Can't sell? Let it instead

Can't sell your home? Let it until the market turns.

If the offers aren't coming in, letting your home can cover the mortgage while you wait. Budgy compares local letting agents, negotiates the fees and makes sure the agreement won't get in the way when you're ready to sell.

Compare agents near youIs letting right for me?

Free · Nothing goes to an agent without your sign-off

Sell or let?

Letting isn't right for everyone.

Letting buys you time, but it isn't a free pause button. Here's an honest view of when it works.

Letting can make sense if

  • Offers are below what you'd accept
  • The mortgage still needs paying while you wait
  • You'd rather not cut the price to sell quickly
  • You can wait at least a year before selling

Think twice if

  • You need the money from the sale soon
  • You'll need the property empty within a year
  • Your lender won't give consent to let
  • The rent won't cover the mortgage and costs

Before you let

Your home becomes a rental. Here's what changes.

Mortgage & insurance

  • Consent to let, or a buy-to-let mortgage
  • Landlord insurance instead of home insurance
  • Check your lease or freeholder allows letting

Safety

  • Gas safety check every year
  • Electrical safety report every five years
  • EPC rated E or above
  • Smoke and carbon monoxide alarms

Tenancy

  • Reference and Right to Rent checks
  • Written tenancy terms
  • Deposit protected within 30 days

Tax

  • Tell HMRC about your rental income
  • Letting can affect Capital Gains Tax when you sell
  • Keep records of costs you can claim

These rules are for England. Wales, Scotland and Northern Ireland have their own, so check the requirements where your property is.

Selling later

Keep your option to sell.

The Renters' Rights Act changed how tenancies end in England. If you plan to sell, build these rules into your timeline from the start.

Tenancies have no fixed end date

In England, new tenancies roll on month to month. Your tenant can stay until they give notice or you have a legal reason to end it.

You can't sell in the first 12 months

You can end a tenancy because you want to sell, but not in the first year, and you'll need to give four months' notice. Plan your timeline around that.

Or sell with the tenant in place

Some buyers, usually investors, want a property that's already let. A reliable tenant and tidy paperwork make it an easier sale.

How Budgy helps

The right agent, on the right terms. We do the legwork.

  1. Tell us about your home

    The address, what it's like and any agent quotes you already have. Two minutes, no phone calls.

  2. We compare local agents

    Fees, service, compliance and contract terms side by side, including notice periods and tie-ins that matter if you plan to sell.

  3. You choose, we negotiate

    We negotiate the best deal with the agent you pick. Nothing goes to an agent without your sign-off.

Questions

Thinking of letting instead of selling?

Can I rent out my house if I have a residential mortgage?

Usually only with your lender's permission. Ask for consent to let, which some lenders give for a fee or a higher rate, or speak to a broker about a buy-to-let mortgage.

Can I sell my house while a tenant lives there?

Yes. You can sell with the tenant in place to a buyer who wants a let property. If you need it empty, in England you can't use the selling ground in the first 12 months of a tenancy and must give four months' notice.

Will letting my home affect Capital Gains Tax?

It can. If the property was your main home, part of the gain may be covered by relief, but letting it out can mean some tax is due when you sell. It's worth speaking to an accountant before you let.

What should I look for in a letting agent?

Clear fees, client money protection, membership of a redress scheme and a short notice period with no tie-ins. If you might sell, check there are no fees for ending the agreement or selling to your tenant.

Is Budgy available in my area?

Comparing letting agents is open now: enter your property's address on this page and we'll email you a side-by-side report. Negotiating the fee and handling the switch are in private beta, opening area by area, and you can join the waitlist for that from your report.

Free · takes 2 minutes

Thinking of letting? Compare agents first

Type your property's address. We'll check the letting agents nearby on published fees, reviews and client money protection, then email you a side-by-side report, usually within 10 minutes. It's free.

  • Fees
  • Reviews
  • Protections

Nothing goes to an agent without your sign-off.