Really need some advice, in some trouble...

grayz

compact101 wrote: »

1) Ask parents
2) Ask friends
3) Ask bank for loan
4) Sell and see if you can get a loan for the shortfall
5) Maybe a 2nd job evenings/weekend to help pay. Will kill you in the shorterm, but if you can survive a few months then it will be worth it.
6) Don't default on payments and don't let them take the flat (sounds easy I know but try everything possible, which I am sure you are doing)

Thanks for reply. Im trying to get an evening job at the minute, trying all the local supermarkets but all have gone, will not give up on it though.

Thing is, I don't want to lose the flat but my ex is set on defaulting, I have told the mortgage lender this and that I am still willing to stump up my half and that I need other options, but they are giving me none...

latecomer

Is it let out or are you staying in it?

Radiantsoul

If you aren't living in the flat I would consider giving notice to your tenant and selling the property to repay as much as possible. Otherwise the falling prices are going to make it tougher.

grayz

latecomer wrote: »

Is it let out or are you staying in it?

letting mate

grayz

Radiantsoul wrote: »

If you aren't living in the flat I would consider giving notice to your tenant and selling the property to repay as much as possible. Otherwise the falling prices are going to make it tougher.

Thanks for reply. Tennancy agreement is up at end of February, so maybe going up for sale then...

latecomer

Could you not put it on the market while its still occupied? Perhaps not ideal but by the sounds of it the sooner the better for you.

sammyjammy

How much short is the rent to cover the mortgage payment? IS the mortgage on interest only.

The mortgage company won't have much sympathy in this situation, if you owned the flat as joint tenants then they don't care whether all the money comes from one of you or 50% from both.

silvercar

grayz wrote: »

Thanks for reply. Tennancy agreement is up at end of February, so maybe going up for sale then...

The lender won't let you sell unless you can find the money to clear the mortgage.

arianrhod

Graham,

Don't forget that there is free and confidential advice available at
http://www.nationaldebtline.co.uk/

There are enough pressures involved in raising a young family without additional financial worries. Contact the above helpline, they may be able to help.

Good luck.

grayz

arianrhod wrote: »

Graham,

Don't forget that there is free and confidential advice available at
http://www.nationaldebtline.co.uk/

There are enough pressures involved in raising a young family without additional financial worries. Contact the above helpline, they may be able to help.

Good luck.

thank you very much for that, am going to give them a ring tomorrow after work.