Severe negative equity

Morgage_Confused

I dont see anything here that is out of the norm.
5x income
Both working to pay mortgage and support child.
Terrace ex council.
Nothing in that that is any different from round my way.

Irishgal wrote: »

When we bought the house they lent us 5x our income and charged us a £2,500 higher lending fee. Looking back now it is madness. Try told us after 3 years we could switch to repayment but clearly that couldn't happen.

It's just so sad that it has come to this! We both work 5 days a week to support a 2 year old, all for a terraced ex council house!

ILW

Why does being in negative equity affect ones ability to keep up payments?

Irishgal_2

Morgage_Confused wrote: »

I dont see anything here that is out of the norm.
5x income
Both working to pay mortgage and support child.
Terrace ex council.
Nothing in that that is any different from round my way.

Sorry what are you suggesting???

If you have no advice then don't post.

Irishgal_2

ILW wrote: »

Why does being in negative equity affect ones ability to keep up payments?

When did I suggest that???

I'm merely saying I can't afford my mortgage and due to the fact I am in negative equity I need advice re options