reading the later part of this thread it looks like I've been relatively lucky (fingers crossed for no last minute hickups) sale of my old house completes on Friday, got just under asking price and only 8% below the valuation at September 2007, I'll clear an amount I would have been happy with when I put it on the market, especially as it took 8 months to get an offer, lots of buyers but no one in a position to buy. I'm already resigned that l've got no hope of selling my current home at moment for anywhere near the price I paid in sept 2005 I guess it looks like I'll be renting if I get to Australia, (fingers crossed for the visa) at least I'll be Mortgage free so renting current house out should cover the majortiy of any Australian rent, might also give a chance for favorable movement in the exchange rate (Australian dollar currently at a 21 year high against the pound means I'll get shafted two ways if I sell to buy) I'll have a look at selling but I'm not hopeful of A) finding a buyer or getting a good price.
At least I have some room for maneuver from Friday (fingers crossed) as I'll be mortgage free and still have a reasonable amount of free capital, I don't have to pay tax in Australia on UK income and my Uk tax allowance should cover most of the rental income after deductions for agents maintainence etc.
feel very sorry for people who have to sell and have huge mortgages. From what I've heard, the wealthier landlords are putting in offers at anything up to 40% below asking price, win win situation fort hem, they get insulation from the predicted level of price drop, the seller is taking the hit and they have the income from the rental
