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Who should I go to for advice?
Options
scatterbrain109
Posts: 129 Forumite
In a nutshell...
We own a 4-5 bed house with a £350K mortgage/.debt costing around £1500 per month. It is in St Albans Herts
Houses like ours in this area are currently renting out at £2.1 - £2.5K per month - ours is probably toward the mid lower end.
Selling for around £750 -£850K - ours is probably at the mid - lower end
I say at the mid lower end because we like bright colour blocks - e.g sunburst yellow, raspbery bellini etc, not white which seems to be the current preferred colour scheme for renters/buyers
We want to move out, possilby to Newcastle or the scottish borders but would like to keep the house for it's investment potential.
Who can advise us on our options re mortgaging etc so we can go elsewhere for approx £400K while keeping this house
A solicitor?
An accountant?
An IFA?
Anyone else?
We think that we must have options with so much equity but just not sure which professional is best placed to help
Any advice gratefully received.
xxx
We own a 4-5 bed house with a £350K mortgage/.debt costing around £1500 per month. It is in St Albans Herts
Houses like ours in this area are currently renting out at £2.1 - £2.5K per month - ours is probably toward the mid lower end.
Selling for around £750 -£850K - ours is probably at the mid - lower end
I say at the mid lower end because we like bright colour blocks - e.g sunburst yellow, raspbery bellini etc, not white which seems to be the current preferred colour scheme for renters/buyers
We want to move out, possilby to Newcastle or the scottish borders but would like to keep the house for it's investment potential.
Who can advise us on our options re mortgaging etc so we can go elsewhere for approx £400K while keeping this house
A solicitor?
An accountant?
An IFA?
Anyone else?
We think that we must have options with so much equity but just not sure which professional is best placed to help
Any advice gratefully received.
xxx
Sealed pot challenge number - #057 2017 = £172.57 2018 = ????
15/12/17 Mortgage £219,902 Secured loan £54,946 Unsecured £66,088:eek:
15/1/18 Mortgage £219,596 Secured loan £54,492 Unsecured £64,,459 :eek:
15/12/17 Mortgage £219,902 Secured loan £54,946 Unsecured £66,088:eek:
15/1/18 Mortgage £219,596 Secured loan £54,492 Unsecured £64,,459 :eek:
0
Comments
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scatterbrain109 wrote: »Houses like ours in this area are currently renting out at £2.1 - £2.5K per month - ours is probably toward the mid lower end.
I say at the mid lower end because we like bright colour blocks - e.g sunburst yellow, raspbery bellini etc, not white which seems to be the current preferred colour scheme for renters/buyers
We want to move out
If you are going to rent the house out, why not spend some money on repainting in neutral colours? You'd soon get it back in rent.0 -
80% will do but can't 100% guarantee.
I'm a natural pessimist so always go for worst case.
Sealed pot challenge number - #057 2017 = £172.57 2018 = ????
15/12/17 Mortgage £219,902 Secured loan £54,946 Unsecured £66,088:eek:
15/1/18 Mortgage £219,596 Secured loan £54,492 Unsecured £64,,459 :eek:0 -
1) Speak to an independant mortgage broker
2) prepare the property for letting. that includes either painting it, or getting someone in to paint it. You will inevitably have to spend money before letting - this is just one of the set-up costs (and as mojisola says, repainting costs will soon be re-couped)
3) read this link, and then all the links at the end of it:
* New landlords: advice, information & links
4) then read these:
* Tenancies in Eng/Wales: Guides for landlords and tenants0 -
Thank you. We appreciate your time
Is an Independent Mortgage Broker the same as an IFA?
If not, where can we find one?Sealed pot challenge number - #057 2017 = £172.57 2018 = ????
15/12/17 Mortgage £219,902 Secured loan £54,946 Unsecured £66,088:eek:
15/1/18 Mortgage £219,596 Secured loan £54,492 Unsecured £64,,459 :eek:0 -
It's Ok, I've googled Independent mortgage broker St Albans and there are are quite a few. Will hopefully take a lunchbreak next week to touch base with one or two of them.
I suppose we are asset rich, income poor,
Its draining!
sick of being broke!Sealed pot challenge number - #057 2017 = £172.57 2018 = ????
15/12/17 Mortgage £219,902 Secured loan £54,946 Unsecured £66,088:eek:
15/1/18 Mortgage £219,596 Secured loan £54,492 Unsecured £64,,459 :eek:0
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