ASK322: Should I just give up and overpay? PLUS: Release equity or not?

The guys are back for yet another round of listener questions!  And Amy from Oxford is kicking us off this week.  Amy and her fiancé are looking to buy their first property, but the properties they’ve had their eye on have had SO much interest they’re selling for £30,000 above asking!  Has overpaying in this market become the norm? Or are they right to be a little cautious...  Next up, we’ve got a couple of questions from Paul.  Paul bought his first Buy-to-Let property last year, is currently renovating his second and has had an offer accepted on his third.  Thanks to the current market, his first property has increased in value by around £30,000-£40,000. He wants to hear if Rob & Rob think he should pull the equity and use it for another deposit?  His next question is all about mortgages. He’s taken out interest-only mortgages on all his properties and has a plan for how he’ll pay these off one day.  He’s hoping to use the 18-year property cycle to his advantage, and as his properties go up in value, he plans to sell one and use this to pay off the mortgages.  Is this a good strategy?  Tune in to find out what Rob & Rob have got to say.  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.