selling property in negative equity

[Navydog]

Hello all,

Looking into moving into married quarters due to the fact that at present i will be £500-£600 better off a month. Plus living in a flat, i do not have access to a private garden for my 1 year old.

At present i am currently about even, maybe even slightly above in value. but its the £5500 early resettlement thats going to sting.

ive just been released from bankruptcy.

what are the options available to me? Will the mortgage finish as its sold? where will the remaining debt go?

Ive searched the internet but not really getting any answers.

I know speaking to my mortgage company is next but i'd like to have a little info before i take the plunge

Massive thanks as always in advance [:D]

[plasticdaft]

Could you swap to a buy to let mortgage and rent the flat out?

You will still be due to pay whatever is the shortfall after the property is sold.

Paul

(I wish I had done a buy to let for the 16 years I was paying peanuts for my RAF quarter!!!)

[Navydog]

not sure i will be given a quarter if i have my own property less than 50 miles away unfortunately

was thinking of moving it into my parents name and then renting but not sure if that will work

[plasticdaft]

Think your parents would have to be on the mortgage then would they not?

[Navydog]

not to sure. thats why ive come in here to ask