The 6-Month-Mortgage Myth Busted, Plus What Makes A Good Mortgage Broker? – with Liam Johnston of Kingsway Mortgages
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
Liam Johnston is a mortgage broker with several years’ experience, and more than a few strategies to share, that have been picked up along the way on his highly successful property journey.
Liam joins Rob today to offer some fantastic practical advice to all investors, regardless of their experience levels, to share a wealth of guidance when it comes to choosing your mortgage broker, and also to bust a few myths, most namely the “6 Month Mortgage”. Is it real?
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KEY TAKEAWAYS
- Lots of lenders out there now are aligning themselves with digital. The market is changing, and certainly embracing new technology in order to reach their customers more effectively.
- The benefit of having a mortgage in a limited company’s name, is that you can offset a lot of the costs against the rental income.
- Rates are more than likely going to fall again soon, as mortgage companies compete for market share by making themselves more attractive.
- Residential mortgages are regulated, so they always are based on a person’s income. The exception is Buy-To-Let mortgages, which have no minimum requirements.
- Mortgage brokers are essentially agents, who gather as much knowledge as possible about the client, and then use it get them the best deal possible from an array of lenders.
- Bridge-To-Lets - The idea behind this is that the bridging finance is there to use until the property in in an inhabitable condition.
- A Light Refurb is typically classified as internal work to the house, generally involving the bathroom, kitchen, windows, doors etc. Heavy Refurb projects tend to be more structural.
BEST MOMENTS
‘It’s always best to speak first to your accountant’
’There are still always hurdles to get over’
‘It’s all about using our knowledge of the market’
‘You need to know where your end goal is'
VALUABLE RESOURCES
The Property Nomads Podcast – iTunes
The Property Nomads - Stitcher
Buy To Let: How To Get Started – By Rob Smallbone (Amazon)
Kingsway Mortgages - https://www.kingswaymortgages.co.uk
Liam Johnston LinkedIn - https://www.linkedin.com/in/liam-johnston-89338228/?originalSubdomain=uk
Liam Johnston - 0203 1373527
ABOUT THE HOST
Rob Smallbone, Rachael Taylor and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob, Rachael & Matt just want to make a huge difference to people around the world. They are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon.
Buckle up, sit tight and enjoy the ride that is life.
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