Negative Equity

Hey guys, couldn't find this dealt with elsewhere but think I know the answer anyway!
Is there any chance of switching mortgage provider when you have negative equity ?
Bought house in Oct 2007 and presuming its valuation has come down slightly - though not as much as other parts of the country, its Dublin 12.
Anyway mortgage was fixed for 3 years at 5.25% with Ulster Bank. No point in going variable with them as the current variable rate is 6.4%.
Cheers,
phantom

think ya might be wrong on the variable rate..

chrisboy said:

think ya might be wrong on the variable rate..

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Checked it on their website chrisboy. Do you have some other figures ?

phantom60 said:

Is there any chance of switching mortgage provider when you have negative equity ?

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I'm afraid not.

phantom60 said:

Hey guys, couldn't find this dealt with elsewhere but think I know the answer anyway!
Is there any chance of switching mortgage provider when you have negative equity ?

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No chance imo as you are effectively looking for a 100%+ mortgage. Here are some [broken link removed] available and as you can see most of them are for LTV of <= 80%.

demoivre said:

No chance imo as you are effectively looking for a 100%+ mortgage. Here are some [broken link removed] available and as you can see most of them are for LTV of <= 80%.

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Thanks and well done Demoivre. This is one of the best links posted on AAM. I would recommend members save it into "Favourites" on their computers. Saves us all having to do a lot of searching.

Lex Foutish said:

Thanks and well done Demoivre. This is one of the best links posted on AAM. I would recommend members save it into "Favourites" on their computers. Saves us all having to do a lot of searching.

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It's not an exhaustive list though as it doesn't give every available rate on offer on the market.