Bought Off Plan....but Cant Afford It Now!!! Please Help!!!

trinity_bleu

redrabbit29 wrote: »

Threads like these do bring out the worst in MSE.com.

We've covered the fact that the OP made a silly decision. Some say greedy, selfish, but we've covered it extensively none-the-less.

I think what the OP needs is a bit of help rather than numerous similar threads having another pop.

I agree with posters on here having their say, some quite rightfully, but I do think it has been exhausted now.

Well said.

Hope you get some sound advice today Amitabh1. Ignore the bitter (as you have done) - I admire your ability to respond civilly to everyone.


BTL is not a new phenomenon. 50 years ago families would rent a room in a terraced house - 3 or 4 families to a house. Now, we all seem to want to own the whole house, and also fill it with gadgets and possessions.

If that's what you want to do, go ahead. Get a mortgage, buy what you can afford and cut back on all extras to make ends meet.

If you don't, rent, stop whinging and enjoy spending your money on "stuff".

Your choice.

BTL landlords are entrepreneurs.

puddy

let us know how you get on at your solicitors

Eskimo12345

Wow, I've got to page 4 and can't read any more of this.

To the OP, bad luck mate. Very bad luck.

Hope it all works out dude.

neverdespairgirl

GDB2222 wrote: »

1. Your liability is far more than the 15k deposit. It's the full loss on the two flats.
2. Transferring your house out of your name into your wife's name is not going to help you, as NDG said. (You can't really think it is that simple, surely?)
3. You don't necessarily get a choice about becoming bankrupt. Why should a creditor have to put up with uncertain instalments if you have a house he can get his hands on instead?
4. The Land Registry is so transparent that it is easy for creditors to see what you have done. They only have to pay £3 to get the information.

I completely agree with points 2, 3, and 4, but point 1 is the worst-case scenario, it won't necessarily happen. It depends on the circumstances, contract, etc.

RabbitMad

amitabh1 wrote: »

....and which posts may they be??

amitabh1 wrote: »

....At the time when i signed up for the properties i was in a slightly better position. Since the Tesco opened near my small corner shop, my business has gone down the drain, ive had to lay off my worker and doing 16 hour daily shifts.

amitabh1 wrote: »

....Sorry for not keepin uptodate, was kids first bday yesterday so decided to de-stress myself- not go work and not log on.

So you closed your cornershop on a Tuesday when you're in finacial difficulty? This is the problem with making it up on the fly, you forget what you've already said.

I think it was the corner shop comment that convinced me you were Trolling (along with the roller coaster nature of this thread, suddenly having rich stupid friends to buy your flats who went to Uni with you yet you run a corner shop?) as I know that Generali's LL is runs a corner shop. Infact are you Mr G having a final play with us on the forum before you're off to see the wizard?

amitabh1

RabbitMad wrote: »

So you closed your cornershop on a Tuesday when you're in finacial difficulty? This is the problem with making it up on the fly, you forget what you've already said.

I think it was the corner shop comment that convinced me you were Trolling (along with the roller coaster nature of this thread, suddenly having rich stupid friends to buy your flats who went to Uni with you yet you run a corner shop?) as I know that Generali's LL is runs a corner shop. Infact are you Mr G having a final play with us on the forum before you're off to see the wizard?

Seriously some of you guys really amaze me. Honestly. There are ppl here who 'dont feel sorry', 'do not sympathise', etc etc. There are others who i believe have nothing better to do other than minutely observe everyones posts to discover 'discrepancies'.
Look mate, I CAME HERE FOR ADVICE!!!!! Is that to hard for you to understand?? Not for sympathy and certainly not for a 'Mad Rabbit' to spy on me.
1) I took a day off after 2 years of working every single day, including sundays, christmas, birthdays. This was my boys first bday and i decided to close. Difficult times come and go. He aint gonna be one again. Did you read fully what i said or just picking what you can include in your 'investigation'?

2)And can someone coming out from uni not work in a shop??? I graduated when i was 22. Got married and the whole asian honour issue fell on me which i dont want to go thru here. Due to my very difficult personal circumstances i had to find work asap (some of us need to put food on d table). I found a good place, through which i bought my house and which supports my family.

3)It doesnt mean that if im struggling i cant have wealthy friends...you truly amaze me. That comment was in reply to a good person here who gave me the advice of trying to sell the flats off. I was already thinking of that. It just so happened that i mentioned it once he prompted me too. So no, they didnt just pop out suddenly.

4)i asked before, ill ask again...can you explain what is trolling?? And sorry Im not Mr G and certainly not seeing any wizard. Sorry to disappoint you.

Im sure you've got better things to do than initiate a daft investigation of whether im me or Gienvalli or whatever.

Thank you anyway.

CluelessJock

Afternoon amitabh, How did you get on with the solicitor yesterday? PM me if you don't want those with nothing better to do than troll threads to find fault to disect your advice.

RabbitMad

amitabh1 wrote: »

4)i asked before, ill ask again...can you explain what is trolling?? And sorry Im not Mr G and certainly not seeing any wizard. Sorry to disappoint you./quote]

Try looking it up http://www.google.co.uk/search?hl=en&q=trolling&meta=

Its called research and its what you do if you don't know something.

amitabh1

RabbitMad wrote: »

amitabh1 wrote: »

4)i asked before, ill ask again...can you explain what is trolling?? And sorry Im not Mr G and certainly not seeing any wizard. Sorry to disappoint you./quote]

Try looking it up http://www.google.co.uk/search?hl=en&q=trolling&meta=

Its called research and its what you do if you don't know something.

Thank you, now i know what trolling means. Hopefully it'l get me out of this mess. Thank you for enligtening me.

Troubled_Joe

So how did it go with the solicitor?

I'm genuinely interested as I regularly act for a developer client and have been on the other side of circumstances like yours.