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Welcome back to What I Own – Metro’s property series where we speak to homeowners about getting on the ladder.
When 34-year-old Matt Hall first started mortgage hunting, he anticipated that he would struggle.
Ever since he entered the world of work, he’s been freelance – and so he jokes that he’s never had a ‘proper’ job. At least, in a traditional 9-5 sense.
Knowing that his lack of a consistent monthly salary would likely put lenders off, Matt decided that he would take matters into his own hands to get on the property ladder – and ardently saved for a £76,000 deposit.
Moving into his three-bedroom home in Bradford last November, he was able to stay local to the place where he grew up – and avoid giving away ‘dead money’ by renting from a landlord.
Here’s what Matt had to say about his property journey…
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Tell us about yourself!
I’m Matt Hall, an online business strategist from Bradford. I help people turn their skills and passions into successful online businesses.
I host two podcasts, I’m a Guinness World Record breaker, run a membership called Success School, and I’m currently writing my first book.
Outside of work, I’m big on personal development, travel and spending time with good people.
Whereabouts is your property? What do you think of the area?
I’m in Bradford, West Yorkshire. It’s a really convenient spot for me, close to my offices, family, and friends, and not far from Leeds, which I love.
The area itself is pretty quiet, but still has everything I need nearby and is close to motorways and train stations, so I love that it doesn’t take me long to get places. My favourite thing is the convenience.
I also love that my street is quiet and I’ve got a beautiful, large, open field just behind my estate that I can walk around. It’s stunning in the summer.
The least favourite thing is probably the traffic in the surrounding streets at certain times.
When did you move in?
I moved in late last year (November).
How much does your property cost?
£235,000.
How much was your deposit?
£76,000.
What is the monthly cost of living here now, both mortgage and bills?
All in, including my mortgage and bills, it’s around £2,000 a month. Then fun money on top! The mortage is for 25 years, at a fixed rate of 5%.
How did you save up for your deposit?
Through building my online businesses – it took about two and a half years. I’ve always been self-employed and never had a job!
I made a point of consistently saving whenever we have launches and bigger income months in my business, rather than just wasting it. Being an owner of your own business, I believe, generally enables you to plan more strategically.
What was the process of getting a mortgage like for you? Did you find any parts challenging?
As a self-employed person who earns money from my different businesses, I found it so tough. One of my businesses is based around supplying acts for live events, and in 2020 and 2021, that wasn’t looking so good on paper.
Initially, I was hoping to put down a £45,000 deposit and get the mortgage in principle based on that. But in reality, it wasn’t so straightforward, which is why I’m glad I had savings that enabled me to eventually go as high as £76,000.
How smooth was the buying process? Did you have any hiccups?
It was just so slow because the mortgage in principle was so easy to get, but not the mortgage itself. I put the offer in around March last year, but didn’t actually move in until November.
Where did you live before this – were you renting or living with family?
I rented a one-bedroom apartment in Drighlington.
What made you want to buy rather than rent?
I’ve just always felt like renting is dead money, and at least buying a property is investing your money into an asset long term.
I appreciate that owning a home isn’t everything, and there’s certainly a variety of smart investments. I currently have a range of investments including stocks, shares, a pension, gold and silver. But I like the idea of owning my home and knowing it’s a relatively safe investment.
How did you find this property? What made you choose it?
I was just looking around the local area for somewhere near my business premises, and I love that it has a fairly spacious downstairs living room and dining area…well, it’s certainly big enough for one person to live in!
How have you made the property feel like home? What’s the inspiration for your interior decor style?
I’ve kept things clean and modern-looking but with warm tones, so it feels inviting. I’m big on making a space feel simple, calm and uncluttered, so I’ve been intentional with what goes where. I hate old-fashioned! I like a more modern design and simplicity.
What’s your favourite room and why?
Probably my dining room. I love that it has a nice, long table and a wooden feature wall.
Do you have plans to change the property?
Yes. The next steps are to have a new front door and garage door, and also to decorate the downstairs bathroom.
What’s your favourite piece of furniture in the house?
My feature wall in the living room, with my TV.
Are there any problems with the property that you have to deal with?
Luckily, no.
What do you want people to know about buying a home?
Don’t underestimate the costs outside of the deposit – the furniture, fees and decorating all add up. And if you’re self-employed, get your accounts and paperwork in order early!
What are your plans for the future, in terms of housing? Do you plan to stay here long-term?
For now, yes. I’m enjoying the space and the stability, but I’m very open to upgrading to a bigger and better property within the next year or two.
Shall we take a look around?
Do you have a story to share?
Get in touch by emailing [email protected].
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