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The Property Podcast

ASK288: Should I consider this ratio when buying? PLUS: Can I finance a refurb with an offset mortgage?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.82K Ratings

🗓️ 8 June 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

Welcome back to another episode of Ask Rob & Rob. The guys are ready and raring to go, answering more caller questions.   Kicking things off this week is Andrew.   Andrew wants to know if the average house price to earnings ratio is something that The Robs think people should consider when looking to purchase a property.   Or is it just simply based on mortgage costs and interest rates?  Our next question comes from Joe.   Joe’s been doing all his homework and has read all of Rob D’s books. He’s convinced that the only way to renovate a house and sell it on quickly is by using a bridging loan.   But Joe has since spoken to someone who told him offset mortgages were also a good option if you already own your own home.   So, naturally Joe wants to get Rob & Rob’s advice to see if they’d recommend using an offset mortgage.   Tune in to find out what they say.    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

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 that time again. We've got two wonderful questions

0:12.0

from two wonderful listeners and we are going to provide the best answers we can. Now before

0:16.6

we get going with this week's Ask Rob and Rob, you may have noticed that there wasn't

0:20.8

an episode of Ask Rob and Rob last week or other there was, briefly and then there wasn't.

0:25.8

The reason for that is that I made a mistake in one of the answers that we gave. So as

0:30.8

soon as we noticed, which was after a few hours of being published, we pulled it down. However,

0:35.1

if you did hear it in those few hours while it was up, I think it's worth setting the

0:38.8

record straight. So the question was about stamp duty and I said that if you owned property

0:45.0

in a limited company, then bought a residential property, you'd have to pay the search

0:49.3

charge on that residential property. That was incorrect. If you own properties in a limited

0:54.8

company, however many you own in that company, and then you buy a residential property,

0:59.5

which is the first property in your own name, then you'll not have to pay the search

1:03.2

charge on that residential. So I'm sure there will be people who will be much happier

1:07.4

with that answer than the one that I actually gave in the podcast, wrongly. So sorry if

1:11.3

I caused a bit of panic there. Like I said, we took the episode down as quickly as we

1:14.5

could, but now we've set the record straight. So we can get on with this week's episode.

1:18.1

After this quick recap of how you send your own question in. Yes, it's super simple.

1:22.4

There's two options you can go to property hub.net, forward slash ask, and you can record

1:28.0

a message there nice and simple, or you can call in on our hotline. Sounds more glamorous

1:33.3

when you call it a hotline rather than a voicemail. And it's 013 808 triple O35, which ever

1:39.9

option you choose, you just leave a message. And then hopefully, in the not too distant

...

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