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just don't know what to do........
princess_pixie
Posts: 3 Newbie
its all a blooming mess!!
me and hubby have split up and i moved out with 3 kids into private rented place house is up for sale but no viewers and no offers after 4 months well there was one offer but he has a chain to sort first.....agents came today and suggested we sell at 50k less than its up for which is practically giving it away. We are both reluctant to do this as we will end up with about 10k each which aint alot after 15 years.
Northern Rock want 8k over what we borrowed to settle the fixed rate mortage..........8K!!!!!!!
I assume they wont let us rent it and even if we do we have to pay tax on the income so it wont anywhere near cover the mortgage payments.
Any advice from anyone pleeeeease!
me and hubby have split up and i moved out with 3 kids into private rented place house is up for sale but no viewers and no offers after 4 months well there was one offer but he has a chain to sort first.....agents came today and suggested we sell at 50k less than its up for which is practically giving it away. We are both reluctant to do this as we will end up with about 10k each which aint alot after 15 years.
Northern Rock want 8k over what we borrowed to settle the fixed rate mortage..........8K!!!!!!!
I assume they wont let us rent it and even if we do we have to pay tax on the income so it wont anywhere near cover the mortgage payments.
Any advice from anyone pleeeeease!
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Comments
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I'm confused - what did you buy it for and what is it up for? Do you have a rightmove link.
I know its a tough situation but you can only sell something for what people will pay for it. The market is going down at the moment so if you want a better price you may have to wait several years before seeing gains.0 -
Move hubby out (if necessary) Move in with 3 kids, use saved rent plus contribution from hubby to pay mortgage. Wait.This is an open forum, anyone can post and I just did !0
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Pixie , I was in a similar situation to yourself( but much worse if you can believe that), the only option you have besides what you have said is to sell to a property company, I did it, you have to take a hit (30k for me), but in this market you are going to struggle, I came out with 8k, which hurt let me tell you.0
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Pixie if you have Children then you should be entitled to stay in the family home, boot him out! I am afraid that the market the way it is means PRICE is the key factor to selling, and people are generally offering low too.
If you can afford to rent, and want out, I would sell, but research the market well and undercut and hopefully you should sell.Pawpurrs x
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thanks everyone , i appreciate your advice x0
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princess_pixie wrote: »its all a blooming mess!!
agents came today and suggested we sell at 50k less than its up for which is practically giving it away.
Well if you are then please give some figures0
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