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The Property Podcast
ASK455: Should I remortgage my home to buy more? PLUS: Who can I report this landlord to?
Nov 19, 2024
A listener contemplates remortgaging her family home to dive into property investment, exploring the perks of interest-only mortgages. The hosts weigh the pros and cons while emphasizing financial assessments and professional advice. Another listener raises concerns about a neglectful landlord impacting a neighbor's living conditions, prompting a discussion on reporting options and evolving landlord regulations. Tune in for insights that could shape your journey into property ownership!
06:34
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Quick takeaways
- Remortgaging a home can be beneficial for property investment, but it's crucial to assess financial implications and potential returns carefully.
- Reporting negligent landlords to local housing authorities can help improve living conditions for vulnerable tenants, especially with new regulations pending implementation.
Deep dives
Borrowing Against Home Equity for Investment
Remortgaging a home to invest in property can be a viable option, but it heavily depends on individual circumstances. Evaluating the financial implications, such as the potential returns compared to the cost of borrowing is critical. If a homeowner can secure a 5% interest-only mortgage on a 50k withdrawal, it becomes essential to ensure that the investment yields an ROI greater than this interest rate to avoid additional financial strain. This approach should not be taken lightly, and working with experienced advisors can provide essential guidance on navigating this complex decision.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode