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Should i Sell? Advice please
thepolylass
Posts: 2 Newbie
Myself and a colleague own a flat, he would like to move in with his girlfriend. I suggested they live in the flat and i will live with my boyfriend. But they are not keen and convinced that selling and then renting a place is what they want to do. I am concerned we will not make enough money to cover what we put in and all the expenses including £2000 to get out of our mortgage. Also, if we come off the property ladder, when we want to get back on, will we be in a worse position than if we still had our property?
Any advice would be much appreciated
Thanks
Any advice would be much appreciated
Thanks
0
Comments
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The property "ladder" days are over for the foreseeable future and we are now in property-snake territory. The only way to get back into a mortgaged property after selling and taking the hit is to save, save, save.
What's wrong with this colleague moving out and renting with his g/f and you staying put? If you both own the property together you are both liable for the mortgage payments. Could your b/f move in with you?0 -
The problem with my boyfriend moving in is he is a manager on a farm. So ridiculously early starts and he needs to be close to the farm. My place is 40 mins away.
How does it work if we own 1/2 a property and then want to buy? Will we still need a big deposit as we would if we werent on the property ladder?
Thanks0
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