House prices will fall by 4.5% next year
4 years ago
Long term negative equity problem?
9:20 AM, 26th September 2022, 4 years ago
8
Categories:
Hi, I have had a one bed flat for the last ten years, but it has not increased in value. The last tenant been in it for 4 years now.
The rent has not increased for at least 7 years.
So, negative equity ever since.
I cannot change BTL mortgage so interest rates have gone up 7 times this year. I’m only just scraping by financially.
Service charge on property is also extortionate in comparison!
Similar properties in area selling at loss so decided not to sell as mortgage outstanding is more than the property is worth.
Need advice if anything I can do to get out of this situation.
No profit being made, just costs being paid.
Thanks.
Ghazala
8 comments on this article
Comments are for Members. Sign in or join free below to read them and have your say.
Previous Article
House prices fall by as much as £13,000 a month in some areas
Have Your Say
Every day, landlords who want to influence policy and share real-world experience add their voice here. Your perspective helps keep the debate balanced.
Not a member yet? Join In Seconds
Login with