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Tuesday, April 19, 2011

Rent to move

Stagnant property sales has created a trend for homeowners in London and the South East 'to rent to move' instead of 'selling to buy'.

ARLA have reported an increase of higher value properties hitting the rental market as many homeowners see that renting out their existing property to enable them to move to an alternative rental property is easier than selling and buying.

Following this trend the banks and building societies are looking to hit these 'musical chair artists' with big fees or forcing them to move to expensive buy-to-let deals, or pay a higher interest rate.

What is a homeowner supposed to do?

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