ASK295: What is the right level of leverage? PLUS: Do I need a new mortgage?

This week on Ask Rob & Rob we’re talking all things money and mortgages.  Our first question is about leverage and comes from Tyrone.  He wants to know if there’s a right amount of leverage to go for.   Tyrone is planning on re-mortgaging his property, but he doesn’t know what level he should go to. So, he’s asking for advice on how to calculate it and how he can balance the risk.  Our second question comes from James who wants to know about residential mortgages.   He’s got a three-bedroom property with a residential mortgage that runs out shortly. James has decided that he wants to convert it into a four-bedroom HMO property.   So now James is wanting to know if he can renew his residential mortgage or if he has to get a buy-to-let mortgage instead.   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.   Have you joined us over on the Property Hub Forum yet? Our online community is friendly, informative, and the members are waiting to welcome you with open arms. So get yourself over and introduce yourself.  See omnystudio.com/listener for privacy information.