- há 2 dias
Oobah Butler masterminds a range of stunts and tricks designed to help a young couple of first-time buyers in Liverpool get onto the first rung of the property ladder. Along the way, he explores how the UK found itself in this position in the first place - and whether it is legal to hypnotise an estate agent into selling a house for a fiver.
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00:00Sabe...
00:01On an acute and entrenched housing crisis...
00:04Housing crisis...
00:05Housing crisis...
00:06Housing crisis...
00:07Britain's housing crisis...
00:11The housing crisis...
00:13Is the defining issue of the moment...
00:16And if these relentless and apocalyptic headlines are anything to go by,
00:20it isn't getting better anytime soon.
00:22Most of the people that I know don't even own a home, me included...
00:26E 40% de privada renters expectam a rentar into retirement.
00:30Então, como nós ficamos como essas pessoas que eu vejo no meu dia-time property shows?
00:34Hoje eu sou house-hunting.
00:36Para encontrar o próprio propósito.
00:37Nós findamos o mundo do propósito.
00:39Exciting, even addictive.
00:41Sim, mas vamos lá.
00:42Eles estão em todo o tempo, e as pessoas que eles sejam a rockar para um quarto de um quarto
00:46e ficar handed o keys.
00:48Então, é isso, off the market.
00:50Fantástico.
00:51Bye.
00:53A casa em casa não existe para esses pessoas.
00:56Como nós estamos literalmente vivendo em diferentes mundos.
01:02Se você não tem a casa, por que não?
01:06Porque se você não tem, você renta.
01:08E se você renta, você é um múg.
01:12Você não está construindo equipe.
01:14Você não está procurando o futuro.
01:16Você está pagando um alimento de 33£ de cada um de vocês que você ganha diretamente a sua mãe.
01:22Just para evitar que você tenha exposto.
01:24Jesus.
01:25Mas, não tem que ser assim.
01:28Eu sou Uber Butler e eu outfucked algumas das maiores grandes organizações do mundo.
01:34Eu costum morar em um shed.
01:35Shed.
01:36Agora, eu estou no telle.
01:38E hoje, eu vou usar toda essa experiência para mostrar você...
01:42how to trick your way onto the property land.
01:49In the 1970s,
01:51buying a house was just something you did,
01:53like trying LSD or smoking in a hospital.
01:56The average age of the first-time buyer
01:58has increased nearly an entire decade since then.
02:02I mean, these days,
02:02young people seem to be more interested in their smartphones
02:05than owning their first homes.
02:08So I'm travelling the breadth of Britain,
02:10meeting failing first-time buyers
02:12and helping them to trick their way
02:14onto the property ladder
02:16by doing whatever I can
02:18to gain the system in their favour.
02:23I'm here in Liverpool to meet couple Mo and Insaf,
02:27who've been dreaming of buying a home
02:29and being able to start a family for years,
02:31but they claim saving for a deposit
02:34has been an uphill struggle.
02:35Can be difficult to manage, would you?
02:37After sending a camera crew to observe the couple,
02:40I began to wonder if they spent less time
02:41dolefully staring through estate agent windows
02:44and laughing maniacally at their flat whites
02:46and more time working,
02:47then perhaps they might be in a better place.
02:50We do both work seven days a week.
02:52Turns out Mo works in sales by day
02:54and is a driver by night,
02:55while Insaf splits her hours
02:57between a beauty studio and a community centre.
03:00Have you got much time to yourselves?
03:01No.
03:02No.
03:03No.
03:03You get home on a Sunday evening,
03:06that little, you know, recap of how was your day?
03:08How was your day?
03:09Talking to each other whilst doing chores.
03:11Yeah.
03:11That's the end.
03:11And then that's it.
03:12The morning after,
03:13see you tonight and do it again.
03:16With four jobs between them,
03:17I was baffled they couldn't rustle up a single deposit.
03:21Because of, like, rising costs of pretty much everything.
03:24So you've got the rising costs of living,
03:25but then you've also got the rising costs of housing.
03:28It makes saving up for anything a struggle.
03:31So as soon as you're like,
03:32oh, this month I, you know, reached this amount,
03:35something comes up and you're like,
03:37right, back to zero, let's start again.
03:39Despite the couple's commitment to a joyless existence
03:42devoid of fun, free time or meaningful memories together,
03:45they're still nowhere near that all-elusive
03:48first rung of the property ladder.
03:49So guys, where are we then?
03:51We're just outside a prospective house, should we say?
03:54One that we saw together.
03:55You do imagine yourself with a cup of tea,
03:57just, you know, sit it down.
03:58This completely normal house is valued
04:01at just over £100,000.
04:04Apparently, it takes the average first-time buyer
04:06nearly 10 years to save a deposit.
04:08Now, Mo and Insaf could spend the next decade
04:11barely seeing one another
04:12and desperately hoping their efforts to raise the £10,000
04:15aren't constantly thwarted by the mere cost of being alive.
04:19Luckily, I know a way that they can get there quicker.
04:22For nearly two-thirds of first-time buyers,
04:24the journey to home ownership starts here.
04:27Inside the reproductive organs of a wealthy couple
04:30or, as it's more colloquially known,
04:33the bank of mum and dad.
04:35A veritable breeding ground for future homeowners.
04:38Last year, they gave their offspring
04:40a collective £9.4 billion.
04:42So if Mo and Insaf want to get on the property ladder,
04:45surely all they need to do is ask their parents.
04:48A lot of people, when they meet at home,
04:50they go to their mums and dads
04:52and they get money off them.
04:54Yeah.
04:56So I've not come from a background
04:59where I can call the bank of mum and dad.
05:02Most parents sacrifice their own chances of home ownership
05:04to support their children through education.
05:07Are they still renting your mum and dad?
05:08Yeah, yeah.
05:09So they're still in that limbo as well.
05:11This was going to be harder than I thought.
05:13Why is it that, like,
05:14so many people that I know,
05:16friends, family, me,
05:17why don't any of us own a home?
05:20Well, there's a range of reasons, generally.
05:23Two words.
05:24Margaret Thatcher.
05:25It's because we simply haven't been building enough homes.
05:28That is the fundamental problem.
05:30Ultimately, what's causing the housing crisis
05:32is landlordism.
05:33Landlords are now allowed to ask
05:35for whatever amount they want
05:36because we've abolished rent controls.
05:38And all house prices are sitting on top
05:40of that phenomenon of ever-rising rents
05:42because homeowners are competing with landlords.
05:45The increase of house prices
05:47compared to the increase in wages.
05:49There's been a deliberate choice by governments,
05:51including the UK government,
05:53to prioritise asset price rises,
05:55which includes housing, over wages.
05:57When I bought my first property
05:59back in the late 1990s,
06:01the average home was four or five times
06:04the average annual income.
06:06Now it's more like nine or ten times.
06:09Sure, it could be that.
06:11But I think there's a much simpler explanation.
06:14These avocados.
06:16Have you tried cutting out avocados?
06:21She's one of the avocatly consumers in the house.
06:24I can't really let go of that one.
06:26But it's not a joke.
06:28Avocado consumption is locking out
06:30an entire generation from homeownership.
06:33If Mo and Insaf cut down on their financially crippling spending habits
06:37and forego one avocado every single day for 10 years,
06:41they'd have saved up enough for their deposit.
06:44Even if they do that,
06:45that assumes that avocados and house prices
06:47rise at the same fixed rate.
06:50And historically, that's not happened.
06:53Since the 1970s, we worked out avocado prices
06:57have increased roughly around 700%.
06:59While during the same period,
07:01house prices have gone up 6,600%.
07:03If avocado prices were fixed to house prices,
07:07today about half a kilo of avocados would be worth around...
07:1020 pounds.
07:11Jesus.
07:12But if you...
07:1320 quid!
07:14I want to see if boomers are willing to pay for avocados
07:16if avocados had gone up at the same rate as their homes.
07:19Get your avocados, ladies and gents.
07:21This avocado is 20 pounds.
07:23And what that would get you...
07:26Really?
07:27Yes.
07:27Yeah, yeah.
07:28No.
07:30I'd give you a pound.
07:31A pound? I can't accept a pound. I'm sorry.
07:33We bought our house in the 60s and it was 3,000 pounds.
07:36Wow. That's amazing.
07:37I can understand exactly where everybody's coming from.
07:40That's very kind.
07:41Thank you so much.
07:42Cheers. Have a lovely day.
07:44I think 20 quid might be a bit much.
07:46People are just looking at me like I'm insane.
07:49It is clearly absurd to pay for an avocado inflated by that much.
07:53So how are we expecting a whole generation
07:55to stump up the same difference for their first home?
08:00And it's going to keep on getting worse.
08:01One report says that house prices are set to increase
08:04by 23.4% over the next five years.
08:09So I need to get Mo and Insef onto the property ladder ASAP.
08:13Luckily, I've got a plan that will get them a house in no time.
08:17So I've come to meet estate agent, Roman.
08:19I've tasked Roman with finding a property
08:22that they can move into immediately.
08:24Yeah, so I've got a feeling you're really going to like this one.
08:27Great.
08:27Everything I've got ticks a lot of your boxes.
08:30It's a great location.
08:31But by the way, sorry, I should have said, this is my mate, Alan.
08:35Hi, Alan.
08:35He's just come along just to...
08:37I'm Alan Bates.
08:38Lovely to meet you.
08:39Nice to meet you, Alan.
08:40I'm Roman.
08:41Nice to meet you.
08:41How are you doing?
08:42You OK?
08:43Here's the thing.
08:44The more we attempt to meet house price rises,
08:46the more that they will just keep going up.
08:49We need to start haggling them down.
08:51That's why I brought master negotiator Alan Bates along.
08:54He's going to use his expert powers of persuasion
08:57to help me get Moen Insaf onto the property ladder
08:59for a bargain price.
09:01One of our big decisions in my life, I always bring Alan.
09:04I'm confident Moen Insaf will fall in love
09:06with this three-story townhouse when they see it.
09:09It has four bedrooms, each with their own en suite.
09:12This is a lovely little bathroom, this.
09:15Wow.
09:16And views right over the woods.
09:19They have some great barbecues here, mate.
09:22Yeah, right.
09:22But the best feature of all is the surprise
09:25that Roman has for us in the basement.
09:28After you.
09:29Wow.
09:30Didn't expect this, did we?
09:31That leads through to the living room.
09:33We could have some serious parties.
09:36We could have, we would have some serious parties.
09:38I think we found Moen Insaf's first home,
09:41so we sat down to negotiate.
09:42So in terms of this place then, so what is the cost?
09:45So this property is marketed between 900 million guide price.
09:49There's got to be some negotiation in there, isn't there?
09:52There's always a conversation to be had,
09:54but I don't think it'll be on the market too much longer.
09:57Yeah.
09:58I knew Alan could break him down,
10:00so I made my excuses and left him to it.
10:06I'm going to have to look deep into my eyes now.
10:09Now don't ask me why.
10:10Just, just go with this.
10:12Just go with this.
10:12Okay.
10:13Okay?
10:13All right?
10:15Just concentrate now.
10:16Just look deep into my eyes.
10:17My mate Alan is a professional hypnotist
10:21who Roman has no memory of being hypnotised by earlier.
10:25And three.
10:27Deep sleep now.
10:29The suggestions that I will make to you now are very important
10:33because when Uber next comes into the room,
10:36you are going to sell this property today.
10:41You won't question it.
10:42You're going to sell this property.
10:44You're going to sign the contract.
10:47One, two, three.
10:50Wide awake.
10:52I think I've made my mind up.
10:55Good news?
10:57Yeah.
10:57The house is great.
10:58Yeah.
10:59Mum and Ed and Saf are going to love it.
11:01It's...
11:02Perfect.
11:02They're a lovely couple.
11:03And if we can do this today,
11:05if there's a deal to be done quickly...
11:06I think so, definitely.
11:08How should we work this?
11:09I reckon we should offer five pounds.
11:12Yeah.
11:13Mm-hmm.
11:13So I have five quid that I'd like to offer for it.
11:19Five pounds, yeah.
11:20I can work with that.
11:21You can?
11:22Yeah, I can work with that, definitely.
11:24Are you happy with the sale?
11:25Everyone would be happy with that.
11:27I think, most importantly, the owner would be happy.
11:29Yeah.
11:30Right.
11:30Okay.
11:31Good.
11:32Well, that's me.
11:34If you do you.
11:35Of course.
11:36Yes, my pleasure.
11:37This is the best part, definitely.
11:39And we can do the sale today?
11:42With cash, yeah?
11:44Yep.
11:44Excellent, yeah.
11:45The owner will be delighted.
11:47Thank you so much, mate.
11:48Thank you.
11:49Thank you very much.
11:50Thank you.
11:51Delighted.
11:51Showed the guys round.
11:52One of the quickest sales I've had in my career.
11:55Absolutely delighted with the price.
11:57The owner's going to be really happy with what they sold it for, definitely.
12:01And what was the original asking price for the house?
12:03It was £900 to a million.
12:05Okay.
12:06And what did you end up going for in the end?
12:07A total of £5.
12:09I couldn't wait to tell Mo and Insaf the good news.
12:12The hypnotist managed to get the guy to give it to us for a fiver.
12:16For £5?
12:17I think that's pretty good if you're happy.
12:22It's the moral side.
12:26I feel like that will land us in some sort of prison cell.
12:29So we did some digging and it turns out Mo was right.
12:34Getting someone to sign over a house while they're under the influence of hypnosis is not exactly legal.
12:39So my quest to get Mo in Insaf the house continues.
12:42Well, I've come to Peckham, London to meet our next first-time prospective buyer.
12:48He currently rents a one-bed in south-east London, but his landlord is selling the property, so he needs
12:53to move out.
12:55Now, he wants to put the constant moves behind him and buy a place of his own.
12:59But he says that he's unwilling to compromise on any aspects of his lifestyle or the central London location.
13:05It's me, Uber Butler.
13:08Uber works in media.
13:10He drinks eight takeaway espressos a day and six pints a night.
13:14When he's not gambling on dogs or chasing his losses at the casino, he's taking one of his fortnightly holidays.
13:21With a grand total of zero saved for a deposit, I sent him to a mortgage advisor to discover how
13:28close he is to home ownership.
13:30Most people strive to get at least 10% of the property purchase price.
13:34If you look at the average price of a property now, which is £290,000, you're looking at saving £30
13:40,000 plus.
13:41And then if we look at London, for example, where the average property price is close to £700,000, 10
13:47% of that, you're looking at £70,000.
13:49So I've asked Uber to look through his expenses to see if there's anywhere he can make savings.
13:54There's Netflix here, Disney, I need that.
13:59It's quite difficult just to say stop spending.
14:01It's about being aware of how much you've got to do those nice things rather than just saying, let's not
14:06do anything.
14:07Because that's probably not realistic either.
14:08Yeah, right.
14:09Do you know what I mean?
14:09Being miserable.
14:09Yeah, exactly, exactly.
14:11So it's about getting the balance.
14:12If I was getting like six pints, seven pints three times a week, I'm at the pub a lot.
14:21I'm not going to cut down on going to the pub.
14:23And it's the hangovers as well, really.
14:25I mean, say if you say five or six quid on a prep cheese and tomato croissant on the, you
14:29know.
14:30I mean, everything seems to be miserable these days.
14:33That probably isn't my area.
14:35I'm not the best person to know.
14:36No, no, that's okay.
14:37Despite Nicola's lack of help, Uber has found one expense that dwarves all of his other outgoing, his rent.
14:44I pay about $13.50 without bills.
14:48In some places, it can actually be cheaper to own a home than to rent one.
14:52But before you can start making those savings, you need the deposit.
14:57One of the main things preventing our couples from saving enough of a deposit to own a home is the
15:04fact that they don't own a home.
15:05What are your biggest expenses now?
15:08The rent is the biggest one.
15:10So most people's main cost is cost of rent, right?
15:13And that's gone up a lot as well.
15:14Definitely, at record highs at the moment.
15:16So the average cost right now is £1,300 that you'd be paying.
15:20In London?
15:21That's across the country.
15:22Really?
15:23So yeah, that's the average price.
15:24Rent inflation at the moment is 9%.
15:26Wage inflation is 5%.
15:28So every year, landlords are taking more of our money and making us poorer.
15:32Rents have gone up by about £3,000 per year compared to three years ago.
15:36That's £270 a month.
15:37Half of renters have no savings whatsoever, so they're having to reach around to try and find a way to
15:43make that money.
15:43For landlords, the difference is they can click their fingers and they know because we need homes that people will
15:48try to pay it.
15:49The longer you rent, the more your rent goes up.
15:52The more your rent goes up, the more it eats into your deposit.
15:55How do you break out of that vicious cycle?
15:58You rent smarter.
16:00Compromising on the size, locations or amenities of a rental property could reduce the amount you pay in rent,
16:07allowing you to save more towards that all-important deposit.
16:12All right, so we have a one-bedroom flat in zone two.
16:20It's all a contained space.
16:23There's no bed.
16:25Yeah, this is the bed as well.
16:27So you sleep on here.
16:28There is a bit of mould down there, but I think that that seems solvable.
16:33You might be able to get that sorted when you move in.
16:37In other countries, tenants might enjoy longer tenancies, rent controls and other rights and protections.
16:43But in the UK, renting is so miserable you can put any old shithole on the market, like these genuine
16:49rental properties, and we'll just accept it.
16:52That's why home ownership has become a national obsession.
16:55People our age, I'd say, kind of are fixated around it because we're always told owning a property is like
17:01that ultimate asset.
17:02It's the only sensible thing to do. You're economically punished for being a renter.
17:05Renting could be amazing if we had the flexibility that's promised by renting, if we had a whole host of
17:11new rights as well.
17:12We're so far away from that. No homeowner is kicking themselves thinking, I wish I was renting because of the
17:17state of it.
17:18The worse renting is, the more desperate people become to escape it.
17:21I think this is in budget currently.
17:23The more desperate they are, the more demand there is for houses, the more house prices rise and the harder
17:28it becomes to escape.
17:30And as you can see from these real listings, the cheaper rentals get, the more unlivable they become.
17:35And if renting were made more tolerable, fewer people would rush to buy.
17:38This could slow demand and put downward pressure on house prices, which might sound good, but in Britain, that's bad.
17:44I think it's fairly obvious that the government's scared of interfering with the rental market in case it has effects
17:51on the housing market.
17:52Land and real estate is the single largest sector of the UK's GDP.
17:57It's 12 percent, so the housing market is worth 3,000 times the national economy.
18:03Our economy is heavily reliant on house prices going up.
18:06Your landlord's retirement plan, a banking system, the sitting government's chances of staying in power, all need house prices to
18:15keep going up.
18:16And if keeping renters miserable helps that happen, guess what's going to keep on happening?
18:21The system needs to maintain a population of renters who suffer.
18:26Is it possible to untangle all of this without plunging millions of homeowners into negative equity and bringing down the
18:32entire economy?
18:34I don't know.
18:35Before he was tempted by the big job at number 10, Andy Burnham had something to say about this.
18:40The single best investment this country could make in terms of public money would be to give a good home,
18:46a good secure home to every single person in this country.
18:49I would say to anyone watching this, any younger people who are getting a bit, you know, sort of feeling
18:55more and more frustrated,
18:56you've kind of got to get together and you've got to kind of create a mass movement here to say
19:01to all the political parties,
19:03we're not voting for you until you put housing number one on your list of priorities.
19:07Just as Uber is beginning to give up hope, he comes across one of London's true hidden rental gems.
19:13Located in the heart of Zone 2 London, a stone's throw from trendy Notting Hill,
19:18this opportunity would slash Uber's rent by 99%.
19:21So he's come to meet landlord Peter Humphreys, who's keen to talk up the thriving creative scene that's sprung up
19:27within this exclusive gated community.
19:30There's poets, there's engineers, there's writers, there's many famous residents here.
19:38Great.
19:38It's really quiet and peaceful, isn't it?
19:40Oh, it's beautiful.
19:41That's what we like to maintain because it's not just the buildings, it's the place.
19:47Yeah, it's beautiful.
19:48I mean, it's like you could see yourself being here a long time, you know.
19:51If the decision was made to go with it, what is the process?
19:54It can all happen same day.
19:55How big is the plot?
19:57Like, how big is a plot?
20:00So it's two and a bit feet wide and six feet long.
20:05It's a long-term lease, but at roughly £4,000 for 25 years, the average burial plot works out at
20:12just £13.30 a month.
20:14Over 200 times cheaper than the average London rent.
20:17If you have the spot, it is legally, it's your land.
20:20Yeah, so exactly.
20:22So what is actually sold is not the land.
20:26What is sold is a right of burial.
20:29So you couldn't, like, move on to the land then if you owned it?
20:35No, well, you can't, you can't move in tomorrow.
20:39You have to be like...
20:40You have, well, the person has to have died.
20:44Right.
20:44And at which stage we're then happy to sell a plot.
20:48But if I was to buy this, say, tomorrow, you know, I'm young enough that I'm probably not touch wood.
20:53I won't die very soon.
20:55Yeah.
20:56But in the interim, is the space mine?
20:59Like, could I move in?
21:00Could I move on to the space?
21:01Once again, what you are buying is a right of burial.
21:05So you have to have a death certificate.
21:06So you have to have a death certificate.
21:08That's got to be verified medically.
21:11I mean, it's a no here.
21:12You can't live here, obviously.
21:14But do you think that any other cemeteries would be more amenable to it?
21:18No, it's not possible.
21:21It's not possible to live on a cemetery plot.
21:25It's a right of burial.
21:28So that's all that can be done on that plot.
21:32So there you have it.
21:33One simple trick to getting cheap rent in modern London.
21:36Being dead.
21:38Join me after the break for more How to Trick Your Way Onto the Property Ladder.
21:43Welcome back to How to Trick Your Way Onto the Property Ladder.
21:47Where I've got another rental trick that I've come back to Liverpool to tell Mo and Insaf all about.
21:54All they need to do is rent a council property.
21:57And after living in it for three years, they'll be able to purchase it with a discount of up to
22:0135% thanks to Right to Buy.
22:04Did you ever think about putting yourselves on the social housing register?
22:09I don't think we'd qualify because of working.
22:11Oh, really?
22:12Yeah.
22:13With social housing, you're looking at many, many years and it's very competitive.
22:17I think right now the list is about 17,000 people waiting.
22:22That sounds like it could take a while.
22:24So I've come to meet the mayor of Liverpool to see if I can help them skip the queue.
22:28How long does it take to actually get a council property in and full lease it, roughly?
22:32We've got no council housing because it was all sold off.
22:34To arms-length companies.
22:36Right.
22:36So we've not got council housing.
22:39Steve was a dead end.
22:40So I went to see the mayor of the next city over in the hope that he'd have better news.
22:44The social stock has shrunk every single year since the sort of mid-1980s.
22:51Which is when the right to buy policy was introduced.
22:54Since then, over two million homes have been sold off under the scheme.
22:57Right to buy would have been a more palatable policy if the proceeds from the sale of the homes
23:02were kept then for the councils to build replacement homes.
23:05Well, that wasn't the policy.
23:07Is that right?
23:07Yeah, that was prevented.
23:08They couldn't use the proceeds.
23:10So they don't have an incentive to build new council homes.
23:13No.
23:13Because they can just be lost a few years down the line.
23:16Before right to buy, council tenants used to represent about 42% of the British population.
23:22Now they make up just 6%.
23:24Over 40% of former council homes, like the one that Moe and Insaf currently rent,
23:29are now owned by private landlords.
23:31So we're going from councils being able to earn social rent from their own stock
23:35while housing people below market rates,
23:38to councils having to turn to the private sector themselves.
23:42Last year, they spent 2.3 billion temporarily housing people in England alone.
23:48You're in temporary accommodation?
23:49Temporary accommodation.
23:50Joanne told me about a friend of hers who didn't even have that.
23:53It's a sibling of his car.
23:54It's got terminal cancer.
23:56Wow.
23:57It's just why they've got cystic fibrosis on the lungs.
23:59That's horrible.
24:00It seems like what they keep on doing is that,
24:02because they don't have the housing stock now, they just, they're...
24:04There's no housing stock left.
24:06What houses are left?
24:08That damn Britain.
24:09Like, the last house I've just come out of.
24:11It was that damn Britain.
24:13You're getting ill.
24:14Well, I need to do a sputum test to see how much actual mould in my lungs because of it
24:19now.
24:19God.
24:20That's how come they found all she's got cystic fibrosis.
24:22We were that ill of it.
24:24Public housing was once a fact of everyday British life,
24:27but now so much of it has been sold off
24:29for allowed to fall into disrepair.
24:31It's basically extinct.
24:32From 1946 until 1981,
24:35successive Labour and Tory governments
24:37cumulatively built 4.2 million local authority homes.
24:40In all the years since then,
24:41they've managed just over 240,000.
24:44And yet, despite this shortage,
24:46there is still one family who manages to wangle multiple homes funded by the government,
24:51including one with 755 rooms.
24:55So what's their secret?
24:56Buckingham Palace is some of Britain's finest public housing,
25:00already being done up to the tune of 369 million pounds of public money.
25:05But that's not all.
25:07Their property portfolio keeps growing every year
25:09thanks to a medieval law still in place today,
25:12allowing them to claim the estates of some dead members of public
25:15in the northwest of England.
25:17Have you heard of the Bonavacantia laws?
25:20No.
25:21Do you know what that is?
25:22No.
25:22To find out more,
25:24I've come to meet former Mayor of Burnley, Charlie Briggs.
25:26I want to find out how the King got his hands on his friend's property.
25:30So Val lived here then?
25:31Val lived here, yes.
25:33Yeah.
25:33Yes.
25:33She was a lovely person.
25:35She passed away roughly about 18 months ago now, I think.
25:39Right, okay.
25:40I was told that she hadn't got any family.
25:42The Duchy of Lancaster got involved.
25:45They took the property off her.
25:46and everything what's inside was Val's.
25:51They sell it.
25:51Because Val died without a will or an exter of kin
25:54within the historic county-Palatine border of Lancaster
25:57under a law called Bona Vicantia,
26:00her estate was claimed by the Duchy of Lancaster.
26:03What is the Duchy of Lancaster then?
26:05It's this huge portfolio of land and properties
26:08worth hundreds of millions of pounds.
26:10It's existed since the 13th century
26:12when all of these feudal lords handed over their land to the king.
26:16It now makes a lot of profit every year
26:19which is then passed on to the monarch.
26:21Over 10 years, they've had £60 million
26:24come in from Bona Vicantia.
26:26So to reiterate, the law is
26:28if you pass away in these areas
26:31without a will
26:33and not have an exter of kin
26:34then their property will go to the Duchy of Lancaster.
26:38King of England.
26:39Yeah.
26:39How did you feel when you found out
26:40that it had gone to the Duchy?
26:44I got a bit upset.
26:45Not just because it went to the Duchy
26:47because I am a royalist.
26:49I'm into the king and everything.
26:52It was just what they were doing with the money.
26:55Yeah.
26:56That's what upset me.
26:57They give about 15% of that
26:59to three charities that are Duchy related.
27:02Where does the 85% go?
27:04That was the question.
27:05It gets squirreled away into this pot of money
27:08which one insider called a slush fund
27:10or like free money.
27:11That's how it was treated by the Duchy
27:13in their opinion.
27:13Maeve's team dug into the Duchy's account
27:15and found internal documents
27:17suggesting they were using some of the funds
27:19for renovation and upkeep
27:21of their own rental properties.
27:23And they were using that money
27:24to put in boilers
27:26to put in double glazing
27:28you know, basic landlord costs
27:30doing up houses
27:31so that they could charge higher rates
27:33even some luxury holiday lets.
27:35In one case we found a barn
27:37that was used for pheasant and partridge shooting
27:39in Yorkshire
27:40that was getting this money.
27:41So money that was taken from estates
27:44of people who died
27:45being used for the purpose of hunting
27:46and this sounds like a cartoon villain.
27:50It really is this kind of remnant
27:51of a feudal system
27:53where the lowly peasants of the North West
27:55their assets are claimed by the monarch
27:59to fund his lifestyle
28:00and the lifestyle of his family.
28:02So even his brother, for example.
28:04Yeah, yeah.
28:05So Andrew has probably been paid for
28:08out of the Duchy of Lancaster.
28:10I'll be honest
28:10I read it in the Guardian
28:12and I had to re-read it
28:13and triple read it
28:14before I could even believe
28:17that this was still in place.
28:18It's like a remnant of feudal Britain
28:20isn't it?
28:20And silently levelling us down.
28:23It's an archaic system
28:24that is clearly
28:27way beyond its time
28:28if it ever was justified
28:29in the first place.
28:30What I'm going to try and do
28:32is see
28:33whether there's any people
28:34in the North West
28:35who don't have a next of kin
28:37who don't have a will
28:38who maybe
28:40they would prefer
28:41if you guys had their home
28:44rather than the King of England.
28:47I'm going to try
28:48to steal a house
28:50from King Charles
28:51and give it to you.
28:53The demographic most likely
28:54to be able to provide
28:56Mo and Insaf
28:57with a house soon
28:57will probably skew
29:00older.
29:00So in search of possible candidates
29:03I'm hitting up the country's
29:04hottest hangout spots for seniors
29:06community centres.
29:08All I need to do
29:09is convince someone
29:10to write two complete strangers
29:11into their will.
29:14Hello everybody.
29:16Sorry to interrupt your breakfast.
29:18Who doesn't have a will?
29:20Who doesn't have a will?
29:22Okay.
29:23Right.
29:24So there's a law
29:24in the North West
29:25which is quite unique
29:26and this is something I...
29:28Oops.
29:30Do you know what happens
29:30if you pass away
29:32in the North West
29:33and you don't have
29:33a next of kin
29:35or a will?
29:36Your house goes
29:37to the Duchy of Lancaster.
29:40So...
29:40And that's only
29:40in this part of the country
29:42Would you rather
29:43your house go
29:43or your estate
29:44go to the social housing register?
29:46Would you rather
29:47it go to your mate?
29:48Would you rather
29:49it go to a couple
29:50who are from round here
29:51that work really hard
29:53and still
29:54they cannot save
29:55enough money
29:56to buy a house
29:57because it's all
29:58going on rent?
30:00Unlike say
30:01the king
30:01he feels like
30:02he's doing alright
30:03so maybe he doesn't
30:05need your estate as well
30:06but maybe he does
30:07put it in your will
30:08if you like
30:08I don't mind.
30:09Having whipped
30:10the crowd up
30:11I bring out
30:11my support act
30:12and secret weapon
30:13James
30:14a lawyer from Witch
30:15who will provide
30:16anyone with a free will
30:17there and then.
30:19In the interest
30:20of not boring you
30:21I thought I'd start
30:22with 150 reasons
30:24as to why
30:24you should make a will
30:27somebody once said to me
30:28well if I make a will
30:29I know I'm going to die
30:34we're all going to die
30:35my family know what I want
30:37don't bet on it
30:39I started getting
30:40concerned that James
30:41was losing the room
30:41particularly when he
30:42brought out some
30:43shock jock flavoured stuff
30:45How many children
30:46have you got?
30:47Three
30:47Three
30:47Perfect
30:48We're going to knock
30:49them down by a bus
30:50Oh dear
30:51Before he can do
30:52any more damage
30:52I retrieve the microphone
30:54and win the crowd
30:55back with a special
30:56song that I prepared
30:57Oh Dutchie boy
30:59The whales
31:01The whales
31:02Need riding
31:04Pick up your pen
31:08Right
31:09And watch
31:10You'll be
31:11Behind
31:14For if you don't
31:18The royals
31:20Will be delighted
31:24Your land
31:25Your wealth
31:27To them
31:29The laws
31:30Assign
31:32It works
31:33People flock to James
31:35to take advantage
31:36of the free wills
31:37Over the course of the tour
31:39we get 12 sign-ups
31:40And based on the average
31:42house price in the northwest
31:43we could have stolen
31:45around 3 million pounds
31:46worth of houses
31:47from the king
31:48We just need one of those
31:50to leave their estate
31:51to the lovely Moen Insaf
31:52Unfortunately
31:53James has some bad news
31:55Though we managed
31:56to prevent the king
31:57getting a number of estates
31:59people have been selfishly
32:00leaving them to their loved ones
32:02instead of two complete strangers
32:04Though we got a load of people
32:05to write wills
32:06and to maybe prevent
32:08the king getting their house
32:09one day
32:10Unfortunately
32:11there was just
32:12there was no one
32:14who fit the criteria
32:15basically
32:16It's okay
32:17You tried your best
32:17You've done your best
32:27Well luckily
32:28I've got more ideas
32:29up my sleeve
32:30So join me after the break
32:32as I show you
32:33more ways
32:33to trick your way
32:35onto the property ladder
32:37Welcome back
32:38to How to Trick Your Way
32:39onto the Property Ladder
32:40So far
32:41our house hunters
32:42haven't had much luck
32:43hacking the rental market
32:44There's no bed
32:45Shortcutting the
32:46counter housing register
32:48We've got no council housing
32:49Buying land to develop cheaply
32:51It's not possible
32:52to live on a symmetry plot
32:55But
32:55there's still plenty more tricks
32:57to get onto that ladder yet
32:58This is insane
33:00Like why are we
33:01tricking our way
33:02onto the property ladder anyway?
33:04Why can't we just
33:04buy like our parents did?
33:06Good question
33:07A general acceptance
33:08that homes are
33:09speculative financial assets
33:10rather than
33:11fundamental human rights
33:12as shelter
33:13has pushed house prices
33:14so high
33:15that the average price
33:16home in England
33:17is now only affordable
33:18to the richest 10%
33:19Housing
33:20is broken
33:21and we're desperate
33:22for solutions
33:23Developers are taking
33:24advantage of that desperation
33:26We've got people
33:27living in metal shipping containers
33:29repurposed office blocks
33:30without windows
33:31and converted outbuildings
33:32built to store things
33:33like lawnmowers
33:34not people
33:35If we resign to accept this
33:36how low will the bar
33:38of what we're willing
33:39to accept as housing go?
33:40To find out
33:41I created my own
33:42housing prototype
33:43based on the worst example
33:45I could think of
33:46a Guantanamo Bay cell
33:48Built to the exact dimensions
33:49of an ensuite
33:50at the notorious prison
33:51this solution features
33:53a toilet in the shower
33:54and at 96 square feet
33:56is almost four times smaller
33:57than current regulations
33:59It's a trick that would
34:00almost certainly get people
34:01on the property ladder
34:02It's cheap to build
34:03and you can fit around
34:0410 units into the
34:05ordinary terraced house
34:06But surely no one
34:08will advocate living
34:09in a prison cell
34:10as a solution
34:11to the housing crisis
34:12I invited my friend
34:13Aydin
34:14a local Labour councillor
34:15to get his thoughts
34:16on my design
34:17So what do you think?
34:18What's your first reaction?
34:20There is a toilet
34:21next to where
34:22someone's head
34:22is going to be sleeping
34:23Give this two years
34:24or a year of wear and tear
34:26this would be one of those
34:27like memes of like
34:29Yeah, yeah, yeah
34:29£3,000 to live in a wardrobe
34:31because that's what it is
34:32This is the race to the bottom
34:34and my big fear
34:35is that this is the future
34:37that developers want
34:37This is a good model, right?
34:39If land value in London
34:40is really high
34:42how do you get
34:43as many people
34:44onto that small patch of land?
34:45You can understand
34:46the kind of extractivist logic
34:48but it's dangerous
34:50So Aydin isn't convinced
34:52but he's just one politician
34:54and he's small fry
34:55compared to the government
34:56who are making
34:57a big song and dance
34:58about cutting red tape
34:59to build more homes
35:00One and a half million homes
35:02in the next five years
35:03Labour will bulldoze
35:05through the planning red tape
35:06and get Britain building
35:07This seems like
35:09the perfect political climate
35:10to pitch my prison cell concept
35:12to see if I can get
35:13the people who actually
35:14dictate housing policy
35:15members of parliament
35:16on side
35:17So I invited a few of them
35:19to view the design
35:20and to make it seem
35:21more convincing
35:22I persuaded two mates of mine
35:23Christine and Rebecca
35:24to pose as the architects
35:26behind this amazing idea
35:27Wow
35:27This looks great
35:28I just noticed
35:29the toilet's actually in the shower
35:31Many times the reaction is
35:32oh, this is not a prison cell
35:34oh, this is a great place
35:35Would you live in a place like this?
35:37Yeah, I mean, it's great
35:38We are now looking for existing spaces
35:40Space that's not really in use
35:42Yeah
35:42In my constituency
35:43you've got a huge amount
35:44of council estates
35:45with garages
35:46which are not used
35:48causing antisocial behaviour
35:49ordinarily you wouldn't be able
35:51to build a traditional home
35:53but a nice prefab
35:55kind of using modern methods
35:56of construction
35:57could fit really nicely
35:58and home families
36:00that need it
36:00Also sometimes less is more
36:02you know
36:02it's not necessarily
36:03worse to have
36:05a smaller space
36:05you know
36:06it also allows you
36:07I'm all for this kind of idea
36:08I think it's fantastic
36:08But you know that
36:09I was told that
36:10in England
36:11you have to have
36:12an apartment
36:13that is maybe
36:14four times bigger
36:15Yeah
36:15So what we do
36:16is basically illegal
36:17Yeah
36:18But I also think it's
36:20you know
36:20for what are we waiting
36:21we also have to
36:22find solutions
36:24I don't want to say
36:25let's just rip up
36:26all the regulations
36:27and throw them on the bonfire
36:28because obviously
36:29they're there for a reason
36:30I love it
36:31I would just
36:31wish it was slightly bigger
36:33So we obviously want to make sure
36:34that we're building safe buildings
36:35and that's got to be absolutely
36:37you know
36:37first and foremost
36:38that doesn't mean
36:39we can't build them smaller
36:40Where would you put your bike?
36:42I do think we do need to start
36:43thinking definitely about things
36:44We are facing a housing emergency
36:46where people are quite often
36:48literally on the street
36:49they're homeless
36:49Plans like this
36:50which actually give people
36:51a safe, warm and secure
36:53place to live
36:54I think could be one of the
36:56suite of options
36:56that we look at
36:58You mentioned there's
36:58legal barriers in place
37:00and obviously
37:00I'm an MP in Parliament
37:02is there something
37:03that legislators in the UK
37:04could look at
37:05and seek to change maybe?
37:06Space is at a premium
37:08and we have lots of people
37:09who have a housing requirement
37:11and there aren't houses for them
37:12so I do think
37:12we need to think innovatively
37:14Surely
37:15kind of modern methods
37:16of construction
37:17is the future
37:18and it's really exciting
37:19to see it
37:19So certainly it's something
37:21that I can take back
37:21to Parliament
37:23something that the
37:23housing department
37:24can look at as well
37:25and see what regulations
37:26might need to change
37:26OK, to be fair
37:28these MPs were shown
37:29the design by
37:30enthusiastic advocates
37:31keen to find a solution
37:32to the housing shortage
37:33who may have influenced
37:35how the conversations went
37:36But
37:37if people we elected
37:38to Parliament
37:39are willing to consider
37:40that something
37:40the size of a prison cell
37:42could be an acceptable
37:43living space
37:44what hope do we have?
37:46The problem is
37:46they're the ones
37:47who could make this a reality
37:49Developers would build them
37:50and people would live in them
37:52because they have
37:53no other affordable options
37:54I mean I know this
37:55because I actually put it
37:56on a popular flat share website
37:58I've been completely honest
37:59about the size of it
38:00which is 96 square feet
38:02and I'd also had it valued
38:03by actual estate agents
38:05Do you think you'd have
38:05a pretty easy time
38:06marketing something
38:07like this stuff?
38:08With how the rental market
38:09is at the moment
38:10yes
38:11I'd say
38:11And in your area
38:12how much do you think
38:13you could charge monthly
38:14for rent on somewhere like this?
38:16Something like this
38:17thousand to one thousand
38:19one hundred
38:20How much do you think
38:21you could sell
38:22a flat like this for?
38:23You'd be looking somewhere
38:24between sort of
38:25two hundred and twenty-five thousand
38:26to two hundred and fifty thousand
38:27To see whether
38:28their valuation was accurate
38:30I listed it to rent
38:31for the one thousand
38:32one hundred
38:32they had recommended
38:33and we received messages
38:34from twenty-five people
38:36so we put the price up
38:37I put it up for fifteen hundred quid
38:38and we've had like
38:39eleven offers
38:41I'm going to try
38:41and put it a bit higher
38:42I'm going to ask
38:43for two thousand
38:44a month in rent
38:46Yeah someone's offered
38:47two grand
38:47Why shouldn't people
38:49be able to live
38:49in a space like this
38:50you know
38:50like if they want to pay for it
38:52if they want to live here
38:53why not?
38:53It's the same way
38:54as someone said
38:54well I want to work
38:55under minimum wage
38:56Right
38:57I want to do that
38:58it's my choice
38:59we stop that
39:00because there can be
39:00a race to the bottom
39:01I don't think this is
39:02like a human space
39:03this is not what
39:04we should be aspiring to
39:05in one of the richest
39:05countries in the world
39:06Treating the health problems
39:08caused by poor quality housing
39:09is costing the NHS
39:10over 1.4 billion a year
39:12We need real solutions
39:14that fix the cause
39:15not quick fixes
39:16that make the problem
39:17worse in the long run
39:19This government
39:20is planning on building
39:211.5 million homes
39:23over the next five years
39:24but unless we make sure
39:26that those homes
39:26are of decent quality
39:28things aren't going to improve
39:30Join me after the break
39:31for more
39:32how to trick your way
39:33onto the property ladder
39:36Welcome back
39:37I'm back in Liverpool
39:38catching up with
39:39Moment in South
39:40Any updates?
39:41Any life things?
39:43I'd say a major one
39:45is probably
39:45we've considered
39:47moving in with family
39:48going back
39:49into moving in with family
39:51just to save on
39:52like the rent
39:54plus the bills
39:55that come with renting
39:56Not only has their dream
39:57of home ownership
39:58been put on hold
39:59now their ability
40:00to rent their own place
40:02has had to take a back seat
40:03I do love having my own space
40:05I do love staying on my own
40:07sometimes
40:07but yeah
40:09I just sacrifice that
40:10will have to be done
40:11They're not the only ones
40:13making the sacrifice either
40:14The number of 25 to 34 year olds
40:17living with parents
40:18has increased by over a third
40:19in the last 20 years
40:21The harsh reality
40:22is this
40:23I promised Mo
40:25and Insaf
40:25a house
40:26and to you
40:27the viewers at home
40:29ways to trick your way
40:30onto the property ladder
40:31and I failed
40:33Turns out
40:35there is
40:35no quick hack
40:37no magic loophole
40:38no silver bullet
40:40that could possibly
40:40unlock a closed
40:41shop housing market
40:43which fakes in
40:44inequality
40:45by design
40:46The only trick
40:46that actually seems
40:48to work
40:48is access to wealth
40:50or being born
40:51at the right time
40:53Those that have property
40:55will keep getting wealthier
40:56and those that don't
40:59well they'll be frozen out
41:00Jesus
41:01There are a finite amount
41:02of lifeboats
41:03and the ship
41:03is sinking fast
41:05But that doesn't help
41:06Mo and Insaf
41:07right now
41:07I tried to get them
41:09accounts a house
41:09that they could then
41:10buy at a discount
41:11Didn't work
41:12I tried to steal a house
41:14from the king
41:15Didn't work
41:16I hypnotised an estate agent
41:18into signing over
41:18a house for a fiver
41:19That worked
41:21but it wasn't legal
41:22I even tried selling
41:23avocados to baby boomers
41:25for 20 quid each
41:2620 quid
41:27Because that's what
41:28they'd be if they
41:28inflated at the same
41:29rate as house prices
41:30since the 1970s
41:32or something
41:33No
41:35Actually
41:36I kept going with that one
41:3720 pounds
41:38Okay
41:39I'll go with that
41:40You're gonna do it?
41:40Yeah
41:41Oh brilliant
41:42See the over 50s
41:43owned 78%
41:44of the UK's housing wealth
41:46compared to just 5%
41:47of under 35s
41:48It's not a scam is it?
41:50No
41:50Now while I can't fix
41:52that entire system
41:53what if
41:53by selling overpriced
41:55avocado merch
41:56made by unpaid interns
41:58to the generation
41:59with all the houses
41:59I could redistribute
42:01some of that wealth
42:02to young people
42:03Those who don't have
42:04access to parental
42:05financial help
42:06A sort of
42:06bank of other people's
42:08mums and dads
42:08if you like
42:09Aided by a team
42:10of tireless volunteers
42:11over the course
42:12of filming this programme
42:13I've actually been selling
42:15avocado merch
42:16created by boomers
42:17across the country
42:19to generous members
42:20of the British public
42:21who are all keen
42:22to help me
42:23in whatever way
42:24they could
42:24make good on my promise
42:26to get my house hunters
42:28on the ladder
42:29Despite a massive effort
42:30from everybody
42:31selling thousands of pounds
42:33worth of avocado merch
42:34we've still come
42:35a long way short
42:36of our target
42:37Yeah
42:38it's just gonna take forever
42:39I don't know
42:40how much longer
42:40we're gonna be able to do this
42:41the market's fed up with us
42:42like I don't know
42:44As we pack up
42:45and leave to call it a day
42:46something weird happens
42:48Matt, one of our sellers
42:49meets someone
42:50who invites us downstairs
42:51to a work party
42:52that they say
42:53would be interested
42:54in our mission
42:55we've got a couple
42:57that we're trying to help
42:57we're trying to get them
42:58a ten grand deposit
43:00we're selling prints
43:01of avocados
43:02I'll give you some money
43:03Ah, how much are you up for?
43:04500
43:05500?
43:06No way!
43:07This is the godfather
43:08of St. Louis
43:09500?
43:10Harry Hill
43:11That is unbelievable
43:13500
43:15Thank you, Harry
43:17What an absolute legend
43:18Who is Harry then?
43:20So Harry was
43:21chairman of Bright Moon
43:23So Harry Hill
43:24not that one
43:25founded multi-billion pound
43:26property site
43:27Bright Moon
43:28and it turns out
43:29we inadvertently
43:30walked into an office party
43:31full of estate agents
43:32and I promise you
43:33this sounds set up
43:34but it wasn't
43:35and Harry's donation
43:37opens the floodgates
43:38but despite shifting
43:39£2,000 worth of prints
43:41in 30 minutes
43:42we still haven't met our target
43:43We're three grand short
43:46Are you up?
43:49So you're done?
43:51You thought that'll be here?
43:58That's it?
43:58We can have a house
43:59Yeah, that's enough
44:01That's it now
44:02That's absolutely insane
44:03Thank you so much
44:06We just did it
44:08I have no idea
44:09what it means
44:10but I guess we got
44:11estate agents
44:12to buy us a house
44:15Probably a more true
44:16end to this story
44:17would have been
44:17us not getting them a home
44:19You know, I'm still renting
44:21Most of the people
44:22on my team
44:22are still renting
44:24and most of the people
44:25watching this probably
44:26because it's a younger audience
44:27will be renting
44:27People will be watching this
44:29and just going
44:29you know, why could that
44:30have not been me?
44:31And I completely sympathise there
44:33you know, there are millions
44:34of people in this country
44:35that deserve housing
44:36and you cannot rely on the acts
44:39of random rich people
44:41to provide that
44:42Despite Uber's jubilation
44:43reviewing his receipts
44:45from the avocado sales
44:46he finds his takings
44:47weren't as high as he thought
44:48Having made a promise
44:49to Moen Insaf
44:50he had no choice
44:51but to ask Harry
44:52for help
44:53I've made a mistake
44:55I ended up
44:57miscalculating
44:57how much we had
44:58and how much we need
45:00We've got seven grand
45:01not ten grand
45:03we need ten
45:04and I just didn't know
45:05whether there's any
45:06way
45:07that you could get us
45:08up to
45:10that ten
45:10I understand that you've done
45:12everything you need to
45:13and you can feel free
45:14to tell me to piss off
45:15I got excited
45:16and I thought we had already
45:17hit what we needed
45:18and we hadn't
45:21You're three grand short
45:23Yeah
45:24Okay
45:25We'll ask this
45:26when we give you
45:26one thousand
45:27and then I'll
45:29do a note around
45:29and see whether
45:30I can find you
45:30the other two
45:32Are you sure?
45:34Honestly
45:34Yeah, honestly
45:35Harry managed to find
45:37an extra thousand
45:37but it meant we were still
45:39two grand short
45:40of our target
45:40so Uber had to
45:41dig into his own pocket
45:43and pay for it himself
45:44So while we've been
45:45trying to get
45:45two prospective
45:46house owners
45:47on the ladder
45:47we've only managed
45:48to raise one deposit
45:50which means that
45:50someone has to receive
45:52bad news
45:52So how's it going guys?
45:54Any updates?
45:55Just taking
45:55Focusing on
45:56one goal
45:57How's the saving
45:57any updates there?
45:59Yeah
45:59Chipping away
46:00Just slowly
46:01Yeah, just chipping away
46:04On his way up to Liverpool
46:05Uber came across
46:06one last hidden
46:07London gem
46:09So Uber, this is our
46:10lovely garage
46:11It's terrace
46:13So we're about a
46:13four or five minute
46:14walk away from the
46:15tube station
46:16Right
46:16We've got the rail
46:17as well
46:17It's very quiet
46:18Yeah
46:19It's very secure
46:20Yeah, absolutely
46:21So let's have a look
46:22inside, shall we?
46:23Yes, please
46:23We have an upper
46:24over door
46:26Oh, nice
46:27It's not bad, is it?
46:28No
46:29There's obviously
46:30electric
46:31There's access
46:31There's electric
46:32There's a light point
46:33Cool
46:33And you've got
46:34communal water as well
46:35There is running water
46:36Yeah, there's running water
46:37Great
46:37Yeah
46:37What price are you
46:38looking for on this?
46:39So it's on the market
46:40for 45,000
46:4145
46:41I have 10,000
46:43Oh
46:44Is that
46:45That's not a bad deposit
46:46It's not a bad deposit
46:48Yeah
46:48I've raised 10 grand
46:49Yeah
46:49And I'm looking for
46:50what that
46:50doors that opens to me
46:52And I was hoping
46:53that this might be
46:54a first step on the
46:55ladder in London
46:57Of a sort
46:58We've sold
47:00storage cupboards
47:01in the past
47:01You have
47:02But even they've
47:04been up around
47:0440,000 pounds
47:0640,000
47:06Your 10,000 pound
47:07will go some way
47:08But it's not going
47:09to get you
47:09a whole unit
47:11Okay
47:12What it could do
47:13You could rent it
47:14for a period of time
47:15As tempting as the
47:17offer to rent
47:18the property was
47:18Uber decided
47:19that it wasn't
47:20quite what he was
47:21looking for
47:2310,000 pounds
47:25Yeah
47:2510 grand
47:26For us
47:26All you guys
47:2710 grand
47:29Serious
47:30Yeah
47:31Wow
47:32Seriously
47:34Why are they
47:35coming out now
47:35for fuck's sake
47:36The bit that we
47:37bloody wanted
47:38on camp
47:40But anyway
47:41This is for you guys
47:42It's not a prank
47:42No
47:43Definitely not
47:44No this is real
47:45Oh my
47:46This is 10,000
47:4810,000 pound
47:50Hopefully it can get you
47:51a house
47:52or whatever you guys need
47:54Yeah
47:54100%
47:56There you go
47:57That is amazing
47:58That's amazing
47:59I set out to understand
48:01the complexities
48:02of the housing crisis
48:03To get my head around
48:05why so many people
48:06are struggling
48:07with home ownership
48:07and what our society
48:09can do
48:09to tackle that
48:11But what I think
48:12we've achieved
48:12is something
48:13far more profound
48:14We've provided a clear
48:16repeatable model
48:17that anybody
48:18watching this
48:19can use
48:19to get themselves
48:20a home
48:21They just need
48:22to be the kind
48:22of person
48:23to be featured
48:24on a property show
48:25Shut up
48:26So just do it
48:27right now
48:28Get a property show
48:29and you will have
48:30a mortgage
48:30By the end of the day
48:32Finally
48:32A Britain
48:33where everyone
48:34has a house
48:35hao
48:36One
48:37One
48:37Two
48:39Two
48:39That
48:39Three
48:40Two
48:40Two
48:41Two
48:42Three
48:42Two
48:47Three
48:48Three
48:50Two
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