Help Please buy to let mortage

sherbert72

Ok so to be blunt I got royally shafted on my original buy to let mortage which was fixed for two years. That ended and with the market collapse I am on the standard variable rate. My rent doesn't equate to half the mortgage payments and I am managing just. With no to little buy to let on the market, and with the flat in negative equity due to repos I am absolutely worried sick about what to do. the stress is affecting my auto immune disease, which then affects my ability to work and pay! Viscious circle. I have some money which will reduce some of the mortage which I hoped would affect the payments and let me start to pay off some capital as its interest only. Because loan to value still won't be met, I'm stuck in this horrible position. Anyone got any advice, suggestions. The original mortage lender is laughing protecting its investors and doing nothing to help genuine people who are trying to make payments and offer realistic lending rates.

_Andy_

Sell up...

Thrugelmir

_Andy_ wrote: »

Sell up...

Totally agree.

Take it on the chin that you took a gamble and lost.

Conrad

Sell up and go bankrupt is what I would do - my brother walked away from £60k debt without any advserse consequences - dont listen to those daily mail doom mongers that will tell you bancruptcy is a no no.

Ok so you will not be able to borrow for a while - big deal.

Trollfever

A failed business venture. Cut your losses.