I have a house which I let out.I originally intended to sell and pay off my 18 mth bank loan.But in the current market letting is the only option.I want to sell asap when the market turns.I owe 200k,the house valued at about 650k..What is the most sensible mortgage for a house i have let;?
Most people believe the UK housing market has only just STARTED to drop ...
You may be better off getting out now (and using the cash for other things) - however, even if prices drop 50% over the next 2-3 years you will still have adequate equity in the house to cover the loan, so I guess you can afford to wait the 5-10 years needed for prices to recover again ..
Most people have 'Interest Only' buy-to-let mortgages .. IF the Rent covers the Mortgage repayments twice over you should have no problems getting one ..
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