Have you considered renting rather than selling your property?
Many of our landlords started building their portfolios because they couldn’t achieve the selling price they were looking for or they were looking to property investment as a pension vehicle. So, rather than sell the house they were living in when they moved on, they released some equity from it, rent their current property out and by so doing, started building their property portfolio. There are clear tax advantages in doing this including Mortgage Interest Relief and possible savings in Capital Gains.
If the current trends continue 1 in 5 for us will be in the Private Rental Sector (PRS) by the end of the decade. There is currently a shortfall in housing available for the PRS and it is generally considered that new landlords coming into the market will meet this shortfall. It may well be that you could meet that growing need.
If you would like further information regarding this, please contact your local Sales Manager today.