"I live in NI and have been unable to get remortgage as need 95%ltv. I thought my house was worth about 150k (height was around 200k paid 110k two years ago) but when mortgage company valued it it only came in at 115k. You really dont know what its worth until you have the house valued."


I would've thought that should read, "You really dont know what its worth until you have SOLD THE HOUSE."


It gets better,

http://forums.moneysavingexpert.com/showthread.html?t=1067447

"Hi

I wonder if anyone can help with any advice please. I have a buy-to-let which come to the end of its mortgage term next month. The property has gone into negative equity by about £15-20k (if I could sell it!). I don't have the money to cover the short fall and I can't afford the higher rate with the bank. I can't go to another bank as they would not give the amount of the mortgage repayment to the present lender.

Now, I have been writing to the bank for 2 months now explaining the situation and trying to offer solutions. However, they won't entertain anything other that the full repayment on sale or for the payments to carry on at the higher rate. I have asked what will happen if I sell at a lower cost and try to sort paying them the remainder in slow time and they have stated that they will not release thier charge on the property so a new buyer will not be able to register the property!!!

I can't do anything from what I can see. I can't afford the new payments and will go into debt by about £200 per month from the time of the new payments. I can't sell as the bank won't allow it.

I put my hands up to them that I made a bad decision from a mortgage miss sell. I was talked into a "bargin" that has gone bad. I accept I am responsible but I can't see any light.

Any positive advice would be useful"

I bet it would.