Selling in England....?

[half a dozen]

Hi, can anyone in the UK tell me how the housing market is doing? Our house is rented over there and the current lease comes to an end this September. The tenants seem to be very happy there and by all accounts will want to extend their lease for another 12 months. We don't know whether to rent it out again or try and sell as we have bought here and have a very large mortgage. Trouble is the exchange rate is so bad that we probably wouldn't exchange yet anyway but at least we could be rid of our UK mortgage and the hassle of renting from the other side of the world. If the market is not going to move much more over the next 12 months we feel we would be better off selling now and rid ourselves of the UK commitment. A crystal ball would be handy!

[gary12]

We too have a house in the UK. Our tenants have just signed up for another year, we ditched the agent and have changed the mortgage to an interest only buy to let and so now finally making some money on the house (money banked in the UK incase of repairs). We decided that it wasn't the right time to sell, although from what I understand the market has picked up. The new government budget is announced next week which may be another factor in you deciding to sell. We too have a large but manageable mortgage here and as you say the exchange rate is not brilliant (who knows which way it will be in 12 months?) so for us it was a double hit. I think anything will pretty much sell it's just what you are prepared to let your house go for.

www.housepricesco.uk is a good site to view what properties in both your street/road and area have sold for in the last 5 years or so.

Seems that lending is up ?? http://news.sky.com/skynews/Home/Bus...rtgage_Lenders


It's a tough call but for us, for now we are sticking with renting. best of luck
Michelle