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mortgage help- house worth less than paid
Comments
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Dont forget solicitors fees, surveys and stamp duty for buying too.0
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In the current climate you may find it difficult to find a mortgage lender who is prepared to accept a loan from parents as a deposit.
They would normally require it to be a gift.0 -
the mortgage company think it is a gift not a problem there, we could probably reduce the amount we borrow from our parents and pay them back at a later date....
in the meantime we're going to rent this property out and rent another (moving 3 hours away so kind of like a trial period) then in a years time we'll put our house on the market, hopefully things won't be so dire then.
thanks for your comments0 -
can you not port your parents loan as well as the mortgage to the new house ie say to them well pay you back from the sale of the new house?0
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