Negative Equity FTB

edited 31 March 2019 at 9:25AM in Mortgages & Endowments
3 replies 523 views
WelshGlyndwrWelshGlyndwr Forumite
71 Posts
Sixth Anniversary 10 Posts Combo Breaker
edited 31 March 2019 at 9:25AM in Mortgages & Endowments
I have bought my first house for

Replies

  • SparkyGradSparkyGrad Forumite
    100 Posts
    100 Posts First Anniversary
    If you actually have 15% LTV, then no. If you intend to stay living in the house, then no. Don't waste your energy with hypothetical worries.
    Electricity industry background, now working in insurance forensics.
  • ThrugelmirThrugelmir Forumite
    82.1K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    If you've any spare money. Overpay the mortgage. As I'm guessing your LTV is 85% and you've a mortgage nearer a £190k. A not insignificant debt. That will be like a ball and chain around your ankle for the foreseeable future. The risk of other dangers are far greater than that of Brexit. As negative equity can be ridden out simply by paying the capital debt down.
    It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." — George Soros
  • edited 9 April 2019 at 7:17PM
    WelshGlyndwrWelshGlyndwr Forumite
    71 Posts
    Sixth Anniversary 10 Posts Combo Breaker
    edited 9 April 2019 at 7:17PM
    need to delete
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