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The Property Podcast

ASK296: Should I buy another BTL or a bigger home? PLUS: Will my next mortgage be a problem?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 3 August 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

The guys are back for another fantastic episode of Ask Rob & Rob.  First up this week we’ve got Lil who’s looking for an answer to a common question we get asked.   Lil currently has a residential property in London that she lives in, and a buy-to-let property in Liverpool.   She’s going to be moving cities soon and needs a property with more space, so she’ll be switching her residential property into a buy-to-let property.  In the short-term, Lil plans to rent herself until she finds the right property, but she can’t seem to figure out which scenario is best.   Should she use the money she has to purchase a bigger property that’ll serve her needs, or should she put it into another buy-to-let property and continue to rent herself?  Our next question comes from Bern who has a question about mortgages.  Currently Bern has two buy-to-let properties, one in his personal name and another in a limited company.   Bern is planning to purchase another buy-to-let property through his limited company, and then look to purchase a residential property for himself.  He’s wanting to know if when it comes to purchasing the residential property if he’ll have any issues getting a mortgage if he already has three other properties?  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

Hello everybody and welcome to Ask Rob and Rob to show where you get your questions

0:12.0

in and we give you answers and normally those questions are probably related and that's

0:16.8

absolutely fine.

0:17.8

I mean we are the property podcast so it kind of makes sense right but remember you can

0:22.0

open that up so if you want to ask about personal development, economics, business or even

0:27.4

if you're curious about what we do and what we're up to then feel free to ask us questions

0:31.6

about those topics too, we often cover them on the podcast as well.

0:35.2

So now that we've opened the field up and let you know that we can answer more than just

0:38.4

property questions, we better remind you of how you can get your question in.

0:41.9

Oh yep that hasn't changed just call 0138083035, that's 0138083035 or alternatively you

0:49.6

can go to property hub.net slash ask.

0:52.7

Both of those methods will allow you to send us a voicemail, you can re-record it if you

0:56.7

get it wrong, don't worry we often do and then your question will wing its way across

1:00.0

to us for us to answer just like we're about to now for Lill.

1:03.7

Hi Rob and Rob firstly I just want to say a big thank you for your podcast and allowing

1:08.2

us listeners to put all our questions in which I do find really really helpful and I'm

1:12.6

sure everyone else does too.

1:14.7

So my situation is that I have a residential property that I live in in London and I have

1:20.7

a buy to let that I own in Liverpool.

1:22.6

I'll be moving cities soon for work and I'll need a bigger place and so because it's

1:27.6

quite a quick one I'll be changing my residential rent in that out and renting in a different

1:33.6

city in a larger property.

...

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