The Property Podcast
ASK465: Is this a good way to start out in property? PLUS: Do I need to get my tenants out fast?
Feb 25, 2025
Listeners get valuable insights on entering the property market, especially in more affordable locations. Concerns about managing both rent and mortgage payments are discussed, along with the importance of detailed planning and mortgage broker consultations. The episode also delves into the complexities of tenant eviction amidst changing legislation, offering guidance on navigating this challenging landscape. Effective communication strategies for landlords are highlighted to ease the transition.
11:24
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Quick takeaways
- Consulting a mortgage broker can help navigate challenges in securing financing for property investments in more affordable areas like Manchester or Derby.
- The new Renters Reform Bill will require careful communication with tenants and a longer notice period, impacting possession of rental properties.
Deep dives
Navigating the Property Market
A listener expresses challenges in starting their property investment journey due to high house prices and rents in their current location. They have saved £15,000 for a deposit but are concerned about finding affordable areas with strong investment potential. The suggestion is made to consult a mortgage broker who can help present their case for obtaining a mortgage in a different area, like Manchester or Derby, where property prices are lower. Additionally, exploring regions that are a short commute from the Southeast, such as Rugby, could provide viable options that align with their investment goals.
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