Virtual Chrissy Wissy
Joined: 01 Oct 2010
Posts: 2
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| Posted: Wed Oct 13, 2010 9:22 pm Post subject: To sell or rent? |
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| We have just renegotiated our mortgage and have decided to go on BMR (for now) @ 2.5%. As we are long standing customers of our lenders we can go back on to a fix at any point. We have 48K debt remaining. We are now in a quandry as we have approx 240K in savings to put down on a new place and are not sure whether to sell our current house (in an unfavourable market but obviously good for buyers) or rent it (with an extra landlord rate of 1.5% on top for that part of the debt deemed as buy to let). There is also the aggro aspect to this of having a nightmare tenant at some point. The portable product means we can put the new property on it but at a rate to be decided at the time of moving. Any advice would be most appreciated! I would imagine that in our areas of choice we would be lucky to get a decent 3 bedroom property for £300K. |
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