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Wanting to move home
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
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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
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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
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