ASK222: How long should I fix for? PLUS: Is "no money down" the way to go?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 11 February 2020

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rob & Rob are back once again for another epic episode of Ask Rob & Rob. This week they’re trying to help two callers with mortgage advice and are giving their thoughts on wherever they think no money down deals are a good idea. Our first caller this week is Adamish and his question is on to buy-to-let mortgages. He’s spoken to a mortgage advisor and they’ve advised him to refinance his current property on a fixed five year buy-to-let mortgage as the checks are a little more relaxed. So essentially he’s wanting to know what Rob & Rob would do if they were in his shoes as a first time investor. Does the current property market have any effect on how long he should get a fixed buy-to-let mortgage for? Or should he even be going for a fixed buy-to-let mortgage? The second question this week is from Ashley who’s calling from Wales and he’s been drawn in by the idea of no money down deals. Uh oh! Ashley has done two previous flips so now has a bit of equity behind him. He’s looking at turning his strategy to vanilla buy-to-let properties but he’s wondering how to go about it. Should he straight away set up a Limited Company and keep buying a single buy-to-let each year over the next 10 years and build his portfolio up that way? Or should he hold onto his money and explore the world of no money down deals? We’ve heard The Robs views on this in the past, but what advice would they give? 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.
0:05.4	Welcome to Ask Rob and Rob, where every Tuesday you ask two questions and we give you two answers. It's simple, it's
0:14.7	effective and thankfully we can keep it going because we've got another couple of
0:17.4	excellent questions to answer today. Before we get into those, Rob how about a
0:21.6	quick recap of how someone can send in a question of their own?
0:24.4	Oke-Doke, you've got two easy options. You can call in. You can call in on 013- 808,
0:30.4	triple-O-35 and leave us an answer phone message there or you can go to
0:35.3	property hub dot net forward slash ask and record a message for our website if you can
0:40.7	mess it up don't worry you can record it again. It's not live, no pressure.
0:44.0	That's all on us to deliver you some good answers. So let's try that.
0:48.0	Hi Robin Rob, it's Darmesch here from London.
0:51.0	First of all, like everybody else, I'm going to thank you very much for all the free
0:55.0	content that you provide on the internet and on your podcast I've read your book and I've been through your courses as well and
1:01.2	have massively helped me improve my confidence into getting my first
1:06.4	bite let and as such I'm looking for properties and looking to get properties this weekend in
1:12.4	Manchester area. My question has to do with
1:16.2	by-to-let mortgage. I've broken-to-m mortgage advisor and what they have advised me is when I'm refinancing my current property is to
1:27.0	use five-year buy-to-let because apparently the checks are more relaxed on it and I can get
1:37.9	finance easier as well for by to let on it I just wanted to know what all your
1:41.9	views on it what do you think in this current climate,
1:46.3	what would you in my place do? Would you go for a five-year bike to let or would you go for a shorter period? Thanks and I look forward to your reply.
1:57.0	Thank you, great question. So you'll already know this but for the benefit of everyone listening.
	...

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