ASK212: How can I buy my own home and invest at the same time? PLUS: How much stamp duty will I need to pay?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 12 November 2019

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rob & Rob are back again this week to answer two more fantastic property questions from two of our listeners. This week our first question comes in from Luke in Manchester, who’s been inspired by The Property Podcast to get started in his investment career. Luke is in a situation that most people are probably in when trying to start their buy-to-let journey. He’s looking to purchase his first personal home and an investment property at the same time. At the minute he’s only going to have enough funds for one mortgage so he’s considering buying a two bedroom apartment (or house) and is looking to rent out the second bedroom. But he has a few questions around this: Is there a particular mortgage he’ll need to enable him to do this? How much stamp duty will he have to pay? Are there any other considerations? ...and is this actually a good idea? Find out what Rob D thinks of this idea and if it’s actually doable. Maybe this could work for you as well. Our second caller is Sally who has a question about stamp duty. She’s changing her residential home to a buy-to-let so that she can buy a new house with her partner. She’s been given two different sets of figures from her solicitor and mortgage broker in terms of how much stamp duty she’ll pay. One is saying £2,200 and the other £9,250! Obviously that’s a huge difference so Sally wants this clearing up. So, is Rob B about to put her mind at rest or burst her bubble? Tune in to find out! 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. And I'm Rob. And this is Ask Rob and Rob.
0:08.0	Welcome to Ask Rob and Rob. It's Tuesday. There are two Robs here that can only mean that two property questions are about to be answered
0:14.9	We've got a couple of crackers today, so we'll be listening to those in just a sec after a quick recap of how to send in a question of your own
0:22.4	Yeah, you can leave us a voicemail you can call in on quick recap of how to send in a question of your own.
0:22.7	Yeah, you can leave us a voicemail.
0:24.0	You can call in on 013 808,000.35.
0:28.0	Or you can head to Property Hub.
0:30.7	Dot Net.
0:31.6	forward slash Ask.
0:33.0	And you can click a little button and leave a recording app like.
0:36.0	Either way, super simple.
0:37.0	It must be because we've done hundreds of these.
0:39.0	And this week is no different because we've got two great questions in.
0:42.0	The first one coming from Luke.
0:45.1	This is Luke in Manchester. I have to commend you on the quality of the
0:50.0	Property Podcast. I think it's amazing and it really inspired me to get started in my investment career
0:57.1	I'm in a situation whereby I'm looking to buy my first place and start a property portfolio at the same time.
1:06.0	And I'm wondering if you have any particular information or advice
1:09.4	for someone that's looking to do those two things.
1:12.2	At the same time time particularly with regards to I think maybe a
1:16.9	two bedroom flat or house and renting out the other room is there any particular
1:21.4	mortgage that you need to do that? Are there any other
	...

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