Background: Currently sahm and carer going back to work in sept 2018, cant before due to caring commitments. Moving following divorce to new area 80 miles away, 140k funds 60k mortgage needed.
Im looking to maximise house price here in southeast and buy in cheaper area in the midlands. Will end up with same type of house for less.
I have okay to good credit never ccjs etc, I dont have loans or car finance and I have savings. Bank account already clear with frugal outgoings as i generally live that way.
A) Sell house now, buy in feb march 2018 as worried about falling house prices but my mother would need to mortgage some of her equity on one of her properties that i would repay as i wouldn't qualify right now.
B) Sell house now and buy after a year in feb 2019. Would stay with family short-term then move to new area and rent and start work sept 2018 to get wage slips needed to qualify for the mortgage so approx one year after sale.
Would i lose alot of money in a falling market in one year ?
C) Rent house out for one year then sell jan feb 2019. The rent recieved will cover cost of rent in new area and current mortgage ie rent here is 850-950 but 550 -600 in new area.
Then same as b) work sept 2018 to get wage slips needed to qualify for the mortgage and would i lose alot of money in a falling market in one year?
Wwyd and why?
Thanks in advance
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Selling house - Wwyd a b or c and why?
9 replies
flirtygirl · 21/10/2017 12:05
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