I'm looking for some advice regarding a potential move. My husband and I bought our house in 2007 during the height of the property boom, its a three bedroom ex council house that we paid £130,000 for. Nearly 5 years later we are drastically out growing it, as we have a DD and DH now has a business from home.
Another reason we need to move is that we live 20 miles from my parents who will be looking after DD when I return to work so it makes sense that we are closer to them for schools etc.
We haven't yet had our house valued but a house of not as good standard (we totally renovated ours) down the street went for £100k a month ago.
So if we got the same we would be in £30k negative equity. Would the bank even consider letting us move, I have it in my head I want to move so much, I'm scared to speak to the bank incase they laugh in my face, has anyone else managed to move despite being in negative equity? We couldn't possibly save 30k to pay it off....
Advice is appreciated.