Buy to Let / Fundraising for Samaritans

Chez_Guevara

The trabant is, of course, 'thousand wash underpant grey'.

And with regard to less than - it's a long-term tenant who's a personal friend. That's worth getting £100 a month less on the mortgage!

OK, thanks for your answers - looks like if I want to keep the properties (which I do - need to keep the one I'm in now, cos it's much cheaper to live in - but would like to move back into the other house once I've got myself sorted out) then I have to look at an alternative to bankrupcy.

Thanks everyone.

maxmycardagain

rent me a place at a loss, ill be your friend too

lisamummytoarchieplusbump

even when i rented the house off my mum i gave her what the mortaged cost her. must be a good friend then to basicly pay them to stay in your house

Chez_Guevara

Not really - I needed to rent the place out quickly or hand back the keys. They wanted it, but could only afford £550. When I bought it, I never had any intention of renting that house - it was my home - but had little choice. Needed to get rid of the bills (council tax, water, gas, electric etc), not just the mortgage! But at the same time, I absolutely love that house, so didn't want to get rid of it - I still hope to move back there at some point once the dust settles and I get myself sorted.

The market rental is only probably about £600 anyway. Renting it out saved me about £900 a month in total bills, and as I said I'm getting £300 excess on the house I'm now living in from renting out individual rooms - and I already pay the council tax and water rates here. Net cost:

my old home: monthly loss of £100
Where I'm living now: monthly profit of £300

Which means that I'm living here in my shared house for 'nothing' and getting about £200 extra towards the bills. And I get to keep my old house until things get better.

Plus a tenant in my old home, who I know is going to look after it, will pay their rent every month without fail and will want it for as long as I let them have it. Yes, I could have got another £50 for it on the open market, but you simply don't know who you're going to get! And they only have to miss one rental payment...

So I'm not quite as daft as I sound!

Chez_Guevara

By the way - have just posted this on the main forum, but thought it might be useful for some of you out there.

Don't know if this is the relevant forum to put it in, but here's some interesting news that you may not know about.

I was really struggling to pay everything each month, so I rang my mortgage lender - C&G - to ask them about the possibility of a payment holiday. I thought if I could just get a month's grace, it would really help.

They amazed me by saying that I could have a 6-MONTH payment holiday, without it affecting my credit file. They roll the interest up and add it to your loan, so in effect, it's like taking out a small further advance.

But this has been incredibly helpful to not have my mortgage to pay for 6 months in this difficult time.

If anyone has a C&G mortgage and are struggling at this moment in time, give them a ring - it may well be worth your while.

dalip

He he maybe you are actually work for them:rolleyes: Chez Guevara and your mortgage is with C & G:rotfl:

Chez_Guevara

Hehe! No, sorry - am an independent mortgage broker.

No Dan Brown-esque type conspiracies here!

coolcait

Chez_Guevara wrote: »

Hehe! No, sorry - am an independent mortgage broker.

No Dan Brown-esque type conspiracies here!

I know that this will 'out' me as a words groupie

But I do find it difficult to believe that someone who comes up with a board name as fabulously playful as 'Chez Guevara' would simultaneously use it as a crass 'C&G' reference.

If I am wrong then, sirrah, you should be ashamed of yourself for abusing innocent words in that way!! :rotfl:

(Sorry I can't be of any practical help with your situation though )

Chez_Guevara

Why is my user name Chez Guevara...

In short, my personal hero is Che Guevara. And a long time ago, I was going to open an Ebay shop - and came up with the name Chez Guevara - pun on Che / Chez (French for 'home of', in case your French is a bit rusty!). The Ebay shop never happened, but I decided to stick with the name and Chez Guevara is now my nom de plume.

And if you don't believe me, you can visit my website, Smells Like White Spirit at http://www.chezguevara.com, an irreverant look at life as I see it.

And to be quite honest - if I DID work for C&G - what actual benefit is it to them if you don't pay your mortgage for 6 months? You owe them more money afterwards? Well, seeing as my house is already in negative equity (and I'm posting on a 'thinking of going bankrupt' forum) that's only going to leave them more exposed!

Chez Guevara - the man, the myth, the maverick.
Coming at you like a bag of c0cks.

maxmycardagain

i think ill stick to BLT and leave BTL to the clever guys

"turnover is vanity, profit is sanity"