possible solutions/options for inablity to sell uk home!
Feb 23rd 2010, 12:19 pm
#1
Just Joined
Thread Starter
Joined: Feb 2010
Posts: 3
possible solutions/options for inablity to sell uk home!
Hi, just thought I'd put down a couple of options for those of you who are struggling to sell your uk home, which may represent the opportunuity to get going!
1) consider house swapping. There are lots of companies offering house swapping to australia, its a cheap and convenient opportunity to move without having to sell your uk home and often comes with the use of a vehicle. This is particularly handy as it gives you the chance to try it out first without incurring hideous costs. If you dont like life down under you then have the chance to move back to the uk without having to go through the rigmarole of a new purchase plus costly extras like removals and stamp duty, if you do like your new life it gives you the incentive to move with absolute confidence, plus (assuming the exchange rate moves in a favourable direction!) makes buying a property in Australia more affordable. You dont have to live in a twee cottage in cornwall to do it either, lots of areas and house types are of interest to someone from another country, although if you do have a pretty location or sought after area ie london you are in with a better chance!
2) Look into using a holiday lettings agency, these can be very costly (they take a bout 25% comission!) but you'd most probably be pleasantly surprised by how much your home could generate as a holiday let! (we live in rural wales and have been told we'd be getting around £2500-£3000 per week in peak season. Its not guaranteed but would at least act as a buffer and there are good tax breaks.
3) let your property. Depending on how much equity you have in your home you may be able to remortgage and give yourselves a decent chunk to take and cover the outstanding mortgage at the same time. So long as the mortgage is covered, you can start afresh down under. Again, there are tax breaks - the interest portion of your mortgage is tax deductable.
Trying to sell your house can be a really frustrating time, especially if youre mentally geared up to go. It will sell, but no one can tell you when, if youre running out of time these are just a few possible options that may be of use for someone out there! good luck, whatever you do!
1) consider house swapping. There are lots of companies offering house swapping to australia, its a cheap and convenient opportunity to move without having to sell your uk home and often comes with the use of a vehicle. This is particularly handy as it gives you the chance to try it out first without incurring hideous costs. If you dont like life down under you then have the chance to move back to the uk without having to go through the rigmarole of a new purchase plus costly extras like removals and stamp duty, if you do like your new life it gives you the incentive to move with absolute confidence, plus (assuming the exchange rate moves in a favourable direction!) makes buying a property in Australia more affordable. You dont have to live in a twee cottage in cornwall to do it either, lots of areas and house types are of interest to someone from another country, although if you do have a pretty location or sought after area ie london you are in with a better chance!
2) Look into using a holiday lettings agency, these can be very costly (they take a bout 25% comission!) but you'd most probably be pleasantly surprised by how much your home could generate as a holiday let! (we live in rural wales and have been told we'd be getting around £2500-£3000 per week in peak season. Its not guaranteed but would at least act as a buffer and there are good tax breaks.
3) let your property. Depending on how much equity you have in your home you may be able to remortgage and give yourselves a decent chunk to take and cover the outstanding mortgage at the same time. So long as the mortgage is covered, you can start afresh down under. Again, there are tax breaks - the interest portion of your mortgage is tax deductable.
Trying to sell your house can be a really frustrating time, especially if youre mentally geared up to go. It will sell, but no one can tell you when, if youre running out of time these are just a few possible options that may be of use for someone out there! good luck, whatever you do!
Feb 23rd 2010, 12:24 pm
#2
Septic Sprout
Joined: Aug 2004
Location: Shanghai
Posts: 7,993
Re: possible solutions/options for inablity to sell uk home!
Feb 23rd 2010, 12:39 pm
#3
Account Closed
Joined: Jun 2007
Posts: 8,913
Re: possible solutions/options for inablity to sell uk home!
