ASK228: How do mortgage holidays actually work? PLUS: Should I reduce my rent?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.8 • 2K Ratings

🗓️ 24 March 2020

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s Tuesday which means it’s another episode of Ask Rob & Rob, and they’re changing things up today. Coronavirus has naturally ramped up the number of questions we’ve been getting through. So Rob & Rob have decided to combine some of the popular ones. The main question we’ve been asked is around buy-to-let mortgage holidays. There appears to be a fair bit of confusion about how these work. Rob & Rob have addressed the situation to give property investors a better understanding. Here’s what you can expect them to answer: Can I get multiple mortgage holidays? I have properties with several different lenders, will they all honour it? I’ve got a property that's currently empty between tenants, can I get a mortgage holiday on it? If I take a mortgage holiday do I have to defer the rent to my tenant? As the demand for letting property right now is likely to drop, should landlords be taking a reduction in rent? Well…tune in and you’ll find that one out! With all the negative news going on right now, the Rob’s are always here to answer your questions and keep you updated on the property market. So sit back, relax and have a nice cuppa while The Robs keep you updated on the most asked questions. 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.
0:03.2	And I'm Rob.
0:04.2	And this is Ask Rob and Rob.
0:05.6	Hello everyone.
0:09.2	Yes, we're back, of course we are with Ask Rob and Rob. No prices for guessing the topic of this week's episode,
0:14.8	but completely understandable as well. So before we get into it, let's give you a quick reminder of
0:19.6	how you can get involved the show. Yeah, of questions around at the moment so get them
0:23.4	into us call oh one three 808 triple oh three five that's oh one three eight oh eight oh three five
0:29.6	or go to property hub dot net slash ask with either method you can leave us a voicemail and we will play it on the show followed by an answer.
0:37.0	But this week Rob because everything's moving so quickly at the moment,
0:40.0	the normal rules have been suspended.
0:42.0	Yes, we have had so many different topics.
0:44.0	What we've done is kind of combined a few
0:46.0	and just answering the ones that seem to be the most pressing,
0:48.0	the ones that you most want answers to.
0:50.0	Of course, we could don't want for hours,
0:52.0	but we are podcast in three times a week at the moment. So don't worry I'm sure we'll get
0:55.4	through it all in due course. But Rob one thing that's coming up time and time
0:58.8	again with investors and landlords at the moment are lots of questions around mortgage holidays.
1:04.0	Yeah loads of questions around mortgage holidays because the way the news came out about this was quite confusing.
1:10.0	Initially it didn't apply to landlords at all. it was only owner-occupiers and that was
1:14.2	changed about a day later and there's so much confusion and so many edge case scenarios that
	...

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