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mortgage advice needed.
jackson1984
Posts: 2 Newbie
Hi i am in need of some mortgage advice.
I bought an apartment in 2007 and got a mortgage with Alliance and Licester.
The mortgage is a plus mortgage as I borrowed £8000 in addition.
I am now in a position where I need to leave the property and would be in negative equity. I have tried to speak to alliance and leciseter to seek a consent to let. However they keep saying that as I have the £8000 on top of this I would not be able to have one.
If I was to pay this off then I would not be able to secure a deposit on another property. Therefore i am currently stuck where i am.
Is there ways of obtaining a consent to let, any advice would be gratefully recieved??
I bought an apartment in 2007 and got a mortgage with Alliance and Licester.
The mortgage is a plus mortgage as I borrowed £8000 in addition.
I am now in a position where I need to leave the property and would be in negative equity. I have tried to speak to alliance and leciseter to seek a consent to let. However they keep saying that as I have the £8000 on top of this I would not be able to have one.
If I was to pay this off then I would not be able to secure a deposit on another property. Therefore i am currently stuck where i am.
Is there ways of obtaining a consent to let, any advice would be gratefully recieved??
0
Comments
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Only A&L/Santander can give consent to let so if they will only give it if you pay off the £8000 then that is what you must do.
If this means that you will not have a deposit for your next property then I would suggest you rent at your new location.
Do you definately NEED to move?I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Thanks for the advice,
unfortunatley i am in a position where i need to move address0
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