ASK341: What can I do with my savings? PLUS: Pay off the interest or the capital?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 12 July 2022

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Rob & Rob are answering some cracking questions for you this week, so let’s get stuck in!

First up Claire who’s wondering what she should do with her short-term savings.

She currently has three buy-to-let properties and is looking to purchase her fourth. As she’s unable to release any equity for around 18 – 30 months, she’s been building up her deposit in the bank.

But as a fan of The Property Podcast, the recent Inflation episode has got her wondering if there’s something else she could be doing with her savings in the short term to stop inflation eating away at them.

Next up, Ollie from Wiltshire has a question about mortgages.

He’s hoping to purchase his first property soon and is initially planning to live in it before he turns it into a rental property. What Ollie would like to know is should he get an interest only or repayment mortgage?

Tune in to find out what advice Rob & Rob have got for our listeners this week.

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.

And if you’d like to find out more information about Portfolio you can do that here.

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.
0:07.9	Welcome to Ask Rob and Rob, the show where we are in the business of answering property
0:12.1	questions.
0:13.1	Answer's coming up in just a sec for Claire and Oli, but first Rob, how do people send
0:17.1	in their own questions?
0:18.1	It can't be that hard.
0:19.1	It is not because you can either phone in, leave us a voice mail, or you can leave us
0:22.4	a voice message via our website.
0:24.3	If you want to use the old dog and bone, you can dial 0138085035, or you can go to Property
0:31.6	Hub.net, forward slash, Ask, super simple, and that's exactly what Claire has done.
0:38.2	Hi, Rob and Rob, my name is Claire, thanks for all the information on the Property Hub.
0:44.6	I really enjoy listening.
0:46.7	My question is, what should I do with the money that's set in the bank while I wait for
0:51.9	it to build up to get enough to buy the next property?
0:55.9	Currently got three vanilla vitalettes and won't be able to release equity for another
1:01.2	18 months, two and a half years, and then obviously the rent building up in the bank, but given
1:07.6	the episode, my inflation, the money's not really doing much that in the bank at the minute,
1:11.9	so what should I do in the short term before I have enough capital ready to buy my next
1:17.4	vitalette property?
1:18.4	Looking forward to hear what you have to say.
1:20.9	Thank you.
1:21.9	Thank you, Claire.
	...

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