7 minutes | Oct 26th 2020

ASK259: My house isn’t selling – should I cut the price? PLUS: Will cladding issues affect my remortgage?

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Welcome back to Ask Rob & Rob! It’s Tuesday, and that means we’ve got another two property questions that need answering.

First up this week we’ve got Pauline from Gothenburg in Sweden! 

She has a property in the UK which she purchased 5-6 years ago thinking it would be her forever family home. 

The property is in a rural part of Scotland where demand isn’t that high in terms of renting or purchasing. 

It’s been on the market since the beginning of lockdown and it’s just not selling. The agent has now suggested that Pauline turn it into a rental. 

However, she already has four other rental properties in other parts of Scotland that have the fundamentals, whereas the location of this property, doesn't really have the rental fundamentals needed to make it a success. 

So now she’s wondering if she should drastically drop her asking price and take a loss, or if she should put it on the rental market? 

Next we’ve got Jeremy who’s got a concern about his potential remortgage offers. 

He’s got a couple of apartments in developments that have cladding issues, following on from the Grenfell disaster. 

Now Jeremy is wondering if the cladding is going to cause issues for him, should he want to remortgage? 

More so if he’s looking to pull money out of the properties and refinance. 

So, will cladding issues affect the ability to remortgage?

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). 

 

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

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

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