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use equity on one property to cover negative equity on another?
vancreef
Posts: 42 Forumite
I own a house which has approx £20k equity in it and my wife's old house is about £10k in negative equity.
The question is can I make use of some of my equity to offset the negative equity on her house which would then allow us to sell it?
The question is can I make use of some of my equity to offset the negative equity on her house which would then allow us to sell it?
0
Comments
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Only if you sell it and use physical cash to reduce your wifes mge, or cover any shortfall on disposal.
The lender wont' accept an interest in any other property in the settlement of any mortgage, neg equity or not.
Sorry ... back to the drawing board on that one
Hope this helps
Holly x0 -
Thanks for your reply Holly.
Drawing board at the ready lol.0
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