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I was 80% of the way through refurbishing my house with a view to moving, when three things happened. First, I got a promotion (nice money, but now too busy to finish the DIY), then the finance market problems started, and finally my girlfriend's family connections got us a chance to buy a nicer house at what seems a stonkingly good price, even in the current market. So, given the state of the market, I'd much prefer to rent my old house out until things stabilise (note "stabilise", not "recover"; I'm a realist ;-)).
But to raise a 25% deposit on the new house to get a good mortgage deal without selling the old one I'll have to suck my saving accounts pretty dry, and selling my investments (share based PEPs & ISAs) would have to be a last resort right now. A few K stuck in Icesave limbo didn't help, but that's my own fault, I guess.
So I haven't got enough spare to pay decorators to finish the job, but I guess I must be able to find the time somewhere to DIY, even if it means working very long hours. But my day job is demanding, and I can't be dealing with tenants, broken washing machines, CORGI certification, and all the other joys of real landlording.
So what I'd like in an ideal world is to hand the thing over to someone for (say) a couple of years, and in exchange for them guaranteeing the rent and eventual handback in equivalent condition, I'd accept a lower rent than I could get if I did all the hard work myself. If they'd finish the decorating for me at a reasonable cost and take that back via deduction from the rent, that'd be even sweeter.
Are there any good (e.g. not leveraged to heck and about to fold, or solvent but downright dodgy) organisations out there that do that sort of thing? Any recommendations for alternative solutions I might not have thought of?
Ta,
Bob.
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