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The Property Podcast

ASK316: Should I go ahead with this expensive mortgage? PLUS: How should I use the property cycle when refinancing?

The Property Podcast

Rob Bence & Rob Dix

News, Education, Business, Investing, Business News

4.82K Ratings

🗓️ 18 January 2022

⏱️ 8 minutes

🧾️ Download transcript

Summary

It’s Tuesday and you know what that means! Rob & Rob are back with another round of listener questions.  This week we’ve got two great questions about mortgages.  Our first question is from Cameron from South Africa, and it's got the guys divided  Cameron is around 2 years away from getting his permanent residence in the UK and this has caused lenders to be reluctant, leaving him with limited mortgage options.  He’s currently looking at getting a flat in Nottingham city centre and has recently been offered an interest only mortgage, with an interest rate of 7.7%!  What he wants to know is what Rob & Rob would do in this situation. With Nottingham being one of our hotspots for 2022 would they still invest?  Next up, we’ve got a question from Arun.  The mortgage term on Arun’s home is due for renewal in 2025, and according to the 18-year property cycle, a crash is due slightly after this.  Arun wants to know Rob & Rob’s thoughts on refinancing before you suspect a crash is coming and whether the risk of negative equity is such a bad thing?  Thankfully for Arun, we’ve got the perfect podcast episode to help answer this. In fact, it’s almost as if we recorded this episode, just for him.  How do you use leverage in a boom and crash?   Tune in to find out what else Rob & Rob 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.

0:08.1

Welcome to Ask Rob and Rob.

0:09.6

It's a Tuesday.

0:10.6

That means it's Ask Rob and Rob Day.

0:11.8

That means two intrepid listeners have called in with their questions and we're about

0:15.2

to give them the best answers we possibly can.

0:17.8

We've got questions coming up from Cameron and Arun today but before we hear those questions

0:22.1

we'll write your question.

0:23.1

How do you send it over to us?

0:24.4

Rob, let them know.

0:25.4

Well, we haven't changed the format for 2022.

0:27.6

So it's really simple.

0:28.8

You can go to property hub.net forward slash ask and leave us a message there.

0:34.5

You can be recorded if you mess it up.

0:36.1

No pressure to just get your question in or likewise on the telephone can leave a voice

0:40.3

mail.

0:41.3

Leave as many as you want until you get it right.

0:42.8

It's a 13808 triple O35 super simple and that's the format that Cameron has followed.

0:50.0

Hi, I'm Rob.

0:51.0

It's Cameron here with a question about mortgages before I do ask that.

0:55.1

I just want to thank you very much for a wonderful podcast that I found very helpful and inspiring.

1:01.1

As you can probably tell from my accent, I'm South African and I've only been in the UK

...

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