How can we raise capital to emigrate abroad if our house does not sell?

Posted on 28 January 2008

We are looking to emigrate by July. With the housing market being so slow we are starting to panic. Do you have any suggestions for us if we cannot sell our property by that time?

Mrs Coltherd

Dear Mrs Coltherd,

Yes I'm afraid everything has a price, such is the nature of a free market. When a market is slow, it simply means that the items for sale are too expensive for the demand of that time. So regrettably, my suggestion is to reduce the price, if you cannot somehow increase the value of the item.
 
Your alternative is to rent the property out. A lender will normally let you remortgage to an 85% value of the property, if you need to raise capital out to go abroad with.

Category: Buying abroad

 

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