What to do if you’re struggling landlord
1:15:24 – What to do if your remortgage is coming up?
1:20:38 – Stamp duty changes
1:25:23 – Fixed mortgages: 2 year vs 5 year
1:26:55 – How to choose the right mortgage advisor
1:28:16 – Final words
Other EPISODES to watch:
EP. 155 – Investing Expert: The Only 2 Investments You Need to Build Wealth & Get Rich! – Pensioncraft
EP. 151 – Financial Therapist: Don’t Let Money Control You! How To Master Your Money In 2025!
EP. 150 – Debt Expert: The Truth About The UK Debt System! This Is How They Trap You in The Debt Cycle! ft. Oye
Disclaimer: The information contained on this video is not intended as, and shall not be understood or construed as, financial advice. I am not a financial advisor and the information in this video is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
#thetakeoff #businesspodcast #motivationalpodcast
25 Comments
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Work place pensions do impact how much someone can borrow as most employers use salary sacrifice schemes so the employers NI contributions are reduced so paying into a pension actually most of the time reduces amount you can borrow as this reduces your gross income number
Could we also have info on Right To Buy mortgages? Am in the process of buying my flat and it would help if we could have some information about the right to buy process
Where is the bit about overpaying your mortgage please?
Once you clear debts do your credit score change straight away
Great insight into getting onto property ladder 👏🏾
Are out there fraud related to mortgage?
What happen if the mortgage broker or the lender or the solicitor run away with the house deposit?
Brother next time please make notes and write down reference points to better control the flow of conversation.
I didn’t click on this video at first for the same reason but it’s been a while so gave you the benefit of the doubt but I’m still disappointed.
Icl I find it really distracting and unprofessional when you’re consistently forgetting what you’re saying, laughing out of anxiety, and then end up going in round-a-bouts to ask a simple question.
Regardless, great info for anybody to listen to!
🔥🔥🔥🔥🔥🔥 battle luv 4rm 🇬🇧
Great info
Getting marked down on your credit report for failing to pay a parking ticket – might seem punitive, but the logic, make sense. From a lenders perspective, if you needlessly incur a fine/debt, that has a bearing on your monthly outgoings. Why wouldn't a lender take this into account?
Dont buy property for investment.. Buy Bitcoin 😂
Quality video 👊🏾 very good info brother
Hi, would a stocks isa account will it affect me getting a mortgage
As a 1st time buyer my experience in having a longer mortgage wasn't cheaper on repayments. I was asked what duration I sed 25yrs cus its standard, ran the figures it was 'X' amount and then the advisor then ran another calc' and came back with 12yrs and 1 month (but had to be 13yrs cus they run these things yearly not monthly) and the difference was about £12 (and im confident it was £12 cheaper not more expensive). My personal circumstances are below
100% mortgage (no deposit) £48,500, earning £32k approx, Right to by scheme, 49% discount (so had 49% equity instantly), self employed limited for 3yrs, joint mortgage with a home maker so 1 income, 3 kids, and I have epilepsy which isn't covered by any life insurance company and I cannot get health insurance.
I assume i didn't need a deposit because I instantly had £47k equity.
I really enjoyed the vid and i learnt a lot. Im looking at moving so this is a great help
Mortgage advisors are a waste of time, do your on research and avoid expensive fees.
If your struggling get mortgage either your self employed or on low income, first time buyer,/ccj's, I suggest lender to try (Together money).!.. They do have high interest rates. But can go for 2 years interest rate, then change lenders get cheaper rate.
Should ask him for youngsters who have junior ISA 's when they turn 18 want buy property.
Could you direct for those have junior ISA .??want get into property ladder once their turn 18
Don't fix for very long term that's 5 years rather go 2 years if your on higher interest rates. Always can shop around once term ends
really, really good episode
You mentioned mortgage fraud and gave some answers, however most people manipulate their lives to embellish their income temporarily for a mortgage to get accepted . Then if your income changes years afterwards, no one really cares or checks, they will only check if you were to remortgage, would you agree?
Please explain about CIFA
Hi, I am on a skilled worker visa. I have now completed two years in the UK. Can I get a mortgage? What do I need to do?
Overpaying my mortgage is the best thing I ever did.
I am overpaying mine since I started owning a property.
After interest rates grew drastically 3 years ago, many of my friends ended up paying up to £1000 more p/m and some of them had to sell their property due to this.
Meanwhile my mortgage grew £50 p/m because I overpayed so much.
Of course I shoulddn't have to mention that my monthly payments are tiny now.
2 more years and if things don't go horribly wrong, I will be mortgage free.
I have decided to do all this myself, as this is just common sense for me.
Any mortgage advisers that I used in the past were just hopeless, and often I lost money because I listened to them. Of course this is just my experience.