Q I bought my first house last year for £240,000. However, my personal circumstances have changed and I have been thinking about looking for a new job. I work in a niche industry where vacancies don’t arise too often and I would probably have to relocate if I changed employer.
Given the current talk of recession, I’m terrified that if I find a new job later this year or next year, my house value will have fallen. If I let it out, the rent would just cover the mortgage and the tax to pay would be quite hefty. Should I sell now and move into rented accommodation with the view to moving in the next year or so to avoid falling into negative equity?
AN
