Falling off property ladder - What can i do?

hard_up_and_fed_up

My partener and i have split up and have a mortgage together. The house is on the market but we have had no interest - not even a viewing. I know the market is slow but i am also coming off the property ladder, however he will be left in good steed to get straight back on.
I love the house and would like to keep it on but we have a loan secured on the house and the current payments are more than i can afford.
I have heard of 75 yr mortgages and 120% mortgages but not sure what they all mean.
Can anyone give me advice on how i may be able to buy this place off him??
I realise it is not a good time to be coming off the ladder and i think i will be falling off with a bump!!

nelly_2

Is "loving a house" really worth all that?

As Meanmachine quite rightly put it, "Its just a pile of non productive bricks"

Your starting a new chapter in your life anyway why not get a smaller cheaper house and enjoy your money instaed of being skint for the rest of your life.

hard_up_and_fed_up

because i won't get a mortgage for anything on my own!
That's what i mean, if it is possible to keep it, it is my only way of staying on the ladder. Otherwise it is renting which is dead money.

Am completely happy with starting new chapter - i can't wait, but i would rather start it without having to go back to renting - paying soemone elses mortgage. I was hoping there might be a way to avoid that.

Spendless

hard_up_and_fed_up wrote:

because i won't get a mortgage for anything on my own!
That's what i mean, if it is possible to keep it, it is my only way of staying on the ladder. Otherwise it is renting which is dead money.

Am completely happy with starting new chapter - i can't wait, but i would rather start it without having to go back to renting - paying soemone elses mortgage. I was hoping there might be a way to avoid that.

Have you tried asking on the mortgage board, to see if someone can give you some ideas.

GDB2222

hard_up_and_fed_up wrote:

My partener and i have split up and have a mortgage together. The house is on the market but we have had no interest - not even a viewing. I know the market is slow but i am also coming off the property ladder, however he will be left in good steed to get straight back on.
I love the house and would like to keep it on but we have a loan secured on the house and the current payments are more than i can afford.
I have heard of 75 yr mortgages and 120% mortgages but not sure what they all mean.
Can anyone give me advice on how i may be able to buy this place off him??
I realise it is not a good time to be coming off the ladder and i think i will be falling off with a bump!!

It's the best time in the last 10 years to be falling off the property ladder. Good timing! Well done!

mylittlefriendbaxter

lol renting is dead money, another punter brainwashed by the likes of Krusty Allsop the clown

GDB2222

mylittlefriendbaxter wrote:

lol renting is dead money, another punter brainwashed by the likes of Krusty Allsop the clown

I bought property very heavily during the savage down-turn at the end of the 80's/early 90's. All these were repossessions, originally bought by people who thought like you that renting was dead money.

We are either in for another huge drop in prices or a very prolonged period of non-increasing prices. Either way, owning property is not looking like a good deal.

tightgit_2

hard_up_and_fed_up wrote:

My partener and i have split up and have a mortgage together. The house is on the market but we have had no interest - not even a viewing. I know the market is slow but i am also coming off the property ladder, however he will be left in good steed to get straight back on.
I love the house and would like to keep it on but we have a loan secured on the house and the current payments are more than i can afford.
I have heard of 75 yr mortgages and 120% mortgages but not sure what they all mean.
Can anyone give me advice on how i may be able to buy this place off him??
I realise it is not a good time to be coming off the ladder and i think i will be falling off with a bump!!

Would you be able to get a self certified mortgage and then get a freind /someone to share the house with you. Bit risky I know.