In a predicament kind of

foxy-stoat

Less than £51,000 as the house has lost money, the equity loan is reduced accordingly in this case.

Thrugelmir

rspencer wrote: »

It would be good to rent it out as we can make something from our house rather than losing so much by selling it outright.

What makes you believe that letting the property is going to be that profitable to make it worthwhile?

Potentially you could lose far far more.

cannugec5

I have a friend who moved to Oz and rented his house in the UK to a trusted friend. Things went great for the first couple of years. Now the ' trusted friend' has stopped paying and the guy in OZ is having to deal with courts and bailifs long distance. He has had no rent for over a year now...