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Negative Equity and wanting to move

  • 10-08-2011 12:46pm
    #1
    november19
    Closed Accounts Posts: 1 ✭


    Hi
    I am a divorcee with negative equity approx 55K.This house is owned by myself .I am getting remarried later this year and myself and hubbie to be would like to buy our own place.
    I was just wondering what options are there .
    The current balance on my mortage is circa 210K and house value 160K.We are looking at houses between 180-200K.I don't think banks will allow me a mortgage even move from single to joint mortgage with this negative equity.
    Is it a viable option to rent existing property and new mortgage for 2nd house and will this second house have to be solely in my partners name.

    Any advise is much appreciated.


Comments

  • #2
    Riskymove
    Registered Users, Registered Users 2 Posts: 10,900 ✭✭✭✭Riskymove


    november19 wrote: »
    .
    Is it a viable option to rent existing property and new mortgage for 2nd house

    yes...once you feel you can get tenents
    and will this second house have to be solely in my partners name.

    no


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