we need to move! negative equity :(

SandC

Switching to repayment is not a new mortgage, your lender will probably be delighted for you to do so as you can start paying off the loan that way.

Give them a call and ask them what the payments would be.

As for laws of girls and boys sharing - no such thing. Anyway, you have no choice and it really is better to try and get that negative equity into a positive by paying the mortgage. Bankruptcy is an absolute last resort. If you are struggling to pay this mortgage then you will struggle on the rent or a mortgage on a bigger house.

pinkteapot

The first thing to do is to work out how much you would need to move. You say you have £16k negative equity. Add to that solicitor costs for selling (I sold a leasehold flat and seem to remember paying around £600 a couple of years ago), EA fee for selling (budget 1.5% of sale price), removal costs (van hire or removal company) and up-front costs of renting (deposit, first month's rent, any application fees the letting agency charges).

That will tell you the amount you need in the bank to be able to move. Could you get a loan for that amount, either from a lender or from friends/family?

If not, then moving isn't an option unless you move in with family/friends and leave the flat empty.

How big are the bedrooms? A friend has a two bedroom house and two children. They have the larger bedroom and she uses the smaller one for herself. Her boyfriend is putting up a basic partition wall to split the master bedroom in two. This is unlikely to be permitted in a leasehold flat, but is the larger bedroom big enough to divide in two with a screen or even just a big curtain hanging from the ceiling?

How old are the kids? My brother and I shared a room until we were 7 and 4...

Also good advice to read the Debt-Free Wannabe board and post your SOA (statement of affairs - there's instructions over there for how to do it). You'll get good advice on anywhere you can make cut-backs.

Esoog

there’s no law in existence which governs children of different sexes sharing rooms in privately owned homes. It’s up to the home owners/parents to sort out bedrooms and sleeping areas and make sure all children are well catered for in terms of sleeping arrangements. Many children share bedrooms with their siblings and step- brothers and sisters and don’t experience any problems (bar the occasional fall-out, as is normal with children!). If there was a law in place, it could be very difficult for people who are unable to buy a bigger home due to lack of money.
However, if the house is rented and owned by a housing association, sometimes they do have rules and regulations in place concerned with how many children, and which sex of children, can sleep in any one bedroom. For example, they may state that after the age of 10, different sexes of siblings shouldn’t share a room. If this applies in this instance, then it would be best to contact the relevant housing association for information and to discuss the circumstances.

^^ ..........