planning permission

Welcome to another Ask Rob & Rob - that time of the week where you send in your property investment questions and the Robs give you the answers.

First up we have Adam from London. He already has a 2-bedroom buy to let investment property in Cheltenham which is performing well.

He’s looking at purchasing a second buy to let property and wants to know if the current loophole on the restriction of mortgage interest relief for limited companies is likely to close any time soon.

Naturally Adam doesn’t want to go through the trouble of setting up a limited company if this property loophole is likely to get closed - so what do Rob & Rob think?

Should he save himself the hassle of registering a business and make his buy to let property purchase personally? And is it actually a loophole Adam is referring to? Rob D has some interesting thoughts on this.

Listen to the podcast to hear more or click here for information about Property Hub Tax and join the priority list.

Second up we have Danny from Portsmouth who wants to know if gaining planning permission will increase the value of his investment property.

Danny has recently purchased a corner plot and has a plan A and plan B. Should he put a dwelling on the end or change it to a 4-bedroom house, adding two bedrooms via an extension? He wants to know if there’s a tool to show you what you could increase values by if he was to sell his investment property with agreed planning permission.

Now, Rob B has some top notch advice here, utilising his wealth of property development knowledge. Make sure you jot some notes down for this one as it’s a great question and the answer isn’t quite as straightforward as you may think.

Enjoy this week’s Rob & Rob.

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Welcome to this week’s Ask Rob & Rob.

First up with a property question is Mark. He has a HMO in Southampton which is mortgage free and has been self managed for over 20 years.

Mark has now moved north but finds the travelling and cost of upkeep is just too much. He wants to sell the property and reinvest the funds somewhere closer to home, however he’s hit a few snags.

He’s failed at getting planning permission to alter the property in the hope it would add value, and he’s also considered selling the HMO to both investors and property developers which hasn’t been plain sailing.

The developers say the rental income wouldn’t make the money back if they were to rebuild. And unfortunately Mark doesn’t have enough capital to see through a void period whilst he refurbishes the property himself. Remortgaging isn’t an option either. So, what should he do?

The Robs have some advice for Mark which covers everything from pricing, refurbishing and also the possibility of an assisted sale. If you’re not aware of how an assisted sale works, tap the play button to find out.

Callum has also called on the Robs this week.

Callum is 21, from Nottingham and has been avidly saving for his first investment property. He’s been reading, watching and listening to every resource he can find and wants to know whether it would be better for him to learn the trades or go in to project management.

Again, from people who have been there, done it and bought the t-shirt, the Robs talk Callum through ways he can get the most value from learning and how they’d approach things if they were in his position.

Would the Robs grab a paintbrush or plastering trowel? Or would they leave it to the professionals?

There’s also a good few resources shared this week on how Callum can get started - so make sure you tune into this week’s Ask Rob & Rob.

Would you like to feature on the next Ask Rob & Rob? If you have a property related question, simply call 013 808 00035 and leave a message with your name and question (normal UK call rates apply).

Or if you prefer, click here to leave a recording via your computer instead.

The next question on Ask Rob & Rob could be yours.

Do you love property and are keen to connect with likeminded people? Head over and join the conversation over in the Property Hub forum. Our active Hubbers are talking property on a daily basis - from breaking news to sharing hints, tips and some very interesting progress journeys. Pop over and introduce yourself today.

See omnystudio.com/listener for privacy information.