Rob discusses the recent extension of the mortgage guarantee scheme by the government, which allows individuals with a small deposit to apply for a government-backed 95% mortgage guarantee, enabling them to get on the housing ladder.
While this may seem like a great opportunity, Rob highlights the potential risks involved, particularly if the value of the property decreases in the future.
KEY TAKEAWAYS
BEST MOMENTS
"The government have extended the mortgage guarantee scheme for 18 months and that's very interesting because of the potential economic turmoil that may happen in the next couple of years."
"And that is where you really have to consider where you're buying, what your plan is, what you're doing moving forward."
"The amount of people that have no idea of the economics and what could potentially happen and what is likely to happen is incredibly scary."
"Hence the reason for this episode, just to bring that alertness and to consistently add value and to give you things to think about."
VALUABLE RESOURCES
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ABOUT THE HOST
Rob Smallbone is the author of the Amazon best-seller Buy-To-Let: How To Get Started as well as 101 Top Property Tips and Property FAQ’s.
BOOKS
Property FAQs = https://amzn.to/3MWfcL4
Buy To Let: How To Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
WHERE TO FIND US