SO16_Saint Posted 21 January, 2011 Share Posted 21 January, 2011 Not sure whether this is allowed or not, but I’m a Mortgage Advisor and work for a local (to Southampton) brokerage. Our website is: www.thegoodmortgagecompany.co.uk If you are in need of Mortgage (new purchase / remortgage / BTL) or Insurance advice – Free of Charge – PM me and we can discuss meeting up / arranging a call. Cheers Link to comment Share on other sites More sharing options...
Liquidshokk Posted 21 January, 2011 Share Posted 21 January, 2011 I don't think you could get me out of the hole I'm in................. Four words; Northern, Rock, Together, Mortgage Link to comment Share on other sites More sharing options...
dan17 Posted 21 January, 2011 Share Posted 21 January, 2011 Worry not Liquidshokk, it aint just you :-( Depressing stuff really...... Link to comment Share on other sites More sharing options...
SO16_Saint Posted 21 January, 2011 Author Share Posted 21 January, 2011 sold quite a few of those back in the day. they're not THAT bad actually. Only 95% of it is secured and the rest is an unsecured loan - so assuming you have equity, it may be possible to remortgage..... but the NR loan will go up by 8%.... which you can just re-broke.... Link to comment Share on other sites More sharing options...
dan17 Posted 21 January, 2011 Share Posted 21 January, 2011 Yeah the mortgage bit is fine, not a problem. Its the fact that the loan repayments go shooting up as soon as you 'seperate' the two sides of the deal. The only options we seem to have is stay where we are forever, or at least hope we have alot more equity in the future (we do have some now but not enough), or sell up, pay off all the debt and start renting/saving for another mortgage which will probably take us years. Not after any sympathy BTW, my own silly fault for getting in so much debt in the first place (angry face thing). Link to comment Share on other sites More sharing options...
Liquidshokk Posted 21 January, 2011 Share Posted 21 January, 2011 Yeah the mortgage bit is fine, not a problem. Its the fact that the loan repayments go shooting up as soon as you 'seperate' the two sides of the deal. The only options we seem to have is stay where we are forever, or at least hope we have alot more equity in the future (we do have some now but not enough), or sell up, pay off all the debt and start renting/saving for another mortgage which will probably take us years. Not after any sympathy BTW, my own silly fault for getting in so much debt in the first place (angry face thing). Horrible isn't it. Not after sympathy either. Was a truly stupid decision listening to the mortgage advisor and going with the only deal being offered to us. We have a few grand of negative equity I reckon Luckily (I guess) the mortgage is only 98 grand and the loan is 18k Just dont know what to do about it and can't see a way out. I have researched it a lot and its just got to the point where I've stopped thinking about it, remain on variable rate and just pray that miraculously we will get equity before northern rock shaft us by shooting the rate up. Sorry to hear you're in the same boat Dan. Link to comment Share on other sites More sharing options...
dan17 Posted 21 January, 2011 Share Posted 21 January, 2011 Horrible isn't it. Not after sympathy either. Was a truly stupid decision listening to the mortgage advisor and going with the only deal being offered to us. We have a few grand of negative equity I reckon Luckily (I guess) the mortgage is only 98 grand and the loan is 18k Just dont know what to do about it and can't see a way out. I have researched it a lot and its just got to the point where I've stopped thinking about it, remain on variable rate and just pray that miraculously we will get equity before northern rock shaft us by shooting the rate up. Sorry to hear you're in the same boat Dan. Thing is, at the time all you can see is two choices. 1) Don't get a mortgage and be forever depressed 2) Get a mortgage with the only option and own a house and be happy Thats how they tempted so many people into doing it. As you said we are now just sat on the variable rate and hoping for the best. Still, **** happens, it's only money! Link to comment Share on other sites More sharing options...
buctootim Posted 21 January, 2011 Share Posted 21 January, 2011 (edited) Liquid and Dan have you guys thought about this scheme? Basically an interest free loan for 5 years and low thereafter in exchange fo part the equity - but you can buy out the social lender anytime you get extra money. I did it when I separated and needed a three bed house on one income. http://www.homesinhants.co.uk/ Edited 21 January, 2011 by buctootim Link to comment Share on other sites More sharing options...
Liquidshokk Posted 21 January, 2011 Share Posted 21 January, 2011 Liquid and Dan have you guys thought about this scheme? Basically an interest free loan for 5 years and low thereafter in exchange fo part the equity - but you can buy out the social lender anytime you get extra money. I did it when I separated and needed a three bed house on one income. http://www.homesinhants.co.uk/ Can't see them wanting to go through that with me when there's no equity at present. I'd be open to any options at the moment as it feels like there's only one. Put up and shut up. Link to comment Share on other sites More sharing options...
Liquidshokk Posted 21 January, 2011 Share Posted 21 January, 2011 Thing is, at the time all you can see is two choices. 1) Don't get a mortgage and be forever depressed 2) Get a mortgage with the only option and own a house and be happy Thats how they tempted so many people into doing it. As you said we are now just sat on the variable rate and hoping for the best. Still, **** happens, it's only money! Yeah they saw us coming. You're right about it only being money. My attitude changes weekly on the matter. One week I'm getting myself in a right mess about it all and the next I'm thinking "oh well, we'll be dead one day..." Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 21 January, 2011 Share Posted 21 January, 2011 Yeah they saw us coming. You're right about it only being money. My attitude changes weekly on the matter. One week I'm getting myself in a right mess about it all and the next I'm thinking "oh well, we'll be dead one day..." Try to think of it as rent. When house prices start going back up again it will all look happier. Link to comment Share on other sites More sharing options...
mcjwills Posted 21 January, 2011 Share Posted 21 January, 2011 (edited) Yeah they saw us coming. You're right about it only being money. My attitude changes weekly on the matter. One week I'm getting myself in a right mess about it all and the next I'm thinking "oh well, we'll be dead one day..." Liquid dependant on your age, the stress of trying to pay a mortgage you can not afford, sometimes just is not worth it, if there is any chance of redundancy or your rates going through the roof, they do not pay your mortgage for the first 9 months (hope you have insurance I found that out the hard way first time i was made redundant), and the good old Northern Rock are the first ones to come gunning after you, the dole office are after you to take any job, regardless if you can pay your bills when you take it , at least in rented accommodation the council will pay your rent or get rent relief if your on low pay. Edited 21 January, 2011 by mcjwills Link to comment Share on other sites More sharing options...
Liquidshokk Posted 21 January, 2011 Share Posted 21 January, 2011 Liquid dependant on your age, the stress of trying to pay a mortgage you can not afford, sometimes just is not worth it, if there is any chance of redundancy or your rates going through the roof, they do not pay your mortgage for the first 9 months (hope you have insurance I found that out the hard way first time i was made redundant), and the good old Northern Rock are the first ones to come gunning after you, the dole office are after you to take any job, regardless if you can pay your bills when you take it , at least in rented accommodation the council will pay your rent or get rent relief if your on low pay. Believe me if I could be shot of my flat tomorrow I would be. Renting sounds bliss to me. I don't have redundancy but I'd like to think as a 27 year old experienced IT worker I wouldn't have too much trouble getting a similar job (said it now) Thanks for the advice and I will look into insurance. The mortgage rate shooting up is my biggest concern on variable rate. I do have a lodger that covers pretty much half of everything so at least I wouldn't have to find the whole mortgage money on my own. If I could get signed up to a 5 year fixed rate deal tomorrow it would be such a relief. Then I could kick back and wait for house prices to rise.... 3, 2, 1.. and your back in the room.... Link to comment Share on other sites More sharing options...
dan17 Posted 21 January, 2011 Share Posted 21 January, 2011 Yeah they saw us coming. You're right about it only being money. My attitude changes weekly on the matter. One week I'm getting myself in a right mess about it all and the next I'm thinking "oh well, we'll be dead one day..." Sounds awful but I find this approach helps the most........... You only live once, might as well enjoy what you can while you can!! Link to comment Share on other sites More sharing options...
dan17 Posted 21 January, 2011 Share Posted 21 January, 2011 Liquid and Dan have you guys thought about this scheme? Basically an interest free loan for 5 years and low thereafter in exchange fo part the equity - but you can buy out the social lender anytime you get extra money. I did it when I separated and needed a three bed house on one income. http://www.homesinhants.co.uk/ Thanks for the idea, will look into this and see what occurs. Probably won't touch us with a barge pole but I really appreciate you suggesting it! Link to comment Share on other sites More sharing options...
Turkish Posted 21 January, 2011 Share Posted 21 January, 2011 (edited) Not sure whether this is allowed or not, but I’m a Mortgage Advisor and work for a local (to Southampton) brokerage. Our website is: www.thegoodmortgagecompany.co.uk If you are in need of Mortgage (new purchase / remortgage / BTL) or Insurance advice – Free of Charge – PM me and we can discuss meeting up / arranging a call. Cheers i'll have some FREE advice, first time buyer, decent wage, zero deposit though at the moment, shall we call it a "chequered" credit history over the last 10-15 years but been a good boy for the last 3 or 4 years and now the only debt i have is a couple of grand on credit cards which i could clear off easily if i want to. Never been able to save up a deposit as been renting for 10 years and paying off debts from my early 20's. What are my chances? Edited 22 January, 2011 by Turkish Link to comment Share on other sites More sharing options...
ChrisPY Posted 22 January, 2011 Share Posted 22 January, 2011 Get a loan for a 'car'. You have your deposit. Link to comment Share on other sites More sharing options...
Turkish Posted 22 January, 2011 Share Posted 22 January, 2011 Get a loan for a 'car'. You have your deposit. doesn't that come off the amount you can borrow for a mortgage? Link to comment Share on other sites More sharing options...
Liquidshokk Posted 22 January, 2011 Share Posted 22 January, 2011 doesn't that come off the amount you can borrow for a mortgage? Didn't realise you were capable of being normal and partake in an adult conversation sensibly. Well done. Link to comment Share on other sites More sharing options...
Turkish Posted 22 January, 2011 Share Posted 22 January, 2011 Didn't realise you were capable of being normal and partake in an adult conversation sensibly. Well done. Sorry, i should have written 5 paragraphs on how depressing it is that at my age i dont own a house, i'll remember next time. Link to comment Share on other sites More sharing options...
Liquidshokk Posted 22 January, 2011 Share Posted 22 January, 2011 Sorry, i should have written 5 paragraphs on how depressing it is that at my age i dont own a house, i'll remember next time. All I'd say is don't bother with a mortgage. Never felt so tied down but that may be just because of the bad deal we're in. Oops, that's not TOO negative is it?? Wouldn't want it to be referred to over and over and over and over again throughout the site.... Link to comment Share on other sites More sharing options...
Thedelldays Posted 22 January, 2011 Share Posted 22 January, 2011 I bought my place in march 2007....I am putting it up for sale next week (provided I can walk away evens)....just so to get out of being tied down.. hopefully.....I could get what I paid for it....seeing as I got it at £6k knock down price....and prices still went up after that..... Link to comment Share on other sites More sharing options...
Thedelldays Posted 22 January, 2011 Share Posted 22 January, 2011 Not sure whether this is allowed or not, but I’m a Mortgage Advisor and work for a local (to Southampton) brokerage. Our website is: www.thegoodmortgagecompany.co.uk If you are in need of Mortgage (new purchase / remortgage / BTL) or Insurance advice – Free of Charge – PM me and we can discuss meeting up / arranging a call. Cheers can I ask why for so many mortgages do you need a ridiculous deposit....? Link to comment Share on other sites More sharing options...
Liquidshokk Posted 22 January, 2011 Share Posted 22 January, 2011 I bought my place in march 2007....I am putting it up for sale next week (provided I can walk away evens)....just so to get out of being tied down.. hopefully.....I could get what I paid for it....seeing as I got it at £6k knock down price....and prices still went up after that..... Are you thinking of renting then or moving abroad? Just nice to have those options I guess. Are you at risk of things going tits up with your mortgage then or just want the freedom? Link to comment Share on other sites More sharing options...
Thedelldays Posted 22 January, 2011 Share Posted 22 January, 2011 Are you thinking of renting then or moving abroad? Just nice to have those options I guess. Are you at risk of things going tits up with your mortgage then or just want the freedom? no mate...not tits up...I am comfortable really... but with my job, there are options in a few years of moving around a bit...and that so many forcasters are suggesting house prices are going to go down in 2012 to 2002-2003 prices.... I have been reading that they will remain steady this year..but as the cuts etc take its toll later this year it will have a knock on effect on the housing market... so, looking to get out of the game...I dont know why, but in the UK SO MUCH pressure/attention is put on people to own their own homes...this is not the case in many like for like countries.....why..? my place we on at £94k xmas 2006...I got it at £88k 1st week march 07.....I owe pennies over £80k on my mortgage...if I can walk away evens, then I will do it Link to comment Share on other sites More sharing options...
Liquidshokk Posted 22 January, 2011 Share Posted 22 January, 2011 no mate...not tits up...I am comfortable really... but with my job, there are options in a few years of moving around a bit...and that so many forcasters are suggesting house prices are going to go down in 2012 to 2002-2003 prices.... I have been reading that they will remain steady this year..but as the cuts etc take its toll later this year it will have a knock on effect on the housing market... so, looking to get out of the game...I dont know why, but in the UK SO MUCH pressure/attention is put on people to own their own homes...this is not the case in many like for like countries.....why..? my place we on at £94k xmas 2006...I got it at £88k 1st week march 07.....I owe pennies over £80k on my mortgage...if I can walk away evens, then I will do it Totally agree with all that. If I knew what I know now then I never would have gone through with it but being my first home I was caught up in the excitement. Sounds like you are actually in a really good position and with the property being under 100k it should easily sell you'd think. Have you checked Zoopla to see how much it thinks it's worth? Link to comment Share on other sites More sharing options...
Thedelldays Posted 22 January, 2011 Share Posted 22 January, 2011 (edited) Totally agree with all that. If I knew what I know now then I never would have gone through with it but being my first home I was caught up in the excitement. Sounds like you are actually in a really good position and with the property being under 100k it should easily sell you'd think. Have you checked Zoopla to see how much it thinks it's worth? yeah but zoopla is not that accurate.....it had the flat above me (which is a 3 bed) at £85k 2 years ago.....it sold at £138k.. not really accurate I dont think edit - just looked on there and my next door neighbours place is listed as being worth £15k less than mine...despite the flats being identical.... odd Edited 22 January, 2011 by Thedelldays Link to comment Share on other sites More sharing options...
Liquidshokk Posted 22 January, 2011 Share Posted 22 January, 2011 yeah but zoopla is not that accurate.....it had the flat above me (which is a 3 bed) at £85k 2 years ago.....it sold at £138k.. not really accurate I dont think edit - just looked on there and my next door neighbours place is listed as being worth £15k less than mine...despite the flats being identical.... odd Hmmm, yeah and my mate just told me that he was able to edit our flat on the site which bumped the value up by 15k!! Unreliable indeed. Think you'll be alright. Link to comment Share on other sites More sharing options...
buctootim Posted 22 January, 2011 Share Posted 22 January, 2011 This calculator from the Nationwide should give a rerasonable idea of values. http://www.nationwide.co.uk/hpi/calculator.asp Link to comment Share on other sites More sharing options...
Liquidshokk Posted 22 January, 2011 Share Posted 22 January, 2011 Thanks for the idea, will look into this and see what occurs. Probably won't touch us with a barge pole but I really appreciate you suggesting it! Dan, have you ever spoke to a mortgage advisor about your situation? I keep being told to by people but I never have because I'm convinced nothing can be done. What advice have you been given if any? Link to comment Share on other sites More sharing options...
hamster Posted 23 January, 2011 Share Posted 23 January, 2011 My only advice to any home owner right now, with or without a mortgae is hang on in there. I am no expert but I have been around a very long time and I reckon I have noticed attend. Houses are starting to move again, i think people have resolved the housing market problem by ourselves, the greed has gone in my opinion and the one's who have hung on in there are sitting pretty. remember if nothing else, when you own a home that isa a roof over your head, that is all that any man needs. Link to comment Share on other sites More sharing options...
Johnny Bognor Posted 23 January, 2011 Share Posted 23 January, 2011 (edited) This calculator from the Nationwide should give a rerasonable idea of values. http://www.nationwide.co.uk/hpi/calculator.asp The problem with these calcuators is that they apply a regional average rise or fall to the property price, which takes no account of localised house prices which can be affected by the desirability of the area or the type of property for which there may be more or less demand. For example, in Bognor prices have fallen whilst in Chichester prices have held much better. I had two properties between 2007 and 2011, one of which sold earlier this year for £40k less than it was on the market for 4 years ago. The other property was recently valued at £50k more than I bought it for 3 years ago. They are only two miles apart but one is a new build (the one that went down) in a very average area and the other is a Georgian property (which went up) in one of the better areas. The best thing to do is get 3 estate agent valuations as they know the local market, they know what is demand locally and have a better feel than an onine calculator. As for the NR, I have every sympathy with those trapped. I had the sale of my first property fall through at the last minute in 2007, having found my dream home, I didn't want to lose it. We got another buyer and so I went straight to the NR (who were pretty much giving everyone anything they wanted) to by the dream home independently of selling the old one (to guarantee I would get it). It was a risky position. On the day of exchange, it came out that our buyer was bankrupt (how the **** this didn't get picked up, I'll never know) and we preceeded with our purchase. This left me with two properties with repayments that would make most peoples eyes water. So I had no choice but to rent out the old one. While I was on the NR fixed rate, things were OK, but after two years I went on to their variable. Then the BOE slashed interest rates, whilst the governement owned NR put their rates up. I seem to remember it being 5.5% when pretty much every other lender had variables of 3-4%. To rid myself of NR, I needed to sell the old one (where I had quite a bit of equity) which took three years. Fortunately I sold the old property back in Jan so was in a position to **** NR off. Now I am back to one mortgage on a 3.19% fixed rate and my mortgage payments are 70% less than they were a year ago. People say the taxpayers bailed out NR......********, the mortgage holders have and continue to bail out NR by being completely ripped off by their ridiculous variable rates. Edited 23 January, 2011 by Johnny Bognor Link to comment Share on other sites More sharing options...
Whitey Grandad Posted 23 January, 2011 Share Posted 23 January, 2011 can I ask why for so many mortgages do you need a ridiculous deposit....? It's because of the credit crunch. The lenders want to be sure that they can recover their money even if house prices fall by 20%, or even more. Link to comment Share on other sites More sharing options...
$$$ Posted 23 January, 2011 Share Posted 23 January, 2011 The views of most people in this country with regards to housing is beyond retarded. At least some are starting to get it http://www.adamsmith.org/blog/tax-and-economy/british-housing-on-the-right-track/ Enjoy the ride Link to comment Share on other sites More sharing options...
Johnny Bognor Posted 23 January, 2011 Share Posted 23 January, 2011 (edited) The views of most people in this country with regards to housing is beyond retarded. At least some are starting to get it http://www.adamsmith.org/blog/tax-and-economy/british-housing-on-the-right-track/ Enjoy the ride I've seen that graph before and the problem with it is that the scales of valuation and time are presented in such a way to exagerate the rise and fall. The analysis was compiled by a US professor and it was supposed to relate to the US housing bubble. Therefore it doesn't necessarily mean that the same would happen in the UK, but lets assume it did. For arguments sake, lets assume that the period in question is 10 years. The assumption is that house prices went up by more than 300% in just two years which is complete nonsense. The shape of the graph may have some truth in it (in that there are ups and downs), but the peaks and troughs are way overstated by a long long way. Therefore, don't panic. Edited 23 January, 2011 by Johnny Bognor Link to comment Share on other sites More sharing options...
$$$ Posted 23 January, 2011 Share Posted 23 January, 2011 Not really. The graph is only showing the stages of a bubble and that the capitulation stage will result in prices falling below the mean price. What’s the mean price? Many people would argue it should be 3.5 times the mean salary plus 10% for a deposit. That was traditionally the amount you could expect to get for a mortgage before banks started playing pass the parcel with securitisations. People generally don’t think fuel or food price rises are a good thing. For some reason however, many people in the UK have some misguided belief that the price of housing going up is great… Link to comment Share on other sites More sharing options...
Johnny Bognor Posted 23 January, 2011 Share Posted 23 January, 2011 (edited) Not really. The graph is only showing the stages of a bubble and that the capitulation stage will result in prices falling below the mean price. What’s the mean price? Many people would argue it should be 3.5 times the mean salary plus 10% for a deposit. That was traditionally the amount you could expect to get for a mortgage before banks started playing pass the parcel with securitisations. People generally don’t think fuel or food price rises are a good thing. For some reason however, many people in the UK have some misguided belief that the price of housing going up is great… House prices going up is only great if you are an investor. However, demand drives prices, not what someone thinks they should be. Having said that, access to 'easy' money artificially inflated the market, so a drop is inevitable. The average annual increase in house prices in the UK over the last 10 years is less than 10% (I've checked this against Land Registry, Halifax and Nationwide figures), so the "drama" effect in that graph is misleading with the ultimate outcome of people panicking. The graph is showing 300% rise in valuations over a small period when in fact house prices have not gone up by half that much over the last 10 years. There may be more falls to come, but they will not be as dramatic as in that graph and in the long term they will go up, unless God is going to make some new land or we are going to start culling the population. Edited 23 January, 2011 by Johnny Bognor Link to comment Share on other sites More sharing options...
Liquidshokk Posted 23 January, 2011 Share Posted 23 January, 2011 Not really. The graph is only showing the stages of a bubble and that the capitulation stage will result in prices falling below the mean price. What’s the mean price? Many people would argue it should be 3.5 times the mean salary plus 10% for a deposit. That was traditionally the amount you could expect to get for a mortgage before banks started playing pass the parcel with securitisations. People generally don’t think fuel or food price rises are a good thing. For some reason however, many people in the UK have some misguided belief that the price of housing going up is great… House prices going up is definately good when you are trying to rid negative equity! ;-) Link to comment Share on other sites More sharing options...
$$$ Posted 23 January, 2011 Share Posted 23 January, 2011 House prices going up is only great if you are an investor. However, demand drives prices, not what someone thinks they should be. Having said that, access to 'easy' money artificially inflated the market, so a drop is inevitable. The average annual increase in house prices in the UK over the last 10 years is less than 10% (I've checked this against Land Registry, Halifax and Nationwide figures), so the "drama" effect in that graph is misleading with the ultimate outcome of people panicking. The graph is showing 300% rise in valuations over a small period when in fact house prices have not gone up by half that much over the last 10 years. There may be more falls to come, but they will not be as dramatic as in that graph and in the long term they will go up, unless God is going to make some new land or we are going to start culling the population. If you think an increase of less than 10% a year over the last decade is no big deal, have a look at this video [video=youtube;F-QA2rkpBSY] The graph has no values and therefore does not claim anything about 300% increases in 10 years or indeed any other specifics. If you want to play with figures, perhaps the graph on this page (March 2009) will help you… Link posted in case external linking does not work http://ftalphaville.ft.com/blog/2009/03/12/53476/bubble-theory-and-uk-housing/ Spooky! Link to comment Share on other sites More sharing options...
Johnny Bognor Posted 23 January, 2011 Share Posted 23 January, 2011 (edited) If you think an increase of less than 10% a year over the last decade is no big deal, have a look at this video [video=youtube;F-QA2rkpBSY] The graph has no values and therefore does not claim anything about 300% increases in 10 years or indeed any other specifics. If you want to play with figures, perhaps the graph on this page (March 2009) will help you… Link posted in case external linking does not work http://ftalphaville.ft.com/blog/2009/03/12/53476/bubble-theory-and-uk-housing/ Spooky! True, but look at the "crash" after the bubble of the late 1980's in your graph. 25% came off prices which is a long way from the 90% depicted in the yank doctors graph (particularly with the UK and Scotland (which didn't crash at all)). Then consider that prices doubled from 2000 to 2010 which is 100%, i.e. less than 10% per annum and is more like 7%. In the doctors graph (assuming it is to scale) he has trebled prices over a very short period of time. As it happens, everything has gone up exponentially over time from salaries, cost of living to pretty much anything. A packet of 20 B&H was less than £1 in 1990 and now they are over £6. Granted houses have gone up more than many other things, but exponential increases are not exclusive to the housing market. Edited 23 January, 2011 by Johnny Bognor Link to comment Share on other sites More sharing options...
Jonnyboy Posted 23 January, 2011 Share Posted 23 January, 2011 Liquid dependant on your age, the stress of trying to pay a mortgage you can not afford, sometimes just is not worth it, if there is any chance of redundancy or your rates going through the roof, they do not pay your mortgage for the first 9 months (hope you have insurance I found that out the hard way first time i was made redundant), and the good old Northern Rock are the first ones to come gunning after you, the dole office are after you to take any job, regardless if you can pay your bills when you take it , at least in rented accommodation the council will pay your rent or get rent relief if your on low pay. ie pay your landlords mortgage Its funny how if you have a mortgage and get made redundant you get no help Link to comment Share on other sites More sharing options...
dan17 Posted 24 January, 2011 Share Posted 24 January, 2011 Dan, have you ever spoke to a mortgage advisor about your situation? I keep being told to by people but I never have because I'm convinced nothing can be done. What advice have you been given if any? I have spoken to a couple of mortgage advisors, but they have basically said that due to our loan to value rate, we wouldnt be able to get another mortgage at the moment. I have also spoken to a financial advisor who bascially said 'two choices - sit it out and hope for the best, or sell up and pay off all debt and start renting somewhere'. Both options worry me.......... Link to comment Share on other sites More sharing options...
hamster Posted 9 February, 2011 Share Posted 9 February, 2011 Worth a bump. a very friendly service. Link to comment Share on other sites More sharing options...
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