In this episode, Simon talks about investment mortgages - the six most common mistakes people make, and how you can avoid them by thinking very differently about mortgages and how they work. KEY TAKEAWAYS People ask their bank about investment mortgages, but unfortunately, they're not the right people to ask, and so bad advice can often be given. This can lead to a string of assumptions that simply aren't true. Find a truly independent mortgage broker who has unlimited access to the entire market....
In this episode, Simon talks about investment mortgages - the six most common mistakes people make, and how you can avoid them by thinking very differently about mortgages and how they work.
KEY TAKEAWAYS
- People ask their bank about investment mortgages, but unfortunately, they're not the right people to ask, and so bad advice can often be given. This can lead to a string of assumptions that simply aren't true.
- Find a truly independent mortgage broker who has unlimited access to the entire market. This will allow you to get a far better idea of what investment mortgages are, and how they can help you.
- As we grow older, there will be far fewer mainstream lenders willing to work with us, as all their products centre around the purchaser being the tenant. With investment mortgages, you are not the tenant, and so far, more options are available.
- When taking out an investment mortgage, make sure it's optimised for cashflow. Interest-only mortgages mean your cashflow is at its maximum and give you the benefit of capital gain.
BEST MOMENTS
'This isn't financial advice. It's financial education'
'All lenders are different - they all have different criteria'
'Owning your own home is very different to owing an investment property'
'We only buy something that gives us cashflow'
VALUABLE RESOURCES
Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi
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ABOUT THE HOST
Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.
Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.
Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.
Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.
Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.
CONTACT METHOD
Contact and follow Simon here:
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