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property question
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want2bmortgage3
Posts: 1,966 Forumite
hi all
i'm currently paying a mortgage of £102k on a property worth £140-150k (cost £140k nearly 4 years ago).
my income is less than £20k.
The property is currently let out via the council local housing benefit scheme.
I want to sell the property and my tenant wants to move so selling will do her a favour and make the council find alternative accomodation.
My mortgage has an early redemption fee until the end of the year of £3,300.
If I could get £145k then this would cover the fee and I could sell now without buying anything else. Currently happy renting a room at a friends.
I just dont want the hassle of a property and want a bit of freedom.
If I did buy another property of a lesser value I would only be charged 3% of the difference as an early repayment charge. Would also mean I'd have to go through the credit and income checks again.
What should I do?
i'm currently paying a mortgage of £102k on a property worth £140-150k (cost £140k nearly 4 years ago).
my income is less than £20k.
The property is currently let out via the council local housing benefit scheme.
I want to sell the property and my tenant wants to move so selling will do her a favour and make the council find alternative accomodation.
My mortgage has an early redemption fee until the end of the year of £3,300.
If I could get £145k then this would cover the fee and I could sell now without buying anything else. Currently happy renting a room at a friends.
I just dont want the hassle of a property and want a bit of freedom.
If I did buy another property of a lesser value I would only be charged 3% of the difference as an early repayment charge. Would also mean I'd have to go through the credit and income checks again.
What should I do?
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