ASK205: How many mortgages can I apply for at once? PLUS: Should I invest in Scotland?

The Property Podcast

Rob Bence & Rob Dix

News, Investing, Education, Business, Business News

4.8 • 2K Ratings

🗓️ 24 September 2019

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re back with another episode of Ask Rob & Rob, and the first question this week is from John. John would like to know how many mortgage applications he can have on the go at any one time. He’s looking at buying 3 buy-to-let properties but is concerned about the effect that 3 different buy-to-let mortgage applications could have on his credit file. Is John right to be wary of multiple applications? Will these multiple marks on his credit file make a difference to his applications - and more importantly, could it cost him the mortgage product he’s wanting to go for? Listen as Rob B talks through what is likely to happen and find out how John can manage the impact of multiple mortgage applications. The second question came in from someone who didn’t leave her name, so we’re calling her Pauline. Pauline has recently been inspired by Mark who’s gone from 0-10 properties in 5 years. She loves the podcast but would like Rob & Rob to have more of a focus on Scotland, which is where she’s interested in investing. We have previously done a whole episode on investing in buy-to-let property in Scotland where The Robs talk through the best places to invest and cover the property buying process - which differs vastly from those in England. But what other nuggets has Rob D shared with Pauline about investing in Scotland? You’ll have to listen to find out. And don’t forget to tune in next week for another two questions on Ask Rob & Rob. 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

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0:00.0	Hi, I'm Rob.
0:03.4	And I'm Rob.
0:04.4	And this is Ask Rob and Rob.
0:08.8	Welcome to Ask Rob and Rob, the show where you ask questions, hopefully about property.
0:12.1	We give answers, and everyone goes away a little
0:14.5	bit wiser in an unpredictable topsy-turvy world it's a reliable part of your week this
0:20.3	week we've got two excellent questions coming your way after this reminder of how you can send in a question of your own.
0:25.6	Yeah, I'm sure you've got us on speed dial now for your property questions, but if you haven't, make sure you are by typing this number in,
0:31.6	it's 013-8,O-O-35, or you can go to our website Property Hub.
0:38.4	dot net forward slash ask. It's super simple to do, you can mess it up and record again. Don't worry. You don't have to do it in one take.
0:46.1	And then when you're happy, you'll sound something like John.
0:49.2	Hi Rob and Rob. And it's John here. I want to start just like everyone else by saying a big thank you for all the
0:57.2	Podcasts and all the information that you provide. It's really really helped me a lot in my journey as building up my portfolio. I started listening to you at the start
1:06.3	of the year and I managed to acquire to buy Tulets. But the question I have for you is how many mortgage applications can I have at one go so if I'm
1:18.5	looking to buy three different properties can I apply for three different mortgages at the same time or will they have any effect on my credit rating or say if I have a mortgage already approved and I apply for another mortgage can it then get
1:34.8	decline that further down the line. Just so I know how many mortgages I can apply
1:39.9	for, your advice would be highly beneficial because I can't find anything on the net about this.
1:46.0	Thank you very much.
1:47.0	Thanks for your question John and your kind words.
1:49.0	Sounds like you're a busy boy right now.
1:51.0	Going for it with the mortgage is very impressive. I like it that you're a busy boy right now going for it with the mortgage is very impressive I like
1:54.0	it that you're taking action a massive action at that there's a few things to say on
	...

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