Before I'm 40...

30s_Suffolk_Lass

The feeling I am getting is to sell this time next year and hammer down on the loan in the meantime whilst at bf's.

sammyjammy

30s_Suffolk_Lass said:

SusieT said:

To add to the points about renting it, the tenants may not move out immediately and going through court could be costly, plus they may decide to simply stop paying rent once you have given notice and you would need to pay the mortgage as well as court fees, which although technically would be payable by the tenants and to a point could be deducted from the deposit, you may be well out of pocket at the end of it. You also have the question of what to do with your furniture, if you rent it furnished you could get it back with shall we say "well used" furnishings and not the nice things you left there, so you may need to consider the cost of storage in your calculations.  
If you do decide to let it, please make sure you have a clause in the contract saying that the owner may want to move back in, as that can be a big help if you need to ask the tenants if they would leave. 

Thank you. 

The furniture is coming with me, which the agent also advised. 

Whilst I am at bf's I am able to pay the mortgage if they stop paying, but obviously this wouldn't be ideal. In the longer term this is something I would need to consider more. The agent also have an insurance included whereby the rent would be covered for 15 months. 

I will check re the extra clause also.

landlord insurance via your agent is exactly the kind of thing you should avoid, it's likely to have the invisible words I AM A RIP OFF in the title, sort it yourself, getso quotes.

Stateofart

As a soon to be ex-landlord, I wouldn't bother.  The financial gain is not worth the potential issues.  Last two years rent was taken up by a split water tank in the loft (took all the profit for the year) and the last year the tenant didn't pay for the last six months, costing me close to 4K in lost money.  Oh, and it took over a year to evict.