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selling house in negative equity

carlos1986
carlos1986 Posts: 3 Newbie
in Mortgages & endowments
hi

i have a house which is in negative equatiy but i am desperate to of load it so that i can peruse a career abroad.

the house is in around 8% negative equity(5k) and i want to off load it ASAP. i have a mortgage with Santander, what is the liley hood they will let me sell it with negative equity and then pay them the rest back?

Also, i would prfer to do this with out unsecured loans and just as an agreement.

Thanks

Comments

  • beecher2
    beecher2 Posts: 3,677 Forumite
    Tenth Anniversary 1,000 Posts Combo Breaker
    Phone them up and ask them what the procedure would be.
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    carlos1986 wrote: »
    Also, i would prfer to do this with out unsecured loans and just as an agreement.

    How do you propose that would work then?

    Them: Do you promise you'll pay us the 5k back?
    You: Yeah course I will
    Them: Are you really really sure?
    You: Honest I promise I will
    Them: OK then!
  • handytips
    handytips Posts: 372 Forumite
    To achieve the sale of the property you will have to make up the difference including any fee's, estate agents fee, solicitors fee plus the excess in your case £5k to achieve your aim.
    That is it really, i really do not know why you would think that any lending institution would allow you to do otherwise !
    I am a Mortgage Advisor. You should note that this site does not check my status as a Mortgage adviser, so you need to take my word for it. This signature is here as i follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldnt be seen as financial advice.

  • Dick_here
    Dick_here Posts: 1,605 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    carlos1986 wrote: »
    hi

    i have a house which is in negative equatiy but i am desperate to of load it so that i can peruse a career abroad.

    You can think about it whether you have a house with negative equity or not.
    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 ForumTeam
  • Chin
    Chin Posts: 146 Forumite
    Why not just rent it out whilst you are abroad?
  • InMyDreams
    InMyDreams Posts: 902 Forumite
    Part of the Furniture 500 Posts Name Dropper
    carlos1986 wrote: »
    hi

    Also, i would prfer to do this with out unsecured loans and just as an agreement.

    Thanks

    What is a loan if it is not an agreement to pay someone money that you owe them?
This discussion has been closed.
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