{"id":133755,"date":"2023-01-16T14:00:36","date_gmt":"2023-01-16T07:00:36","guid":{"rendered":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/would-it-be-reckless-to-sell-my-house-in-leeds-and-return-to-renting\/"},"modified":"2023-01-16T14:11:21","modified_gmt":"2023-01-16T07:11:21","slug":"would-it-be-reckless-to-sell-my-house-in-leeds-and-return-to-renting","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/would-it-be-reckless-to-sell-my-house-in-leeds-and-return-to-renting\/","title":{"rendered":"Would it be reckless to sell my house in Leeds and return to renting?"},"content":{"rendered":"


\nI am considering going freelance and moving but know it would affect a mortgage applicationQ After many years of working at the same job in Leeds, I am considering going freelance and moving to a new city. I\u2019ve been craving change for a long time and this feels like a challenge I need. It seems, however, in doing so I will have to say goodbye to being a homeowner and return once more to renting. My current fixed-term mortgage ends in November this year. As I understand it, a freelancer needs two to three years of income history before they can apply for a mortgage. Is this the case and am I being reckless selling a house that I worked so hard to buy and going back to renting during a cost of living crisis when rent is so high? Any thoughts or advice would be extremely appreciated. RWA Yes, you are right in thinking that any self-employed person \u2013 which includes freelancers, contractors, sole traders and small-business owners \u2013 applying for a mortgage will need to provide at least two years\u2019 evidence of a regular income with account statements as well as self-assessment tax forms for two complete tax years, if not three. So that would rule out getting a mortgage if you decided to sell up in Leeds and move to a new city, and it would also mean that you would have to go back to renting. Continue reading…
\n
\nSource : theguardian.com
\nRead more…Would it be reckless to sell my house in Leeds and return to renting?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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