In a panic - flat about to be reposessed

mintymoneysaver

Great news! I know you are still looking for jobs, but is anything keeping you in London? With that much profit from your house you could almost buy another one somewhere a bit further out, and then the need to find work wouldn't be quite so dire.

Gary123456790

mintymoneysaver wrote: »

With that much profit from your house you could almost buy another one somewhere a bit further out

I second the above -I cant see anywhere where you said what the outstanding balance on your mortgage is, but you said you paid 250k. I presume at least some of that is paid off?

Either way you're looking at ending up with at least 200k, maybe even 300k depending on your oustanding balance and what you can sell for.

I am in Chelmsford in essex and you can buy decent semi houses for £180-200k, anything like this would leave you money left over and this isn't a particularly cheap place to live as its full of commuters. You could of course buy somewhere smaller and much cheaper. If you have good money left over you can do a lot with it, e.g. invest to provide an income.

As an example around here you can buy a 2 bed maisonette for around 120k which would net around £500 a month in rent depending on condition / location. I know this for a fact as my Mrs has a 50% share in exactly this kind of property.

So, in your own mortgage free property with a large lump... its looking up!

Gary.

use1

PLease don't kill yourself , I suggest you sell up and go on a much deserved holiday!You only get one life , Can I suggest Cuba?

Jox

use1 wrote: »

PLease don't kill yourself , I suggest you sell up and go on a much deserved holiday!You only get one life , Can I suggest Cuba?

Have you read this thread??

use1

Jox wrote: »

Have you read this thread??

TBH there's a lot of pages I didn't want to read through it all it is a lot.Hope I haven't given the wrong advice, but it's just something I would do.

charlie3090

Hi,
been following your posts,glad things are looking better,just wanted to mention that Harlow in essex have some decent area 2 bed maisonettes for £100k and upwards,
keep on going, youre doing great,
C x

Enzed22

Hi Cool_Chick,

Awesome news about the valuations (that's the first time in my life I've ever been pleased to hear that London house prices are so expensive!).

Really glad you've got support from Shelter now too.

Good on you for achieving all this - that's an amazing turnaround.

Best luck with your plans and I'm so happy things are looking up for you.

Jox

use1 wrote: »

TBH there's a lot of pages I didn't want to read through it all it is a lot.Hope I haven't given the wrong advice, but it's just something I would do.

Cool-chick was at a low place but has now received positive valuations for her property and has contacted Shelter.

I don't think she is in a position to plan a holiday to Cuba at the moment, and she has her cat to think of as well

use1

Jox wrote: »

Cool-chick was at a low place but has now received positive valuations for her property and has contacted Shelter.

I don't think she is in a position to plan a holiday to Cuba at the moment, and she has her cat to think of as well

Yeah you're right thinking about it, just think sometimes you need a pick me up you know

Cool_Chick

Hello everyone! Had a busy day again already. Went to that Government employment agency. They have beeen useless in the past but now have new staff, new premises and new processes. I went to complain but came out much happier. They are going to review my CV and have pencilled me in for an interview next week with a client having a big Telesales recruitment drive. It's highly likely that I will actually start this role on 12th Nov! It's not the best job in the world and the money and hours are not good, but I'm just overjoyed to be getting back into work!

And I just wanted to let you know that I do read all of your posts and take to heart your kind advice. Even the Cuba suggestion! But as much as I would love to take a holiday, I could not bear to be parted from my cat. And I'm not out of the woods yet. Although I have these crazy valuations, I can't really rest until I start getting actual offers. Agents have a habit of saying what you want to hear, but they're not the ones spending the money.

And I very much appreciate hearing from the other cat lovers out there! It's amazing how a pet can take over your life. They ask for so little, but give so much unconditional love.

And I just think it is amazing how things have changed so much for me for the better in less than a week. I really hope that anyone else in a similar position to me finds this forum and sees how things can change so quickly. Even when things feel really hopeless, the situation can still get better.