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Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Thank you for your understanding.can i move ?
alex211111
Forumite 6 Posts
i have a property that is on interest only,i am 2k in arrears,now i am wondering if it would be possible to move to a cheaper property,(eg 10k) ,clear the arrears,and take the mortgage with me,or something similar.
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current mortgage? (assume this is the same figure you started with if interest only)
current house value?
If a mortgage is portable, it is the rate etc this applies to, in most cases you would still need to make an application to check the salary multiples, credit rating and LTV fit with the lenders current requirements
How do you propose paying for the costs of moving?
Will your current lender agree to such a proposal?