Originally Posted by Dr_Kolossus
We bought for 365k in 2007. 90% ltv. If sold now we would get 250k. I think we owe 255k or so. So slight neg equity still. 1 more year renting it out and hopefully can sell.
Has been rented last 4.5 years, and have to put in 4k per year extra due to tax man. So will have put in 20k tax by time we sell too.
Loads of people like us
Same here although I'm probably slightly the other side of the negative equity line. Though it's hard to tell as for the location (rural town) it's hard to get a definite sense of the market price.
It's been rented for past 4 years also and tbh if/until the tenants act up its better to leave it rented for me. That may change if the rules/laws/burdens change further for landlords. Its a tracker mortgage so low interest, and the house is about 70k less in value than I paid for it (excluding 25k refurb costs), so it suits me at the moment with decent tenants to keep it ticking over, with some (hopefully) eat in to the lost value. Hard to predict though. At least, at the moment apparently being just out of negative equity, I can just about exit the rental market when I want to which is reassuring.