HSBC The Worlds Local Unhelpful Bank

RichAnd_2

I'll disregard Mr.Harshes comments yet again, would have appreciated constructive advice rather than criticism, the property has been greatly reudced in asking price and the offer of stamp duty contribution included, so pro-active yes, not playing chicken with them.

Thank you Mac & Thrug, the positive advice will be taken and the asking price again reduced after consulting with the estate agent as to what will secure a quick sale, regards.

dippy

Have you had any offers at all or viewings? I believe you would be in a better position with HSBC if you can show you're closer to selling the house.

For all they know, you could be setting an unrealistic price and hoping to live in the house on interest only as long as possible.

If push comes to shove, you can always sell at auction. It'll be better for you than getting the house repoed.

RichAnd_2

Some viewings no offers Dippy, have reduced asking price and offered stamp duty contribution so there is effort being made and want to sell so can move on. Not interested in staying there for a long time but also do not want to default, further reduction early next week I think. One thing I cannot understand is there are 000's of people on interest only mortgages out there and this is all I require until sale is achieved, not charity or a payment holiday, etc.

dippy

New rules on interest only are due to the credit crunch and a move towards "responsible lending" by the banks. It's supposed to ensure that the debt is being paid down and people will be less affected by interest rises/house price falls in the future.

As to your selling problems, we're past the "spring boom" now and we're soon going to be past the pre-christmas window (people want to be in their new homes by christmas). After that you'll have to wait for the next spring boom.

Outside of these two "windows", it'll be harder to get a good price.