Want to sell up and move to US but will i get out of my 3 mortgages?

tabskitten

Ok i would be really thankful for some advice:

I have 3 properties, two which have been renting out and 1 we live in, we have decided to move to the states and i want to sell up in this country but i am very confused as to what happens should i sell, i.e if i terminate the mortgage early i think i get charged is this right?
looking through the paperwork it looks like this.....
1. In Tidworth, empty at present ,BIM mortgage and early termination charge I think is past- am putting on market.
2. In Bristol, rented out but i want to sell it BiM mortgage if I terminate early stand to be charged £3850 but still really want to sell it, although only just out of -ve equity!
3. Near Manchester , took out mortgage may last year and stand to be charged £7614 if terminate early

So is there any way that I can not pay these charges as it is the difference between being able to sell the properties or not as i am only just out of -ve equity as it is.......

Dan_1976

If you pay the mortgages off within the tie in or erc period you have to pay the charge. You signed to agree this so no way out.

You either wait it out or pay the charge.

I am not sure about BIM, but if your lucky they are one of the lenders that need cash and may come to a deal, but I doubt it!

Good luck

tabskitten

So you think it may be worth asking then?
Ah well - if you dont ask you dont get ....

am not entirely sure what i am asking for through?!

A waiver on the early termination fee?

diable

The properties that you rent out may in cure capital gains tax.I would speak to an accountant for your best options as it may be better to sell the main property then register the second one as your main residence then sell it later on.

Hopefully someone with more experience will post up better advice.