H
You will not be allowed to "transfer" negative to a new mortgage. The lender would expect settlement in full before they will agree to the sale going through, either by a personal loan or the sale of another asset. This in turn could effect your ability to enter into another mortgage agreement.... . Plan would be to sell the house and buy down the country bringing whatever negative equity with us as the mortgage level is not an issue. ...
You will not be allowed to "transfer" negative to a new mortgage.
Who do you suggest will compel them? The government, some consumer-oriented regulator, borrowers?The banks must be prepared to show some flexibility on this ...
Yes they are. It is precisely this kind of behaviour that brought the house of cards tumbling down in the first place. Each mortgage must stand or fall as a single entity, not secured against yet another mortgage.... They are not increasing their risk by transferring the negative equity to another property ...
I disagree and for the moment the banks seem to disagree as well.... therefore they should facilitate it.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?