Anyone decide to rent their UK house out
Aug 19th 2008, 2:38 pm
#1
BE Enthusiast
Thread Starter
Joined: Jul 2007
Location: Stake Hill, WA
Posts: 318
Anyone decide to rent their UK house out
Rather than sell it?
I didn't want to do this, but it looks like the way to go. Anyone else go down this route?
Any tips or guidence?
I didn't want to do this, but it looks like the way to go. Anyone else go down this route?
Any tips or guidence?
Aug 19th 2008, 2:49 pm
#2
mmmmmm duff
Joined: May 2006
Location: Maudsland, Gold Coast, QLD
Posts: 1,629
Re: Anyone decide to rent their UK house out
Lots of people - do a search......
We have, got all the way down the line and are moving out next week, shippers are booked. Turns out the estate agents are lying TW##S and its all fell through :curse:. So we are vetting other estate agents today and need to find tennants asap.
Luckily we are staying with relatives until end of September...
Good luck, you cant have any more trouble than we have.
We have, got all the way down the line and are moving out next week, shippers are booked. Turns out the estate agents are lying TW##S and its all fell through :curse:. So we are vetting other estate agents today and need to find tennants asap.
Luckily we are staying with relatives until end of September...
Good luck, you cant have any more trouble than we have.
Aug 19th 2008, 3:28 pm
#3
Just Joined
Joined: Jul 2008
Location: Hyde, Cheshire
Posts: 15
Re: Anyone decide to rent their UK house out
I think with the market you may be best renting it out......if you can afford it that is.
We may have to do the same but if it doesnt sell maybe drop the payments to interest only till it sells?
We may have to do the same but if it doesnt sell maybe drop the payments to interest only till it sells?
Aug 19th 2008, 4:56 pm
#4
BE Forum Addict
Joined: Nov 2006
Location: Buderim, Qld, Australia
Posts: 1,072
Re: Anyone decide to rent their UK house out
We did, our tenants moved in 1st August and we are presently living with the MIL. Working out OK - most of the time 
.
Rent pays for mortgage, rates and rental agents fee - JUST
We hope to sell sometime next year when the housng market picks up.
Lynn xx
.Rent pays for mortgage, rates and rental agents fee - JUST
We hope to sell sometime next year when the housng market picks up.
Lynn xx
Aug 19th 2008, 4:59 pm
#5
mmmmmm duff
Joined: May 2006
Location: Maudsland, Gold Coast, QLD
Posts: 1,629
Aug 19th 2008, 6:57 pm
#6
BE Enthusiast
Joined: Nov 2007
Posts: 906
Re: Anyone decide to rent their UK house out
Yes, we are going to rent our house out, I have been a LL for 19years in the UK.
Get a good letting agent and treat your tenants well. 90% of tenants are great.
Get a good letting agent and treat your tenants well. 90% of tenants are great.
Aug 19th 2008, 7:20 pm
#7
Forum Regular
Joined: Mar 2008
Location: South Australia - previously SHeffield, UK
Posts: 277
Re: Anyone decide to rent their UK house out
We are renting out too.
We do have someone who wants to buy our house so are very lucky but they can't sell theirs - so not so lucky. Instead of waiting and still being in the same position in 6 months time we have decided to rent and go.
Fingers crossed we can get someone in before Nov. Estate agent said that they don't have any houses to rent on books for longer than 8 weeks at the moment.
What rates do you have to pay? We have been told by Nationwide that you need at least £150k profit in house before you can change to interest only.
We do have someone who wants to buy our house so are very lucky but they can't sell theirs - so not so lucky. Instead of waiting and still being in the same position in 6 months time we have decided to rent and go.
Fingers crossed we can get someone in before Nov. Estate agent said that they don't have any houses to rent on books for longer than 8 weeks at the moment.
What rates do you have to pay? We have been told by Nationwide that you need at least £150k profit in house before you can change to interest only.
Aug 19th 2008, 9:02 pm
#8
mmmmmm duff
Joined: May 2006
Location: Maudsland, Gold Coast, QLD
Posts: 1,629
Re: Anyone decide to rent their UK house out
If so thats rubbish, I only had about 5-10K, I owe £150K
Coventry Building society were more than helpful, they couldn't find a suitable buy to let mortgage for me, so they just made my current mortgage interest only and left it at 5.6% for the next 2 years.
Aug 19th 2008, 11:57 pm
#9
Forum Regular
Joined: Aug 2007
Posts: 182
Re: Anyone decide to rent their UK house out
Hi
We have been in Brisbane 9 months and we are renting out our house in the uk. We rent it through whitegates and they have been great. They found us a tenant with a week and sorted everything for us. We changed our morgage to interest only and nothing was mentioned about having to have equity in it. We also dont have to pay rates as we are not living there. The tenant has to pay the rates.
Hope this helps
shelley
We have been in Brisbane 9 months and we are renting out our house in the uk. We rent it through whitegates and they have been great. They found us a tenant with a week and sorted everything for us. We changed our morgage to interest only and nothing was mentioned about having to have equity in it. We also dont have to pay rates as we are not living there. The tenant has to pay the rates.
Hope this helps
shelley
Aug 20th 2008, 6:49 am
#10
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Joined: Sep 2004
Location: London - but only until I can afford to move back to Sydney
Posts: 938
Re: Anyone decide to rent their UK house out
I'm renting my place in London out making abour 500gbp profit per month before deducting all allowable expenses (which is going into my vulture fund). Just got new tennants after having the same people for the last 2 years. It ony took 1 week to find them and got a 30gbp per week increase in rent out of them.
