ASK347: Is the market just too hot? PLUS: Is this a risky cash buy?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 23 August 2022

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Rob & Rob are back for another round of listener questions, and they’ve got some cracking ones!

Kicking us off this week is Luke from London.

The market is hot right now, that’s no secret and this combined with the aftermath of Covid-19 and the war in Ukraine Luke is wondering if what the 18-year cycle predicts is still accurate...

Will we be waiting until at least 2026 for a crash or are we heading towards an early winner's curse?

Next up, Sophie’s looking for some advice on an upcoming purchase.

She’s looking to purchase a property, but it currently has no kitchen or bathroom, so lenders won’t mortgage it due to it being uninhabitable.

Sophie plans to borrow some cash from family/friends to top up her savings and buy it outright. Once she’s bought the property, she plans to install a cheap bathroom/kitchen with the hope that she’ll then be able to remortgage.

She’d like to know what Rob & Rob think of this plan and if they have any other suggestions to help her get the deal across the line.

Tune in to find out what advice the guys have got for these listeners.

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

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0:00.0	Hi, I'm Rob and I'm Rob and this is Ask Rob and Rob.
0:08.2	Welcome to Ask Rob and Rob to show where you get your property questions answered.
0:12.6	We are so lucky to have such educated and curious listeners sending us wonderful questions
0:17.8	every single week and today is no exception.
0:20.6	We've got two great questions coming up and if you've got a great question of your own
0:24.9	it's so easy to send it in. Just give us a call on 0138083035 or go to propertyhelp.net slash
0:31.9	ask. Either of those methods will connect you with our voicemail, you can record your question
0:36.6	and we will answer it. Let's get on with doing just that. Today's first question is from Luke.
0:41.8	I'm Rob, it's Luke from London. Thanks, as always, for your amazing content.
0:46.2	I'm a regular listener and also a phoneiner if that's even a word. You guys have been really
0:51.7	helpful in the past and helped me out with answering some questions and I'm hoping you can do
0:54.8	the same for me. So my question today is regarding the 18-year cycle. Now I did get in touch at the
1:01.1	start of the year and you gave a great explanation at the time. However, fast over a few months the
1:06.1	market's going crazy, interest rates are just rocketing. Do you feel we're entering the winners
1:11.0	curse or the back end of the cycle a bit earlier on this time due to the aftermath of COVID and the
1:17.4	war in Ukraine? Now, I've reason I say that is I bid for a property that was online for office
1:24.0	over 135k and I went in at one three one five hundred. I felt it was a fair offer. However,
1:29.1	I was informed by the agent today. It's sold at over asking price. So I'm not sure what that figure
1:34.2	is, but it's sold at over 135k. Buried in mind from information I got from zoop, but the same property
1:40.6	was purchased by the current vendor last year for 120k and is now sold for over 135k.
1:48.2	Which is nearly an extra 15,000 to what it was last year, which based on the growth you guys
1:54.4	spoke about is not crazy. Is that unheard of at this stage of the market or is that something normal
	...

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