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Sell or Let???
mkbswimstar
Posts: 236 Forumite
DH and I have our house on market but with the HIPP date looming over us, so has everyone else put their houses up. Out situation is: we are moving to a new area and wanted house b4 selling this one to get it cheap and do it up b4 we move in, so we r nearly at exchange on a BTL mortgage, even though we plan to live in it after a while. We hoped out house would sell and use the equity to pay off most of the BTL mtg + provide £20k to live on for a year and £30k deposit to pick up another property to do up and let or sell. We will be losing jobs by moving to new area but plan to make moeny doing props up (we have done a couple before).
Plus one of us might work part time.
Now our house is not selling and we wondering if going into this prop business then are we silly to sell it and not let it out? However if we let it out we would need to still release the equity. All too confusing for me.
What do you experts think?
Plus one of us might work part time.
Now our house is not selling and we wondering if going into this prop business then are we silly to sell it and not let it out? However if we let it out we would need to still release the equity. All too confusing for me.
What do you experts think?
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