Sell or rent?!

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Alex2015
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My husband and I are currently deciding on whether we should sell or rent out our current house.

We are in the process of buying another house where we need 20% deposit to purchase (we have this available without selling).

Our current home was re-mortgaged in Jan 15 on a 3 yr fix deal at 3.14% at 85% LTV.

The mortgage payments are 1528 per month and would go up to 1728 if we decide to let it out (on a consent to let basis).

The rental would not cover this amount and would probably come in at around the 1600 PCM.

The value of our home has gone up and we could potentially sell for 135k over the value at time of re-mortgage.

This means we could potentially extract a further 184k post a sale.

We need some help on whether we should sell or rent it out. Both properties (current and new) are in London and close to each other.

Our concerns are:

- What would happen after the 3 year deal comes to an end and would we need to put in more capital to keep it?
- Is it better to keep a house in London in a great location and street as the capital appreciation could see the values go up?
06/11/2015 14:02

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