Negative equity and want rid?

Negative equity and want rid?

14:45 PM, 19th July 2017, About 5 years ago 9

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I own a two bedroom apartment in Leeds city centre. I am in negative equity and I want to get rid of it.

Does anyone know of an organisation that will just take it from me and they carry on paying the mortgage.

Any advice will be most welcome

Thank you



by Neil Patterson

11:21 AM, 20th July 2017, About 5 years ago

As long as you are the owner of the property and party to the mortgage you are jointly and severally liable for the loan repayments. Therefore, it would be very dangerous to hand over this responsibility especially if you are not collecting the rent.

by Neil Patterson

11:23 AM, 20th July 2017, About 5 years ago

Plus as your mortgage is being repaid still from rental income then you will still have to account for this for tax purposes to HMRC as you are technically still in receipt of it.

by Robert Mellors

14:14 PM, 21st July 2017, About 5 years ago

I can't see any reason why anyone would take over paying the mortgage, as ownership would still be yours.
As I see it, your only options are to sell the property, or rent it out.
If you are in negative equity then the mortgage lender may object to a sale, so you need to find a way of paying off enough of the mortgage so as to remove the negative equity (and thus remove any reason for the lender to object to its sale).
If you rent it out, then the rental income can be used to pay the mortgage, and if the rental income (or any other income) is enough then perhaps gradually pay down the mortgage. If you are having trouble finding a tenant, or managing the tenancies, then you could perhaps lease the flat to a local housing association.
If the rental income does not cover the mortgage, then there is little option but to pay the difference from your other income.
Also be aware that your rental income will be taxed, so you need to make yourself aware of how the Section 24 tax changes will affect you when you get your tax bill next year.

by Alison King

15:48 PM, 21st July 2017, About 5 years ago

You may be able to find someone looking for a rent to rent arrangement. That way they will take total responsibility for the property and you will have a guaranteed and predictable income. You would need to discuss this with your mortgage lender though, if you have one, to make sure they are in agreement. You would also need to check any conditions on the lease to make sure that would be OK.

by leonardo

19:03 PM, 21st July 2017, About 5 years ago

There is company , called invictus , that carry out this instruction on taking over negative property as a module they will also pay you a fee on this
Call richard sheppard on 07947508194 to clarify


8:16 AM, 22nd July 2017, About 5 years ago

Who would want to take on a mortgage liability in excess of the value of the property. There would surely be better alternatives available to any prospective investor.


14:39 PM, 22nd July 2017, About 5 years ago

Hi Peter

Please email me your contact details to or call 01902 710510

I may be able to help

Venture Holdings

by Mark Evans

23:31 PM, 22nd July 2017, About 5 years ago

Hi Peter

Please send me your details: I'm pretty sure I will have a solution for you.



7:48 AM, 23rd July 2017, About 5 years ago

Hi Peter,

Speak to a company called Landlord Debt Advisory. They are FCA regulated and specialise in assisting landlords in these exact situations.

Their number is 0161 222 4311.

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