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Should I remortgage?

2 replies

fedup22a · 20/06/2023 18:58

I’ve taken a year out of work for mental health reasons. I’m still doing supply work to make some cash. I have a small flat which is not worth much in an area that doesn’t see much house price increase. I’ve put it for rent for last 10 years, I end up putting money into it rather than making any so decided I’ll sell it as can’t afford to keep it. Been on market for nearly 6 months and no sale.

I’ve got 2 options now: 1) remortgage it, get some cash out of it so don’t have to worry about money for next year whilst I focus on my health. Or 2) keep it rented. WWYD?

OP posts:
Thehippowife · 20/06/2023 18:59

I would remortgage and then rent it out to tick it over…

fedup22a · 20/06/2023 19:08

@Thehippowife thank you. It’s £27k away from being paid off completely. DH thinks I’m making a huge mistake as I will be paying mortgage for rest of 25 plus years

OP posts:
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