Skip to main content

[landlord UK] sell or continue to rent?

I need some advice please. I brought my property feb 2021 for £104,000 on a five year fixed term contract (£399.52 pcm) with a £10,400 deposit and paid roughly £10,000 on renovations. Im currently renting the property to a tenant via an estate agent at £650 pcm and get charged 8% management fees. The tenant has enquired whether or not I’d be willing to sell. I have had a couple of valuations estimated between £123k-£128k. Currently my mortgage is set as repayment. Im wondering what people would do in my situation 1) continue to rent 2) sell 3) rent but change the mortgage to interest only. As everyone knows there’s tax, estate agent fees and cost of repairs that play a part in this scenario. However, if i were to sell id be looking to buy into my partner’s property with extensive prenup agreements in place to protect my equity if things did go south. I appreciate Any and all opinions as im quite new to this.

Thank you

submitted by /u/Comfortable-Tap-4951
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1724k8t/landlord_uk_sell_or_continue_to_rent/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Looking for Prospective Opportunities to Utilize Floor Plan Redraw Skills

"Hey HomeOwners & Investors , I have a team of 10 professionals who are trained in redrawing/redesign floor plans in both 2D and 3D interior& exterior using floorplanner.com/3ds Max and TruView point cloud. We're looking for prospective opportunities to utilize our skills. Are there any companies or individuals in need of accurate floor plans and measurement reports ? Any suggestions for where to start looking? Thanks in advance for your help!" submitted by /u/mangojuicelife [link] [comments] source https://www.reddit.com/r/RealEstate/comments/119uoh0/looking_for_prospective_opportunities_to_utilize/

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/