Neighbour has put hers up for sale as well!

puddy

once you're off your fixed rate in june, how much outstanding mortage will you have?

motherof6

Blimey that was a bit of a !!!!!! wasnt it! I wouldnt start spending large amounts of money on yours in trying to compete with hers, have you spoken to your estate agent to find out his point of view? Obviously her house appears to be a better buy than yours at the mo however speak to the agent about the price of yours again. I understand you dont want to come down to much, what sort of figure would it rent out for? If that will cover your mortgage and remember you would need to notify your mortgage company and they may well put you on a higher interest rate if they are happy for you to rent it out it may well be more prudent for you to rent it at this time than try to sell it.

redhead123

still quite a lot alas!

Prob about 90K or slightly less

put down a reasonable deposit. was hoping to get that back to pool with OH's resources when he sells his.

A few friends of mine said I should have rented it instead of selling. I guess i just thought it would end up a mess and I'd need to re-decorate

redhead123

Does the 'NO Chain' thing make any difference or not reallY?

<sebb>

redhead123 wrote: »

Does the 'NO Chain' thing make any difference or not reallY?

Didnt for me, but I'm a FTB and had no real urge to move quickly. Others may have a different view. I doubt it will have much impact.

puddy

when does he plan to sell his

i ask because you could wait, rent it out but then be left with the hassle of repairs, absconding tenants, bad tenants etc etc whilst waiting for prices to rise (thats a gamble)

on the other hand, you could drop considerably without leaving you out of pocket so to speak (as you have some equity) and move on with life

even if you dropped down to 110, you would walk away with 20k in your pocket, plus the saving of the monthly mortgage payments which you could stash away each month to add to the pot when your partner sells

not ideal i know. my own plans when awry when i 'lost' 70k on my flat last year, it was going to be my pension, now it isnt

redhead123

he was going to sell his after I sold mine, it needs a bit of TLC first but is bigger and in better area

I wish i'd thought it through more although i didn't think she would put it back on the market...and the houses in the area that were on the market didn't look that great and there were a lot of repossessions so I thought it would be a good time! (never is though eh!)



I've just forked out 220 quid for the HIP as well grrrrr!

redhead123

motherof6 wrote: »

, what sort of figure would it rent out for? If that will cover your mortgage and remember you would need to notify your mortgage company and they may well put you on a higher interest rate if they are happy for you to rent it out it may well be more prudent for you to rent it at this time than try to sell it.

Around 600 quid per month which would be fine when i'm on the SRV but if I went back to fixed rate if rates started to rise, the rent wouldn't cover it and managing fees.

neas

in this market hers would get 125k... and sell weeeelll before yours.

Yours is worth at best 110k.. its smaller, worse decor, looks smaller kitchen and doesnt have loft conversion.

sorry just obvious to anyone viewing properties. even yourself can see it. why would someone pay more for less?

dopester

Renting it out is fine, so long as you consider and accept than house prices can continue to keep on falling. Significantly. Also rental market values can fall - what a landlord can charge the market, depending on job-losses, pay-cuts ect.

That is obvious of course, and something anyone with basic common sense would realise, but often people come here not accepting that they should have responsibility for the own actions when it is all going wrong. The violiners comfort them though.

Yoo-hoo. Your neighbour also has that access to the back courtyard and a smarter shed thingy. (There is a shocking pink house on your road. )