ADVICE REQ: From 85% LTV to neg eq in a 5 year fixed term...

PRC89

I have arranged for a letting agent to view the flat tomorrow and get an idea of figures. There really is no option that is viable - I have resigned to the fact I will lose money no matter what.


As far as friends it is more a case of any money in is a bonus - as long as I have someone in there that can pay bills council tax and proportion of mortgage then its a plus. When I say mate I am more meaning a private agreement as this will allow me to re fix my mortgage outwith a formal letting agreement.


I am writing this but unsure if it is feasible or not?

BoGoF

PRC89 wrote: »

I have arranged for a letting agent to view the flat tomorrow and get an idea of figures. There really is no option that is viable - I have resigned to the fact I will lose money no matter what.


As far as friends it is more a case of any money in is a bonus - as long as I have someone in there that can pay bills council tax and proportion of mortgage then its a plus. When I say mate I am more meaning a private agreement as this will allow me to re fix my mortgage outwith a formal letting agreement.


I am writing this but unsure if it is feasible or not?

Possible......but not advisable.

PRC89

Typhoon2000 wrote: »

Nationwide will use its own index to value you property if you are looking to fix again. You can use their tool on there website to see what they think your property is worth.

Thanks I have just tried the valuation tool and it values it at £205k the flats around are selling for £135k. If this is all they look at then maybe I will be ok!

Thrugelmir

How long is the remaining term of the lease?

Any likelihood of a sizable increase in annual service charges?

PRC89

Thrugelmir wrote: »

How long is the remaining term of the lease?

Any likelihood of a sizable increase in annual service charges?

Sorry I am not 100% sure what you are asking?


My fixed term is up in Feb 2020 with the Mortgage Feb 2015 ( I took it out on 20 year term).


Ironically enough, I reckon the variable rate has been below that of my fixed rate for the duration.


What annual service charges do you mean?