Bad Debt need loan fast

YahdaYahda

Hi,

Trying to sell a property in need of repair. I have had to relocate for a work and my spare cash is used up renting another property. I have been trying to juggle my finances to do the repairs but find I am creating more arrears elsewhere.


I have a bad credit rating and existing debts which is less than £6,000, this has made it impossible to borrow or re-mortgage with my mortgage lender, I need £3000, to fix the roof and re-decorate and sell the property.


I have been given an estimate that I should walk away with at least £110,000.
:beer:

Any advice will be appreciated

Running_On_Empty

You have overstretched yourself so
1. put house on market immediately and
2. get a second job to cover the period between now and when the house sells.
3. Don't try to repeat the exercise.
All this sounds harsh but you did ask for ANY advice.

DCFC79

Your credit rating means nothing, what matters is what's on your credit history.

BrassicWoman

reduce the property price by 5k and get it gone

27col

BrassicWoman wrote: »

reduce the property price by 5k and get it gone

Obvious really. Sell it for what you can get. Someone looking for a project will be looking for something exactly like your property.

DCFC79

According to the OP's other thread they are moving to Africa and needs to sell up, just put it on the market as advised but with a reduced price.

Herzlos

Put it on the market for £110k minus whatever the work will add to it. People are usually interested in houses that need some work; it's a much cheaper way onto the market.