I live in a 2 bed house with a loft room and owe 62000 mortgage 25 year 9 years into it and only on interest only. I want to sell but negative equity and only going for around 35000 mortgage lender wont allow me to negotiate shortfall. I want to rent privately and can ge some help with c tax and housing ben as only work pt. Council say to get this however i would have to intend to sell but cant advertise if valued at a price below mortgage. Shelter wont help as not threatened with homrlessness and council wont assist me as only 4 bed properties thy have are in undesireable areas. Potentially i may have to pay fir a house i wont be living in for 16 years and still have outstanding mortgage at the end. Cant rent ours out either as cannot afford landlord insurance or repairs. Our eldest son has learning difficulties and needs his own room and my wife is pregnant with our fifth child which was massive surprise. Sensible advice only please. I live in north east england.
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