I have dropped the price already. EA says however it's not a price issue. so any further drops will not make any impacts. it is now at 15k below other similar properties in the area. it's also only a year old so is in excellent condition
If this is the case then it doesn't look as if there's much that you can do. Would you not consider letting this new house go?
Apple* said:One of the stipulations for the loan offer was that we must sell our previous property in order to get the mortgage for the 2nd property. So renting is not an option at this point.
The OP may not qualify for two mortgages, and they may not even want to, I was just pointing out that this may be an option worth considering.
Yes, it is, as this is linked to affordability.EA said it's not a price issue. people just aren't coming thru the door
i would get about 90% of my mortgage payments on current property cvovered if i rented it out. I would need to make up the difference myself. we didn't really ask the lenders about keeping mine as we had gone for a 92% mortgage using the proceeds of the sale to fund the deposit.
as i stated perviously, lender then wrote in a stipulation stating that i must close down my previous mortgage before they would give us the new mortgage.
plus as it's only been my PPR for 1 year, I would have to pay SD clawback.
Go to a different lender, the one bank does'nt too much risk from you, a good broker will sort you out, PM me for suggestions
ha ha!!! i've already dropped mine 15k, can't afford to drop it anymore.
sure if we couls all drop to 100k, it'd be great! not actually realistic though is it! some of us have mortgages to pay off!!!
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