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Letting to Buy

In recent years an increasing number of people have been letting (rather than selling) their family home in order to fund their next move; let to buy rather than buy-to-let. If you plan to do this you must ensure that your home meets the necessary requirements for letting and that the rent you can achieve is at least 130 per cent of your mortgage payments. You should consider re-mortgaging to free equity for a deposit on your next home.

Capital gains tax is payable when you sell if you’ve let a property for three years.

© Survival Books Limited 2005

“Buying, Selling & Letting Property” 2nd Edition, David Hampshire.
Reproduced with the permission of Survival Books Limited.

Further information on this topic can be found in “Buying, Selling & Letting Property” 2nd edition, by David Hampshire.

For extensive, annually updated information about buying, selling and letting property, you can purchase this book at www.survivalbooks.net


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