ASK450: Should I over-pay my mortgage? PLUS: Did the government just find £16 billion?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 15 October 2024

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s time for Ask Rob & Rob! We’ve two new property questions to tackle - let’s dive in! (0:50) After completing his first property through a limited company, Louie’s looking at ways to boost profitability and wonders if making overpayments on his interest-only mortgage could be a smart move. He thinks by reducing his monthly interest it might increase his profits and asks Rob & Rob for their thoughts on this strategy. (3:25) Prithvi’s curious about a recent comment from Rachel Reeves regarding a disconnect between government debt and the Bank of England. He believes this could create £16 billion of new spending, and wonders if Rob & Rob think this could impact the 18-year property cycle and a medium-term boost to the property market. 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. And I'm Rob. And this is Ask Rob and Rob.
0:05.0	This is Ask Rob and Rob. The show where you give us your questions each and every week and we deliver you answers.
0:13.7	Episode 450 of this show, this was just meant to be a side project for a while from the main
0:19.2	podcast and here we are 450 episodes later. But let's make sure this isn't the last one. 450 episodes later.
0:22.8	But let's make sure this isn't the last one.
0:24.3	450 is great, but 500 sounds so much better.
0:27.1	So we need your questions in.
0:28.4	Rob, what should people do?
0:29.5	Yeah, we do need those questions.
0:31.2	So all you need to do is go to Property Hub.
0:33.2	net slash ask. When you get there you will see that you can leave us a
0:37.5	voicemail, you can give our answer phone a ring if you want to be old school
0:40.7	or you can submit a written question for our column in the
0:44.0	Sunday Times but if you want to appear on the show then an audio message is
0:47.4	what we need and that is what Louis has given us.
0:49.7	Hi Robin Rob this is Louis from Birmingham I'm a long time listener and I actually just finished reading Rob's latest book the price of money last week. So thank you both for all your hard work so far. So my question is around that I've just
1:06.8	recently completed on my first property in a limited company and I'm obviously
1:12.1	trying to become as profitable as possible.
1:16.2	One thing that I've thought about but I haven't really seen anywhere talk about is should I be making overpayments on my interest only
1:25.8	mortgage this would obviously reduce the amount of interest payable each month
1:31.0	therefore increasing my profitability, even marginally.
1:34.4	I understand this wouldn't be tax deductible, but it would mean that I'm storing my money
	...

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