Author Topic: house in Northern ireland but living in england  (Read 1649 times)

johncarlin80

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house in Northern ireland but living in england
« on: May 11, 2020, 01:15:32 PM »
hi. bit of a tricky one here, i've phoned various help line but no one can seem to give me a solid answer, here goes.
So i own my house which is in northern Ireland i have recently moved to England and i am renting my house out, my house is in approx 60K negative equity, this is why i didn't sell it, I am taking a loss on the mortgage compared to the rent i receive of about £200 per month, the house is just draining my money now and if i need to repair anything it will come out of that months rent which will leave me even more out of pocket. i just don't know what to do for the best, i just want rid of the house no matter what now. does anyone have any advice for me?

polly

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  • Posts: 9
Re: house in Northern ireland but living in england
« Reply #1 on: Jun 03, 2020, 01:41:39 PM »
If the house is in that much negative equity you are just throwing good money after bad.


I would suggest you stop making the mortgage payments, let the lender repossess the property and walk away.


There is lots of information to be had regarding this on the internet.