Selling house with mortgage

[Glenbuck]

Hello,

Looking for some advice please. I own my own home with an outstanding mortgage of roughly €120,000.Current market value of my house is around €110,000. I plan to move in with my partner so wont be taking on another mortgage. My question is does the outstanding mortgage (€10,000 in this example) have to be paid immediately or would the lender give the option of turning it into a loan say over a 2 year period.

Thank you

 

[mf1]

You have to ask them ( your lender) that question.

Right now, you cannot complete a sale - you need to talk to the lender before you can consider selling.

mf

 

[Brendan Burgess]

Which lender is it?

What mortgage rate are you paying?

Could you consider renting it? If so, what rent would you get?

Generally, it's probably better to rent a house in negative equity and hope that house price rises will make the negative equity evaporate.

Brendan