Un-sellable, un-rentable, un-mortgageable property

Demelza33

Hoping somone can help - I bought a flat in a small block a number of years ago. Went to sell it around 2 years ago (mid-conservative hike in interest rates and borrowing) so plenty of interest but no offers. 
Bought a house with my partner so we could build a family - with a plan to rent the flat until mortgage rates stabilised an it would sell. Now have two mortgages - one on our house (a renovation house at a bargain price at the time!) and the flat. 
Have since sucessfulyl rented the flat - until problems occoured. Leaks and water ingress meant a large scale investigation finding flaws in the balcony and roof structures - needing significant repairs and possibilities of structural issues with the flats above mine. 
Long process on - the formal report of the issues with water ingress and large scale works needing to be done have been estimated at almost 75k!! per flat (12 flats = almost 1million to repair!!) and an umortgagable property. I'm stuck with that mortgage company, which wouldn't be a huge issue as its currently rented...until a report came through stating we need aquo-props in each flat to ensure structural stability. 

Its unlikely my tennant will want to continue to live in a flat with props and holes in the ceiling. 

I'm worried I'll struggle to rent it with props in the flat, and although I can utilise a "mortgage holiday" at some point - I was saving this for when the formal works need to be done and the flat is truely unlivable. Which at 75k per flat is unlikely to be for another year. 

Has anyone been stuck in this situation before? Has anyone got any advice?? Selling the house we've moved into isn't currently an option as it's a rennovation and is lacking hot water/heating and is unlikely to sell either given the current state. 

ACG

You could put it into auction? 

PropertyGuru_Wannabe

You should never have been a landlord if you don't know what that really means.  You have responsibilities and obligations to fulfill your landlord duties.  If you can't beg or borrow the funds to repair your flat, then it means that your flat will become literally worthless, with the mortgage being un-mortgageable and at variable rates.  This will not only hurt your pocket, but your credit rating will plummet.  Hope and pray the tenant won't begin civil action against you.

1.  Look at your insurance cover.  Do you have any?  
2.  Contact the building management and freeholder to look at possible solutions.
3.  Beg or borrow to get the money to repair the flat.
4.  If you can't, then watch the flat valued at zero forever, plus your mortgage debts will still be there.
5.  Good luck, you will need it.