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Can I sell my BTL with Tenants in the property?


d2ltnh

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Dear Property Forum, 

I have a property, un-mortgaged, no chain and used to be our primary house. 

However, we've now rented it for 2 years to good tenants who have asked whether they can extend for a further 2 years. The yield on the property is 4.5% on a value of £700k. Is there a market for selling tenanted properties of this value, and if there is how do I access it?  

Or, do I keep the property tenanted and incur capital gains in the future upon selling? 

My preference as it stands is to sell the property without capital gains.  

Any help and advice would be most appreciated! 

Thank you, 

Dalton 

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At that value the rent isnt going to work for a new BTL purchase at 75%. So limiting yourself to landlords isnt a good idea. The vast majority of people buying at £700k will be doing so as home movers for residential purposes and for that they will want to see vacant possession.

043_logo_final_03.png.0cdf828351f81e6097208048ac2d018d.pngStuart Phillips

Independent, Whole of Market Mortgage Broker

AALTO Mortgages Ltd

Web  www.aaltomortgages.com

Email  sales@aaltomortgages.com

Call  020 7183 1101

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As a general point yes you can sell tenanted property. I have just had an offer accepted on such a property as a buyer. If the property is not to be sold with vacant possession then you will narrow your potential buyers down to investors who will likely want a good price. This will possibly be offset slightly by the fact that you will keep getting paid rent up until the point of sale. There is a company with a a website who specialise in tenanted sales. I have watched some tenanted stock do well in auctions recently too although this was higher yield than you are describing. 

David M Slater ACMA 

Accufy Accounting  - Proactive accounting for property investors 

0208 242 4926    info@accufy.uk

 

 

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