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That was kind of the plan before, AirBnB the flat for 2yrs, buy new place, sell flat, reclaim duty, remortgage, but I did the sums and it's too risky, would only bring in about £3k net a year IF interest rates didn't go up and house prices didn't fall. The other downside of that is we'd have a higher LtV on the new place (and lower budget) which I assume would mean we might not get as good a deal (does this still apply over 25%?)
@chrisbmx116 that would be ideal, but as Howard says, I think we'd need a miracle to land a short term rental at the right time. That said, I did see a newly listed airbnb at a very decent price. Maybe if we had nowhere to live the OH might be able to stomach moving in with mum for a bit!
Cheers for clarifying all.
Polygon
NotThamesWater
Unless you can suck up a double mortgage for a while and have the readies for the deposit and extra 3% SDLT