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The Property Podcast

ASK278: Am I walking into a money-pit? PLUS: Should I put my savings into shares?

The Property Podcast

Rob Bence & Rob Dix

News, Investing, Education, Business, Business News

4.82K Ratings

🗓️ 30 March 2021

⏱️ 9 minutes

🧾️ Download transcript

Summary

Welcome back to another episode of Ask Rob & Rob. Kicking things off this week is Lily.  She’s recently put in an offer on a leasehold apartment in a Grade II listed building and had it accepted. However, after having the structural report done, the results were shocking. Even though the property looked incredible on the outside, it clearly hadn’t been looked after on the inside. So what do Rob & Rob think Lily should do?  Should she walk away from the purchase or use the structural report to her advantage to try and negotiate a better price on the property? Next up we’ve got Tomas.  He currently owns a couple of buy-to-let properties and at the moment the income he gets from them he just sits in the bank. Tomas wants to save this money to buy another buy-to-let property but he’s wondering if he should leave the money in the bank, or if he should invest it elsewhere, like into shares.  He’s previously looked at an app called MoneyBox but wants to know if that’s a good idea.  So what’s the better option, leave money in the bank or invest it in shares?  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

Click on a timestamp to play from that location

0:00.0

Hello everybody and welcome to Ask Rob and Rob, the show where you get your marvellous

0:12.5

questions in, and we do our very best to give you some half decent answers back.

0:17.1

This week we've got two great questions coming up, but before we get going here's just

0:20.4

a quick reminder of how you can get involved yourself.

0:23.3

We don't make it too difficult for you, all you've got to do is give us a call on 013

0:27.2

808 AAA 35, or head over to propertyhub.net slash ask.

0:31.8

Either one of those methods will allow you to leave us a voicemail, get your question

0:35.6

recorded, it'll wing its way over to us, and we, in the fullness of time, will answer

0:39.9

it, just like we're about to do now for Lily.

0:42.5

Hi Rob and Rob, my name's Lily, I'm a regular listener, thanks so much for your great podcast.

0:48.2

I recently put in an offer on a lease hold flat in a grade 2 listed building.

0:52.4

It was accepted, but then I just had my full building structural survey done, and it

0:56.9

did not get a clean bit of health at all.

0:59.4

The owners haven't taken good care of the building, even though, cosmetically, the building

1:03.6

looks gorgeous.

1:05.2

My question is, would that be enough to make you walk away from a purchase, or would

1:09.3

you try to use this to get a heavy discount on the sale price and nab a deal?

1:13.5

What rights do lease holders have when it comes to how much financial burden they will

1:17.9

receive with repairs?

1:19.7

I'm worried I'm working into a money sinkhole, I'd love your advice, thanks so much.

1:24.8

Hey Lily, thank you for your question.

1:26.8

I'm going to actually reverse your questions round and start with the second question

...

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