Selling A House In Negative Equity - Help!

sarah_1978

Hi, I wonder if somebody could help me. I have a mortgage with Northern Rock on my house which is in negative equity by around £25,000.

I am in a situation now where I want to sell the house but not immediately buy somewhere else.

Therefore am I allowed to do this, and keep paying the mortgage company the extra that I owe each month?

It wouldn't be for long as I am due to receive some inheritance which will cover the outstanding debt, but want to sell my house sooner.

Does anybody know if this is possible?

Thanks for any advice in advance.

brit1234

I thought you have to have equity to sell, may be an excemption if you are downsizing

Cannon_Fodder

Not possible to pay NE monthly. You would need to clear the shortfall in one go.

A personal loan ?

Probate is notoriously difficult to set a time-frame for, so they won't take any potential inheritance into account.