Property Solutions to Sell Your House Fast For Market Value
As a first time buyer it’s possible to get a buy to let mortgage, but your options will be very limited. Most lenders consider the risk that first time buyers will want to live in the property for themselves. Those that will lend to first time buyers will limit the buy to let lending to a multiple of earnings.
You are much better selling your house and renting before buying again as this reduces stress and puts you in a stronger buying position for your new home. Whilst renting before buying again means you have to move twice, the double move is worth it in the end.
If you feel you need to you should view a property again before contracts are exchange because this is your last chance before you are legally committed to buy. Not everyone does a pre-exchange visit, but it’s a good idea for checking that all is still okay with the property before you fully commit.
What is acceptable as an offer in the region of depends on what the property is worth to you, how much the seller is willing to accept and how long the property has been on the market. Always bear in mind that the list price of any house is not its valuation, but is a guide price only.
You can rent out your house without a buy to let mortgage but you need to tell your lender and get a consent to let the property. Whilst it’s not illegal if you don’t get consent to let you will be in breach of your mortgage terms and the lender could withdraw the loan so you have to repay in full.
The amount you keep when you sell your house is after deducting estate agent commission and conveyancing fees, what you owe on your mortgage plus a few other expense like the cost of an EPC.
