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secured loan problem
valleyboy
Posts: 9 Forumite
Hi everyone,
I have a dilemma i hope someone may be able to give me an answer to. I have been living at my property for over 2 years and currently owe 111000 on my redemption figure, i am selling my house and moving in with my girlfriend. my problem is that I stupidly took out a secured loan with welcome finance for 10000, i now find out that i still owe 12000 back to them over two years later.
I have recently had an offer on my house for 121k - after estate agents take theyre cut it leaves me with 119k - by doing the math you can see that im 4k short of paying all of this up completely.
My question is am i able to sell my house or do i simply have to carry on living here until i can afford to pay the loan up aswell.
The house is crippling me financially since my ex moved out 18 months ago and by moving in with the new girlfriend i would be about 800 pounds better off a month.
thanks in advance
Valleyboy
I have a dilemma i hope someone may be able to give me an answer to. I have been living at my property for over 2 years and currently owe 111000 on my redemption figure, i am selling my house and moving in with my girlfriend. my problem is that I stupidly took out a secured loan with welcome finance for 10000, i now find out that i still owe 12000 back to them over two years later.
I have recently had an offer on my house for 121k - after estate agents take theyre cut it leaves me with 119k - by doing the math you can see that im 4k short of paying all of this up completely.
My question is am i able to sell my house or do i simply have to carry on living here until i can afford to pay the loan up aswell.
The house is crippling me financially since my ex moved out 18 months ago and by moving in with the new girlfriend i would be about 800 pounds better off a month.
thanks in advance
Valleyboy
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