Shared Mortgage and a flat in negative equity.

ljs1981_2

My partner and i currently have 2 properties between us and are trying to decide how best to move forward. He currently has half a mortgage with a housemate ( approc 95k each originally) when they bought the house for £190k. They balance is now £183k. We recently had the house valued - it is worth approx £205k so has actually gone up in value. I have a flat, currently in negative equity by approk 15k so can't sell just yet. If my flat is rented, it would cover the mortgage - therefore i am keen to move to his, slightly larger house. We are both teachers earning well in full time permanent jobs - no children and no real financial commitments. We ideally want to buy out his housemate which we have the cash to do, but can't find a mortgage provider who will finance the deal. We have no more cash to put into the mortgage or make lump sum payments with. Most mortage companies are asking for approx 30k cash from us to agree a deal! We have never missed mortgage payments and both have good credit history.

Has anyone had any positive experience this year in securing a sensible LTV? We've tried Standard Life who he currently has his mortgage with - no luck.

Grateful to here any advice.

Thanks

_Andy_

With the high LTVs it's not going to happen I'm afraid.

beecher2

Why not sell the house, split the proceeds, and start saving for a deposit, or to pay off your negative equity. If you've both got good jobs, put every spare penny into saving up and it shouldn't take too long. Other forums on here can help you.