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Essentials to buying a Flat UK 2021/22 home owner/investor
Rating: 4.8 out of 5(5 ratings)
706 students

Essentials to buying a Flat UK 2021/22 home owner/investor

World of flats
Created byJames Middleton
Last updated 3/2021
English

What you'll learn

  • Essential information needed for buying a flat as a home owner, first time buyer or investor
  • Leasehold and Freehold implications and structure in all parts of the UK
  • Wishing to take advantage of the 5% deposit scheme
  • Service charges and Factoring company operations in the UK and Gibraltar
  • Mortgage lending with banks, brokers and Stamp duty information for flats 2021
  • Ground rent terms and payments and covenants in all flats in the UK
  • How to avoid pitfalls when buying and safeguard yourself saving £1000's
  • A basic legal understanding of what you can be bound by before you buy!

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Course content

2 sections • 9 lectures • 1h 24m total length

  • The Essentials for buying a flat UK 2021/22 home owner / investor0:23

    Course material,  information  and guide to follow during lectures. There is a test at the end to complete, which will give students a challenge on all aspects of flat buying.

  • Lecture 1 Module 1 Why buy a Flat the pros and cons11:06

    This lecture explains the advantages and disadvantages of flat ownership.

  • Lecture 1 Module 2 Types of Flats and Features14:50

    You will be surprised to learn that there are so many different types of flats. This lecture, will enable you to identify the  different types and styles of flats along side features which can add value to the flat in so many ways.

  • Lecture 2 Module 1 Important factors to know when buying a flat 202121:07

    There are many important factors to consider when buying a flat, and depending where you buy in the UK, it can mean a lot more checks, and processes being carried out in order for you as the buyer, to buy with confidence! This lecture is really the "meat and gravy" of the course, and you will learn all basic aspects of Leasehold, Freehold, service charges, and management companies.  You will learn which parts of the UK are more complex to buy in, and analysis on costs and charges which you will need to pay. Overall, this section will give you the knowledge to make an informed decision, and potentially, it could save you 10's of £1000's ,of pounds.

  • Lecture 2 Module 2 A. Ground rents7:25

    Ground rents are an  obligatory part of buying a flat in some parts of the UK, This lecture will cover why ground rents must be paid, and the subjective nature of cost. It will  also examine some of he pitfalls to avoid when buying a flat, where ground rents may increase. New updated government information is now available  on the reform of ground rents, which will be briefly mentioned.

  • Lecture 2 Module 2 B. Covenants8:02

    Covenants, are conditions which any would be flat owner in the UK will be bound by. This lecture will explore the role of covenants  and what to look out for when buying a flat. Any would be buyer will need to no  what exactly they are signing up to, so self analysis and long term goals of what somebody may want to do with the flat, later on in years   will have a bearing on what "they" the new owner can or cant do.

  • Lecture 3 Module 1 Mortgages and Lending Criteria for Flats13:36

    Mortgages are the cornerstone of finance for the majority of individuals looking to purchase a flat. . This lecture will analyze  the  certain areas of the lending criteria for both the prospective buyer, and. what lenders will need to know about any flat that they may mortgage. The role of underwriting in this section will be looked at which is paramount to getting lending in place, as you will learn about the affordability aspects needed to be granted a mortgage.  There are a number of key areas to look at when choosing a lender, and we will look at what the role of the mortgage broker can have to help less favorable  candidates or properties, to secure a mortgage.

Requirements

  • no

Description

Buying a flat is a fabulous decision to make, regardless of whether your purchasing as a first time buyer, a mid life professional, a retired person a second home. or investor.  Trainee estate agents and property professional can also benefit from this course, as it will provide an insight into this area of the property world.  However, flat buying is far from simple as there are many important factors in the process which must be taken into consideration, that  can effect the ownership! This course will give you the knowledge to make an informed decision so that you can buy with confidence, and could help you save a considerable amount of  financial burdens, which you are legally bound!  The implications of buying a flat are so different to buying a house,  and not knowing what you are buying, and realizing after you have bought can be truly a daunting prospect!   Budgeting as well for a flat in the buying process and living costs after you have bought has also to be factored in.  The fact is so many flat  buyers do get it wrong, so by taking this course, it will enlighten you  whether to buy a flat and when you are searching the market, you'll  know what's a good buy and what's  not a good buy. The value of this course to any one who sits it is knowledge of the course author who has much  experience gained over the last 20 plus years.

Who this course is for:

  • First time buyers, potential investors , retirees, estate and letting agent trainees, home owners
  • Students in property management, Professional courses or degrees
  • First time buyers of flats
  • Professionals looking for a flat
  • Anybody looking for an investment flat
  • People taking advantage of the new 5% deposit scheme 2021
  • People taking advantage of the stamp duty holiday
  • Anybody wishing to know about flat buying and the process
  • People who want to downsize to a flat and want a general understanding of ownership

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