What are my options if the market falls? PLUS: Will high-LTV mortgages come back?

Welcome back to another episode of Ask Rob & Rob. This week the guys are answering two questions that we’re pretty sure are on everyone’s minds right now.

First up this week we’ve got Joe.

Joe has bought his properties the opposite way round to most people. He bought a buy-to-let property first and is now onto purchasing his own residential property.

Joe thinks he’s got himself a good deal as it’s in need of some renovation. But, he’s trying to weigh up his options because he’s considering relocating when the world returns back to some normality.

He knows the obvious thing would be to sell the property, but he wants to know what other options would be open to him. Especially if the market falls and he ends up in negative equity on his property.

What should he do?

Our second caller this week is Sassi.

Both Sassi and her partner are both working professionals in the construction sector. Before lockdown they’d agreed to purchase a property however they had issues with mortgages due to the condition of the house.

They managed to secure a mortgage product, but when it expired six months later due to the pandemic, the lenders revalued it and wouldn’t grant them a mortgage – they said the property would be better suited to a HMO.

As a result they’re now struggling to afford another property with the loan-to-value being so high compared to what it was at the beginning of the year.

So what Sassi wants to know is, will the stamp duty holiday restore the banks’ confidence enough to bring back higher loan-to-value mortgage products that first time buyers can benefit from?

What do Rob & Rob think? Will higher loan-to-value mortgage products make a comeback, or are they now a thing of the past?

Tune in to find out.


Do you have a buy to let or property investment 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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