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Episode 49: Ask Dan & James
Fix or Twist?
This week Dan and James answer two more listener questions.
Our first question is from Jonty in Tresillian who asks, “I have a Buy to let in Bodmin with a tenant currently in situ. I am worried what to do as my mortgage is up for renewal but there are no products that fit on the stress test. This means I go onto variable rate which is £748 Per month and my rent received is £700. Before my mortgage was £299 on a 5 year fixed. Should I sell or hold?”
Next up we have Katie in Bodmin who ask , “A friend has asked for my help. He has recently split with his partner and she has had to come off of their mortgage. My friend fails all affordability stress tests on his own and has asked if I can jump on his mortgage to help ensure he doesn't lose his home. I am looking to invest in my first buy to let soon and was wondering if I did this for him, would it effect my chances of getting further lending?”
Tune in to find out what Dan & James had to say.
Do you have a buy-to-let or property investment related question for Dan & James? You could feature on the next episode by messaging via the Cornwall Property Podcast Facebook and Instagram pages @cornwallpropertypodcast
You can also get in touch with us via email hello@cornwallpropertypodcast.com
The next question on Ask Dan & James could be yours.
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