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The Property Podcast

ASK307: Has an off-plan delay worked in my favour? PLUS: How do I work out which mortgage deal is cheapest?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.8 • 2K Ratings

🗓️ 19 October 2021

⏱️ 7 minutes

🧾️ Download transcript

Summary

It’s Tuesday and Rob & Rob are back for another round of listener questions!  Our first question is from John in Chorley.  John bought an off-plan property, and the completion is a couple of years behind due to some delays.  What John wants to know is if the property has gone up in value since he purchased, could he use the equity and complete without putting any money in?  Next up we’ve got a question about mortgages from Sammy.  Sammy wants to know if it’s better to have a higher product fee and a lower interest rate or the other way around.  Tune in to find out what the guys have got to 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.

0:06.2

Hello everyone, this is Ask Rob and Rob, the show where you get your questions in, sometimes

0:13.2

property related, sometimes not, and we do our very best to answer them, and in fact we've

0:18.1

got a bit of a track record of answering number over 300 episodes in, so we're doing

0:22.0

a pretty good job at it, and you're doing a pretty good job of getting your questions

0:25.3

in as well, possibly because we made the commitment to answer them, but also probably because

0:30.8

it's really easy to get your question in, but let's give you a quick reminder of how

0:34.4

you can do that.

0:35.4

Yep, you just got to call 0138083035, that's 0138083035, or if you struggle to remember

0:42.8

phone numbers like I do, you can just go to property hub.net slash ask instead, either

0:47.8

way you'll just leave us a voice belt with your question, and then in due course, we will

0:51.8

answer.

0:52.8

We're about to, right now, for John.

0:55.3

I, Rob and Rob, it's John here from Charlie, and my question senses around off-plant purchasing,

1:03.0

given the delays that have occurred, the projects around the couple of years behind schedule

1:07.4

for delivery, but the purchase price being locked in a couple of years ago now, there could

1:13.4

be potentially four or five years between purchase price being agreed and completion

1:18.4

of the development, is it conceivable, therefore, that if the property price has gone up more

1:24.6

than 25% in that period, that I could actually complete on the deal without putting a deposit

1:31.4

down because there would be more than 25% equity in the deal, not if that's a part dream

1:37.3

or something realistic, but it might be an interesting discussion point.

1:41.0

Hey, John, it's great that the market is on your side and things are moving in the

...

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