Downsizing - sell or remortgage current mortgage-free property?

Mdinterface

I would love to hear people's opinions re: downsizing my current property which is now mortgage-free (2 bedroom approx. value £500k London zone 3 – 7 minutes walk from tube station).  I am unsure whether to sell now or let-to-buy remortgage for cash to buy the new smaller property (1 bedroom max value £270K – probably zone 6 or even further out). I have heard the adage “Always buy, never sell”, but I am an older single with no direct dependants waiting for an inheritance. 

The flat which was purchased over 20 years in a Grade II listed building (converted church) and I am finding its unique ‘challenges’ e.g. low EPC rating, less than ideal soundproofing etc. are becoming more and more problematic for me

My tentative plan for the remaining funds is to buy on auction and keep flipping.  I don’t think I have the time/effort to spare to be a landlord

Many thanks in advance!

dimbo61

Well you can't rent a property with an EPC of F or G and the government is proposing to push for C rating or better by 2025/2028.
Poor sound insulation could also mean high turn over of tenants.
Why would a BTL mortgage lender offer you a £270,000 mortgage if your not going to rent the flat out ?
Being a Landlord and making money out of it is not always an easy ride.
Are you a higher rate tax payer

Mdinterface

Thanks dimbo61, I got an EPC rating of E and know that the govt will be pushing for higher.  This as well as the other challenges such as poor sound insulation are also pushing me to sell instead of rent.  I had planned to rent it out at first and have received a mortgage offer of £300k which I am now thinking of declining.