brexit

Don’t Let Brexit Stop You Moving House

Posted on Posted in Finance News

When It’s Time To Move On, Don’t Let Politics Hold You Back

A feasible solution for those who want to move house but have become trapped by a sluggish sales period in the post-Brexit property industry.

Whether you need to relocate due to a change in job, are getting married, divorced or are simply outgrowing your existing family home, there are many scenarios in which your personal circumstances need to be prioritised ahead of what’s going on in the political world. The aftermath of Brexit has left the property market in a bit of a slump, with sluggish sales activity being reported consistently during the months that have followed since the vote to leave Europe in June 2016. But there is a solution in which you can remain unaffected by politics and move house if the time is right for you.

Rent Out Your Home

If you’ve been finding it hard to sell your home due to a lack of buyers, then why not capitalise on the increase in rental activity? If your current home is located in an area with a strong and steady market such as London and the South-East, then this is a great option. You’ll have no shortage of potential tenants who are interested in moving into your property, and at the same time the chances are that your home will rise in value over the long-term even if there is a current dip.

Talking To Your Mortgage Company

Before signing a tenancy agreement on the dotted line, you will need to speak to your mortgage company to find out whether your specific lending product allows you to let out your home. Some may allow you to rent it for up to a year, while others have a clause which permits you letting your property out so long as you’re intending on returning at some point. However, in many cases the mortgage company may require you to switch to one of their Buy-to-Let mortgages.

Becoming A Landlord

If you’re welcoming tenants into your home, then this puts you in the starring role of ‘landlord’. Some landlords relish this job and like to take a hands-on approach, meeting and vetting the tenants themselves and visiting the property regularly to deal with any issues such as a faulty boiler. However, there are many others who consider the responsibilities of a landlord to be a headache. For the majority, a property management service is an excellent alternative, where you can be sure that you’ve left your home in good hands – you will be kept fully informed about any issues at your property, but all will be taken care of by a team of rental professionals.

Becoming A Tenant

Of course, the question is, where will you live once you’ve been displaced from your current home? The answer being, you can rent a property of your own in whatever location is best for you – whether it’s within a specific school catchment area, nearer to your new place of work or just in a more appealing neighbourhood. By choosing to rent, you can open up the opportunity of living in a wider range of properties that are perhaps larger, with extra bedrooms, a bigger garden and that simply offers more than your current accommodation.

If you want added stability and would prefer to commit to an accommodation rental for at least a couple of years, then many landlords are happy with the promise of guaranteed income and are often willing to negotiate a lengthier term where appropriate for both parties.

If you feel that moving out and renting a new home is the right solution for you, then be sure to consult with the best services in property management Chelmsford has to offer. You’ll find it easy to let out your home while moving on to bigger and better places in post-Brexit times.

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