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