Vulture fund have offered me a discount to settle a buy to let in Negative Equity

Should I stop paying the mortgage and see what happens?

It's likely that the rental income is well ahead of the interest cost, so probably not.

If the lender knows that you have other assets, they probably won't do a deal.

And, of course, you will wreck your credit record, if that is important to you.

Brendan
 
The rental income is ahead of the interest cost, but why is that relevant, I am in business to make a profit.

I dont have other assets that the lender could easily access. I have other property but it is mostly mortgaged to other lenders.

The damage to my credit record is a consideration, but I am unlikely to need any significant future credit.
 
The rental income is ahead of the interest cost, but why is that relevant, I am in business to make a profit.

Eh, that is what a profit is!

When the income exceeds the costs.

Particularly as you are in deep negative equity, this is a real profit.



Brendan
 
Eh, that is what a profit is!

When the income exceeds the costs.

Particularly as you are in deep negative equity, this is a real profit.



Brendan
I don't understand the point here. You asked if the rental income is ahead of the interest. It is. I don't understand how that is that relevant ?