First time selling a house, need help with costs.

milocat

FinallyStoppedLurking said:

I would have thought there will always be someone out there willing to lend you the money it just means it might cost you in repayments. 

How many companies have you tried to get a homeowner loan through? Surely the risk to them, even with your poor credit score, is fairly low?! 

Just speculating here though as I don't have experience in this area. 

I've gone through 3 different brokers and all of them have flat out said, without a reliable income, there's no way in hell I'd get approved. And 3 of my job interviews have been taken off the table today because of lockdown - I've applied for the contact centre track and trace and am waiting to hear back from them because although its temporary, the money is good. Unfortunately, without an income, all the hard work I put in to improving my credit score in the last 6-8 months will be gone as well, as I will be unable to make my required payments. 

milocat

kazwookie said:

Contact your local food bank for food now,   ring the local council and ask if there is a hardship type payment available.

The council have reduced my bill by 25% for being a student already - so my bill for them is now only £138 a month. I don't think there is much else they would be able to do for me. I've won a paypal case this morning against a buyer for an item I bought back in June that never arrived, so will have £258 arriving in my bank account once the refund is processed - hopefully that won't take much longer. 

milocat

Some good news after speaking to my solicitor (who was initially for family court, but also handles conveyancing). I over-estimated on solicitors fees by £750, so that will leave me more once the sale goes through. And secondly, having taken advice from my solicitor, I may avoid CGT as the property was valued at £315k in February when it was transferred to me, and despite being listed at £325k initially, I dropped the price to £310k for a quick sale. This is going to be calculated and confirmed to me tomorrow morning. 

Comms69

milocat said:

kazwookie said:

Contact your local food bank for food now,   ring the local council and ask if there is a hardship type payment available.

The council have reduced my bill by 25% for being a student already - so my bill for them is now only £138 a month. I don't think there is much else they would be able to do for me. I've won a paypal case this morning against a buyer for an item I bought back in June that never arrived, so will have £258 arriving in my bank account once the refund is processed - hopefully that won't take much longer. 

IS there another adult living there?

george4064

Longshot I know, but could you get a bridging loan with the evidence that your second property will be sold by the end of the year?

MovingForwards

Where does your partner live? As you refer to we and partner.

How old are your children?

Have you had a look to see what supermarkets are recruiting for Christmas temps? It's only part-time hours when they do offer positions, but any money is better than no money.

What's your MA in? Are you absolutely certain there's no bursary / hardship fund. I would double check that.

As suggested by another poster, find your nearest food Bank.

diggingdude

I would have thought you would be unlikely to get hardship grants when you own two properties mortgage free. Apologies if I misread 

getmore4less

If there is an estate(with executors) that has assets that can be made liquid and you are a beneficiary they could look at an interim payment to tide you over.

without executors they should need a grant to do the payment.

milocat

Hi everyone. 

Yes there is another adult living here, my partner, but he is also currently out of work. The girls are 6 and 16. 
I think @diggingdude is probably correct in that I wouldn't qualify due to owning both houses outright, trouble is that doesn't equate to liquid funds, only big assets. I'm also a distance learner, so that takes away a lot of the grants etc too.
I tried to look into Bridging loans, but my credit rating is too poor unfortunately for places to accept me. I even tried to go through my bank and they told me that they were unable to do anything, even though they could see that I had previously healthy bank accounts. 
Good news is the refund arrived, so we can get food and pay the council tax. I've had the sales memo from the estate agent this morning. And I had a job interview yesterday (although I think I'm so stressed that it didn't go well and I don't think I've got it.)
The bad news is: I still have to pay CGT. I had a letter from HMRC telling me I owe them almost 2k. The car still hasn't sold. 

I've got a really sore throat and keep sneezing and just generally feel quite rubbish this morning. Thanks for all the advice received so far. 

Hannimal

milocat said:

Rambosmum said:

Your university should have a hardship loan/ grant you could access

Unfortunately it's only available to Undergraduate students. I have looked into this! But do not have much luck in this type of thing. 

Have you looked at short term loans from the university? I would encourage getting in touch with the appropriate support services (your personal tutor is the person to signpost you to things). I would be very surprised if your university offered no support for postgraduate students. However, it is unlikely you will be eligible for some of the hardship funds as you own two properties and are therefore quite wealthy. They may be able to advice or offer maintenance loans.