negative equity and circumstances changed - advice please.

DerKaiser said:

I don't think tax on the income in excess of the interest repayments will be an issue somehow! Owning a house to live in is one thing as you'll always need somewhere to live. Owning a house as an investment is simply an investment, a large investment in a single risky asset. This is as big a gamble as going out tomorrow and borrowing 5 times your income to invest in stock in a single company.

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