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Housing Dilemma: Is Bankruptcy the best way out?
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A peak, or a park you mean?Bigphil1474 said:Is it in an area of London that might be worth looking at AirBnb type renting out? Generally higher income per week but a bit more hassle. Quick search suggests £700 to £1,000 per week is achievable for a 1 bed apartment depending on area. Probably more if there is a peak near the apartment.0 -
@ReadySteadyPop - A peak as in if you live near Wimbledon, there'll be huge demand for properties when the tennis is on, or you live near Wembley which will have varying times of higher demand
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Ok, yes Wimbledon would be a hot ticket for AirBnB, which makes me wonder why the B word was ever a consideration?Bigphil1474 said:@ReadySteadyPop - A peak as in if you live near Wimbledon, there'll be huge demand for properties when the tennis is on, or you live near Wembley which will have varying times of higher demand0 -
https://www.theguardian.com/business/2025/mar/07/uk-house-prices-fall-unexpectedly-says-halifaxGDB2222 said:I am surprised at the suggestion that bankruptcy won’t affect the house outside London.There’s no way for the op to give his share of that house to his wife before bankruptcy. That would just be unwound by the TIB. If the wife has sufficient income, she may be able to get a mortgage to BUY the OP’s share of the house from him or from the TIB.Tri Fire is a disaster, and I don’t think the flat is saleable until there’s a new EWS1 in place, and a plan to deal with any resulting issues that arise. Bankruptcy is one way of dealing with this, as the flat becomes someone else’s problem, but you have to be aware of the consequences.London property prices have been quite buoyant, and prices generally are up since 2018 in most areas. Your difficulty selling is probably to do with your particular flat, most likely the EWS1, rather than the market generally. You say that it attracted no attention at 20% below what you paid.0
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