We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Wanting to move home
Options
Ashlou88_2
Posts: 5 Forumite
Hi,
my partner and I have saw a property we would like to move to, we currently have a mortgage with Northern Rock, we took out a 100% mortgage of 100k in 2007 (100k house value) the property we've seen is 129k, I think we may be in negative equity now as the average estimate house value price we've had is 90k (probably be less) we also have a DMP. We wouldn't have a lot of money to put down as a deposit.
Info on this would be great as we're not quite sure how these things work or even if we could do it!
my partner and I have saw a property we would like to move to, we currently have a mortgage with Northern Rock, we took out a 100% mortgage of 100k in 2007 (100k house value) the property we've seen is 129k, I think we may be in negative equity now as the average estimate house value price we've had is 90k (probably be less) we also have a DMP. We wouldn't have a lot of money to put down as a deposit.
Info on this would be great as we're not quite sure how these things work or even if we could do it!
0
Comments
-
Not a hope in hell is the only possible answer (and that's "as nice" as it gets I'm afraid) !Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
-
You have no chance of moving I'm afraid. If you had perfect credit you'd need 13k deposit as a minimum, plus fees, plus over 10k to pay off your negative equity. The DMP just makes things more impossible I'm afraid. You need to put off plans to move to a more expensive place as it just isn't realistic at all.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 350.8K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.5K Spending & Discounts
- 243.8K Work, Benefits & Business
- 598.7K Mortgages, Homes & Bills
- 176.8K Life & Family
- 257.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards