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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.:
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