We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
How much equity do I have?
woozyboo
Posts: 5 Forumite
Hi - I'm super confused!!
My partner and I have just sold our share in our shared ownership property for £75K.
We owe £41K on our current mortgage with Santander.
We can port this mortgage to buy a new property.
This is where i'm struggling -
If we are porting do we pay Santander £41K from the money paid on our share leaving us with £34K for a deposit or do we keep the £75K?
My brain is doing cartwheels as this is beyond it's capacity! Please help!
Thanks.:
My partner and I have just sold our share in our shared ownership property for £75K.
We owe £41K on our current mortgage with Santander.
We can port this mortgage to buy a new property.
This is where i'm struggling -
If we are porting do we pay Santander £41K from the money paid on our share leaving us with £34K for a deposit or do we keep the £75K?
My brain is doing cartwheels as this is beyond it's capacity! Please help!
Thanks.:
0
Comments
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.5K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards