Any advice re nram, house selling stuck !!

somberfate

Ok looking for any pearls of wisdom, my house is for sale has been for 6 yrs, was valued by them at £72 k , my mortgage was £56k ...

reduced the amount i wanted to £59k to see if it helps move it along.

New estate agents wont even put it on , as they reckon it is now not worth even £59k....

I currently out of work, 3 kids under 3, nram wont offer any help in reducing the monthy payment (£400) only tell me if i sale il be responsible for the short fall. or if i hand it back to them il be responsible for the short fall.......

Cant remortgage with a diff company as i dont have a job, so am currently on a varitable rate of repayment ...

anyone have any ideas... ive heard i can have a guarentor to come on the mortgage with me ????

Soot2006

ive heard i can have a guarentor to come on the mortgage with me ????

What are you hoping to achieve?
As in what's your ideal future outcome?

somberfate

If i was to have a guarentor come on, id want to remortgage and move away from nram-northern rock alltogether they have been nothing but hassle since day 1...

to reduce the amount im paying even if i have to retake the term back over 25 years...just to cut the payments to some thing im not struggling to find

somberfate

Plus ideal future outcome, to sell the house not looking to walk away with anything , but also dont want to end up still owing once it's gone .

TrickyDicky101

You are out of work so even with a guarantor on board (if one could be found), I highly doubt you would secure a remortgage elsewhere.

somberfate

Ok thanks for the replies, so seems im stuck in a endless situation

barrowc

somberfate wrote: »

New estate agents wont even put it on , as they reckon it is now not worth even £59k...

What did they reckon it was worth?

opinions4u

I currently out of work, 3 kids under 3, nram wont offer any help ... only tell me if i sale il be responsible for the short fall. or if i hand it back to them il be responsible for the short fall.......

Who should be responsible for the shortfall in your opinion?

_Andy_

Guarantor/income isn't relevant at all. What is is that you have no equity in your home, instantly meaning no other lender will touch you.

somberfate

opinions4u wrote: »

Who should be responsible for the shortfall in your opinion?

No very helpful, i havent said i wouldnt be responsible for the shortfall would I?

But I cant pay it when Ive had to move in with a friend just because I cant afford the house and looking after my children , their necessities came first.

somberfate

_Andy_ wrote: »

Guarantor/income isn't relevant at all. What is is that you have no equity in your home, instantly meaning no other lender will touch you.

Ok, right looks like bankruptcy is my only way