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Transfer mortgage

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I'm in a real mess and starting to panic. I have a house which is in negative equity. I have been struggling with money but always kept up my payments. I've now been offered a job 200 miles away which is great money but I would obviously have to rent somewhere and ideally rent out my current house, though as it's in negative equity I'm concerned this will rejected my my mortgage lender. It has also been suggested I would I be able to transfer my mortgage to a new house near my new job but I'm
Not convinced this is possible. Advice needed please?

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  • Charco_2
    Charco_2 Posts: 1,677 Forumite
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    It's possible but not terribly likely. Lenders used to to do this handy enough but with less and less available deals I would be surprised if this was a viable option.

    Negative equity was a huge buzzword in the media 12-18months ago but it was effectively meaningless except for circumstances like this where moving is necessary.

    How long is left on your current mortgage deal? (or have you already moved to standard rates?)
    How much negative equity?

    You could try speaking to your lender (or broker if you used one) to discuss the options available (probably limited)... you wont know the options until your ask.

    Then if there are no options, you could always not tell your lender that you are moving as long as you maintain your repayments!
    Would you ask the wolves to look after the sheep?
    CCCS funded by banks
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