Trust deed - mortgage & emigrating - help

rockjock

Hi guys,

Looking for some guidance if possible. My wife and I are about to finish our trust deed in Oct. The problem we have is we are moving to Australia in November (visas all stamped and ready to go), however, have a shortfall in our mortgage of around £20,000.

I've spoken to our Trust Deed advisor and our only options seem to be:

- selling the house (assuming we get it sold, which is doudtful) and paying the shortfall which will take us an eternity

- handing the keys back, which will result in the bank selling at much lower price so an even bigger shortfall to cover

- renting, which isn't a great option as the rent wouldn't be enough to cover the mortgage payments

I'm really looking and hoping for any other options anyone can possibly provide that won't involve our bank or employers in Australia finding out about our situation.

Many thanks

RJ