Mortgage Redemption & HUGE Fees

silvercar

Your redemption figure is 177k odd and you are selling for 188k.

Squeeze what you can out of the estate agent; a sale on a reduced fee is better than no sale. If necessary offer to pay half the fee from the proceeds of the sale and the other half in 6 months time.

Unless I;ve missed something, the sale can still proceed. You then need to get together a deposit for a rental, try borrowing from family or friends or even a short term loan to do this.

It will all be worth it to get rid of your house with no comeback.

jamesd

You might try putting this proposition to them:

1. You're looking to sell while there's still enough equity for you and them to get out without a substantial loss.
2. Their proposed settlement figure is high enough to prevent the deal from proceeding.
3. You're willing to offer them 100% of all sale proceeds after costs of sale to get the deal done, as full and final settlement of your obligations to them; to be recorded as an agreed settlement on your credit record, not a default.

Note that this is calculated to leave you exactly nothing after the sale. No money held back for a deposit etc. You'd need to raise that in some other way.