Should I pull out of this deal? PLUS: Is it a good idea to wait for the Brexit dip

We’re back with two property investment related questions from our wonderful Hubbers this week, after deep-delving into the one (but very detailed) question relating to off-plan investments last week. If you missed it, you can catch it here.

On this week’s Ask Rob & Rob, James tells us how he inherited a property which was then sold to buy his residential property. He had a sum left over to invest in a 3-bedroom, end-of-terrace property in Northampton where he’s been stuck in the conveyancing process for 6 months!

It’s not James’ fault – there are issues further up the chain. However, whilst he’s been sitting tight for 6 months, he’s also been soaking up all the information on our Property Podcasts (wise move, James!) and has been thinking about whether this property investment is the right one for him after all.

Should he continue with his property purchase or should he pull out, cut his losses, have a rethink and put his new-found buy to let knowledge into practice with a different property in a different location? Perhaps somewhere where capital growth is likely to be stronger and the rental returns higher?

As listeners will know, the Robs aren’t huge fans of the conveyancing process, so James isn’t alone with his frustrations. The buying process is painful and this does give buyers plenty of time to think and reflect on their buy to let property investment purchases. But would the Robs continue with the property or would they pull out of the process if they thought something better was around the corner?

The second question comes from Rob (yes, another Rob!). He wants to know if he should invest in buy to let property now or hold off because of Brexit. He believes that a “no deal” will likely result in a huge market dip – but is this really the case?

If you listen back to the Brexit episode, you’ll hear plenty of thoughts on Brexit and how the Robs think it will affect the property market, but in this episode they expand a tad further.

The Brexit negativity is here and now – all markets are assuming the worst.

The media is doing a damn good job at making investors question their investment decisions, but should you let them steer you? Is now the time to retreat? Or is it time to stand firm and be brave with your buy to let investment plans?

Hit the play button to listen.

Do you have a buy to let or property related question for Rob & Rob? You could feature on the next episode by giving us a call on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply).

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

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