Should I re-finance or sell? PLUS: When will London pick up?

We’re back again with two great questions on this week’s Ask Rob and Rob podcast.

Andrew’s question is first up and he asks Rob & Rob whether he should re-finance or sell his two properties. The details are below:

  • Two properties, one worth £300,000 and the other worth £200,000
  • Outstanding mortgage: £100,000 on each with £300,000 total equity available
  • One rents for £1,000 pcm and the second for £750 pcm
  • 15 year repayment mortgage on both

Andrew explains how he just breaks even each month and that his properties aren’t achieving a good ROI. However he has made £100,000 in capital growth over the last 5 years, so it’s not all bad!

Should Andrew re-finance both to interest only mortgages and release about £100,000? Or should he sell one or both and have up to £300,000 to invest on more sensible investments with a higher ROI?

The next question is from Scott, who wants to know whether he should be investing in Northern Powerhouse cities, or whether London is still a good place to invest. Rob & Rob discuss the best time to invest in London based on the 18 year property cycle.

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