Ajay Ahuja Blog Post on First Time Buyers

If we all be honest the first time buyer (FTB) isn’t really getting much help.  Yes there are 95% LTV mortgages for them but about 3 people a year get one of these!

A FTB needs the same deposit as an investor.  25% is needed.  Problem is a FTB does not know ANYTHING about no money down investing.  Do you?  Let me ask you a few questions and see how many you get right:

  1. do you know what BMV stands for?
  2. do you know what NMD stands for?
  3. do you know what yield is?
  4. do you know what LHA is?

If you know the answers to all 4 then I can let you know that probably only 1 in every 200 adults would know the answers to these questions.  If you got 3 out of 4 then you are definitely in the top 1% that is for sure.

So are you going to take advantage of this knowledge?  Now simply knowing the answers to the above questions will not mean you will succeed but the mere fact you know most of the above INDICATES that you are at an advantage.

I used to read success stories of internet entrepreneurs and it was funny how they all said they were just in the right place at the right time.  The place being California and the time being late 90s.  These guys just knew a little bit more about the internet than others.

Do you consider now in the UK to be the right place and right time?  I think you know my opinion on this!

I succeeded as I found out about buy to let mortgages pretty much when they were released.  This discovery made me who I am today.

So appreciate what you know and USE IT!  If you want to put yourself and your knowledge to work then take a look at some of my advice books.

PS the answers are:

Below Market Value

No Money Down

Annual rent divided by purchase price

Local Housing Allowance