The Property Podcast

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', Russell... ...asks Rob & Rob...Can I trust my mortgage broker? PLUS: How do I find an absent owner? ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. NEED MORE ANSWERS? The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors. Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way. Just don't hang around - there are only four Summits each year, and just 8 places available at each! Interested? Click here to find out more.See omnystudio.com/listener for privacy information.

It's Meetup night tonight, and we're hoping lots of you are headed to our free and friendly gatherings all across the UK and beyond. If you haven't yet booked your ticket you can find your nearest location here. Rob B is heading to the coast, and will be in Bournemouth saying hi to some local Hubbers there. Now, on to this week's episode which is all about a shake up in the mortgage market that may have just slipped under the radar. Now, some of you won't be affected by this at all but some of you really will so you wont want to miss the details. So, the Bank Of England has an arm called the Prudential Regulation Authority (PRA) that regulates lenders. They’ve brought in new rules that lenders must follow, to avoid the risky lending that contributed to the last crash. This is happening in two parts: Tougher rental cover tests, since January 2017 “Portfolio landlord” underwriting, from September 2017 So what are the rules on rental cover: The rent must cover at least 125% of the mortgage payment when the interest rate is at least 5.5% – but many lenders are using 145% Rule of thumb - each £100 of monthly rent will support £15,000 of borrowing So £500 rent = £75,000 borrowing. If it costs £100k, you’re fine. More than that, you’ll need a larger deposit = lower ROI However this doesn't apply to: - Mortgages for limited companies - Bridging lending - Commercial or semi-commercial property - Holiday lets - Any loans with a fixed term of five years or longer Effect: You won’t get as much leverage for lower-yielding properties   What about the forthcoming portfolio Landlord underwriting? So the definition of “portfolio landlord” is someone with 4 or more mortgaged properties Any properties in a Ltd Co also count towards the total Every lender can decide what they want to see, but PRA suggests they look at: - Property portfolio spreadsheet - Cashflow forecast spreadsheet - Income and expenditure spreadsheet - Business plan - Three months' bank statements - SA302s and tax overviews from HMRC - Tenancy agreements for all properties Basically you need to make a case for the new loan in the context of your entire “rental business”, not just the property you’re buying Effect: Slower applications because more for lender to look at More declines, because there’s more they could decide they don’t like (Doesn’t apply to Ltd Companies, but they have to do most of this anyway) So what does all of this mean? The rental cover tests means bigger deposits in London and a few other areas, but shouldn’t affect elsewhere Portfolio Landlord criteria will make for painful applications, but it’s hard to be annoyed about it because if you were going for a business loan they’d want to see all this stuff - and it is a business BUT it’s yet another measure that will deter amateur landlords...which could play into the wobble and mean opportunity for investors who are serious News story of the week: Research reveals extent of price drops by property agents in London 35% of London properties have had a price reduction since they were first marketed. Nationally, 77% of properties are selling below asking price. Wobble time? Maybe so. It certainly looks like a buyers market right now.  Resource of the week http://podsync.net/ is a simple and free service that lets you listen to any YouTube or Vimeo channels, playlists or user videos in podcast format. Join the conversation over in the forum Will this be something that affects you? Join the conversation in the forum. If you enjoyed The Property Podcast, please leave a review on iTunes Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes.See omnystudio.com/listener for privacy information.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', Kush and Fez... ...ask Rob & Rob...How can I flip properties remotely? PLUS: The costs of 10-year fixes ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. NEED MORE ANSWERS? The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors. Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way. Just don't hang around - there are only four Summits each year, and just 8 places available at each! Interested? Click here to find out more.See omnystudio.com/listener for privacy information.

Next week will be a busy one - as well as our meetups which, as always, are happening on the first Thursday of the month (find your nearest location and register for your free place here) - our latest magazine will be hitting doorsteps at the end of the month.  If you haven't already done so, check out the information about the mag here... as well as a printed copy, for £5 a quarter you also get access to our webinars which are exclusively for magazine subscribers and immediate digital access to all back issues.   In this episode, we'll be giving you seven handy tips to put more money in your back pocket.  With ancestors in Yorkshire and Scotland, Rob D has definitely got a desire to save money in his genes, and Rob B is a self-confessed "value hunter"! We'll be discussing ways to limit your leasehold charges, how to get trade deals, making your education costs (such as books, magazines and Summits / courses) tax deductible, the importance of an annual portfolio audit which could make a huge difference to your costs even with a portfolio of one, and how to upgrade to First Class train travel for negligible additional cost. You could join LNPG for discounts on boilers, bathrooms, flooring etc - and don't forget you can claim 10% off the annual sign up fee if you quote "RD10". And take a look at moneysavingexpert.com's cheap energy club, which could save you a significant amount particularly for holiday lets or HMOs. None of our tips will take up too much of your time.  Simply knowing about them or signing up once in many cases, could result in significant savings.   News story of the week: 10 UK towns where property sales have risen and fallen the most Many studies look at prices, but this one looks at transaction volumes and shows nine out of ten of the biggest fallers to be in London and the SE with Brent falling a whopping 30%. And Retford in the East Midlands saw the biggest rise in 2016. Yet more evidence of money moving out of the capital to areas where there's more value.  Take a look at the story in full here. Resource of the week Back to our first money saving tip... and an easy way to ensure that a freeholder charges you no more than £40 for a consent to sub-let.  Here's a template letter for you to sign and send.   Join the conversation over in the forum What do you think of our money saving tips? Have you any more to add? Join the conversation in the forum.   If you enjoyed The Property Podcast, please leave a review on iTunes Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes.See omnystudio.com/listener for privacy information.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', Dave and Pete... ...ask Rob & Rob...How should I prepare for the mid-cycle wobble? PLUS: Will this cycle be longer or shorter than usual? ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. NEED MORE ANSWERS? The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors. Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way. Just don't hang around - there are only four Summits each year, and just 8 places available at each! Interested? Click here to find out more.See omnystudio.com/listener for privacy information.

In this episode, we're looking at how to build high-value networks.  We'll be suggesting ways to avoid the mistakes that we see all too frequently, helping you to build a network that will rocket your success. The problem is that the people you really want to connect with are busy, and already have their own network - so they’re not motivated to get to know you. What do you do? We talked about the basics in Episode 133, and now we delve deeper into seven areas, from making contact little and often, to sharing what you are learning (a great way to do this is to start a progress journal on the forum - check them out here), and using your network to grow your network. Everything we talk about also applies to life outside property... perhaps you are looking to network in a business context, or make contacts relating to interests outside of work?   Our new online course... Don't forget to check out our new, totally free course: Which Strategy Is Right For You?. If you're yet to discover all of our free training content then you're missing out - you can find it all here .   News story of the week: Property industry leaders announce 'game-changing' breakthrough in bid to reduce risks of commercial property lending boom and bust This grabbed our attention because, even though about commercial property, it's interesting that senior people in the industry are taking note of the 18-year property cycle. The article looks at a new way of measuring real estate values that may help smooth the market’s notorious cycles of boom and bust.  Take a look at the story in full here.   Resource of the week Rob B's new purchase is the Amazon Echo and he's having fun asking Alexa to play music, provide information, predict the weather and even tell jokes! Who would have realised he was such a Spice Girls fan too...   Join the conversation over in the forum Have you been able to develop a high-value network, and what have you learned along the way? Join the conversation on the forum.   If you enjoyed The Property Podcast, please leave a review on iTunes Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes.See omnystudio.com/listener for privacy information.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob', two listeners... ...ask Rob & Rob...Where in Manchester should I be looking to buy? PLUS: How can I release more equity from my home? ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. NEED MORE ANSWERS? The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors. Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way. Just don't hang around - there are only four Summits each year, and just 8 places available at each! Interested? Click here to find out more.See omnystudio.com/listener for privacy information.

This week we are excited to bring you a brad new, totally free course called 'Which Strategy Is Right For You?'. If you're yet to discover all of our free training content then you're missing out - you can find it all here (including the brand new course). In this week's episode we're talking about joint ventures for the first time in three years. They’re still a hot topic in property so we wanted to revisit and go into more detail. It’s the cover story in the next magazine...more on that later What is a joint venture? Often one person with skills/knowledge and one with money, but by no means always. Why do it? Generally you would embark on a JV to access skills/resources that you don’t have, e.g. You have the skills to do a flip, and JV with someone who has cash You’re a builder looking for a project, and partner with a local investor who has access to deals You JV with someone who owns land for a development project What types of JV are there? Profit share: At the end of the project, you split any profit in pre-agreed shares Fixed interest: The partner putting in the money gets an agreed rate of interest, whatever the success of the project Which is best depends on who’s putting in what, the sophistication of the investor, etc In the podcast The Robs take a look at why you might not want to joint venture, when could it be property investment disaster, and when is it just not worth the hassle. But if if it is for you then we also discuss how to find a good JV partner. News story of the week: More buy to let lending in UK going to limited companies Limited company is now the dominant model in investment with over half of BTL lending by value now going to limited companies. Take a look at the story in full here.  Join the conversation over in the forum Have you had a good or bad JV experience, and what have you learned along the way? Join the conversation on the forum. If you enjoyed The Property Podcast, please leave a review on iTunes Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes.See omnystudio.com/listener for privacy information.

It's time for another couple of questions in this week's edition of 'Ask Rob & Rob' Justine and Peter... ...ask Rob & Rob...What is the future of the serviced accommodation sector? PLUS: Should I be worried about right-to-buy for private tenants? ASK YOUR OWN QUESTION TO ROB & ROB! Don't be shy! All you need to do is leave a message with your name and whatever's on your mind. Just pick up the phone and call 013 808 00035 (normal UK call rates apply). Or if you prefer, click here to leave a recording via your computer instead. NEED MORE ANSWERS? The Property Hub Summit is the place to get all your questions personally answered by Rob & Rob, and build a network of other smart, motivated investors. Over the course of a full day at a swanky hotel we'll help you set your goals, form a plan to get you there, overcome your obstacles, and give you the support system you need to make sure nothing gets in your way. Just don't hang around - there are only four Summits each year, and just 8 places available at each! Interested? Click here to find out more.See omnystudio.com/listener for privacy information.

We recently spent a whole day talking property with a couple of hundred people who attended our Discovery Day. Time and time again we are reminded that people don't know much - or even anything - about our other businesses, RMP Property and Yellow Lettings, and it was great to meet and share information with many of you. Watch this space for future Discovery Day dates... This week we're looking at mindset, and how biases can lead you down a certain path which could result in decisions which are not optimal for your property investments.  We discuss how to be aware of these biases, backed up with plenty of examples, and provide very actionable ways to fix them. We'd encourage you to pair this episode with our previous podcast on mindset.  We know that mindset can make a huge difference to your success as an investor... but listening to a podcast once isn't enough! These are things you have to work on constantly. News story of the week: Google's huge London property empire is starting to take shape Google is moving into a number of new properties in the area behind King's Cross - you can have a look here at the buildings which contain a basketball court, swimming pool, 300m rooftop walkway and a floating staircase. Resource of the week A highly recommended read, which nicely ties in with this episode is Tony Robbins' latest book: Unshakeable: Your Guide to Financial Freedom Join the conversation over in the forum What do you make of Rob & Rob's musings on mindset? Head over to the forum to discuss in more detail here. If you enjoyed The Property Podcast, please leave a review on iTunes Reviews are really important in helping other people to find the show, so by way of thanks we read out every single review we receive on air. If you’d like to hear your name on the show, leave us a review on iTunes here. Not sure how to leave a review? This video shows you how to review and subscribe on iTunes.See omnystudio.com/listener for privacy information.