Sell or Consent to Let

sonub4ualt

Isthisforreal99 said:

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

If the tenant does not want to leave, we may move back into property after a year’s tenancy.

jonnydeppiwish!

sonub4ualt said:

Isthisforreal99 said:

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

If the tenant does not want to leave, we may move back into property after a year’s tenancy.

How when the tenant doesn’t want to leave?

Isthisforreal99

sonub4ualt said:

Isthisforreal99 said:

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

If the tenant does not want to leave, we may move back into property after a year’s tenancy.

To the property they won't move out of? How do you propose to do that?

sonub4ualt

Isthisforreal99 said:

sonub4ualt said:

Isthisforreal99 said:

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

If the tenant does not want to leave, we may move back into property after a year’s tenancy.

To the property they won't move out of? How do you propose to do that?

The new law may allow us to give enough notice, I am very new to this so may not know the rules and regulations as such.

• New Grounds for Possession: Amended Section 8 grounds will include new mandatory reasons for landlords to reclaim their property, such as wanting to sell the property or a family member moving in (subject to a 12-month restriction at the start of a tenancy and four months' notice).

user1977

sonub4ualt said:

Isthisforreal99 said:

sonub4ualt said:

Isthisforreal99 said:

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

If the tenant does not want to leave, we may move back into property after a year’s tenancy.

To the property they won't move out of? How do you propose to do that?

The new law may allow us to give enough notice, I am very new to this so may not know the rules and regulations as such.

• New Grounds for Possession: Amended Section 8 grounds will include new mandatory reasons for landlords to reclaim their property, such as wanting to sell the property or a family member moving in (subject to a 12-month restriction at the start of a tenancy and four months' notice).

Yes, but it's not going to make the process any easier than it currently is. You'd still need to go to court to get the eviction order, not just turn up with a baseball bat.

_Penny_Dreadful

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?

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

You could apply for a let to buy mortgage which could potentially allow you to release 15% of the equity as let to buy mortgages generally require a 25% deposit. 

Your new house purchase will attract the higher rate of SDLT which at present is an additional 5%. 

As you and your wife own the property 50/50 any rental income would need to be split 50/50. You may want to consider changing the beneficial ownership to 99/1 in your wife’s favour since you’re a higher rate tax payer. 

CGT is already a factor for you since the property is no longer your only or main home. 

_Penny_Dreadful

sonub4ualt said:

Isthisforreal99 said:

sonub4ualt said:

Isthisforreal99 said:

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

If the tenant does not want to leave, we may move back into property after a year’s tenancy.

To the property they won't move out of? How do you propose to do that?

The new law may allow us to give enough notice, I am very new to this so may not know the rules and regulations as such.

• New Grounds for Possession: Amended Section 8 grounds will include new mandatory reasons for landlords to reclaim their property, such as wanting to sell the property or a family member moving in (subject to a 12-month restriction at the start of a tenancy and four months' notice).

Issuing the notice is step 1 of the process. As the tenancy can only be ended by the tenant or a court should the tenant decide not to move out at the end of the notice period you would need to apply to court for an eviction order. Even then the tenant may not move out which means you’d need to engage county court bailiffs or high court enforcement officers to physically remove the tenants. Then you could move back in. 

It’s worth saying that it’s the minority of evictions that go that far but it can and does happen. 

sonub4ualt

_Penny_Dreadful said:

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?

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

You could apply for a let to buy mortgage which could potentially allow you to release 15% of the equity as let to buy mortgages generally require a 25% deposit. 

Your new house purchase will attract the higher rate of SDLT which at present is an additional 5%. 

As you and your wife own the property 50/50 any rental income would need to be split 50/50. You may want to consider changing the beneficial ownership to 99/1 in your wife’s favour since you’re a higher rate tax payer. 

CGT is already a factor for you since the property is no longer your only or main home. 

How do I change the peoperty to 99/1 when she is not the main earner. If it’s possible, I will be more than happy to give her 99% and keep 1% to avoid taxes.

Also, the current move is only for very short duration may be less than a year.

Emmia

sonub4ualt said:

Isthisforreal99 said:

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

If the tenant does not want to leave, we may move back into property after a year’s tenancy.

This sounds like the world's most bizarre house share. 

Emmia

sonub4ualt said:

_Penny_Dreadful said:

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?

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

You could apply for a let to buy mortgage which could potentially allow you to release 15% of the equity as let to buy mortgages generally require a 25% deposit. 

Your new house purchase will attract the higher rate of SDLT which at present is an additional 5%. 

As you and your wife own the property 50/50 any rental income would need to be split 50/50. You may want to consider changing the beneficial ownership to 99/1 in your wife’s favour since you’re a higher rate tax payer. 

CGT is already a factor for you since the property is no longer your only or main home. 

How do I change the peoperty to 99/1 when she is not the main earner. If it’s possible, I will be more than happy to give her 99% and keep 1% to avoid taxes.

Also, the current move is only for very short duration may be less than a year.

Your problem is that tenancies are normally 12 months + so if you got a tenant, then that's the minimum they'd stay for.

Realistically, how likely is it that you'll definitely move back in a year? Are you also changing your work locations, kids schooling etc. if so all this moving will be really disruptive and you may not move back.

Is there another option, could one person move out leaving the rest of the family in the house? You haven't given any info on the situation, so it's difficult to make suggestions on alternative approaches that might be open.

If it really is just for a year, I can see the attraction of keeping it and renting it out using a managing agent - especially if the location and amenities are ones you want to return to, and you'll struggle to afford a comparable property at that point