ASK449: Do I have enough cash to invest? PLUS: Are these brokers good enough?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 8 October 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rob & Rob are back with two more listener questions!  (0:44) With a £15K deposit and an average London salary, Vernon’s torn between investing now in a cheaper property in the North or keeping on saving for a higher-end buy-to-let. So, he turns to Rob & Rob for their expert advice and guidance. (4:17) Dan’s at the start of his property investment journey. After speaking with various mortgage brokers, he asks how important it is for them to specialise in buy-to-let mortgages and be local to the area – what will the guys say? Enjoy the show? Leave us a review on Apple Podcasts - it really helps others find us! Sign up for our free weekly newsletter, Property Pulse Send us your question by calling us on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply) or click here to leave a recording via your computer instead. Find out more about Property Hub Invest

Transcript

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0:00.0	Hi, I'm Rob.
0:03.4	And I'm Rob.
0:04.1	And this is Ask Rob and Rob.
0:07.0	Yes, it is Ask Rob and Rob.
0:08.3	You are correct.
0:09.4	It is the show where we take two of your questions and we provide two answers.
0:13.4	And it all starts Rob with our dear listener taking one simple action.
0:17.2	Yeah, it is simple. You just go to Property Hub.net.
0:20.7	forward slash ask. There you'll be given more than one option of it you can also submit your
0:33.6	question to the Sunday times there in written form as well so whatever you prefer
0:38.0	just go to property hub dot net forward slash ask that is what Vernon's done so let's listen to his question.
0:44.4	Hello my name is Bonin. I was just wondering if it's worth me investing in a property in
0:51.1	the north of of UK.
0:54.0	Let's say I have a deposit worth about 15 grand and I make about around average salary in London.
1:06.0	Is it worth me saving up for a few more years to get a property or is it worth thinking about investing in a property in the North.
1:14.0	Okay, thank you very much and bye.
1:16.2	Vernon, thank you for your question.
1:19.2	Vernon, it probably is possible to make an investment in the north for 15k.
1:26.3	I say probably because it would be really tight because you normally would buy to let
1:30.9	need to put 25% deposit down. So that would mean it would be a 60k property.
1:36.4	But then you of course have other costs as well. You have your solicitors costs, your stamp duty and so on.
1:41.6	So realistically you may see a decent proportion of that 15K
	...

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