ASK451: Can I reclaim these costs? PLUS: Are we biting off too much?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 22 October 2024

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Happy Tuesday! It’s time for your latest episode of Ask Rob & Rob!   (0:45) After having his offer accepted on a property, Craig discovered potential asbestos in the Artex. When he raised this, the seller claimed they no longer wanted to sell and planned to move in, but a few weeks later, the property was re-listed for sale. After losing money on searches and other costs, Craig asks Rob & Rob if he can reclaim these expenses and how to avoid this happening again. (4:07) Simon’s eager to kickstart his property journey and is considering jumping straight into an HMO conversion. He’s found that most lenders require experience as a landlord or HMO landlord for financing and wonders how much of a difference that experience makes in terms of mortgage rates and fees. Should he start with a small buy-to-let to gain experience and potentially save money, or go straight for the HMO with more expensive financing options? 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	Oh yes it is, it's Ask Rob and Rob. It's Tuesday. We are here to answer to property questions.
0:12.0	If your name is Craig or Simon and you've been on the
0:14.7	edge of your seat every Tuesday to see if your question is about to come up, it might be
0:18.2	your lucky day. We'll have to wait and see. But whatever your name is, you can
0:21.3	send in a question of your own by doing this.
0:23.7	And this is going to Property Hub.net.ask. Go there and submit your question.
0:30.0	You can do it via audio, a telephone, or you can write your questioning and you may see it appear in the Sunday times.
0:38.0	Whatever you prefer, we do not mind, but for this show obviously we need audio unfortunately that's what Craig has done.
0:44.9	I have Rob and Rob yeah thanks for the content I love the show so I've been listening for quite a few
0:50.7	years now really yeah love all the content. Thanks very much. I wanted to ask a question.
0:56.1	I've been sort of like investing in property for a little while now.
0:59.8	I've done lots of training and things like that so I'm quite well educated and everything but yeah I've
1:05.7	came up to a situation recently I put an offering on a property off was accepted actually all that stuff and they had got the searches done. I paid quite a lot of money for
1:16.2	the searches, paid for the mortgage and everything like that, and the guy accepted the offer,
1:21.8	everything was going through.
1:23.4	The mortgage company came back and said there may be suspected asbestos in the Artex.
1:29.7	So I went back to a guy. The guy's decided that he's no longer selling the property, he's going to move into it.
1:36.0	Subsequently, I thought that sounds a bit strange.
1:39.0	We've been going through for a couple of months now and everything's about to complete
1:44.2	except for this last bit. Now actually waited a few weeks and nothing was
1:49.7	happening. He said that he was no longer selling moving in. I lived around the corner from the property so I kept an eye on it.
	...

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