Help I cant sell my House

Jonbvn

The figures just don't stack up. The rental costs are far higher than the repayment costs on a 177k mortgage. You clearly are not giving us the whole story, or you are a troll?

reidy101

Can someone please tell me what a troll is? I am new to this, several post have said things about troll??????????????

the reason the figures dont add up:
1) we cannot afford to pay £1,250 pm on our mortgage as well as all other household bills, we have made many cut back, living on basics of everything.

2) we want to sell, use some of the equity we have to rent for 2 years, invest the rest.

3) rental costs are high in our area, we need to stay local because of childrens school.

please no more sarky comments, all I wanted was a bit of advice on what direction to take next, wish i not bothered now, as people seem to want to put me down.

benood

No houses for that price on either primelocation or rightmove in BR4..........perhaps you need a better estate agent.

moneysavinmonkey

you have two options:

1) Make cut backs + find ways to make extra money so you can afford your mortgage. You do not say why you can no longer afford it so perhaps if you give more detail people can offer better advice

2)Drop the price of your house, and keep dropping it until it sells. Even if you have to make substantial cuts it will still make you more money than gong down the repossession route. You have 100k of equity so you are in a far better position than most that come on here.

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a troll is someone who posts on a internet forum to wind people up - perhaps inventing a fictional scenario or persona. I think some have questioned whether this is what you are up to as some parts of your story seem unlikely... e.g. a) your rental estimate seem very high compared with your mortgage (but I think this doesn't take into account the equity you have) + b) you seem to expect you current house to pay your rent for two years - don't you have any income?? c) you have such a large amount of equity (many posting on here do not have that luxury - try reading through some of the other help i need to sell threads) that it doesn't really seem that you need our help d) you haven't really given us many details about yourself so your situation doesn't come across as being real - e.g. why can't you afford your mortgage- presumably you could when you took it out? Why won't you drop the price anymore?

lostinrates

SquatNow wrote: »

Are you planning to rent buckingham palace?

TBF SquatNow, I almost went to look at a studio flat with some land in Wilts for £1100 pcm this week.

dreamalittle

Is it this place?

http://www.rightmove.co.uk/viewdetails-19993901.rsp?pa_n=3&tr_t=buy

LittleMissAspie

Goodness me, I am from the next road along!

Search Rightmove, there are several 2+ beds in West Wickham for under 1300 a month.

Failing that you might want to think about relocating entirely. You are pretty much in the most expensive part of the country, barring central London. I couldn't afford to live there. It might be upheaval for the children but it's better than growing up under the stress of money worries.

Edit: You could drop the price to 213 and still have enough to pay your rent outright for 2 years.

wanttosell

Can you help us help you?
Answer the outstanding questions,and put a link up to your property?

Running_Horse

I suggest you post here:

http://forums.moneysavingexpert.com/forumdisplay.html?f=76

Good advice from others who have been there.

briona

reidy101 wrote: »

we cannot afford to pay £1,250 pm on our mortgage as well as all other household bills, we have made many cut back, living on basics of everything.

we need to stay local because of childrens school.

I'm not trying to put you down or have a go at you, but seriously if you can't afford to pay £1,250pm on your mortgage and all the bills, then how are you going to afford £1,300pm (or more) on rent?! I assume you're aware that you still have to pay all other household bills when you rent?

Obviously if you manage to sell (for a reasonable price), you'll have the money in your account to cover the rent/bills, but it will leave very little to invest... and after 2-3 years of renting, I think you'd be back in the same position, albeit in rented rather than mortgaged property.

There MUST be somewhere cheaper that is still within the catchment area for your kids' schools that you can rent... Your kids aren't in private school by any chance are they?