Letting for the first time

R

reb1

Guest
Hi,

I'm not sure if this question even belongs in this area so apologies if I am in the wrong place
My self and my patrner bought our house a year ago and are now looking tp mive back closer to home as prices are now affordable...but if we were to sell our current house we would be stuck with serious negetive equity to make up
So we have come to the decision to rent our current property and buy our new house

my querstion is if any one else has done this recently and if they have any advise...as this is all completey new

Thanks
 
If the property you own currently has serious negative equity I would feel this will more than likely effect you being able to get a mortgage to buy another house. Have you got a lot of savings to put towards the new house? I think you prob need to give a bit more information. Have you approached any banks about this yet?
 
hi deedee

Yes we have been approved for the new mortgage with our current provider, the condition was that we clear all our personal loans, we done this through help from parents and they have also given the deposit for the new property

my main worry is how best to go about getting tennants for the house and if there are any generic problems that go along with letting?
 
you may have a stamp duty liability if you rent out within 2 years of purchase, you will need to check that out before you do anything else.
 
You must log in or register to reply here.
Back
Top