To sell or not to sell

[Kelli92]

Hi there, just posting to see if I can get some advice so we are looking to sell our semi detached property however with the interest rates rising is it a good time? So unsure what to do😅

Depends what you are going to do once sold? Upsize? Downsize? Travel the world?

To be fair I think the market will slow down massively.

It depends. Can you port your existing mortgage and if not do you need to borrow more for the move? Why are you moving?

Property prices are likely to fall so while your house will sell for less you may be able to buy for cheaper. If you need to move then you should just do it based on your lifestyle needs but otherwise you should make sure you can really afford the cost of a new mortgage if one is required.

Hi thanks for replying. We bought the house as an investment back in early 00's and have an interest only mortgage atm so full mortgage needs paid in a few years.
We are worried if we try to sell we may loose current tenant and demand and prices are going to fall with interest rates etc so its whether to wait or go for it.....

Oh, you are worrying about whether to sell up out of an investment property?

If you don't think you'll be able to remortgage in a few years time or if you need the money now then you should sell.