Adverse Credit Mortgage - Need help please

Matt1982

It can be a quick process if you willing to sell your other properties at a decent price. How may other properties you got? much equity in them?

4 mortgage arrears are a thing of the past like selling houses for high prices quickly are.

Which month's were you 4 mortgage arrears from? Any other adverse problems? Anything else unusual about your circumstances?

VIGILANT22

Selling properties at a decent price??!!...To sell a house at 50/60 ltv to try and buy another!...Would only be one winner and it would not be the OP...

Matt1982

Demand is still there for buying houses at decent prices and I dont mean 50/60% to these cowboys who put leaflets through your day.

Obiviously the type of property is going to be key e.g. if got small property going to be more demand.

Remember this person is hoping to buy a house apparently worth £600,000 for considerably less so therefore surely they can take a slight hit on properties they have to sell as going to gain on this new house.

Quote 'We need the money to buy a new house, the value of the house is around £600,000 and within a few years it will be even more once work is done to it. We have it secured for £475,000 and we need to borrow £375,000.'

NeedHelpNowASAP

We cannot do that Matt as we either have property that has no money in them or we have property that has a lot of profit in it if we sell, and it would not be worth selling any of them for it really, and it does take a while to sell property on an average of things, and we need the money secured very quickly.

We have one more chance and it's on the principle that they house is going to be worth a lot more in a few years, it's looking pretty good, but at an interest of 14% which is gonna be £4000 or so a month so not great, but it will be worth it in the long run.

Will keep you updated.

VIGILANT22

Forget it and move on..it is more important to put your energies into what you have than what might have been...believe me! oh and good luck..

NeedHelpNowASAP

VIGILANT22 wrote: »

Forget it and move on..it is more important to put your energies into what you have than what might have been...believe me! oh and good luck..

Hey Vigilant,

If it was any old house, we would, but in all the years (many) we have been in the property market, this is a once in a lifetime building to own, it's like a Manor in seclusion, and before this repossession it was owned by the same family for well over 100 years and I think it was only sold because they had no more relatives after the death of the final owner.

So to leave it would be stupid, if we cant we cant.

RecoveringAlcoholic

You need a time machine to take you back three years to when RBS and HBOS threw money at anything with the word property in it.

Check out the Swinging Piggies site for finance deals.


.


.

NeedHelpNowASAP

RecoveringAlcoholic wrote: »

You need a time machine to take you back three years to when RBS and HBOS threw money at anything with the word property in it.

Check out the Swinging Piggies site for finance deals.


.


.

Yep, if we wanted we could have £600,000 tomorrow if it was even 2 years ago!