ASK453: What if I can't pay the tax when I sell? PLUS: How do I get my dream job in property?

The Property Podcast

Rob Bence & Rob Dix

Investing, Education, Business News, News, Business

4.8 • 2K Ratings

🗓️ 5 November 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Rob & Rob are back to offer their advice to two more listeners!  (0:42) Since buying his first property in Derby in 2021, Carl’s now completing on a fourth in Doncaster, with the portfolio’s value increasing by over £80,000 in just three years! With two mortgages due for renewal in 18 months, he's considering remortgaging, but is concerned about the potential impact of capital gains tax if he decides to sell later, and it exceeds the new mortgage. He turns to Rob & Rob for their advice - what will they suggest? (4:35) Luke’s eager to build a career in the property industry, where his true passion lies. With a background in recruitment and customer service, he asks the guys for their tips on breaking into the property world professionally. 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.
0:03.0	And I'm Rob.
0:04.0	And this is Ask Rob and Rob.
0:05.0	Welcome to Ask Rob and Rob.
0:08.0	It's the show where we answer your property questions.
0:11.0	And the show, of course, starts with you.
0:13.0	So we like to make it really simple for you to send your questions our way.
0:16.0	We do head over to propertyhub.net forward slash ask.
0:20.0	That's property hub.net forward slash ask. That's property hub.com.net forward slash ask.
0:23.7	There, you can leave us a message. You can call us and leave a voicemail if you prefer.
0:29.1	Or if you want to write in with your question, we have our wonderful column in the Sunday Times,
0:33.8	each and every Sunday in the home section. So if you want to get your question in that way,
0:37.9	you can as well. Right. Let's get things kicked off with our first question in from Carl.
0:43.1	Hey, Rob and Rob. Fantastic podcast. I've been listening to you now for, gosh, it's got to be four
0:47.9	and a half years. We bought our first property back in 2021. Yeah, my name's Carl Andrews and from the Derby area that you guys know.
0:56.7	Well, as I say, we bought our first property back in 2021. We're now about to buy our fourth
1:01.7	property in another well-known area that you guys go and play in Doncaster. And our portfolio to
1:08.2	date has increased in value by over £80,000.
1:12.5	Yes, £80,000 in three years.
1:15.3	My five-year term, two of my mortgages are up in sort of 18 months time,
1:20.1	thinking about maybe remortgaging.
1:22.2	But what happens if I remortgage and then have to sell,
	...

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