2nd request ..re:mortgage on french house

kareng68

Hi

Can anyone help me? ..I have posted this else where but advised to pop it on here (so sorry if you have read this twice!)

Ok I have got myself in a mess well and truly.

I have been living in France for 2 years & not worked - lived on savings and credit cards and have stacked up £63K of debt ..yes I know I have been dumb and now I need to wake up & smell the coffee!

Right ..so £43K in credit card debt and a loan of £20K
..repayments £1051 per month

The house here in France is paid for ..so no mortgage.
My husband is now working back in the UK netting £1500 so our out goings are more than incoming
I am desperately looking for a job back in the UK - nothing as yet

We can't sell the French house - no market
So question ...could we mortgage it ..and pay off all our debt & at least start a fresh

We do NOT want to get an IVA or have our debts written off - we have spent this money and are responsible enough to realise it is our crap & we need to sort it !!

..please be gentle ..I know I have been living in cloud cookoo land !!

davilown

kareng68 wrote: »

Hi



We can't sell the French house - no market
So question ...could we mortgage it ..and pay off all our debt & at least start a fresh

!!

Stick in an auction and hopefully get enough to clear?

jcorbygas

I would think it would be very difficult to get a mortgage in France as they have strict lending criteria and they would take into account the payments you make on loans etc. (I know coz I tried to mortgage our French property to pay off all our English credit cards and couldnt do it)
The only possibility would be to try and get an English lender to lend on it - I think there is a company called Conti Financial who have a lot of dealings with overseas property mortgages.
The other thing you could consider is a DMP as your husband is working.