MrOutraged
Registered User
- Messages
- 20
Personal and income details
Income self: 28k gross
Income history: in my current role (same salary) for 5 years
Income partner/spouse: 53k
Income history: same employer for 7 years. Salary has increased lately.
number of children: 0
Amount of Mortgage Interest Supplement received: not sure
Home loan
Lender: prefer not to say
Amount outstanding: 283k
Value of home: 120k
Interest rate: specify whether tracker or SVR or fixed rate part tracker, part variable
Monthly repayment 1100
Amount in arrears 0
Summary of discussions and agreements with the bank:
N/A
Other loans and creditors - no other debts
Other savings and investments : none really
How important is retaining the family home to you?
Not at all. We are currently stuck there and wish to get out.
Any other relevant information: nope
What is your preferred realistic outcome?
Approach our lender and get some of the debt written off.
This post will surely get some negative responses.
We bought the house as a starter home in 2005 for 320k. We still have around 283k of the mortgage outstanding and a similar property beside us has just sold for 120k.
We don't like the house, don't like the estate and I work in financial services so my future earning prospects look poor to say the least.
We can afford the payments but my opinion is that I don't want to. We were victims of the past governments mistakes and a global financial crisis not of our creating.
We would like to move to a nicer home but unless we can get some debt written off we would be looking at a mortgage top up to bring us to over half a million in debt. So we would most likely be dead before the new house is ever paid for.
I am sure some will start pointing out that we bought the house so we should shut up and pay for it. To be honest I don't see why I should spend the rest of my life in debt while a lot of the people who contributed to the problem haev retired with pensions of over 110k!
Anyone here ever had any experience of approaching the lender and looking for a part write off? They could make more money off us in the future with a new mortgage without a tracker part to it ( I'd imagine) rather than leaving us stuck in a house with 160k negative equity.
We want to get married and start a family soon but under our current circumstances (facing a lifetime of debt) we don't feel able to do so.
Income self: 28k gross
Income history: in my current role (same salary) for 5 years
Income partner/spouse: 53k
Income history: same employer for 7 years. Salary has increased lately.
number of children: 0
Amount of Mortgage Interest Supplement received: not sure
Home loan
Lender: prefer not to say
Amount outstanding: 283k
Value of home: 120k
Interest rate: specify whether tracker or SVR or fixed rate part tracker, part variable
Monthly repayment 1100
Amount in arrears 0
Summary of discussions and agreements with the bank:
N/A
Other loans and creditors - no other debts
Other savings and investments : none really
How important is retaining the family home to you?
Not at all. We are currently stuck there and wish to get out.
Any other relevant information: nope
What is your preferred realistic outcome?
Approach our lender and get some of the debt written off.
This post will surely get some negative responses.
We bought the house as a starter home in 2005 for 320k. We still have around 283k of the mortgage outstanding and a similar property beside us has just sold for 120k.
We don't like the house, don't like the estate and I work in financial services so my future earning prospects look poor to say the least.
We can afford the payments but my opinion is that I don't want to. We were victims of the past governments mistakes and a global financial crisis not of our creating.
We would like to move to a nicer home but unless we can get some debt written off we would be looking at a mortgage top up to bring us to over half a million in debt. So we would most likely be dead before the new house is ever paid for.
I am sure some will start pointing out that we bought the house so we should shut up and pay for it. To be honest I don't see why I should spend the rest of my life in debt while a lot of the people who contributed to the problem haev retired with pensions of over 110k!
Anyone here ever had any experience of approaching the lender and looking for a part write off? They could make more money off us in the future with a new mortgage without a tracker part to it ( I'd imagine) rather than leaving us stuck in a house with 160k negative equity.
We want to get married and start a family soon but under our current circumstances (facing a lifetime of debt) we don't feel able to do so.