Negative equity

[scotty1981]

Hi there, as the title says i have a problem with negative equity my brother and i bought a house 2 years ago the 3 years fixed rate is up in february but now my partner is pregnant so we need to sort living arrangements out but unfortunately the house is now worth about 20 grand less than it was so selling up and goin our seperate ways really isnt an option what options are available to us?

 

[LDFerguson]

Have a look at this key post.

 

[Grace80]

Regardless of the negative equity amount (which in your case is quite low), chances of selling the property in the short term are slim.

My advice would be if it is financially possilbe for you to hold onto the property for the moment and yourself and your partner rent somewhere new. Your brother could rent out your old room.