Renting out property with mortgage

c_guerrero

You should talk to a tax professional.

AnotherJoe

This makes absolutely no sense whatsoever. You'll be losing money every month, in effect you'll be paying someone to live in your property!
You'd be better off selling it and putting the equity in a one year savings account.
You've also assumed the flat will increase in value whereas you could have a double whammy, fall in value and tenants don't pay rent. Talk to my next door neighbor who is a landlord and down £10k after tenants stopped paying tenant and needed legal action to evict.

Onemanandtwolittleladies

You seem really desperate to move back in with parents. I couldn’t think of anything worse personally, especially with a partner.

In my experience, you become a landlord because you want to invest in property. Doing it half baked because you want to sell for £9k more is a recipe for disaster and will cost you far more in the long run, both financially and in stress.

p00hsticks

Onemanandtwolittleladies wrote: »

You seem really desperate to move back in with parents. I couldn’t think of anything worse personally, especially with a partner.

I was also going to make this point.

Are the parents fully on board with this idea ?

And surely you wouldn't expect not to be contributing to their household expenses / paying them rent while you live there ?


I can't really see how you are going to make this work financially.

Either sell at the best price you can get now or decide your property isn't currently worth what you want to sell for, and just stay put.