Removing Ex off mortgage Need Help!!

angeljay

Estimate is £78665 for the house now!!!!!

angeljay

I cant afford to sell the house, pay the fees for the sale, pay the fees for moving, then deal with rent for a decent place, then pay an unsecured loan as well!!! I understand what you mean but if I sell I believe I will be in a much worse place then i am!

I have looked at quick sale companies, buy and rent back, I think I have looked at everything.

Mrs_Bumble

I think you need to look at other income streams then, seriously look into renting a room out etc.

Buy and rent back is a very bad idea.

Good luck

DD2_2

Did you spend the full £26k on renovations? If you did, then the zoopla quote might be on the low side - as I keep saying, get an estate agent in for a more accurate valuation.

Once you have this value, you will have an idea about your options. Also do what Mrs Bumble advises and contact NRock to see what your current mortgage rate is. Try and get onto a cheaper product with them if possible. While you're on the phone to them, I'd also check what your mortgage is. You've said that it was originally £84k, but you now think that it's 'about £74k. With only 3 years of living in the property, unless you did some major overpayments, I can't see how the mortgage debt has dropped £10k in such a short time. Better to know exactly what you owe than to guess.

angeljay

The house was purchased for 84K the secured part is about 74500 the unsecured was to make it all up to 100K. Furniture was bought, new kitchen, damp proofing new flooring etc all part of the extra 16K. The plastering, redecorating.

angeljay

Mortgage rate is 4.79%.