October 21, 2025 • 32 mins
House Buying Adventures: UK vs US | The Atlantic Exchange
Join Jerry and Matt on this episode of The Atlantic Exchange as they dive into the complex and often confusing process of buying a house in the UK versus the US. From hilarious bathroom ideas to the nitty-gritty details of freehold versus leasehold, get ready for an entertaining and informative discussion. Plus, find out why Matt can't handle the street WhatsApp group and get tips on how to contact the hosts on Instagram. It's a roller coaster of a show you won't want to miss!
Instagram @atlanticexchangepod
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Matt (00:07):
And we're live.
Um, welcome to today's show,Jerry.
How you going?
Jerry (00:12):
We're doing quite well.
Uh, good morning here.
I'm assuming, uh, it was a goodafternoon.
Matt (00:17):
It is, and here's what's coming up on today's show, I had
that idea where I was taking acrap earlier, so I thought, ah,
but then,
Jerry (00:23):
that's when the best ideas come about.
So,
Matt (00:25):
yeah.
Jerry (00:26):
I'm sure it was a great one.
Matt (00:27):
Uh, it was a weird bus journey, but, but you know,
still, if you wanna buy a houseand it's either too expensive or
even in an area where there's ahouse not for sale and you wanna
buy it, if you go up to it andspray on the front door, that
will be on the market within aweek well, that all sounds
exciting, even though weforeshadowed, so technically we
don't actually know what'scoming up in today's show at
(00:48):
this point.
It's like time travel, isn't it?
It's like back to the future.
But I'm sure what I'm sure,whatever we've just said coming
up in today's show, I'm sureit's really good.
Otherwise, why would we put itin there as a, as a trailer?
I had that idea where I wastaking a crap earlier, so I
thought, ah, but then,
Jerry (01:06):
that's when the best ideas come about.
So,
Matt (01:07):
yeah.
Jerry (01:08):
I'm sure it was a great one.
Matt (01:10):
Uh, it was a weird bus journey, but, but you know,
still, uh, so, uh, we're gonnacrack on.
Jerry (01:18):
do, uh,
Matt (01:19):
no, we're not.
Jerry (01:19):
in the UK have toilets?
Matt (01:20):
They don't, they do not.
Coaches do buses.
Do not.
Jerry (01:24):
it.
Matt (01:24):
buses in
Jerry (01:25):
ass buses.
Matt (01:26):
the buses, uh, in America have toilets.
Jerry (01:30):
Other coach buses.
Yeah.
Matt (01:32):
coach.
Yeah, a coach.
If you're going long distance.
Yeah, long haul.
Yeah.
A coach.
Coach is long haul, normally hasa little TV screen so you can
watch sort of thing.
Jerry (01:39):
be fair, a bathroom is what you make it,
Matt (01:42):
That's true, that's true.
I mean, I've some, I've seensome people on the night bus and
they've, they've definitelyfound the toilet.
So
Jerry (01:48):
They just have, they have a better imagination than we do.
Matt (01:51):
They do.
They do.
Yeah.
So that's not what today'ssubject is, is it?
Jerry (01:55):
It
Matt (01:56):
think it is.
It's not taking a crap on a bus,is it?
Let me check my notes.
I, I, I believe that's nextweek, I believe.
Today we're gonna talk about,uh, purchasing houses.
Uh, the difference betweenpurchasing a house in the UK and
the US'cause I'm sure it's, it'sstress free what whatever
country you live in,
Jerry (02:14):
Yeah.
Yeah, I'm sure.
I'm sure especially now, doesn't
Matt (02:16):
I.
Jerry (02:16):
where you are, it's just more expensive as well.
Matt (02:19):
I mean, I'd like some of our, um, some of our listeners
to write in and tell us whatcountry they're from and also
how they buy houses like allover the globe.
I'd like to hear those stories,which reminds me if we always
say this, we don't actually giveany details how to contact us.
We are on Instagram at AtlanticExchange Pod.
You can contact us there.
There are other means of socialmedia.
(02:39):
We just haven't been bothered toset'em up yet, but for the time
being.
Fill your boots.
Um,
Jerry (02:45):
Yeah,
Matt (02:45):
I, I was actually looking at our stats.
Do you know we have a listenerin Asia?
Jerry (02:49):
we do.
Matt (02:50):
We do, I don't know.
Hello?
I dunno where in Asia.
It's only given me con the, theJewish continent.
So I'm not gonna mock an accentbecause A, um, that would be
racist and get me canceled.
And also I could be thousands ofmiles off.
Asia could technically be partsof Turkey.
Jerry (03:08):
exactly?
Did did it.
It didn't say the exact country.
Matt (03:11):
It just said Asia.
I dunno if I can drill down.
Technology is new to me.
Um, but I'd be interested tosee, and I, I think they've
listened to more than oneepisode.
So they, they've either gotcompletely the wrong podcast and
they're thinking, oh, thisparenting hell with Rob Beckett
and Josh Whitaker.
It's not the podcast I thoughtit was.
Or they, uh, they're reallyenjoying this, uh, Atlantic
(03:33):
Exchange banter going on.
Jerry (03:34):
I, I, I hope so.
I hope they remain and refer usto friends.
Matt (03:38):
And I hope they, please, please tell your friends about
us and let's, let's doublethose.
Listen figures, figures in Asia,you never know.
Cut to next year we might bedoing a tour of Asia.
Jerry (03:47):
that's true.
Very unlikely.
But yes,
Matt (03:49):
Yeah.
I'd like to dream big.
Jerry (03:51):
the most, by the way, Matt is the most enthusiastic,
uh, non-realistic Brit outthere.
Matt (03:58):
Oh yeah, definitely.
I, I, I'm, I daydream.
I, yeah.
Jerry (04:01):
Oh yeah.
You are an absolute daydreamer.
Matt (04:04):
was already thinking about how, uh, next month we go to
Liverpool to meet John Cena, howI'm gonna pitch business ideas
to him.
So how, how do we get him onthis podcast?
Jerry (04:14):
would love
Matt (04:15):
Yeah.
Jerry (04:15):
there's a line of a thousand people
Matt (04:18):
Me pitching some,
Jerry (04:19):
walking, like Shark Tank.
Matt (04:20):
yeah.
Dress like Alan Sugar.
Uh, it's a house buying.
So, uh, do you own a house?
Jerry (04:29):
I do own a house.
Matt (04:30):
Great show.
See, see you next week everyone.
Jerry (04:32):
Sounds good.
And, uh, the process was shit.
How about you, Matt?
No.
Yeah, I do own a house,
Matt (04:37):
I do.
And
Jerry (04:37):
The, the process is tedious.
How long is it from when you putin the initial offer, uh, to
when you actually, uh, sign thecontract and, and the, and then
the keys are passed to you onaverage,
Matt (04:48):
it's about three times as long than the solicitor says
it's gonna be.
So they always go, oh yeah, wecould be.
Jerry (04:55):
conservative.
Matt (04:56):
Yeah, they always go, oh, we could be ready to exchange
in, uh, in about four weeks.
Four weeks come by And youhaven't received your initial
documents?
Um, I would say three months isthe quickest I've ever moved.
Yeah.
Yeah, the quickest.
Jerry (05:13):
that's on the tail end in the us
Matt (05:15):
Oh, okay.
Jerry (05:16):
at the pretty long time.
Matt (05:17):
just wanna get this shit done quickly, don't you?
Jerry (05:20):
Oh God.
I mean, yeah.
One would hope.
Normally it's a month, a month,maybe a
Matt (05:25):
no, no,
Jerry (05:25):
a
Matt (05:26):
no, no, no.
So we'll go.
It is, it is about 90 days.
Jerry (05:30):
Right.
Matt (05:31):
Um, and it's a painful process.
So I'll, I'll, I'll walk youthrough the, the British, well,
actually no, I'll walk youthrough the English because it's
slightly different in Scotlandand Wows and I don't know those,
so I don't wanna lie.
Um, but in England, um, so you,you go and put your offer in and
then the seller has to acceptit.
Now they.
(05:51):
They can decline any offer theylike.
They can decline.
They can decline it'cause theyjust don't like me.
Which, which is similar to jobinterviews if you go back to,
uh, last week, last week.
Um, but it might be that, saythey've got it up for, so the,
the UK average, average price isjust, is about a quarter of a
million roughly.
It's quite hard to gauge'causeobviously house up north, uh,
(06:12):
I'm not gonna get into aconversation about the North
right now, Jerry, we, we haven'tgot time, but up north they're
slightly cheaper.
Jerry (06:18):
in a couple
Matt (06:19):
Yeah.
Jerry (06:20):
no one, hopefully no one's heard this podcast in
Matt (06:22):
Yeah, there's some people from Asia coming over to the
Liverpool.
Um, and also like in London,obviously it's crazy prices, but
it averages out about quarter ofa million.
So say I put my bid in, they'reasking for quarter of a million.
I put in quarter of a million.
It used to be years ago that youalways bid over the asking.
It's not so much like that.
Now you can, you can pretty muchbid that.
(06:42):
Again, it all depends on thearea.
If it's like a flat in Londoncrazy office, um.
Now they've gotta accept.
Now, if I haven't sold a prop,my property and I'm not in a
position to move, they're quiterightly say, no thank you.
But then if they haven't had anyoffers for six months, they
might go, okay.
Um, so let's just say I've, I'vesold my house, I'm in this
position.
They accept, right?
(07:03):
So now they can take it off themarket.
They might do that.
The estate agent might ask forproof of funds or check that
I've got a mortgage offer forthat amount.
Just so check that I'm not, uh,a whack job just trying to.
Buy houses and I haven't got themoney, then I've got to uh, uh,
I've gotta engage with asolicitor, uh, a lawyer for our
US friends, but they're called aconveyancer.
So a conveyancer is someone thatfoul law school, I believe, and
(07:27):
they can just do property law.
So
Jerry (07:29):
Right,
Matt (07:29):
what they would do is, um.
You, you, they have differentfees, but let's say they're
between 500 a thousand poundsand they would just deal with
the paperwork.
But when I say deal with, theywould completely ignore all the
questions you send them.
At the same time, they wouldalso.
Miss all the vital ininformation that you're a
requiring.
(07:49):
Um, they might send out a packto the seller and likewise, and
I'm gonna probably get this fromthe buyer of, of my property,
and I have to fill out a load ofthings on it.
So it could be things like howmany bedrooms, what's included,
um, and then you go and getsearches done.
So then you pay for thesesearches to be done.
It's a really strange one.
So there's the basic ones whereyou can send someone to do a
(08:11):
foundational search on thehouse, but always, every time
I've done it, they come backhome and they paid for it.
Well, we can't actually checkthe foundations because we can't
dig up a house.
They know that because.
But yeah, they still charge forit and they come back going, so
anything we could say has to beverified.
So basically it's like they gallclause.
So they're saying the houseseems okay, but it could also
fall down and we're not liable.
So you get those searches done.
(08:33):
Uh, the mor, if you're getting amortgage, the mortgage might ask
for a valuation check just tocheck that if it's worth the
money you're asking for.
And then sometimes you get allthese other searches, like local
area searches that all dependenton the area.
Like I had to do one, uh, tocheck if I was liable to pay for
the local church roof if itcollapsed.
Um.
These sort of things like, andapparently I am, so if the local
(08:56):
church roof collapse, everyonein the area has to chip in to
get it paid.
There's so many silly littlesearches like that.
Uh, so you pay to get all themdone.
They get done.
And it could be things like, isit, is it built on an area
flooding?
They do flood searches as wellas I was up a hill.
Jerry (09:11):
Mm-hmm.
Matt (09:12):
pig's, pepper pig's house at the top of a hill.
So I'd be surprised if it didflood.
But again, the mortgage companycan.
Insist on it once that's alldone back and forth between
solicitors.
Um, and it's things like, oh, Ihad some windows changed 10
years ago.
Can I have a certificate forum?
No.
'cause I probably throw'em out.
So it's back and forth trying todig that out.
And it's these things that takeforever.
(09:33):
'cause they send a, an e, a, anemail, a letter, and a week
later you send it back.
Then they come back withsomething else and this is why
it's taking three months.
Eventually get into a positionwhere, right.
We're ready now.
We're getting close.
And you think this is now any,they go like any day now, which
means any month now.
And then, so once you've goteverything sorted, you come to
exchange.
(09:53):
So there could be a chain, therecould be sort of six people in
this chain'cause everyone'sbuying someone's house.
That exchange of contracts isbasically, you agree on the date
it's gonna gonna sell, and thenyou exchange the contracts.
Once you've exchanged, nowyou're committed.
So you can pull out up to theday you exchange, normally,
exchange to completion, Gil willtake, it's about a week.
'cause then you've gotta givetime for the mortgage companies
(10:14):
to transfer the funds and getthat ready.
But it, it technically you couldexchange complete on the same
day.
Legally.
There's nothing stopping you.
But it's normally, typicallyabout a week.
Um.
Jerry (10:25):
Yeah, that's, it's, that's a lengthy process.
We have similarities, obviouslythere's home inspections.
Um, the cost of title and thelegal aspect behind it.
Right.
but historically, the, therealtors here are pretty
aggressive.
they're, they're pushing thatprocess along the way because
they want to get paid as well,I'm assuming it's similar.
Um, and they're just kind ofsitting on their hands in the
Matt (10:46):
see, they, they do all the, all the, well, they call it
estate agents here,
Jerry (10:52):
mm-hmm.
Matt (10:52):
all they do is just email you and say, is there any
update?
And that's really all I feelI've ever had from estate
agents, so
Jerry (10:57):
No, no.
My
Matt (10:58):
I.
Jerry (10:59):
real estate agency, or they'll, they'll schedule the
home inspection on your behalf.
Matt (11:03):
No, no, no.
They, they, they would do theviewing and sometimes I've had
to do the viewing myself.
They do the viewing, um, andthen that's it, and then it is
all over to the sort ofsolicitors to do it.
So they, they get, they, it's ane it's an easy, it's an easy
money.
Um,
Jerry (11:19):
Yeah.
Matt (11:19):
it's, it's for the money you can get paid for the actual
hours of work you do.
Could be a good profit.
I mean, and what strange is,obviously they're called
realtors in uh, America, and youneed a license to do it.
Is that correct?
Jerry (11:31):
Correct.
You do need a license to do it.
It is, it
Matt (11:33):
What license still?
I'm not, I'm not driving.
I'm not, I'm not operating afirearm.
I'm licensed What?
To show someone around the housewhat my, what's my license to
get me.
Jerry (11:41):
I, I think it's more than that.
I, I think it's to alsounderstand all of the items that
you just mentioned, the homeinspection, uh, some of the
legalities behind it.
Mm-hmm.
Matt (11:52):
So it's because you are, 'cause you are getting involved
in more the finances.
So do you still have a, uh, alegal person involved, like a
lawyer or a solicitor?
Are they involved as well?
Jerry (12:01):
And you can provide your own, but historically the, the
realtor will, will provide onefor you.
Matt (12:05):
Okay.
And if I cut to American movies,they always put on like an open
house.
Um, we sometimes have openhouses here, but they're not
open houses.
An open house here means whatit'll do is,
Jerry (12:18):
by and see an open house sign and
Matt (12:20):
yeah.
But.
Jerry (12:21):
in to see what the home looks
Matt (12:22):
I've never done it because I don't drive around the US that
often.
But an open house here, whenthey, when people say they have
an open house, it just meansthey're can do all the viewings
on the same day, but they'renever at the same time.
So it might be an open househere.
Could be, right.
You are 12, you're 1230.
You are one.
You are one 30.
And they just wanna do theviewing for one day.
Where in America it's literallyan open house.
You walk in, have a look around,pick up a leaflet.
I like this.
Uh, have some of the cake.
Jerry (12:43):
yeah, yeah,
Matt (12:43):
And you walk out, don't you?
Jerry (12:45):
yeah,
Matt (12:46):
Is is it always like that or Some of them private
viewings.
Oh, okay.
Jerry (12:49):
are, there are, there are both.
And, and I think the privateviewings historically are more
so for higher ticket homes,right?
Matt (12:56):
Right.
Yeah.
Yeah.
Jerry (12:57):
Yeah.
But th this house here had a,uh, had an open house and we
bought it right at the beginningof COVID, which was an absolute
mess.
Right.
there was a line out the door,probably 25, 30 people by the
time we got here.
Matt (13:14):
And are most, is it are most open houses like that, or
it's just this was a great housefor the money in the area.
Jerry (13:22):
right now?
Um, depending on the area forsure.
Absolutely.
Matt (13:27):
What is, uh, so if you wanted some move in this area,
'cause obviously you are, you'vegot good links to, to Manhattan
and Jersey City.
Jerry (13:34):
Yeah, yeah,
Matt (13:34):
Uh, if a house went on sale, would it sort of sell
pretty much that day?
Would an offer be in by the endof that?
Jerry (13:42):
The home, the, the home that we're in now, uh, was, was
put online on a Saturday, wasput on the market on a Saturday
open house was Sunday.
They accepted our offer Monday,
Matt (13:54):
Okay.
Jerry (13:54):
and, and we had, we had an offer over asking, which is
actually pretty normal, uh,where I'm at.
Matt (14:00):
Yeah.
As I said, it is slowly, it'sgot down to the point where
it's, I haven't seen that somuch recently.
Sometimes, um, I have where it'sjust, it's, it was in a prime
location, but.
I haven't seen it as much as itused to be.
I do have a top tip for anyonelistening that wants to buy a
house, so house prices are quitebad at the moment, but I found a
good way if you wanna buy ahouse and it's either too
(14:23):
expensive or even in an areawhere there's a house not for
sale and you wanna buy it, ifyou go up to it and spray on the
front door, that will be on themarket within a week and at a
decent price as well.
Yeah.
Jerry (14:35):
It, it will,
Matt (14:35):
Yeah.
Jerry (14:36):
it will.
Now, once you move in, the, thestench will be there for a bit.
But what are you gonna do?
You
Matt (14:42):
Yeah, you are not, your neighbors aren't gonna come
around for a while because thehouse is tainted, but you know,
yeah.
Especially, no one's gonna lettheir kids come around and play.
Jerry (14:53):
How, how are you, how are you?
Uh.
When someone else buys a housein your, in your neighborhood,
or even when you've, like, howwere you received when you
walked in to your new house?
Do you introduce yourself to theneighbors?
Do you try to get acquainted?
Matt (15:08):
I don't, I didn't actually get to know a lot of my
neighbors until COVID, andthat's saying something'cause my
parents live in my road.
But, um, but when someone doesmove in now.
Jerry (15:19):
British sentence
Matt (15:20):
Yeah.
Yeah.
But when someone does move in,it is pretty much moving day.
You're looking out the windowlike what they got, who they,
who they got.
They got young family, they oldpeople, what's going on?
Um, and then there's the,there's the street what WhatsApp
group that goes around.
So if you can, I'm not on that.
I'm, I'm not allowed to be onthat because
Jerry (15:38):
on the, you're not on the Facebook Moms group.
Matt (15:40):
no, I'm not allowed to be on the WhatsApp street group
'cause um, I could tell peopleto fuck off too much in our
road.
So.
Jerry (15:46):
I could see that.
I could see you doing that.
Matt (15:47):
I'm not the face of the operation.
So put it that way.
In this household, I'm not theface, I am, I'm doing stuff in
the background, making surethat, you know,
Jerry (15:56):
in the background.
Matt (15:57):
you know, insurance is in place, making sure all the, all
the stuff ticking by and thehouse is running.
But the face of the house is notme.
I'm not the CEO of theoperation.
Jerry (16:04):
Yeah,
Matt (16:04):
And quite rightly, quite rightly, um, yeah.
So talk me through, I wanna buya house in America, obviously.
Talk me through it.
What, what's the, what's thestart to end process?
Jerry (16:14):
It's, it's all, it's all the, all the items that you just
mentioned.
Um, it's just moving at aquicker pace
Matt (16:19):
Yeah.
And there's no reason why itshouldn't.
Is there?
Jerry (16:22):
Yeah.
Yeah.
Um, I, the only thing I wouldadd is just water inspection.
So there's a lot of areas herethat get flooded.
Matt (16:28):
Yeah.
Jerry (16:29):
Luckily we're not in a flood zone, but they do have to
assess if you need floodinsurance.
There's property taxes, um, thatneed to, um, that need to get
assessed as well if there's beenany additions to the home.
Um, and then obviously, justbecause a lot of homes are
older, uh, I mean, not UK old,but I guess old here
Matt (16:47):
Because America's known for being one of the oldest
countries in the world, isn'tit?
Yeah.
Yeah.
Jerry (16:51):
60, 80, a hundred years old.
Matt (16:53):
Yeah.
Jerry (16:53):
Especially in more desirable neighborhoods.
Um, you, you probably have toget permits, uh, just to do some
changes, which is a hugedifferentiator from the uk.
What, what's the host?
If you wanted to add a pool toyour backyard or a deck, do you
need a permit?
Do you
Matt (17:10):
No, not so much
Jerry (17:12):
government and, and, and get some sort of okay
Matt (17:14):
there.
There's, there's probably about1% of people in the UK that are
adding pools onto their, intotheir yard.
A because
Jerry (17:20):
right.
Matt (17:20):
they're expensive.
And also we don't really havethe weather for it.
It's, it's not common that youcome to a house with, with a
pool
Jerry (17:26):
wanted to add a deck?
Matt (17:28):
a deck.
You just go and do that.
That's fine.
There's no, nothing needed.
So what it would be with, um.
Permits are normally if you'redoing an extension to the house,
like actually building out ontoit and making the house bigger.
Um, if you're building like a,let's call like a summer house,
those sort of log cabiningthings, you, they don't need
anything.
Um, especially as the companiesknow, they build'em to a size
(17:51):
where they're not.
So they can be as big as theywant, like footprint, but they
have to be under, I think it's2.8 meters.
So as long as roof height isbelow that, then.
There's no permit needed.
So it could be sort of a six bysix meter room in your garden if
you've got the space, but aslong as it's under 2.8 meters,
it's fine.
And that can go up to the fenceline at, at that height.
(18:11):
I think if it is bigger thanthat.
So let's say it's like a, adouble story again.
I think that's fine, but then ithas to be a certain amount of
meters away from your fence.
Um, and it can't be in the frontgarden.
It can only be in the backgarden as well.
So it is all these sort ofthings that you can't do
anything in the front.
It can all be in the back whereit's fenced off.
(18:32):
It's strange things like this,but no permits are needed, so.
Stuff like that.
Um, I did some stuff where weknocked some walls down inside.
Permits aren't needed for that,but if I was actually to extend
the house and build out on thefootprint of it, then yeah, I'd
need a permit.
Um, you go to property taxes, soyeah.
I forgot to mention, so whenyou, when you buy, you have to
pay a premium tax on a house aswell.
(18:53):
Do you have that as well?
Jerry (18:54):
We do not know.
Matt (18:56):
So it is, it's, uh, it's, it's a sliding scale, but it, I
think it's free up to 125,000.
Then there's, it might be 3% upto quarter of a million, and it
goes up like that and you, andyou pay the addition on, on
that.
So the, the route of like a sortof taxing system.
And then if it's your secondhome, there's like just a, an
automatic 3%, whatever that rateis, 3% on top of that as well.
(19:16):
So it's.
It could be sort of 10,000,15,000 pounds extra on, on your
cost.
You've got, you, you've justgotta plump out and you can't
put that on the mortgage either.
So it's not like some costs youcan put onto the mortgage, like
some fees, some mortgage fees,but, but that's straight on,
which is another hard hit.
That's why it's, they, theypeople, the people are moaning
(19:37):
that you can't get on theproperty ladder, sort of mid
thirties in the uk'cause you'dprobably need 50,000 pounds sort
of deposit, deposit taxes.
Fees, uh, solicitor fees,probably about 50,000 just to
sort of get maybe a quarter of amillion pounds flat.
Jerry (20:00):
Yeah, the, that initial premium is not,
Matt (20:03):
Not ideal.
Jerry (20:04):
especially for younger buyers.
Matt (20:05):
Yeah.
Who has, I mean, who has 50,000pounds sitting about, you know,
so it takes a while to save theup really, doesn't it?
So, um.
Jerry (20:13):
I, I, I guess also the feeling of when you first buy
that house, it's, I don't, it,it, it feels like you made it
right.
It, it kind of seems like in theUK it's like, oh, this, is this
a financial mistake?
Matt (20:26):
Hmm.
Jerry (20:26):
You're sort of second guessing yourself.
Matt (20:29):
Yeah, definitely.
'cause then you're committed,aren't you?
So, especially if you're tied inwith a mortgage, like my, your
mortgage could be locked in forfive years, so you can't sell
the house for five years withoutsome really hefty penalties.
So you know that you've gotta,you've gotta lease stay in that
house or stick that commitment.
But I suppose it's to say ifyou're renting anyway, rent
normally more than a mortgageanyway, so
Jerry (20:50):
it is.
It
Matt (20:50):
it's, yeah.
Jerry (20:52):
term, your mortgage payment will stay the same.
Matt (20:54):
Yeah.
Jerry (20:55):
con continue to go up,
Matt (20:56):
Uh, you say that, but obviously rates rates are
increased since, uh,
Jerry (21:00):
Yeah.
Matt (21:02):
I dunno, it's since COVID or since we had a Prime minister
that lasted 20 days every, Ithink it was probably from list
trust rates just shut up.
Um, and we had a sort of, a bitof a global inflation problem as
well.
But, so the rates went horrible.
They're starting to come down,but there, there, there's been
points when it was, especiallyin COVID, that they're just
trying to get people spending.
(21:22):
The rate was zero.
So like your mortgage could beyour mortgage, could be your
mortgage, could be free.
Or it might, some of it mighttrack like a quarter of a
percent over the rate.
So your, your mortgage rate waslike 0.25, so you're paying like
a a hundred pound mortgage.
But yeah, now sadly, you're not.
Jerry (21:39):
That's, that's the issue that I find myself in.
Our, uh, we're locked into avery good rate.
So it's difficult to, even if wewant a bigger space and we're
looking at homes, we have twokids now and we bought this
house planning to have kids,which is helpful.
We could be here for a while,but we are looking at bigger
homes.
The problem is, do I want to,you know, from such a low rate
(22:02):
to a much higher rate on,
Matt (22:05):
Uh, yeah.
So can you transfer,
Jerry (22:08):
payments.
Matt (22:08):
can you transfer that mortgage on that rate to another
property?
Jerry (22:12):
No, no.
There are some programs that doit, but it's incredibly
difficult
Matt (22:16):
Right.
So I think I could transfer, butsay I needed more money.
Normally when you're moving up,you need more money.
Then the, the additional onewould be a higher rate.
But I'm coming to the, I'mcoming to the end of my very
attractive rate, which I've hadfor a long time, and mortgage
rates aren't great at themoment, so I'm really hoping
these listeners we have in Asiasomehow monetize this business
and that pays for my mortgage.
Jerry (22:36):
The, so
Matt (22:36):
Yeah.
Jerry (22:37):
that's, that's also interesting.
Those, those, uh, structuredmortgages aren't really popular
anymore in the US where in theUK you could have a very low
rate or sort of like an introrate for five, maybe 10 years or
less, then you have torefinance.
Prior to that mortgage rategoing up, or you're just stuck
with that higher rate.
Is that true or,
Matt (22:58):
Yeah, so it's not really an intro rate.
It's more that's, so say, let'ssay the rate at the moment's
about 4%.
So you get your rate of 4% andyou lock it in for a certain
amount of time.
You say I want it for two years,four years, et cetera, depending
on how the rates are going.
Um.
If the rates are quite low, youmight not get such a, it might
(23:19):
be a slightly higher rate ifyou're looking for longer term.
'cause they think, okay, therates might may increase and
they get more money that way.
By the way, you lock it in andat the end of that term, your
mortgage ratio doesn't end.
But then it jumps up some stupidrate, which is.
It could double the rate, itcould jump up to 8%.
So what it does is once thatterm ends, you are free to, to
move to another one.
So then you, you go and look andsee what the, the local, the
(23:41):
best rate is at that time.
And you, and you get that one.
I mean, I dunno, I don't thinkanyone's forgetting their
mortgages coming to an end andjust accidentally paying the,
the three, you know, the doubleamount, the, the 8%.
But it's kind of like, if youdon't fix it, you, you don't
just default to the, the bestrate at the time.
It's they, you go to a sillyrate.
So what, how's it work then?
You say it's not like that withyou then so,
Jerry (24:03):
no, no.
So I mean, there are optionswhere you can do that here, but
historically you're just lookingat a fixed rate for 15, 20, or
30 years,
Matt (24:10):
and it won't change in those 15, 20 years.
Jerry (24:12):
and it just won't, you're just sort, you're locked in.
Again, we have structures thatwill essentially bubble, right?
Uh, the first five years, it'llbe a very solid rate, and then
you either have to refinance oryou're just stuck paying a
higher rate after set time.
Matt (24:25):
What's the, do you know what the, the.
Rough going Interest rate is inthe US at the moment.
Jerry (24:31):
Yeah.
Yeah.
The fed rate is sitting at 4.1,so mortgage rates are around
that 4.2, sorry, 5.2, 5.5 tosix, depending on your credit.
Matt (24:42):
Yeah.
Okay.
They track quite a bit higherthen, don't they?
Jerry (24:44):
Yeah, for
Matt (24:45):
A percentage.
1% higher.
Yeah.
Okay, so similar rates we'reabout, I think we're 3.75.
Depends when this goes out,
Jerry (24:52):
Yeah.
Matt (24:53):
but,
Jerry (24:53):
cut rates this year.
Matt (24:55):
okay.
I can get our team to look upthe interest, interest rate, but
Jerry (25:00):
Get, get Jamie on
Matt (25:01):
Jamie's on that.
It's just, it just seems latetoday.
I dunno where he is being, yeah,
Jerry (25:05):
I, I am a very simple American and there's still
something I can't wrap my headaround.
What is the whole freehold slashleasehold situation
Matt (25:15):
It's on my topic of conversation.
I'm glad you brought it up so Itake it, think.
Jerry (25:18):
absolutely kills me
Matt (25:20):
So,
Jerry (25:20):
that
Matt (25:21):
so I'll explain the difference for our listeners and
yourself, and you can tell me ifyou anything similar.
So there's two things, freeholdand leasehold.
Freehold is a, now it, it couldbe different situations, but
normally you'd find that withina, let's call it a house or
semi-detached house, leaseholdsare more in a flat or an
(25:41):
apartment where there'smultiple, multiple buildings
within that building.
Because what it is.
With a freehold.
You own, you own everything.
You own the bricks, the outside,you own that building with a
leasehold, although you arebuying it and it's, it looks as
though they're same much moneyas freehold.
(26:02):
You're really only buying the,the air and the space in those
bricks and the internal walls,but the actual, the actual
building isn't yours becauseit's really to, it protects the
buyers.
Because if you think, if youwere in a.
Uh, a flat and the flat abovejust collapsed in on itself.
(26:22):
You'd be thinking, well, hangon, that's damaging my property,
but why, why am I having to payto repair it?
So that's why, um, that's themain thing.
And also the leasehold, my maycharge you ground rent.
'cause there could be communalgrounds and then they wanna, you
pay some money and they fix thecommunal grounds.
Jerry (26:38):
this land?
Matt (26:40):
There could be a freeholder.
So normally if it's new, buildsa building flats, the, the, the
building invest of the house.
There'd be the, the, the,there'd be the freehold owner of
that because they own that landand they build these flats on
it.
You buy the flat and then youpay ground rent.
And that's kind of a main, andor, and sometimes a maintenance
charge.
And that's to keep all thecommunal air or the communal
hallways as well.
'cause you might have a communallift again up to your flat
(27:02):
again, if that broke, it's, youneed that sort of central
ownership to get that fixed.
That's the main idea of it.
Now you can sometimes see, ifyou look in, if you go on right,
move away, the property searchesare, you go in London, some
nicer, like not in hill.
You could see like a, a reallynice flat for sale, but it's
like.
It's like 60,000 pounds.
(27:22):
You're thinking why?
Why?
Because there's only about fiveyears left on the leasehold,
which means a no mortgagecompany will do, will give you a
mortgage on it.
They want solve a minimum ahundred, 200 years and then to
renew the the, and in five yearstime you just dunno that how
that flat anymore, it's justgone.
Then to then extend the leasehold on it for like another a
(27:43):
hundred years that could thencost maybe half a million or
something stupid like that.
So it's, it's.
Jerry (27:48):
are you paying this to?
To
Matt (27:50):
Who,
Jerry (27:50):
to the o
Matt (27:51):
who, whoever owns whoever owns the whole building.
So you think, you look at, youlook at a flat or apartment,
it's, it's in a building, isn'tit?
It's, it's, it's not literallyjust containers built on top of
it.
So whoever someone owns thatbuilding and within that have a
flat.
So really it's, it's, I dunnowhat, what's, what's the similar
situation in, in America ifyou've got flats for instance?
How does that work?
Jerry (28:12):
I mean, you pay an HOA, so you pay a fee for servicing
of the building and there'sinsurance involved, right?
So look to your, to your point,if the, the flat above collapses
into your apartment, right.
You just have propertyinsurance, we have homeowners
insurance, essentially, that'llsort that out.
I just, the, I I guess here younever really truly own your home
(28:35):
if you're still paying propertytaxes, right?
It, it's not To some extent, noone really owns it if you're
still paying property taxes.
But, but the thought of, I don'town the land that my physical
home, like, let's say it's asingle home I've even seen with
detached properties in the uk.
That there, there could be adifference between freehold and
Matt (28:54):
that's, that's very rare.
It's very rare.
Normally it's on a flat'causeyou think you can't own them.
If you're especially in themiddle flat and there's a flat
below you, well, you can't ownthe land that your flat's on
'cause there's a, there'ssomeone below you.
So that's what, that's wherethat comes in.
It's normally in an apartment ora flat.
Um, if it's a single house.
On a detached house on a land,I, I couldn't see it.
But also what you can do, youcan actually also be a share of
(29:15):
freehold.
So say there's three people in aflat, they can actually own the
three hold between them, so theysort of all own a third of it.
So sometimes you see that youmight, you might see share of
freehold, but yeah, lease hold,it's a.
And then you have that themanage, like what you call the H
Ho A, it's like that.
And that's like a committeethat's set up and you sort of
all vote on that and you, youvote how the spending's done and
(29:35):
it makes, selling a leaseholdflat is a lot harder than a
freehold one.
'cause then you have all thisaudits have to be done at the
lease leases.
Jerry (29:44):
Yeah.
Openly still incrediblyconfusing.
Uh,
Matt (29:47):
Yeah.
And I think on that note, Ithink we've, we've, I think
we've confused our listeners.
Uh, like what we like to do iswe like to leave you more
confused when you started, don'tyou?
So that you know that by the endof this, you know, how not to
purchase a house in twocountries, which is, this is
probably why our listener basedin Asia,'cause we are not
confusing them.
Jerry (30:05):
Wait, la last question.
If you have a moment, what isyour ideal home?
Matt (30:12):
I, I dunno that answer.
I mean, one, I don't have to payfor, I'm not, I'm not sure the
answer here.
Jerry (30:16):
right.
No, I mean, you know, what aresome of the must haves
Matt (30:19):
One without.
I, I don't like pedophilesprayed on the front door.
That's, that's really, yeah.
Yeah.
Um, I, I like parking off streetparking.
I don't want that, um, anxietyof having to put up outside,
front of find somewhere to park.
I know that I could just put upand park on my drive.
Um, a garden's nice that I don'tuse.
Um, uh, yeah.
(30:40):
What about yourself?
Jerry (30:41):
Uh, obviously I need some space.
Um, I'd like a good yard just'cause I like having a pool, um,
driveway with a garage, it snowshere.
It's easy to just get in andout, right?
Uh, but the most important forme is I like having a walkable
neighborhood.
It'd be nice to, to be able to,to walk three, four blocks in
(31:02):
their shops, cafes, restaurants,bars, uh, that we can take an
afternoon, evening stroll in,
Matt (31:10):
No, I get that.
I'm, I mean, I, I, I don't livein London, but I can commute to
London where some people I thinkon earth go,
Jerry (31:15):
right?
Matt (31:16):
oh, I have to live in London, I think, but I know
people in London, it took themlonger to get to the office than
it took me to get to the officewho lived in Kent, because I had
better transport links.
So that didn't really work, didit?
So.
Jerry (31:26):
Yeah.
It's similar to me.
I, I live 30 minutes from myoffice in, in Manhattan, and
there's folks that live inManhattan that take 40 minutes
to
Matt (31:35):
And do you have a decent night bus into the city from
your house?
Jerry (31:39):
Yeah, I have both.
So I have a bus and the train.
Matt (31:42):
Okay.
And can you take a crap on bothof them?
Jerry (31:47):
I, this is America.
I can do whatever I like.
No.
Uh,
Matt (31:50):
God bless America.
Jerry (31:51):
it, God bless America.
I can do what I please.
America?
Matt (31:54):
What, what and what amendment is that?
I can't remember The amendmentwhere you could crap anywhere
you liked.
Jerry (31:58):
taking amendment.
I'm not quite sure what the shittaking amendment is.
I'm sure the, we, Jamie, can youpull up the constitution?
No.
Um, uh, yeah, the, the train hastoilets, so it's pretty solid.
Uh, the bus not so much.
Yeah.
Matt (32:14):
Well, that's our, that's our travel tip here.
If you are prone to shitingyourself, get the train.
Jerry (32:19):
Correct, correct.
Or, or have an imagination.
Baby.
The world is yours.
Matt (32:24):
Yeah.
Okay.
On that though, I think, uh,
Jerry (32:28):
Yeah.
Matt (32:30):
we'll catch up next week.
All right.
Have a good week, Jerry.
Jerry (32:32):
up next week, sir.
Cheers.
Matt (32:34):
Thanks for listening.
Bye.
And we're live.
Um, welcome to today's show,Jerry.
How you going?
Jerry (00:12):
We're doing quite well.
Uh, good morning here.
I'm assuming, uh, it was a goodafternoon.
Matt (00:17):
It is, and here's what's coming up on today's show, I had
that idea where I was taking acrap earlier, so I thought, ah,
but then,
Jerry (00:23):
that's when the best ideas come about.
So,
Matt (00:25):
yeah.
Jerry (00:26):
I'm sure it was a great one.
Matt (00:27):
Uh, it was a weird bus journey, but, but you know,
still, if you wanna buy a houseand it's either too expensive or
even in an area where there's ahouse not for sale and you wanna
buy it, if you go up to it andspray on the front door, that
will be on the market within aweek well, that all sounds
exciting, even though weforeshadowed, so technically we
don't actually know what'scoming up in today's show at
(00:48):
this point.
It's like time travel, isn't it?
It's like back to the future.
But I'm sure what I'm sure,whatever we've just said coming
up in today's show, I'm sureit's really good.
Otherwise, why would we put itin there as a, as a trailer?
I had that idea where I wastaking a crap earlier, so I
thought, ah, but then,
Jerry (01:06):
that's when the best ideas come about.
So,
Matt (01:07):
yeah.
Jerry (01:08):
I'm sure it was a great one.
Matt (01:10):
Uh, it was a weird bus journey, but, but you know,
still, uh, so, uh, we're gonnacrack on.
Jerry (01:18):
do, uh,
Matt (01:19):
no, we're not.
Jerry (01:19):
in the UK have toilets?
Matt (01:20):
They don't, they do not.
Coaches do buses.
Do not.
Jerry (01:24):
it.
Matt (01:24):
buses in
Jerry (01:25):
ass buses.
Matt (01:26):
the buses, uh, in America have toilets.
Jerry (01:30):
Other coach buses.
Yeah.
Matt (01:32):
coach.
Yeah, a coach.
If you're going long distance.
Yeah, long haul.
Yeah.
A coach.
Coach is long haul, normally hasa little TV screen so you can
watch sort of thing.
Jerry (01:39):
be fair, a bathroom is what you make it,
Matt (01:42):
That's true, that's true.
I mean, I've some, I've seensome people on the night bus and
they've, they've definitelyfound the toilet.
So
Jerry (01:48):
They just have, they have a better imagination than we do.
Matt (01:51):
They do.
They do.
Yeah.
So that's not what today'ssubject is, is it?
Jerry (01:55):
It
Matt (01:56):
think it is.
It's not taking a crap on a bus,is it?
Let me check my notes.
I, I, I believe that's nextweek, I believe.
Today we're gonna talk about,uh, purchasing houses.
Uh, the difference betweenpurchasing a house in the UK and
the US'cause I'm sure it's, it'sstress free what whatever
country you live in,
Jerry (02:14):
Yeah.
Yeah, I'm sure.
I'm sure especially now, doesn't
Matt (02:16):
I.
Jerry (02:16):
where you are, it's just more expensive as well.
Matt (02:19):
I mean, I'd like some of our, um, some of our listeners
to write in and tell us whatcountry they're from and also
how they buy houses like allover the globe.
I'd like to hear those stories,which reminds me if we always
say this, we don't actually giveany details how to contact us.
We are on Instagram at AtlanticExchange Pod.
You can contact us there.
There are other means of socialmedia.
(02:39):
We just haven't been bothered toset'em up yet, but for the time
being.
Fill your boots.
Um,
Jerry (02:45):
Yeah,
Matt (02:45):
I, I was actually looking at our stats.
Do you know we have a listenerin Asia?
Jerry (02:49):
we do.
Matt (02:50):
We do, I don't know.
Hello?
I dunno where in Asia.
It's only given me con the, theJewish continent.
So I'm not gonna mock an accentbecause A, um, that would be
racist and get me canceled.
And also I could be thousands ofmiles off.
Asia could technically be partsof Turkey.
Jerry (03:08):
exactly?
Did did it.
It didn't say the exact country.
Matt (03:11):
It just said Asia.
I dunno if I can drill down.
Technology is new to me.
Um, but I'd be interested tosee, and I, I think they've
listened to more than oneepisode.
So they, they've either gotcompletely the wrong podcast and
they're thinking, oh, thisparenting hell with Rob Beckett
and Josh Whitaker.
It's not the podcast I thoughtit was.
Or they, uh, they're reallyenjoying this, uh, Atlantic
(03:33):
Exchange banter going on.
Jerry (03:34):
I, I, I hope so.
I hope they remain and refer usto friends.
Matt (03:38):
And I hope they, please, please tell your friends about
us and let's, let's doublethose.
Listen figures, figures in Asia,you never know.
Cut to next year we might bedoing a tour of Asia.
Jerry (03:47):
that's true.
Very unlikely.
But yes,
Matt (03:49):
Yeah.
I'd like to dream big.
Jerry (03:51):
the most, by the way, Matt is the most enthusiastic,
uh, non-realistic Brit outthere.
Matt (03:58):
Oh yeah, definitely.
I, I, I'm, I daydream.
I, yeah.
Jerry (04:01):
Oh yeah.
You are an absolute daydreamer.
Matt (04:04):
was already thinking about how, uh, next month we go to
Liverpool to meet John Cena, howI'm gonna pitch business ideas
to him.
So how, how do we get him onthis podcast?
Jerry (04:14):
would love
Matt (04:15):
Yeah.
Jerry (04:15):
there's a line of a thousand people
Matt (04:18):
Me pitching some,
Jerry (04:19):
walking, like Shark Tank.
Matt (04:20):
yeah.
Dress like Alan Sugar.
Uh, it's a house buying.
So, uh, do you own a house?
Jerry (04:29):
I do own a house.
Matt (04:30):
Great show.
See, see you next week everyone.
Jerry (04:32):
Sounds good.
And, uh, the process was shit.
How about you, Matt?
No.
Yeah, I do own a house,
Matt (04:37):
I do.
And
Jerry (04:37):
The, the process is tedious.
How long is it from when you putin the initial offer, uh, to
when you actually, uh, sign thecontract and, and the, and then
the keys are passed to you onaverage,
Matt (04:48):
it's about three times as long than the solicitor says
it's gonna be.
So they always go, oh yeah, wecould be.
Jerry (04:55):
conservative.
Matt (04:56):
Yeah, they always go, oh, we could be ready to exchange
in, uh, in about four weeks.
Four weeks come by And youhaven't received your initial
documents?
Um, I would say three months isthe quickest I've ever moved.
Yeah.
Yeah, the quickest.
Jerry (05:13):
that's on the tail end in the us
Matt (05:15):
Oh, okay.
Jerry (05:16):
at the pretty long time.
Matt (05:17):
just wanna get this shit done quickly, don't you?
Jerry (05:20):
Oh God.
I mean, yeah.
One would hope.
Normally it's a month, a month,maybe a
Matt (05:25):
no, no,
Jerry (05:25):
a
Matt (05:26):
no, no, no.
So we'll go.
It is, it is about 90 days.
Jerry (05:30):
Right.
Matt (05:31):
Um, and it's a painful process.
So I'll, I'll, I'll walk youthrough the, the British, well,
actually no, I'll walk youthrough the English because it's
slightly different in Scotlandand Wows and I don't know those,
so I don't wanna lie.
Um, but in England, um, so you,you go and put your offer in and
then the seller has to acceptit.
Now they.
(05:51):
They can decline any offer theylike.
They can decline.
They can decline it'cause theyjust don't like me.
Which, which is similar to jobinterviews if you go back to,
uh, last week, last week.
Um, but it might be that, saythey've got it up for, so the,
the UK average, average price isjust, is about a quarter of a
million roughly.
It's quite hard to gauge'causeobviously house up north, uh,
(06:12):
I'm not gonna get into aconversation about the North
right now, Jerry, we, we haven'tgot time, but up north they're
slightly cheaper.
Jerry (06:18):
in a couple
Matt (06:19):
Yeah.
Jerry (06:20):
no one, hopefully no one's heard this podcast in
Matt (06:22):
Yeah, there's some people from Asia coming over to the
Liverpool.
Um, and also like in London,obviously it's crazy prices, but
it averages out about quarter ofa million.
So say I put my bid in, they'reasking for quarter of a million.
I put in quarter of a million.
It used to be years ago that youalways bid over the asking.
It's not so much like that.
Now you can, you can pretty muchbid that.
(06:42):
Again, it all depends on thearea.
If it's like a flat in Londoncrazy office, um.
Now they've gotta accept.
Now, if I haven't sold a prop,my property and I'm not in a
position to move, they're quiterightly say, no thank you.
But then if they haven't had anyoffers for six months, they
might go, okay.
Um, so let's just say I've, I'vesold my house, I'm in this
position.
They accept, right?
(07:03):
So now they can take it off themarket.
They might do that.
The estate agent might ask forproof of funds or check that
I've got a mortgage offer forthat amount.
Just so check that I'm not, uh,a whack job just trying to.
Buy houses and I haven't got themoney, then I've got to uh, uh,
I've gotta engage with asolicitor, uh, a lawyer for our
US friends, but they're called aconveyancer.
So a conveyancer is someone thatfoul law school, I believe, and
(07:27):
they can just do property law.
So
Jerry (07:29):
Right,
Matt (07:29):
what they would do is, um.
You, you, they have differentfees, but let's say they're
between 500 a thousand poundsand they would just deal with
the paperwork.
But when I say deal with, theywould completely ignore all the
questions you send them.
At the same time, they wouldalso.
Miss all the vital ininformation that you're a
requiring.
(07:49):
Um, they might send out a packto the seller and likewise, and
I'm gonna probably get this fromthe buyer of, of my property,
and I have to fill out a load ofthings on it.
So it could be things like howmany bedrooms, what's included,
um, and then you go and getsearches done.
So then you pay for thesesearches to be done.
It's a really strange one.
So there's the basic ones whereyou can send someone to do a
(08:11):
foundational search on thehouse, but always, every time
I've done it, they come backhome and they paid for it.
Well, we can't actually checkthe foundations because we can't
dig up a house.
They know that because.
But yeah, they still charge forit and they come back going, so
anything we could say has to beverified.
So basically it's like they gallclause.
So they're saying the houseseems okay, but it could also
fall down and we're not liable.
So you get those searches done.
(08:33):
Uh, the mor, if you're getting amortgage, the mortgage might ask
for a valuation check just tocheck that if it's worth the
money you're asking for.
And then sometimes you get allthese other searches, like local
area searches that all dependenton the area.
Like I had to do one, uh, tocheck if I was liable to pay for
the local church roof if itcollapsed.
Um.
These sort of things like, andapparently I am, so if the local
(08:56):
church roof collapse, everyonein the area has to chip in to
get it paid.
There's so many silly littlesearches like that.
Uh, so you pay to get all themdone.
They get done.
And it could be things like, isit, is it built on an area
flooding?
They do flood searches as wellas I was up a hill.
Jerry (09:11):
Mm-hmm.
Matt (09:12):
pig's, pepper pig's house at the top of a hill.
So I'd be surprised if it didflood.
But again, the mortgage companycan.
Insist on it once that's alldone back and forth between
solicitors.
Um, and it's things like, oh, Ihad some windows changed 10
years ago.
Can I have a certificate forum?
No.
'cause I probably throw'em out.
So it's back and forth trying todig that out.
And it's these things that takeforever.
(09:33):
'cause they send a, an e, a, anemail, a letter, and a week
later you send it back.
Then they come back withsomething else and this is why
it's taking three months.
Eventually get into a positionwhere, right.
We're ready now.
We're getting close.
And you think this is now any,they go like any day now, which
means any month now.
And then, so once you've goteverything sorted, you come to
exchange.
(09:53):
So there could be a chain, therecould be sort of six people in
this chain'cause everyone'sbuying someone's house.
That exchange of contracts isbasically, you agree on the date
it's gonna gonna sell, and thenyou exchange the contracts.
Once you've exchanged, nowyou're committed.
So you can pull out up to theday you exchange, normally,
exchange to completion, Gil willtake, it's about a week.
'cause then you've gotta givetime for the mortgage companies
(10:14):
to transfer the funds and getthat ready.
But it, it technically you couldexchange complete on the same
day.
Legally.
There's nothing stopping you.
But it's normally, typicallyabout a week.
Um.
Jerry (10:25):
Yeah, that's, it's, that's a lengthy process.
We have similarities, obviouslythere's home inspections.
Um, the cost of title and thelegal aspect behind it.
Right.
but historically, the, therealtors here are pretty
aggressive.
they're, they're pushing thatprocess along the way because
they want to get paid as well,I'm assuming it's similar.
Um, and they're just kind ofsitting on their hands in the
Matt (10:46):
see, they, they do all the, all the, well, they call it
estate agents here,
Jerry (10:52):
mm-hmm.
Matt (10:52):
all they do is just email you and say, is there any
update?
And that's really all I feelI've ever had from estate
agents, so
Jerry (10:57):
No, no.
My
Matt (10:58):
I.
Jerry (10:59):
real estate agency, or they'll, they'll schedule the
home inspection on your behalf.
Matt (11:03):
No, no, no.
They, they, they would do theviewing and sometimes I've had
to do the viewing myself.
They do the viewing, um, andthen that's it, and then it is
all over to the sort ofsolicitors to do it.
So they, they get, they, it's ane it's an easy, it's an easy
money.
Um,
Jerry (11:19):
Yeah.
Matt (11:19):
it's, it's for the money you can get paid for the actual
hours of work you do.
Could be a good profit.
I mean, and what strange is,obviously they're called
realtors in uh, America, and youneed a license to do it.
Is that correct?
Jerry (11:31):
Correct.
You do need a license to do it.
It is, it
Matt (11:33):
What license still?
I'm not, I'm not driving.
I'm not, I'm not operating afirearm.
I'm licensed What?
To show someone around the housewhat my, what's my license to
get me.
Jerry (11:41):
I, I think it's more than that.
I, I think it's to alsounderstand all of the items that
you just mentioned, the homeinspection, uh, some of the
legalities behind it.
Mm-hmm.
Matt (11:52):
So it's because you are, 'cause you are getting involved
in more the finances.
So do you still have a, uh, alegal person involved, like a
lawyer or a solicitor?
Are they involved as well?
Jerry (12:01):
And you can provide your own, but historically the, the
realtor will, will provide onefor you.
Matt (12:05):
Okay.
And if I cut to American movies,they always put on like an open
house.
Um, we sometimes have openhouses here, but they're not
open houses.
An open house here means whatit'll do is,
Jerry (12:18):
by and see an open house sign and
Matt (12:20):
yeah.
But.
Jerry (12:21):
in to see what the home looks
Matt (12:22):
I've never done it because I don't drive around the US that
often.
But an open house here, whenthey, when people say they have
an open house, it just meansthey're can do all the viewings
on the same day, but they'renever at the same time.
So it might be an open househere.
Could be, right.
You are 12, you're 1230.
You are one.
You are one 30.
And they just wanna do theviewing for one day.
Where in America it's literallyan open house.
You walk in, have a look around,pick up a leaflet.
I like this.
Uh, have some of the cake.
Jerry (12:43):
yeah, yeah,
Matt (12:43):
And you walk out, don't you?
Jerry (12:45):
yeah,
Matt (12:46):
Is is it always like that or Some of them private
viewings.
Oh, okay.
Jerry (12:49):
are, there are, there are both.
And, and I think the privateviewings historically are more
so for higher ticket homes,right?
Matt (12:56):
Right.
Yeah.
Yeah.
Jerry (12:57):
Yeah.
But th this house here had a,uh, had an open house and we
bought it right at the beginningof COVID, which was an absolute
mess.
Right.
there was a line out the door,probably 25, 30 people by the
time we got here.
Matt (13:14):
And are most, is it are most open houses like that, or
it's just this was a great housefor the money in the area.
Jerry (13:22):
right now?
Um, depending on the area forsure.
Absolutely.
Matt (13:27):
What is, uh, so if you wanted some move in this area,
'cause obviously you are, you'vegot good links to, to Manhattan
and Jersey City.
Jerry (13:34):
Yeah, yeah,
Matt (13:34):
Uh, if a house went on sale, would it sort of sell
pretty much that day?
Would an offer be in by the endof that?
Jerry (13:42):
The home, the, the home that we're in now, uh, was, was
put online on a Saturday, wasput on the market on a Saturday
open house was Sunday.
They accepted our offer Monday,
Matt (13:54):
Okay.
Jerry (13:54):
and, and we had, we had an offer over asking, which is
actually pretty normal, uh,where I'm at.
Matt (14:00):
Yeah.
As I said, it is slowly, it'sgot down to the point where
it's, I haven't seen that somuch recently.
Sometimes, um, I have where it'sjust, it's, it was in a prime
location, but.
I haven't seen it as much as itused to be.
I do have a top tip for anyonelistening that wants to buy a
house, so house prices are quitebad at the moment, but I found a
good way if you wanna buy ahouse and it's either too
(14:23):
expensive or even in an areawhere there's a house not for
sale and you wanna buy it, ifyou go up to it and spray on the
front door, that will be on themarket within a week and at a
decent price as well.
Yeah.
Jerry (14:35):
It, it will,
Matt (14:35):
Yeah.
Jerry (14:36):
it will.
Now, once you move in, the, thestench will be there for a bit.
But what are you gonna do?
You
Matt (14:42):
Yeah, you are not, your neighbors aren't gonna come
around for a while because thehouse is tainted, but you know,
yeah.
Especially, no one's gonna lettheir kids come around and play.
Jerry (14:53):
How, how are you, how are you?
Uh.
When someone else buys a housein your, in your neighborhood,
or even when you've, like, howwere you received when you
walked in to your new house?
Do you introduce yourself to theneighbors?
Do you try to get acquainted?
Matt (15:08):
I don't, I didn't actually get to know a lot of my
neighbors until COVID, andthat's saying something'cause my
parents live in my road.
But, um, but when someone doesmove in now.
Jerry (15:19):
British sentence
Matt (15:20):
Yeah.
Yeah.
But when someone does move in,it is pretty much moving day.
You're looking out the windowlike what they got, who they,
who they got.
They got young family, they oldpeople, what's going on?
Um, and then there's the,there's the street what WhatsApp
group that goes around.
So if you can, I'm not on that.
I'm, I'm not allowed to be onthat because
Jerry (15:38):
on the, you're not on the Facebook Moms group.
Matt (15:40):
no, I'm not allowed to be on the WhatsApp street group
'cause um, I could tell peopleto fuck off too much in our
road.
So.
Jerry (15:46):
I could see that.
I could see you doing that.
Matt (15:47):
I'm not the face of the operation.
So put it that way.
In this household, I'm not theface, I am, I'm doing stuff in
the background, making surethat, you know,
Jerry (15:56):
in the background.
Matt (15:57):
you know, insurance is in place, making sure all the, all
the stuff ticking by and thehouse is running.
But the face of the house is notme.
I'm not the CEO of theoperation.
Jerry (16:04):
Yeah,
Matt (16:04):
And quite rightly, quite rightly, um, yeah.
So talk me through, I wanna buya house in America, obviously.
Talk me through it.
What, what's the, what's thestart to end process?
Jerry (16:14):
It's, it's all, it's all the, all the items that you just
mentioned.
Um, it's just moving at aquicker pace
Matt (16:19):
Yeah.
And there's no reason why itshouldn't.
Is there?
Jerry (16:22):
Yeah.
Yeah.
Um, I, the only thing I wouldadd is just water inspection.
So there's a lot of areas herethat get flooded.
Matt (16:28):
Yeah.
Jerry (16:29):
Luckily we're not in a flood zone, but they do have to
assess if you need floodinsurance.
There's property taxes, um, thatneed to, um, that need to get
assessed as well if there's beenany additions to the home.
Um, and then obviously, justbecause a lot of homes are
older, uh, I mean, not UK old,but I guess old here
Matt (16:47):
Because America's known for being one of the oldest
countries in the world, isn'tit?
Yeah.
Yeah.
Jerry (16:51):
60, 80, a hundred years old.
Matt (16:53):
Yeah.
Jerry (16:53):
Especially in more desirable neighborhoods.
Um, you, you probably have toget permits, uh, just to do some
changes, which is a hugedifferentiator from the uk.
What, what's the host?
If you wanted to add a pool toyour backyard or a deck, do you
need a permit?
Do you
Matt (17:10):
No, not so much
Jerry (17:12):
government and, and, and get some sort of okay
Matt (17:14):
there.
There's, there's probably about1% of people in the UK that are
adding pools onto their, intotheir yard.
A because
Jerry (17:20):
right.
Matt (17:20):
they're expensive.
And also we don't really havethe weather for it.
It's, it's not common that youcome to a house with, with a
pool
Jerry (17:26):
wanted to add a deck?
Matt (17:28):
a deck.
You just go and do that.
That's fine.
There's no, nothing needed.
So what it would be with, um.
Permits are normally if you'redoing an extension to the house,
like actually building out ontoit and making the house bigger.
Um, if you're building like a,let's call like a summer house,
those sort of log cabiningthings, you, they don't need
anything.
Um, especially as the companiesknow, they build'em to a size
(17:51):
where they're not.
So they can be as big as theywant, like footprint, but they
have to be under, I think it's2.8 meters.
So as long as roof height isbelow that, then.
There's no permit needed.
So it could be sort of a six bysix meter room in your garden if
you've got the space, but aslong as it's under 2.8 meters,
it's fine.
And that can go up to the fenceline at, at that height.
(18:11):
I think if it is bigger thanthat.
So let's say it's like a, adouble story again.
I think that's fine, but then ithas to be a certain amount of
meters away from your fence.
Um, and it can't be in the frontgarden.
It can only be in the backgarden as well.
So it is all these sort ofthings that you can't do
anything in the front.
It can all be in the back whereit's fenced off.
(18:32):
It's strange things like this,but no permits are needed, so.
Stuff like that.
Um, I did some stuff where weknocked some walls down inside.
Permits aren't needed for that,but if I was actually to extend
the house and build out on thefootprint of it, then yeah, I'd
need a permit.
Um, you go to property taxes, soyeah.
I forgot to mention, so whenyou, when you buy, you have to
pay a premium tax on a house aswell.
(18:53):
Do you have that as well?
Jerry (18:54):
We do not know.
Matt (18:56):
So it is, it's, uh, it's, it's a sliding scale, but it, I
think it's free up to 125,000.
Then there's, it might be 3% upto quarter of a million, and it
goes up like that and you, andyou pay the addition on, on
that.
So the, the route of like a sortof taxing system.
And then if it's your secondhome, there's like just a, an
automatic 3%, whatever that rateis, 3% on top of that as well.
(19:16):
So it's.
It could be sort of 10,000,15,000 pounds extra on, on your
cost.
You've got, you, you've justgotta plump out and you can't
put that on the mortgage either.
So it's not like some costs youcan put onto the mortgage, like
some fees, some mortgage fees,but, but that's straight on,
which is another hard hit.
That's why it's, they, theypeople, the people are moaning
(19:37):
that you can't get on theproperty ladder, sort of mid
thirties in the uk'cause you'dprobably need 50,000 pounds sort
of deposit, deposit taxes.
Fees, uh, solicitor fees,probably about 50,000 just to
sort of get maybe a quarter of amillion pounds flat.
Jerry (20:00):
Yeah, the, that initial premium is not,
Matt (20:03):
Not ideal.
Jerry (20:04):
especially for younger buyers.
Matt (20:05):
Yeah.
Who has, I mean, who has 50,000pounds sitting about, you know,
so it takes a while to save theup really, doesn't it?
So, um.
Jerry (20:13):
I, I, I guess also the feeling of when you first buy
that house, it's, I don't, it,it, it feels like you made it
right.
It, it kind of seems like in theUK it's like, oh, this, is this
a financial mistake?
Matt (20:26):
Hmm.
Jerry (20:26):
You're sort of second guessing yourself.
Matt (20:29):
Yeah, definitely.
'cause then you're committed,aren't you?
So, especially if you're tied inwith a mortgage, like my, your
mortgage could be locked in forfive years, so you can't sell
the house for five years withoutsome really hefty penalties.
So you know that you've gotta,you've gotta lease stay in that
house or stick that commitment.
But I suppose it's to say ifyou're renting anyway, rent
normally more than a mortgageanyway, so
Jerry (20:50):
it is.
It
Matt (20:50):
it's, yeah.
Jerry (20:52):
term, your mortgage payment will stay the same.
Matt (20:54):
Yeah.
Jerry (20:55):
con continue to go up,
Matt (20:56):
Uh, you say that, but obviously rates rates are
increased since, uh,
Jerry (21:00):
Yeah.
Matt (21:02):
I dunno, it's since COVID or since we had a Prime minister
that lasted 20 days every, Ithink it was probably from list
trust rates just shut up.
Um, and we had a sort of, a bitof a global inflation problem as
well.
But, so the rates went horrible.
They're starting to come down,but there, there, there's been
points when it was, especiallyin COVID, that they're just
trying to get people spending.
(21:22):
The rate was zero.
So like your mortgage could beyour mortgage, could be your
mortgage, could be free.
Or it might, some of it mighttrack like a quarter of a
percent over the rate.
So your, your mortgage rate waslike 0.25, so you're paying like
a a hundred pound mortgage.
But yeah, now sadly, you're not.
Jerry (21:39):
That's, that's the issue that I find myself in.
Our, uh, we're locked into avery good rate.
So it's difficult to, even if wewant a bigger space and we're
looking at homes, we have twokids now and we bought this
house planning to have kids,which is helpful.
We could be here for a while,but we are looking at bigger
homes.
The problem is, do I want to,you know, from such a low rate
(22:02):
to a much higher rate on,
Matt (22:05):
Uh, yeah.
So can you transfer,
Jerry (22:08):
payments.
Matt (22:08):
can you transfer that mortgage on that rate to another
property?
Jerry (22:12):
No, no.
There are some programs that doit, but it's incredibly
difficult
Matt (22:16):
Right.
So I think I could transfer, butsay I needed more money.
Normally when you're moving up,you need more money.
Then the, the additional onewould be a higher rate.
But I'm coming to the, I'mcoming to the end of my very
attractive rate, which I've hadfor a long time, and mortgage
rates aren't great at themoment, so I'm really hoping
these listeners we have in Asiasomehow monetize this business
and that pays for my mortgage.
Jerry (22:36):
The, so
Matt (22:36):
Yeah.
Jerry (22:37):
that's, that's also interesting.
Those, those, uh, structuredmortgages aren't really popular
anymore in the US where in theUK you could have a very low
rate or sort of like an introrate for five, maybe 10 years or
less, then you have torefinance.
Prior to that mortgage rategoing up, or you're just stuck
with that higher rate.
Is that true or,
Matt (22:58):
Yeah, so it's not really an intro rate.
It's more that's, so say, let'ssay the rate at the moment's
about 4%.
So you get your rate of 4% andyou lock it in for a certain
amount of time.
You say I want it for two years,four years, et cetera, depending
on how the rates are going.
Um.
If the rates are quite low, youmight not get such a, it might
(23:19):
be a slightly higher rate ifyou're looking for longer term.
'cause they think, okay, therates might may increase and
they get more money that way.
By the way, you lock it in andat the end of that term, your
mortgage ratio doesn't end.
But then it jumps up some stupidrate, which is.
It could double the rate, itcould jump up to 8%.
So what it does is once thatterm ends, you are free to, to
move to another one.
So then you, you go and look andsee what the, the local, the
(23:41):
best rate is at that time.
And you, and you get that one.
I mean, I dunno, I don't thinkanyone's forgetting their
mortgages coming to an end andjust accidentally paying the,
the three, you know, the doubleamount, the, the 8%.
But it's kind of like, if youdon't fix it, you, you don't
just default to the, the bestrate at the time.
It's they, you go to a sillyrate.
So what, how's it work then?
You say it's not like that withyou then so,
Jerry (24:03):
no, no.
So I mean, there are optionswhere you can do that here, but
historically you're just lookingat a fixed rate for 15, 20, or
30 years,
Matt (24:10):
and it won't change in those 15, 20 years.
Jerry (24:12):
and it just won't, you're just sort, you're locked in.
Again, we have structures thatwill essentially bubble, right?
Uh, the first five years, it'llbe a very solid rate, and then
you either have to refinance oryou're just stuck paying a
higher rate after set time.
Matt (24:25):
What's the, do you know what the, the.
Rough going Interest rate is inthe US at the moment.
Jerry (24:31):
Yeah.
Yeah.
The fed rate is sitting at 4.1,so mortgage rates are around
that 4.2, sorry, 5.2, 5.5 tosix, depending on your credit.
Matt (24:42):
Yeah.
Okay.
They track quite a bit higherthen, don't they?
Jerry (24:44):
Yeah, for
Matt (24:45):
A percentage.
1% higher.
Yeah.
Okay, so similar rates we'reabout, I think we're 3.75.
Depends when this goes out,
Jerry (24:52):
Yeah.
Matt (24:53):
but,
Jerry (24:53):
cut rates this year.
Matt (24:55):
okay.
I can get our team to look upthe interest, interest rate, but
Jerry (25:00):
Get, get Jamie on
Matt (25:01):
Jamie's on that.
It's just, it just seems latetoday.
I dunno where he is being, yeah,
Jerry (25:05):
I, I am a very simple American and there's still
something I can't wrap my headaround.
What is the whole freehold slashleasehold situation
Matt (25:15):
It's on my topic of conversation.
I'm glad you brought it up so Itake it, think.
Jerry (25:18):
absolutely kills me
Matt (25:20):
So,
Jerry (25:20):
that
Matt (25:21):
so I'll explain the difference for our listeners and
yourself, and you can tell me ifyou anything similar.
So there's two things, freeholdand leasehold.
Freehold is a, now it, it couldbe different situations, but
normally you'd find that withina, let's call it a house or
semi-detached house, leaseholdsare more in a flat or an
(25:41):
apartment where there'smultiple, multiple buildings
within that building.
Because what it is.
With a freehold.
You own, you own everything.
You own the bricks, the outside,you own that building with a
leasehold, although you arebuying it and it's, it looks as
though they're same much moneyas freehold.
(26:02):
You're really only buying the,the air and the space in those
bricks and the internal walls,but the actual, the actual
building isn't yours becauseit's really to, it protects the
buyers.
Because if you think, if youwere in a.
Uh, a flat and the flat abovejust collapsed in on itself.
(26:22):
You'd be thinking, well, hangon, that's damaging my property,
but why, why am I having to payto repair it?
So that's why, um, that's themain thing.
And also the leasehold, my maycharge you ground rent.
'cause there could be communalgrounds and then they wanna, you
pay some money and they fix thecommunal grounds.
Jerry (26:38):
this land?
Matt (26:40):
There could be a freeholder.
So normally if it's new, buildsa building flats, the, the, the
building invest of the house.
There'd be the, the, the,there'd be the freehold owner of
that because they own that landand they build these flats on
it.
You buy the flat and then youpay ground rent.
And that's kind of a main, andor, and sometimes a maintenance
charge.
And that's to keep all thecommunal air or the communal
hallways as well.
'cause you might have a communallift again up to your flat
(27:02):
again, if that broke, it's, youneed that sort of central
ownership to get that fixed.
That's the main idea of it.
Now you can sometimes see, ifyou look in, if you go on right,
move away, the property searchesare, you go in London, some
nicer, like not in hill.
You could see like a, a reallynice flat for sale, but it's
like.
It's like 60,000 pounds.
(27:22):
You're thinking why?
Why?
Because there's only about fiveyears left on the leasehold,
which means a no mortgagecompany will do, will give you a
mortgage on it.
They want solve a minimum ahundred, 200 years and then to
renew the the, and in five yearstime you just dunno that how
that flat anymore, it's justgone.
Then to then extend the leasehold on it for like another a
(27:43):
hundred years that could thencost maybe half a million or
something stupid like that.
So it's, it's.
Jerry (27:48):
are you paying this to?
To
Matt (27:50):
Who,
Jerry (27:50):
to the o
Matt (27:51):
who, whoever owns whoever owns the whole building.
So you think, you look at, youlook at a flat or apartment,
it's, it's in a building, isn'tit?
It's, it's, it's not literallyjust containers built on top of
it.
So whoever someone owns thatbuilding and within that have a
flat.
So really it's, it's, I dunnowhat, what's, what's the similar
situation in, in America ifyou've got flats for instance?
How does that work?
Jerry (28:12):
I mean, you pay an HOA, so you pay a fee for servicing
of the building and there'sinsurance involved, right?
So look to your, to your point,if the, the flat above collapses
into your apartment, right.
You just have propertyinsurance, we have homeowners
insurance, essentially, that'llsort that out.
I just, the, I I guess here younever really truly own your home
(28:35):
if you're still paying propertytaxes, right?
It, it's not To some extent, noone really owns it if you're
still paying property taxes.
But, but the thought of, I don'town the land that my physical
home, like, let's say it's asingle home I've even seen with
detached properties in the uk.
That there, there could be adifference between freehold and
Matt (28:54):
that's, that's very rare.
It's very rare.
Normally it's on a flat'causeyou think you can't own them.
If you're especially in themiddle flat and there's a flat
below you, well, you can't ownthe land that your flat's on
'cause there's a, there'ssomeone below you.
So that's what, that's wherethat comes in.
It's normally in an apartment ora flat.
Um, if it's a single house.
On a detached house on a land,I, I couldn't see it.
But also what you can do, youcan actually also be a share of
(29:15):
freehold.
So say there's three people in aflat, they can actually own the
three hold between them, so theysort of all own a third of it.
So sometimes you see that youmight, you might see share of
freehold, but yeah, lease hold,it's a.
And then you have that themanage, like what you call the H
Ho A, it's like that.
And that's like a committeethat's set up and you sort of
all vote on that and you, youvote how the spending's done and
(29:35):
it makes, selling a leaseholdflat is a lot harder than a
freehold one.
'cause then you have all thisaudits have to be done at the
lease leases.
Jerry (29:44):
Yeah.
Openly still incrediblyconfusing.
Uh,
Matt (29:47):
Yeah.
And I think on that note, Ithink we've, we've, I think
we've confused our listeners.
Uh, like what we like to do iswe like to leave you more
confused when you started, don'tyou?
So that you know that by the endof this, you know, how not to
purchase a house in twocountries, which is, this is
probably why our listener basedin Asia,'cause we are not
confusing them.
Jerry (30:05):
Wait, la last question.
If you have a moment, what isyour ideal home?
Matt (30:12):
I, I dunno that answer.
I mean, one, I don't have to payfor, I'm not, I'm not sure the
answer here.
Jerry (30:16):
right.
No, I mean, you know, what aresome of the must haves
Matt (30:19):
One without.
I, I don't like pedophilesprayed on the front door.
That's, that's really, yeah.
Yeah.
Um, I, I like parking off streetparking.
I don't want that, um, anxietyof having to put up outside,
front of find somewhere to park.
I know that I could just put upand park on my drive.
Um, a garden's nice that I don'tuse.
Um, uh, yeah.
(30:40):
What about yourself?
Jerry (30:41):
Uh, obviously I need some space.
Um, I'd like a good yard just'cause I like having a pool, um,
driveway with a garage, it snowshere.
It's easy to just get in andout, right?
Uh, but the most important forme is I like having a walkable
neighborhood.
It'd be nice to, to be able to,to walk three, four blocks in
(31:02):
their shops, cafes, restaurants,bars, uh, that we can take an
afternoon, evening stroll in,
Matt (31:10):
No, I get that.
I'm, I mean, I, I, I don't livein London, but I can commute to
London where some people I thinkon earth go,
Jerry (31:15):
right?
Matt (31:16):
oh, I have to live in London, I think, but I know
people in London, it took themlonger to get to the office than
it took me to get to the officewho lived in Kent, because I had
better transport links.
So that didn't really work, didit?
So.
Jerry (31:26):
Yeah.
It's similar to me.
I, I live 30 minutes from myoffice in, in Manhattan, and
there's folks that live inManhattan that take 40 minutes
to
Matt (31:35):
And do you have a decent night bus into the city from
your house?
Jerry (31:39):
Yeah, I have both.
So I have a bus and the train.
Matt (31:42):
Okay.
And can you take a crap on bothof them?
Jerry (31:47):
I, this is America.
I can do whatever I like.
No.
Uh,
Matt (31:50):
God bless America.
Jerry (31:51):
it, God bless America.
I can do what I please.
America?
Matt (31:54):
What, what and what amendment is that?
I can't remember The amendmentwhere you could crap anywhere
you liked.
Jerry (31:58):
taking amendment.
I'm not quite sure what the shittaking amendment is.
I'm sure the, we, Jamie, can youpull up the constitution?
No.
Um, uh, yeah, the, the train hastoilets, so it's pretty solid.
Uh, the bus not so much.
Yeah.
Matt (32:14):
Well, that's our, that's our travel tip here.
If you are prone to shitingyourself, get the train.
Jerry (32:19):
Correct, correct.
Or, or have an imagination.
Baby.
The world is yours.
Matt (32:24):
Yeah.
Okay.
On that though, I think, uh,
Jerry (32:28):
Yeah.
Matt (32:30):
we'll catch up next week.
All right.
Have a good week, Jerry.
Jerry (32:32):
up next week, sir.
Cheers.
Matt (32:34):
Thanks for listening.
Bye.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
The Breakfast Club
The World's Most Dangerous Morning Show, The Breakfast Club, With DJ Envy, Jess Hilarious, And Charlamagne Tha God!