opportunities for myself to change job are quite good(community worker).
The options are
If you have a cheap tracker, it may well make sense to keep the house, either staying in it or letting it out. I am assuming that you have a cheap tracker.
Unfortunately no tracker. Standard variable....
Basically all we want to do is move back home (northeast), buy a house at 200k, add any debt owing to this and continue paying for our mistakes.
I realise there are legal implications in terms of a sale falling through and bank caught in limbo but surely these kind of discussions are happening in bank boardrooms at the moment?
Maybe I'm being too simplistic about our situation.
Assuming we were to sell and carry a debt of 20k how likely are we to get mortgage approval in the future?
I get the feeling we may have to stay put and tough it out. The OH is not going to be happy to hear that!
Basically all we want to do is move back home (northeast), buy a house at 200k, add any debt owing to this and continue paying for our mistakes.
Their loans dept. is very willing to loan the difference (neg. equity) for a term up to 10 yrs at a favourable interest rate of 6.5%
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