Nationaldude
Registered User
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We would like to move to a bigger house but at present our house, like many others, is in negative equity by about 20-30k. We can afford to cover about half of this amount if we were to sell up, providing we got our asking price of course.
Anyway, my question is if we were to sell up for a loss and still owe 20-30k on our mortgage, how difficult would it be to take out a new mortgage to buy our bigger house? Are banks even dealing with this type of situation?
Anyway, my question is if we were to sell up for a loss and still owe 20-30k on our mortgage, how difficult would it be to take out a new mortgage to buy our bigger house? Are banks even dealing with this type of situation?
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