Can't sell it? Why not Let it!

Anyone trying to sell a property right now will be aware that the sales market has slowed considerably, with buyers reluctant to pay full asking prices and many waiting to see what will happen to house prices and interest rates. Unless sellers are willing to drop their asking prices, they could be stuck for some time trying to get a sale.

There is another option - one that could not only enable you to move home when you are ready, but will also provide an income and allow you to delay your sale until a more favourable sales market. That option is letting.

Demand for rental property is stronger than ever. The property can be let for six months, or longer if it suits, until the sales market improves, and in the meantime provide a useful income. This applies equally to landlords trying to sell an investment property. An empty property is a waste of potential income and it is always preferable to have it occupied during the winter months.

You may think that you simply won't be able to raise two mortgages but many mortgage lenders offer 'Let To Buy' mortgages, an alternative to the well-known 'Buy To Let' option, which allows you to borrow money to buy a new home to move into, while your existing residence is let out to tenants.

Many of our clients have taken this route in the past and have gone on to retain the investment property indefinitely as a part of their retirement plan.

Why wait around for the sales market to improve like everyone else? Contact your nearest Linley and Simpson branch to find out more and to arrange a free rental appraisal and valuation with no obligation whatsoever.