The buy-to-let we bought in 2007 is still in 消極的な 公正，普通株主権: How do we get out? DAVID HOLLINGWORTH replies

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My wife and I 購入（する）d a buy-to-let 所有物／資産／財産 in 2007 and it has turned out to be the worst 財政上の 決定／判定勝ち（する） of our lives.?

We bought it for £155,000 with a £35,000 deposit, leaving us with a £120,000 mortgage. But the 後退，不況 攻撃する，衝突する すぐに after, and its value 急落するd to £75,000.?

The mortgage was 最初 利益／興味-only but three years ago we moved to a 返済 mortgage to try and 減ずる the 負債. We have never 行方不明になるd a 支払い（額）.

This 所有物／資産／財産 continues to drain all our 財政／金融s and I cannot 表明する to you the 消極的な 衝撃 this has had on our lives. It has given us many sleepless nights.?

The mortgage 率 has recently gone up to 8.74 per cent (£949.07 per month) which is no longer 維持できる for us. As we are in 消極的な 公正，普通株主権, we can't switch to another bank.

Mortgage help: Our 週刊誌 Navigate the Mortgage Maze column sees 仲買人 David Hollingworth answering your questions

We also 支払う／賃金 around £150 in 管理／経営 and スパイ／執行官 料金s, and the rent we make from the 所有物／資産／財産 is £500 per month.

We've considered 手渡すing 支援する the 重要なs to the bank but as we still have a mortgage on the home we live in, we are 関心d about the 衝撃 on our credit とじ込み／提出する.

That mortgage has an 優れた balance of £94,000 and is 現在／一般に on a 1.94 per cent 率 (£702.84 per month). The 取引，協定 ends in July. It is 25 per cent 貸付金-to-value.

Should we refinance our own home to try and get the LTV 負かす／撃墜する on the other nightmare mortgage? Could we 返す small lump sums to try and （疑いを）晴らす it??

SCROLL DOWN TO FIND OUT HOW TO ASK DAVID YOUR MORTGAGE QUESTION??

David Hollingworth replies:?消極的な 公正，普通株主権 is a phrase that will fill any homeowner with dread. This is when a 減少（する） in house prices means a 所有物／資産／財産 is 価値（がある） いっそう少なく than the size of the 優れた mortgage.?

House prices go up and 負かす／撃墜する all the time, and 消極的な 公正，普通株主権 will often not 原因（となる） an 即座の problem. Where the mortgage remains affordable, and the owner is happy to stay living in the house, there is no need to crystallise any loss.?

But if that changes and there is a need or 願望（する） to sell, it can mean having to find 付加 基金s to cover the 優れた 負債.

It can also mean homeowners find it difficult to get a new mortgage at a reasonable 率, as you have 設立する.??

The sharp 落ちる in prices に引き続いて the 財政上の 危機 has 明確に 影響する／感情d the 選択s 利用できる to you. によれば 全国的な's house price 索引 普通の／平均（する） prices in Northern Ireland, where you live, 頂点（に達する）d in 2007 but fell はっきりと in 2008 and beyond.

There has been 改良 in 普通の／平均（する） prices over time, so finding out the 現在の market value of your 所有物／資産／財産 will be 批判的な. 捜し出すing advice from your スパイ／執行官 and others will help you get an 正確な picture.

It's a good idea to consider the position in the 一連の会議、交渉／完成する, and 手渡すing the 重要なs 支援する will not rid you of any 優れた 義務／負債. It is therefore important to consider what 選択s may be open, not only for the 投資 所有物／資産／財産 in 孤立／分離 but also on your main home.

> True cost mortgage calculator: Check what a new 直す／買収する，八百長をするd 率 would cost?

罠にかける: As our reader is in 消極的な 公正，普通株主権, it means they can't switch to a different bank and are therefore at the mercy of the 利益／興味 率s their 現在の bank 申し込む／申し出s

Should the sell the buy-to-let 所有物／資産／財産?

Importantly, you've kept up with your mortgage 支払い（額）s even though the 賃貸しの income is not covering your costs.?

It's very ありふれた for buy to let 投資家s to take the mortgage on an 利益／興味-only basis, preferring to 返す it when the 所有物／資産／財産 is sold.?

Your 決定／判定勝ち（する） was not an unusual one, but by not 減ずるing the 負債 over time, it means that the big 減少（する） in value has left you その上の underwater.

It looks like your buy to let mortgage is on a 基準 variable 率. The fact that you 推定する／予想する to still be in 消極的な 公正，普通株主権 means that you can't shop around the entire market and get a 率 that makes your 支払い（額）s more manageable.?

You could talk to your 貸す人 about 選択s for 存在するing 顧客s, though. Many 貸す人s will have 代案／選択肢s for their 存在するing 顧客s even when the mortgage 越えるs the 所有物／資産／財産 value.?

They may be able to 申し込む／申し出 a わずかに lower 率, though this may mean having to agree to 早期に 返済 告発（する），告訴（する）／料金s so make sure that fits in with your 計画（する）s.?

Anyone 直面するing difficulty in 会合 mortgage 支払い（額）s should talk to their 貸す人 as they may be able to 申し込む／申し出 代案／選択肢 選択s to help navigate the 状況／情勢.

> What next for mortgage 率s and should you 直す／買収する，八百長をする for two or five years??

House price 衝突，墜落: Our reader 購入（する）d the buy-to-let 所有物／資産／財産 just before the 2008 財政上の 危機 during which the 所有物／資産／財産 halved in value

Can their main home 相殺する buy-to-let losses???

There are a few moving parts, but the タイミング is 権利 to consider your 全体にわたる position 含むing the mortgage on your home.?

You've had a low 直す／買収する，八百長をするd 率, but that is coming to an end and will 増加する 予定 to the higher 率s now in play.?

Where the buy-to-let is at a very high 貸付金 to value, the position is very different on your main 住居 where you have 75 per cent 公正，普通株主権.

That will give you 接近 to the best 率s on the market - but it also means that you have 公正，普通株主権 that you may be able to 解放（する）, which could 改善する your 全体にわたる 財政上の position.

If your income can support larger borrowing on the main 住居, this could enable you to borrow more -? whether with the 存在するing 貸す人 or from the open market.?

If you then decide to sell the buy to let, the money 解放（する）d could 許す you to cover any 不足（高） if the sale 達成するs いっそう少なく than the 優れた mortgage.

Alternatively, you might decide to use any money 解放（する）d to 支払う／賃金 off some of the buy-to-let balance, which could open up 接近 to better buy-to-let 率s.?

Buy to let 貸す人s will still need to see that the 賃貸しの income will cover the mortgage 利益／興味 by a big enough 利ざや, so you'll need advice to get the 権利 balance.

The latter 選択 would leave you with the same aggregate borrowing, but may help 減ずる the total 月毎の 去っていく／社交的な, if you want to keep the 所有物／資産／財産.

Selling the 所有物／資産／財産 will crystallise any loss, but could give you greater peace of mind, if you are able to manage any 付加 borrowing 要求するd to cover the 不足（高）.