Permission to let has lapsed!

ANDRUAFER

Sell it and borrow the difference.


Fabulous (smug) advice for the millions of people all over the uk who've found themselves in negative equity.

BillJones

mcauley wrote: »

Wow- why so harsh? I asked for advice, not a telling off. How many of us on here are in the crappy position of being trapped by crashing house prices and banks - who contributed to that mess, cashing in on homeowners who find themselves unable to sell?

Not me. I am, however, in a bank, earning less than I would be if homeowners had not cashed in by borrowing money that they couldn't pay back.

It's a funny old world, isn't it?

Anyway, as above, no point you being angry, you need a buy to let mortgage, or to sell the house, or to move back in.

Pixie5740

mcauley wrote: »

Sell it and borrow the difference.


Fabulous (smug) advice for the millions of people all over the uk who've found themselves in negative equity.

Cry me a river.

Your alternative is to continue running at a loss which will probably cost you more than just borrowing the difference now, especially sun interest rates rise. Not to mention hoping that hmrc don't catch up with you regarding your potential tax evasion.

ANDRUAFER

Angry much pixie?

BillJones

mcauley wrote: »

I've already explained to you that I can't rent, can't afford a 3% hike, can't move back there. Instead of snidey remarks - why don't you suggest something i could do that won't leave me up the creak???

There is probably no route out that will leave you happy. People would be suggesting an easy route out if there was one.

ANDRUAFER

I'm ok with not necessarily ending up with a happy result. Disappointing however to face such nastiness in a place that's supposed to be here for advice and support.

BillJones

mcauley wrote: »

Fabulous (smug) advice for the millions of people all over the uk who've found themselves in negative equity.

There really aren't many people who have managed that particular trick. In case you've not noticed, we are in the throes of a period of house price inflation.

lovinituk

mcauley wrote: »

Angry much pixie?

To be fair you are evading tax, or at least not declaring when you should be, while some of us do things properly and by the book. I do find it infuriating that I found out everything we needed to do when we became landlords when others can't or won't. Its not hard so why can't everyone do it?

Have you lodged your tenants deposit correctly? Do you have regular gas safety and electrical checks as required by law?

BillJones

mcauley wrote: »

I'm ok with not necessarily ending up with a happy result. Disappointing however to face such nastiness in a place that's supposed to be here for advice and support.

It's continually nasty to be faced with supposedly adult posters who get angry at people trying to help them. It keeps happening, though.

You've been given good advice. No outcome is nice, it was all down t
choices you made, though, so you just need to work out which is the least worst, and go with it.

Trying to blame others for what you have done will not move you forwards.

ANDRUAFER

I haven't blamed a single poster for anything.

Yes it's through agency so all checks are carried out, deposit secure etc