TPP377: 5 deals we've already turned down this year
The Property Podcast
Rob Bence & Rob Dix
4.8 • 2K Ratings
🗓️ 4 June 2020
⏱️ 31 minutes
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| 0:00.0 | Deal or no deal? Well actually five no deals. This week we're going to take you through five deals that we've turned down this year so you can learn all the lessons and apply them yourself. |
| 0:17.0 | Welcome to the Property Podcast where every Thursday property investors come to be informed and inspired. |
| 0:26.0 | As part of the business we run we look at a lot of deals like a lot. |
| 0:30.0 | And this week we're going to dish the dirt on just five that we've turned down. We're going to take you into the specifics of deals that at first looked completely fine. |
| 0:37.0 | But on closer inspection, we just couldn't do. |
| 0:39.5 | So that's coming up after the news and stick around to the end because in Hub Extra |
| 0:43.4 | we've got a resource that's going to make those conference calls from home a |
| 0:46.2 | little bit more bearable. |
| 0:47.8 | So a super positive news story this week after so much doom and gloom in the |
| 0:51.8 | property market it's nice to bring you a new |
| 0:53.4 | story like this which is a sign of the things are moving in the right direction the |
| 0:57.1 | headline reads virgin money relaunches buy select deals of up to 80% loan to value. |
| 1:04.2 | The reason why this one is particularly significant, Rob, |
| 1:06.8 | is loan to value levels for Bightlet products. |
| 1:09.4 | Normally, cap out at 75%. |
| 1:11.9 | There are some that go higher, but the main market, most of the market is at 75%. |
| 1:17.0 | So to see Virgin Money not only being confident enough to bring their 75% products back, but |
| 1:21.7 | also 80% loan to value. It's just really good. Yeah you can |
| 1:27.0 | normally take 75 as being your kind of average and if lenders are feeling |
| 1:31.5 | cautious it might go lower and when they're feeling |
| 1:34.0 | optimistic it goes higher and we've seen it go over-optimistic and get up to 100% |
| 1:38.3 | and beyond in the run up to 2008 and we saw how that ended. But anything above 75% generally means that |
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