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Mortgage prisoner.
Comments
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You really are not a mortgage prisoner.
You can sell a couple of properties and release yourself from your current situation.2 -
Suggesting selling what may be the only or most significant income isn't necessarily helpful...As suggested, get the prisoner letter and talk to a broker, there are lenders willing to lend on a mixed interest only/repayment basis to prisoners on modified affordability terms.... if there is still not enough income to meet the modified criteria, then it is time to look at down-sizing / selling BTL properties.0
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How long is left on the mortgage term now?landlord999 said:Value is 400k mortgage is 280k, repayment plan is sell some BTL properties.
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15 years..0
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Sell some of your houses that you have no intention of living in and let those who only want one house to call their very own onto the property ladder.0
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Then as suggested above, get your prisoner letter and talk to a good broker.landlord999 said:15 years..
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