I have an investment property with a mortgage of £125,000 to pay. With prices the way they are I have it on the market at £119,950 asking price. It's only been up a month and I have had one cheeky offer for £100,000. The property was renting fine until I came to the end of my last tenants contract and that's when I decided to sell.

My reason for selling was that my mortgage rate goes up in September 2009 to the standard rate and I don't think I will have the LTV in the place to get another mortgage. I'm also concerned like everyone that prices will keep going down and then I will really be in negative equity (much more than the figures are already at above).

In order to try and get a quick sale and have the property in show flat condition, plus so I could move quickly, I have not taken any other tenants on so I'm paying the mortgage at the moment.

I feel I have made quite a few bad decisions here and I'm not sure whether to be brave and start renting it out again and plough on until I come out the other end (prices will come full circle at some point in the next 5 years or so). Or keep it on the market, cut my losses and get out now (now being however long it takes to sell).

Thoughs anyone?