Hey smiley, any comments on this. Over the past couple of weeks I have had 3 vendors who desperately need to sell and go back to the UK. I feel very sorry for them as they are selling their houses at a really low prices.
Each one of the 3 without any promting from me asked my opinion about mortaging their houses to a maximum 80% (non have mortgages at present) then just running back to the UK without paying and repayments whatsoever!!!
If they sell their properties the usual route they will make less for themselves due to taxes, agents fees etc.
I was a bit astonished at the desperation as non of these people would normally do such a thing, they are very desperate.
I suspect this is going to be a trend if things don´t get any better.
I made a suggestion that they could leave a years repayment in the bank from the re-mortgage and hope the property sells before the year is up but they seemed reluctant to lose any more money!!!
Do you have any of your wisdom to add to this smiley, I can´t think of a worse thing to have to do, but there could be a few EOS watchers out there contemplating the same thing.