Rob & Rob are back again this week to answer more of your property related questions. So let’s get started!
First up we’ve got Catherine from Bristol who is well underway with her property investment journey having built up a portfolio of five buy-to-let properties.
She’s looking to build this portfolio to eight properties in order to achieve the income figure that she has in mind. The end goal is to be able to make big changes to the way she and her family live their lives.
Currently, one of her properties in London is on an incredible mortgage rate of 1.54%! Definitely not the kind of rate you’d get now.
After speaking to two mortgage advisors, both have said that she could release around £125,000 in equity from this property, so she has the deposit she needs to grow her portfolio. However, this means giving up the amazing mortgage rate she’s currently on.
If she were to do this, straight away she’d be paying around £9,000 more a year in mortgage fees on that one property. Wowza!
So should she wait it out for a few years until she can release equity from other properties and keep the great mortgage rate, or should she act now?
Our second caller is Ben from Aberdeen, who wants to know where Rob & Rob would recommend to invest in, in Scotland. Something they get asked all the time.
He’s had one buy-to-let property for the past six years and has recently bought a further two in the small town he grew up in.
Ideally he wants to move his location focus away from his hometown, but still remain in Scotland. He already knows that his main goal is cash flow and long term he’d like to look at Edinburgh, but feels that’s currently too competitive for him.
It’s finally the answer to a question a lot of you have been waiting for. Where would Rob & Rob invest in Scotland?
Tune in to find out!
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.
