Sell or Let please

Alan2020

Hello MSEs,
About four years ago I bought my house in the SE for £178K, now I might have an opportunity to move. Online the house is valued at £269K, and I have one year left on the fixed term mortgage. Rental wise comes to about £1K pcm.

Should I;
1. Remortgage as BTL and rent out - worried of the new tax malarky
2. Sell and cash it in
3. Move in a Chain to a property in the North of the country
-a - Buy same size property but cash the money and maybe deposit for a smaller BTL
-b - Buy same cost property as sales - massive (to me)
-c - Buy same cost large house converted to 4 flats and live in one while being landlord/freeholder to all the rest (one that interests me a lot but scary!)

I would be really grateful for any views as its doing my head in :eek:
Thanks

justme111

If you get more information on all options it will become clearer. 1- what exactly tax malarkey you worried about - what will be income , mortgage payments, agency fees, tax numbers? How easy is it to rent out? Where are you going to live?
2. What are you going to do with cash? Where you going to live?
3a. How long you going to be living up north for ?
3b why would you want to do that ?
3c. What will be resale value of those ? How easy they are to sell ? How easy they are to rent? How awkward it will be to live so close to a place you rent out? What are the numbers - ground charges , fees, mortgage etc?
If it does not work then in option 1 it should be reasonably straightforward to sell while option 3c you may be stuck with it after already incurring one set of selling fees from your house. It would be the least favourite option to me

Pixie5740

What do you want to achieve? Where do you want to live? In the South East or the North? Do you have friends, family and work in the North?