I am in a bit of a quandary and wouldn't mind hearing the thoughts of a few of the clever people on this site.
I currently live (with wife and kids) in a small inherited flat, too small for the family but a nice safety net. We are trying to buy a larger property (yes I know its a bad time to be doing this but we are far too cramped) and we have sale agreed on the flat for a good price - buyer is a investor/landlord.
But we can't find anywhere to move to (mainly due to the unrealistic prices people are currently marketing their properties at in my local area) and we are now in danger of losing the sale.
The option has been put forward to sell the flat and rent back from LL. I really don't know if this is a good idea, where would I put the cash and am I wise to let go of my families safety net in these uncertain times?
Any thoughts would be appreciated.