ASK187: How do I get the funds to develop my properties? PLUS: How much income should I show to maximise my mortgage choices?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 21 May 2019

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On this week’s Ask Rob & Rob, Dave Cookson is back to answer more mortgage related questions. Mortgage broker Dave has appeared on The Property Podcast numerous times and most recently busted some of the most common mortgage myths in conjunction with the launch of Property Hub Mortgages. And today he’s back to answer your mortgage related questions. The first question is from Rob (yes, another Rob!), who has two properties in his portfolio - both are based in London and have development potential. He’s pretty confident that if he does these improvements, both the rental and resale value will increase. But how does he raise the initial funds to crack on with his plans? Both of his properties are on a standard 75% LTV mortgage and the lenders are not allowing any further advance. Does Dave know of anything Rob can do? The next question comes in from Hannah. Hannah runs her own business and has the choice of how much income to take in the form of dividends, whilst leaving the rest in the business to avoid paying more tax. She owns her home outright so doesn’t have many outgoings. But she’s heard somewhere that lenders want to see a minimum amount of personal income. With this in mind, Hannah wants to know how much she needs to start paying herself from her business to maximise her mortgage options? She’s also been told that lenders don’t count rental income as personal income. Is this True? Tune in to find out what Dave has to say... Do you have a buy to let or property investment related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. The next question on Ask Rob & Rob could be yours. Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself. See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0	Hi, I'm Rob.
0:03.4	And I'm Rob.
0:04.4	And I'm Dave.
0:07.8	Wow, we have a super special Ask Rob and Rob and Rob and
0:11.5	Dave this week because yes yes we are joined by Dave
0:14.3	Cookson from Charles Louis mortgages we are blessed because Dave's knowledge on
0:19.6	mortgages is second to none and we've got him in for your questions. Now that would
0:24.8	be normally enough excitement for one episode but we are launching Property
0:29.2	Hub mortgages and Charles Louie and Dave Hookson are powering that service.
0:34.0	It's super exciting, but if you want to find out more, go to Property Hub.
0:38.0	Dotnet. Forward slash mortgages.
0:40.0	And now you know we've got Dave Smarts available to us at any point or time, you'll probably
0:44.6	want to get your mortgage questions in.
0:46.4	So how'd you do it?
0:47.6	The good news is the process hasn't changed.
0:49.9	It's really easy to do.
0:51.1	Just give us a call.
0:51.9	Oh, 1.38. 808 triple 0.35.
0:57.0	You can leave us a voicemail there or you can do exactly the same thing via your computer
1:01.6	by going to Property Hub.
1:02.8	Net slash Ask.
1:04.4	So Dave is all warmed up and ready,
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Rob Bence & Rob Dix, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Rob Bence & Rob Dix and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.