Selling house Cash Flow problems
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thechaosengine
Posts: 2 Newbie
in Loans
*New to the forum so please be gentle*
I have a jointly owned house (both on deeds and mortgage) and we are selling it. We have agreed to do this in mediation and are awaiting the agreement to be turned into a Deed of Separation by our solicitor. She is also to handle the conveyancing. I am also due some inheritance when my mothers house is sold,
I currently have serious cash flow problems and am looking for a new IT contract.
I have a poor credit rating and therefore having spoken to my bank (Nat West), they do not think they can help.
I am due £30k from my mothers house and £100k from the equity shared 50/50 from our house.
I have looked at bad credit unsecured and secured loans and the interest rate seems extortionate although I should be able to pay back within 3-6 months.
Are there any recommendations on what I can do to alleviate the cash flow problems for the next 6 months?
I have a jointly owned house (both on deeds and mortgage) and we are selling it. We have agreed to do this in mediation and are awaiting the agreement to be turned into a Deed of Separation by our solicitor. She is also to handle the conveyancing. I am also due some inheritance when my mothers house is sold,
I currently have serious cash flow problems and am looking for a new IT contract.
I have a poor credit rating and therefore having spoken to my bank (Nat West), they do not think they can help.
I am due £30k from my mothers house and £100k from the equity shared 50/50 from our house.
I have looked at bad credit unsecured and secured loans and the interest rate seems extortionate although I should be able to pay back within 3-6 months.
Are there any recommendations on what I can do to alleviate the cash flow problems for the next 6 months?
0
Comments
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Sorry to hear what you're going through. As to where to go, depends on how much would allevaite cashflow really. Anything secured against the house will require both owners permission. Anything unsecured will be expensive but for a few months less stress may be worth while?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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High APRs are a consequence of a poorly-managed credit history. If by recommendations you're wondering if there are any low-APR loans for people in situations such as yourself, then no, there aren't."Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."0
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