We have had an offer above the asking price and accepted within 3 days of listing the property. The trouble is one if is has a poor credit score that unfortunately means that at least for the next year we won't be able to get a mortgage! (Our plan was to use the help to buy scheme on a new build) after accepting the offer we tried and were declined on a mortgage. Do we still sell our home put the profit in the bank and hold out until we can mortgage a new property? Should we rent it out and make some money while we rent a larger property? Or should we stay and save but run the risk of not selling our property in the future once we are eligible for a mortgage?
Out mortgage is roughly £450/cm
Rental of new property £650/cm
To let our property we should receive £525/cm
Thank you in advance.
Read more: Should I sell, let it out or live in my house?
