I want to move at some point, but it must be in a very specific location and it will take a long time (maybe a couple of years) for the right house to come up there. I don't see how I can put my house on the market with this in mind, so I've been wondering about renting it out instead once I eventually find something. I've tried to do a bit of research but I'm still a bit confused. My main question is, how much would this impact what I can spend on the new house?
My current house is worth £225k
Mortgage is £125k (and the max I can borrow)
I have an additional £100k of savings to add to new deposit so could go up to £325k if I were to sell
My house would rent for approx £850 per month.
Just to add, due to long and boring circumstances that I won't go into, I am totally comfortable having the maximum mortgage I'm allowed.
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Property/DIY
Renting out my house instead of selling?
12 replies
TheMichelinLady · 28/08/2020 06:13
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