Sell house advise

mk2_dee

Hi

I am selling my house for personal reasons. But I just renewed my morgage with halifax for 3 years and I still have 20 years left on my morgage I got a valuation when I changed to halifax but I am wondering how do I work out if I get the price the house is valued at will it cover my morgage when you taking into account the interest rate etc ?

Thanks

gharrower

mk2_dee wrote: »

Hi

I am selling my house for personal reasons. But I just renewed my morgage with halifax for 3 years and I still have 20 years left on my morgage I got a valuation when I changed to halifax but I am wondering how do I work out if I get the price the house is valued at will it cover my morgage when you taking into account the interest rate etc ?

Thanks

think you need to provide value of house , amount left on mortgage and early repayment charge

betmunch

You need to be a bit clearer with what has happened and include some figures.

If you just took a product transfer with halifax and the value of your house is less than the balance plus early repayment charge then you will have problems.

If you just remortgaged to halifax then you should have sufficient equity to be confident in selling and having enough money to pay off the mortgage and early repayment charge.

We need to know your expected selling price and your mortgage as a minimum. If you also know the fees you will incur from estate agents and solicitors, and also your early repayment charge, then you can get a solid yes or no.

mk2_dee

I have 77k left on my morgage Over 20 years at 2.29%. The house was valued at 115k 2 months ago can you give me and idea how much I would
Be left with if I get the valued price taking into account the interest rate and is there an early repayment charge ?

mk2_dee

betmunch wrote: »

You need to be a bit clearer with what has happened and include some figures.

If you just took a product transfer with halifax and the value of your house is less than the balance plus early repayment charge then you will have problems.

If you just remortgaged to halifax then you should have sufficient equity to be confident in selling and having enough money to pay off the mortgage and early repayment charge.

We need to know your expected selling price and your mortgage as a minimum. If you also know the fees you will incur from estate agents and solicitors, and also your early repayment charge, then you can get a solid yes or no.

Just found out the early repayment fee is £2300. Is there any other hidden charges of I pay back the 77k plus the 2300 fee is that my morgage clear ? Except for estate agent and solicitors fees?

amnblog

There is probably a modest admin fee to settle.

Assume you will need to pay out £80,000 to the lender on sale.