30 Oct 2015 10:07 AM:

Thanks for the info. To be honest I just can't see any other way out at the moment! The area the house is in is low on rental properties at the moment with proffesional people looking for properties. Sometimes I wish we had never moved to Spain!!! 

Thread: Changing to interest only mortgage

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30 Oct 2015 8:20 AM:

Hello there I am new to the forum.

I want to sell my house in Los Barrios but after having the house valued I find that we are still in negative equity.The estate agent suggested renting the property out for a couple of years then look again at selling. The rent will not cover the mortgage payments! Arghhhhh bangs head against wall!!! 

So....I am now considering going onto an interest only mortgage for a couple of years so that I can still rent the property out as suggested. Has anyone else done this? Is it a costly procedure and will I be hit with crazy repayment costs after the two years?

Many thanks in advance Tracy

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Thread: Changing to interest only mortgage

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