Selling House In Negative Equity Advice

When you realise your property value is less than your outstanding mortgage balance, selling your house in negative equity might be your initial reaction to get rid of the problem and start over again. 

We get asked all the time – can I sell my house in negative equity?

The problem arises when you haven’t got enough funds out of your house sale to pay off all of your mortgage balance.

It is in fact illegal to put your house up for sale when you know your property is in negative equity. When a property has a mortgage or secured loan on it, this is security for the lender and the property cannot be sold without their permission.

If there is very little difference between the value and mortgage, you could discuss selling the house with your mortgage provider first, to see 8f they will give you permission to sell. Any shortfall realised will have to be paid by you.

There Is A Better Way Of Selling A House In Negative Equity

If you have a large amount of negative equity, you will need to explore other more suitable options.

That is where we come in!

Want to know your options? Want to get released from the burden when there seems to be no solutions?

Get in touch for a completely free no obligation chat regarding your own specific financial circumstances now.

See also legally writing off negative equity.

Negative Equity Mortgage Solutions

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Write Off Your Negative Equity Legally

The second option is finding out about being able to write off your negative equity legally for a fraction of the total amount. Option 2 - Write Off Your Negative Equity Legally So you now realise that you are in property negative equity and that you need to do something right about it. Again, it really...

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Negative Equity Rental Property

It is a different matter when you have a number of negative equity rental property to deal with, instead of just your own home. Option 3 – Negative Equity Rental Property When you are dealing with a number of rental properties that are in negative equity, it would be unwise to use the method we suggested...

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Bankruptcy the Only Option?

The next thing to consider is if bankruptcy the only option. Option 4 - Is Bankruptcy the Only Option? When you are in circumstances where the debt levels are very high, then bankruptcy might well be the best legal option for you. There used to be a terrible stigma associated with bankruptcy, but since the...

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Property In Negative Equity Need To Sell Your House?

Property In Negative Equity Need To Sell? - there could be a number of reasons why you need to sell your property, but you cannot because of negative equity in the property you want to sell. Find out more about selling a house in negative equity by reading on. Why You Need To Sell Your Negative...

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Interest Only Mortgage Time Bomb About To Explode?

Interest Only Mortgage Time Bomb - are you one of the 1.9 million households in the UK that have an interest only mortgage? Those that are in the position of having interest only mortgages are risking having to sell their homes when their mortgage deal comes to an end. This is because they are not...

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