markr1963

Looks like the housing market is slowing in the UK and, seeing as my gaff hasw been on the market since June, I'm thinking of letting it. Not only that but remortgaging to release some captial for a house purchase over here.

Has anyone done either or both the above?

TIA
Mark

YFitz

Hi Mark
There has been loads of stuff about renting your house out. Try doing a search on here. There are a few horror stories too about dodgy tenents and useless management agencies so beware! Our sale has just fallen through so we are in the same position as you but we have friends who are building a house so are going to rent ours on a month by month basis so that there wont be a problem if ours sells- (otherwise you could be locked into a 6 month lease) and they will also allow access for viewings- maybe this is something you you could check out.
Sorry, don't have a clue about the remortgaging thing.
Cheers
Yv

bert-doozer

Mark,

You wont be locked in for 6 months, as a landlord in UK under a Short Hold Tenency Agreement you have to give your tenenats 2 months notice to vacate. They only have to give you 1 month.

Hope this helps

Stu

markr1963

Yv:
Having a bit of trouble finding anything relevant But I'll keep looking Not too worried about be tied into a tenancy. If I go down the rental route I'd prefer long term tenants I reckon (12 mths or more) as I should be able to refinance based on the proposed income.

Stu:
Worth knowing it's not 6 months should I have a change of plans.

If any event, refinance or sell, it ain't looking too good ATM for moving money out here.

Mark

bert-doozer

Mark,

No mater how long you sign your tenants up for 12/18/24 months, you still only have to give the 2 months notice.

Don

Incorrect. Just do a google search on terms & conditions of shorthold tenancy agreement and you will see.