Remortgage a shared ownership mortgage

edited 31 December 2010 at 4:25PM in Mortgages & Endowments
ChillibirdChillibird Forumite
3 Posts
edited 31 December 2010 at 4:25PM in Mortgages & Endowments
Hi. Help needed pls. We purchased 40% of our flat (£75000) in 2008. We got a 100% deal with the Leeds at 7.89% fixed fir three years. The last year 2010 has been a real struggle as hubby has been in and out of work and we got into debt by 3k ish with the Leeds and around the same with the housing !!!. Our rent is approximate £480 pm Inc service charge. We were repaying the mortgage but since around July 2010 on an int only( the debt we had with the housing association hasten added to the mortgage). Our outgoings are £1100 ex bills and we are now feeling exhausted. No doubt the service charge will go up again in 2011.
Any advise. Our three year fix ends in july. Options? We really want to just sell up andmove into rented property
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