Sell or Consent to Let

sonub4ualt

Hi everyone,

Looking for some advice or perspectives on my situation.

Due to personal circumstances, my family and I have had to move into a rented property closer to our relatives until around October 2026. Our own house (the one we moved out of) has a mortgage renewal due in September 2026.

We’re planning to eventually sell this property and use the equity (around £160k) to buy another home once we’re settled next year. However, I’m unsure whether it makes more sense to sell now or rent it out short-term (around 9 months) to help cover costs.

The mortgage is currently £1,800/month, and paying that on top of rent (1750) is becoming a financial strain. I’ve spoken to my lender, and they’re willing to provide consent to let, so that’s an option.

My main concerns are:

If I put the house on the market now and it doesn’t sell quickly, I’ll still be stuck covering both rent and mortgage payments.

On the other hand, if I rent it out, I need to make sure I’m not overlooking anything important (especially around tax implications, CGT, or any other financial considerations). I am high rate tax payer and wife is Basic rate taxpayer and we both have 50-50 share in the property, so even if we rent it who would be liable for tax on income from rent?

The selling market isn’t great, but it’s still acceptable, so I’m just trying to weigh which option might be less risky and more practical over the next year.

Would really appreciate any thoughts or experiences from anyone who’s been in a similar position — sell now or rent short-term until next year, when the market regains some movement.

We have however signed a Assured Shorthold tenancy for 1 year, so cannot move out of the tenancy.

Thanks in advance!

Mutton_Geoff

sonub4ualt said:

Hi everyone,

Looking for some advice or perspectives on my situation.

Due to personal circumstances, my family and I have had to move into a rented property closer to our relatives until around October 2026. Our own house (the one we moved out of) has a mortgage renewal due in September 2026.

We’re planning to eventually sell this property and use the equity (around £160k) to buy another home once we’re settled next year. However, I’m unsure whether it makes more sense to sell now or rent it out short-term (around 9 months) to help cover costs.

The mortgage is currently £1,800/month, and paying that on top of rent (1750) is becoming a financial strain. I’ve spoken to my lender, and they’re willing to provide consent to let, so that’s an option.

My main concerns are:

If I put the house on the market now and it doesn’t sell quickly, I’ll still be stuck covering both rent and mortgage payments.

On the other hand, if I rent it out, I need to make sure I’m not overlooking anything important (especially around tax implications, CGT, or any other financial considerations). I am high rate tax payer and wife is Basic rate taxpayer and we both have 50-50 share in the property, so even if we rent it who would be liable for tax on income from rent?

The selling market isn’t great, but it’s still acceptable, so I’m just trying to weigh which option might be less risky and more practical over the next year.

Would really appreciate any thoughts or experiences from anyone who’s been in a similar position — sell now or rent short-term until next year, when the market regains some movement.

We have however signed a Assured Shorthold tenancy for 1 year, so cannot move out of the tenancy.

Thanks in advance!

You need to look at this another way and ask yourself if you want to risk starting a new business using capital tied up in your home for such a short term. It makes much more sense to sell and move on.

sonub4ualt said:

We have however signed a Assured Shorthold tenancy for 1 year, so cannot move out of the tenancy.

Do you have a break clause?

jonnydeppiwish!

Do you understand that the £1800 you potentially receive in rent could be taxed at 20-40%, what will you do if the tenant doesn’t pay?
might look better to rent out but could actually be cheaper to sell, even if on the market for longer

Isthisforreal99

Sell, a 'problem' tenant could mean many delays when it comes to selling, i.e. they may not leave when you want them to.

sonub4ualt

Mutton_Geoff said:

sonub4ualt said:

Hi everyone,

Looking for some advice or perspectives on my situation.

Due to personal circumstances, my family and I have had to move into a rented property closer to our relatives until around October 2026. Our own house (the one we moved out of) has a mortgage renewal due in September 2026.

We’re planning to eventually sell this property and use the equity (around £160k) to buy another home once we’re settled next year. However, I’m unsure whether it makes more sense to sell now or rent it out short-term (around 9 months) to help cover costs.

The mortgage is currently £1,800/month, and paying that on top of rent (1750) is becoming a financial strain. I’ve spoken to my lender, and they’re willing to provide consent to let, so that’s an option.

My main concerns are:

If I put the house on the market now and it doesn’t sell quickly, I’ll still be stuck covering both rent and mortgage payments.

On the other hand, if I rent it out, I need to make sure I’m not overlooking anything important (especially around tax implications, CGT, or any other financial considerations). I am high rate tax payer and wife is Basic rate taxpayer and we both have 50-50 share in the property, so even if we rent it who would be liable for tax on income from rent?

The selling market isn’t great, but it’s still acceptable, so I’m just trying to weigh which option might be less risky and more practical over the next year.

Would really appreciate any thoughts or experiences from anyone who’s been in a similar position — sell now or rent short-term until next year, when the market regains some movement.

We have however signed a Assured Shorthold tenancy for 1 year, so cannot move out of the tenancy.

Thanks in advance!

You need to look at this another way and ask yourself if you want to risk starting a new business using capital tied up in your home for such a short term. It makes much more sense to sell and move on.

sonub4ualt said:

We have however signed a Assured Shorthold tenancy for 1 year, so cannot move out of the tenancy.

Do you have a break clause?

My question is if I find a good tenant, and the bank at the time of renewal asks me to change it to Buy-To-Let, is there a possibility for me to release some equity(currently 40%) to purchase another property. 

Some of my close family members have advised to keep the property for longer term as it is in a prime location and will fetch much higher price down 5-10 years, but built in 1930 and needs some maintenance work every other year.

train station-7 min walk
1 Nursery Outstanding-0.1 mile
2 Primary schools Good
2 Secondary schools Outstanding and Good- 0.4 miles and 0.9 miles
Two of the top 20 Grammar Schools in England -0.1 mile
Buses to city centre-every 5-6 min
All big food retailers 10-20 min walk Sainsbury’s, Aldi, Asda, and many more.

Thanks

user1977

sonub4ualt said:

Mutton_Geoff said:

sonub4ualt said:

Hi everyone,

Looking for some advice or perspectives on my situation.

Due to personal circumstances, my family and I have had to move into a rented property closer to our relatives until around October 2026. Our own house (the one we moved out of) has a mortgage renewal due in September 2026.

We’re planning to eventually sell this property and use the equity (around £160k) to buy another home once we’re settled next year. However, I’m unsure whether it makes more sense to sell now or rent it out short-term (around 9 months) to help cover costs.

The mortgage is currently £1,800/month, and paying that on top of rent (1750) is becoming a financial strain. I’ve spoken to my lender, and they’re willing to provide consent to let, so that’s an option.

My main concerns are:

If I put the house on the market now and it doesn’t sell quickly, I’ll still be stuck covering both rent and mortgage payments.

On the other hand, if I rent it out, I need to make sure I’m not overlooking anything important (especially around tax implications, CGT, or any other financial considerations). I am high rate tax payer and wife is Basic rate taxpayer and we both have 50-50 share in the property, so even if we rent it who would be liable for tax on income from rent?

The selling market isn’t great, but it’s still acceptable, so I’m just trying to weigh which option might be less risky and more practical over the next year.

Would really appreciate any thoughts or experiences from anyone who’s been in a similar position — sell now or rent short-term until next year, when the market regains some movement.

We have however signed a Assured Shorthold tenancy for 1 year, so cannot move out of the tenancy.

Thanks in advance!

You need to look at this another way and ask yourself if you want to risk starting a new business using capital tied up in your home for such a short term. It makes much more sense to sell and move on.

sonub4ualt said:

We have however signed a Assured Shorthold tenancy for 1 year, so cannot move out of the tenancy.

Do you have a break clause?

Some of my close family members have advised to keep the property for longer term as it is in a prime location and will fetch much higher price down 5-10 years

If that were such a certainty then surely it would be reflected in the current price?

Isthisforreal99

And are these close family members in the property letting game and have any idea of the many onerous obligations that being a landlord brings? How do you think you would find a 'good' tenant. They probably all look good on paper and to be fair the vast majority will be.

If you went ahead with letting then you are looking at CGT being due on the increased value from when you move out and evwntually sell.

sonub4ualt

jonnydeppiwish! said:

Do you understand that the £1800 you potentially receive in rent could be taxed at 20-40%, what will you do if the tenant doesn’t pay?
might look better to rent out but could actually be cheaper to sell, even if on the market for longer

There are properties, which are still on the market for over 6 months and arent sold, as the costs are over 500k. We initially thought of selling, but will consider renting through agents to manage. 

The area is very much sought after due to outstanding schools and good links to public transport. So, a bit hesitant to sell it, definitely will not be able to afford similar property anywhere in the near future.

jonnydeppiwish!

sonub4ualt said:

jonnydeppiwish! said:

Do you understand that the £1800 you potentially receive in rent could be taxed at 20-40%, what will you do if the tenant doesn’t pay?
might look better to rent out but could actually be cheaper to sell, even if on the market for longer

There are properties, which are still on the market for over 6 months and arent sold, as the costs are over 500k. We initially thought of selling, but will consider renting through agents to manage. 

The area is very much sought after due to outstanding schools and good links to public transport. So, a bit hesitant to sell it, definitely will not be able to afford similar property anywhere in the near future.

If they’re still on the market after 6 months, then they’re over priced.

sonub4ualt

Isthisforreal99 said:

And are these close family members in the property letting game and have any idea of the many onerous obligations that being a landlord brings? How do you think you would find a 'good' tenant. They probably all look good on paper and to be fair the vast majority will be.

If you went ahead with letting then you are looking at CGT being due on the increased value from when you move out and evwntually sell.

Yes, some of them are into lettings, but they have released equity from their current property to put a deposit to buy another. In my case, it was unfortunate we had to move out due to family circumstances.

Isthisforreal99

sonub4ualt said:

jonnydeppiwish! said:

Do you understand that the £1800 you potentially receive in rent could be taxed at 20-40%, what will you do if the tenant doesn’t pay?
might look better to rent out but could actually be cheaper to sell, even if on the market for longer

There are properties, which are still on the market for over 6 months and arent sold, as the costs are over 500k. We initially thought of selling, but will consider renting through agents to manage. 

The area is very much sought after due to outstanding schools and good links to public transport. So, a bit hesitant to sell it, definitely will not be able to afford similar property anywhere in the near future.

And as said earlier if it was as sought after as you say surely these properties wouldn't be on the market for 6 months? 

That suggests they are overpriced.