Your options are either to sell the house, but like you say that could take months (but how do you know til you see an estate agent - its a first time buyers place, so its easier to sell), or rent it out. Perhaps a better option. If the rent covers your mortgage repayments, then thats fine.
But walking away will create more problems that it would solve. As well as your current personal problems add to them you ending up with bad credit and being hounded by your lender / bailiffs etc for outstanding payments. You would end up in court (and you don't have to be present for the case to go ahead). Moving abroad won't stop them finding you either. And having bad credit in the UK, means bad credit everything else in the world.
Im not struggling to keep up repayments, ive just had enough, and whist selling is the obvious answer, im guessing it will take months maybe years to sell in this current market
Walking away from a problem never solves it. In fact it usually worsens the situation. Problems are there to be solved and almost all can be sorted. If you are having problems keeping up the payments talk to the loan company now. They may be able to extend the period to reduce payments or allow you a payment 'holiday'. Owning your own property is an achievement that not all can manage. So if possible stick at it as it always gets easier.
sell it you can pay off what you owe and may have some left to help you make a new life
This debt will follow you for the rest of your life. No phone contracts, problems with car insurance, loans, rentals and opening a bank account. and so on. Do you really think you can live in another country with no money and no job for the rest of your life?
UK
Don't. The debt will still be there and could follow you wherever you go. Selling is a better option. Get that sorted and then travel/move.
I have a mortgage on one bedroom apartment, i paid ￡15,000 deposit and owe ￡58,000. Things have got quite bad in my personal life lately and im considering walking out and moving aboard. Any advice?
