Resolved Question: Can I obtain an LEA (Local Education Authority) grant/ loan although I have an adverse credit history?

This question is primarily for people who live in the UK. No offense. I have been looking for advice on the net - I know the most obvious thing is to contact my LEA which is Croydon South London - however I would like to know if I would be eligible for a grant/ loan from the LEA? I am intending to study a BA Hons Degree Public Relations. In the process of putting my application in. Longstory short. I got into alot of debt and the last 4 years, especially last year has been absolute hell! I had a mortgage, 3 bed house and a very well paid job as a Project Officer. I have lost my home and had to leave my job mainly as the pretence and pressure was just too much to bare. Now I have to get JSA and try and re-build my life. I hope to get a part-time job in time. I am now trying to resolve this debt. My only way out is to file for bankruptcy of which one of my old loans is a previous student loan. But I want to re-train and get my degree as well I know it will not be easy and I know it can be done but I just need help guidance as to which way I can go to get the financial assistance to get me on the course. Serious answers only please. Thanking you in advance! more

Resolved Question: Anyone know if there is ANYTHING we can do about our Mortgage?

We live in Scotland - Ayrshire & we bought our flat sept 07! We owe Nrock 83,000 then a further 6,000 on an uncecured loan and our house is only worth around 73,000 now. But we have really out-grown our flat as we have just recently had a baby boy - My partner has a really good wage & I am going to just do some work from home so we can afford to almost double our mortgage to move to a bigger home - but we obviously don't have a deposit as we are in negative equity. Is there anything we can do so that we can move to a bigger home?Saving £500 a month is still going to take years to get a decent deposit! more

Voting Question: Am I a bad Dad 3rd part?

guess what,he got the sack for skiving off,he was on good money but blowing it on drugs,when I found out that he'd been given the sack I confronted him and he couldn't give a damm,if my youngest Son hadn't have got between us I would have strangled him I think,I forgot to add that he had also taken out a Loan for £10,000 when he had started at my place and that had been wasted as well,when I found out about the Loan I said to him that he didn't have to pay any rent,just get the loan repaid,Months later I found out he hadn't been paying it at all,I got annoyed,tried to be supportive and thought I'd give him another chance so I paid off his loan and he said he'd sorted his life out and would repay me,rent time come round,no money,excuse after excuse,after a few Months I flipped,I'd been patient because I know I can go off the handle but to me he'd crossed the line big time now,I remember I pushed him into his bedroom and he cowered on his bed shouting at me not to hit him,I didn't but I was shouting at him,that night he went out and didn't come back,to cut it short I went out everynight driving around all the pubs,phoning his mates,it ended with him texting his Mum saying he didn't know if he wanted to be alive or not,he gave his location out and we had the police helicopter and search team out,they didn't find him but I picked up on something one of his mates said and kind of tricked his mate into telling me where he was and he then came home,we were obviously relieved to say the least and thats when it all came out about his dope problem,I said I'd help him and I went round paying off his debts to the dealers,he has since worked really hard and last Year paid off every single penny that he owed me,the problem is we agreed to him smoking dope but he would have to wean his self of it,he got his self another girlfriend and she moved in with us last year,supposedly for a week or two,well that turned into Months,I didn't mind but I started smelling dope,I asked my Son and his girlfriend not to smoke in his bedroom as I've just had an extension and it's all newly decorated,I've done all the work except laying the bricks and the plastering,the last thing I want is to have to redecorate or buy new carpets because of fag burns etc,I then thought that's not really fair because they both pay rent (just to explain the rent thing,the boys wanted there own bedrooms and I said I'd have the extension done but they would have to pay proper rent to cover the extra mortgage costs because I couldn't afford it,they both agreed to this) so I said they could smoke in the bedroom but if he wanted to smoke dope he had to go outside,he agreed but as I said I started smelling dope and one night both me and the Wife could smell it in our bedroom,it was overpowering,I confronted him and he strongly denied it,I couldn't prove it but a few nights later I went to the Loo and could smell it again,I knocked on his door and asked him to open it,there was a lot of mumbling and when he opened it he admitted he'd just lit a joint up,that was it,I told him and his girlfriend I wanted them out,they have now moved out and are happy but why do I feel bad,do I blame myself for how he turned out,was my Wife right when she said I didn't spend enough time with them,was it because I let him down when I missed his Nativity play,this is just the eldest Son,my youngest Son owes me £14,000,I've had bailiffes at the door, people he's borrowed money from and not paid it back to knocking at my door all tooled up,when I found out he owed them Money I've paid them,I've had to borrow more money from the bank because he hasn't paid me what he owes,he's lied to me to get me to pay for things for him saying he's just waiting for a cheque to come through when he knows he's got to give it to someone else,I've given him cars,he's wrecked at least 2 but comes out with plausible excuses that I can't prove wrong,you must think I'm a right idiot or that I'm retarded,if you met my Sons you'd think they're smashing blokes,what have I done wrong for them to be like this,on top of all this my Mum died of Cancer after a 2 year very painful battle and to top it off my wife could be losing her Kidneys,in and out of Hospital with infections,I've been up all night writing this,hopefully one of you have the answer,thanks more

Resolved Question: I've received an alert from credit agency that I owed 12K?

I have first and 2nd mortgage with Countrywide and they have approved a short sale, escrow closed 792008 with a letter from their Negotiator they will not pursue any deficiency judgements and also received a reconveyance letter that both loans are paid. Now, I received an alert from credit agency stating I owed $12k from BAC Home LNS LP/Countrywide, they have used the account of the 2nd mortgage and I don't understand it. They have put the same address as CW, please advise. Your help is greatly appreciated. more

Resolved Question: Mortgages: Can you get a loan for the deposit?

I know that you probably could not with the current economic climate but before could you? £180,000 home.Its been done beforeSo we have maybe 10 answers from one person, thats just wonderful more

Resolved Question: Is going bankrupt his only option?

This is a genuine question relating to a friend. I will give as much detail as I have got out of him but this is all I know. As a result please reply based only on this info. My friend has his own home. It is now worth approx £70k with £95k loaned against it. He also has £10k from another company secured against it. In addition to this he has about £2500 in unsecured debts. He earns £1300 after tax / month. His out goings are £750 / mth on the mortgage, £210 / mth on the secured loan and about £90 / mth on the unsecured stuff. Out of the remaining £250 he has to pay the normal bills i.e. gas electric, water council tax etc which results in him having less than £100 / mth to feed himself and run a car. He HAS to have a car to get to / from work. He is looking at going bankrupt and im unsure if its his best option. Im lucky enough never to had an issue with debt and so i only know what hes told me about the issues he has in not being able to use IVA's etc. Is going bankrupt his only option? Also if he does he is looking to rent. An understanding landlord has agreed but how will he be able to pay for ges, electric ect as wouldnt paying in arrears be considered credit? Hes not the best with finances and I just want to be able to help him out a little with this time in his life. Only people with knowledge to reply please. Thanks, Ed more

Resolved Question: mortgage advise, only need £10,000 towards cost of home?

hi, i currently own 2 houses, one that i live in and one my daughter lives in, the one i live in is worth £160,000 and the other which my daughter lives in was purchased last year for £75,000 by remortgaging the £160,000 house for £75,000 most of which is still owing, so to simplify things i have one house worth £160,000 which has a current outstanding mortgage of about £70,000 and another home owned outright which now should be worth about £110,000.. we are wanting to sell the £160,000 house and get a house for £170,000 so we need an extra £10,000, could we get another mortgage for this amount with it being so small? or would a loan be better? or remortgage on our second property? our current mortgage is at a rate of 5.25%, any advise on this would be super more

Resolved Question: Can we have a policy please David Cameron?

Where are we going to house, find jobs and support up to 100,000 Gurkha's and their families that your party voted to bring in to the UK yesterday? Can we have an alternative to the Lisbon treaty that you say you will not ratify? Can we have detail about the £50 billion loan to failing businesses that you want to give out (I thought we was broke Dave)? Can you tell us why a border police will be better than a border force and what is your target to return immigrants to their place of origin? As you dont agree with the 50% income tax on people earning over £150,000 will you remove it and what will you replace it with? As you dont agree with the financial stimulus can you give us details of how you stimulate the economy and protect the jobs of millions of hardworking people? What is your proposal to stop MP's of all parties including your own abusing expenses and second home allowences? Can you tell us why you wanted further deregulation of the banks and mortgage markets until two years ago and now blame the government for not regulating them? Are you really just an opportunist chancer and master of spin and soundbite or do you actually have a forward thinking policy and plan for the UK?John D - we know the election is going to be within the next year - is it too much to ask someone who wants to lead us how he is going to do so? You say I am a labour voter but at least I know what I will be voting for - does anyone who claims to support the torries?Pin Ball - I have already sent it to my mate Dave just in case he doesn't read yahoo ansers. But dont you want to know what he is going to do before you vote him in? If he tells you afterwards isn't it a bit late?Jack - again my point is that we dont know if they are going to be better than this lot until they tell us what they are going to do. They could be a whole lot worse. This question has been on for two hours and not one answer has stated one policy!!!Hi Saundra and excelent points some I agree with others I dont - but shouldn't Dave be using his brain cells and tellling us this. Despite being lefty I may not vote labour if the tories come up with something better. But unlike many I will not vote on a whim and prayer which is what we have at the moment. I am frankly disappointed in the Tories - this is the worse government since Majors and we have an oppostition that opposes only shouldn't it also be proposing?Hi Kew I have read it and it doesn't answer the questions. Which is why I have asked them. more

Resolved Question: Is this fair? my husband will give me £5,000 to move out of the house and sign house over to him.?

I am living in the house both jointly owned by myself and my husband. I have a grown up son living with me but he is severely disabled and he can't work. (my son is from my first marriage to my late husband) I work full time and my husband works full time. My husband moved out of the house because of working away long distance. I tried to save the marriage but my husband told me he wanted a separation because he does not love me anymore. We have been married for 4 years and bought the house 4 years ago. From the minute we got bought the house, we both decided that he pays the mortgage and I pay the bills. I took out a home improvement loan of £8,000 to replace the windows and doors with double glazing which adds value. I am paying off the loan which will take 8 years to pay off. He said that I should move out and he takes over the house and puts tenants in the house instead. He is offering me £5,000 to move out and to sign the house over to him, which will make him sole owner and I lose the ownership of house because he pays the mortgage and I never have. I can't get a lawyer because I can't afford legal aid because I work full time. Is this fair offer he is making? I am a honest and reasonable person but don't want to be taken for a fool. Should I move out and sign over the house ownership to my husband for just £5,000? He told me that he does not have to pay me a penny for the house and that he being generous offering me £5,000. more

Resolved Question: Can i still get a loan if i have poor credit rating?

I recently applied for a loan on money supermarket, i found one with sainsburys which i believe is none high street. When i completed it, it didnt decline like some people had said on the review page, it said processing my account. I just want to know if its actually going to approve. My rating is very poor as i work in mortgages and checked at work. I dont really mind paying high intrest as i know i shall have to. I have collateral, not a home owner but im a full time worker and already have a loan with my bank, reason i want this loan is to consolidate my existing loan and go on holiday. Does anyone have a loan with sainsburys? id like to know also if they would require bank statements and wage slips etc as i only have some and lost many wage slips to prove my income. All answers will be appreciated, thank you so much x more

Voting Question: Anyone know about the new Home Buy Scheme to help people in need to buy a house?

Me and my partner do not have enough to put a deposit down to buy, but have been told that we can have an equity loan to cover 15% (the deposit) and then be on a fixed rate for 2 years or so. Also told we can get a house for 155k. however, we were happy, but so many people have put us off by their opinions that we could in a couple years be paying a lot of money and lose the house etc. our combined salarys are 40k and have no kids. any further advice would be appreciated as we r a bit scared of doing it. Also, wots the worst that could happen if in a few years we couldnt pay the mortgage? the house would be repossesed? and we would have nothing? we are currently renting, so we wouldnt be any worse off than now would we? would we be blacklisted? thanks. more

Resolved Question: I'm inspired by homes under the hammer...but where do I start?

I'd love to get into renevating properties but I have no idea how people do it? I mean on homes under the hammer they all look like average people with average jobs and average incomes doing it for a hobbie or sometimes they've made it work as a career, but how does someone who doesnt earn alot of money get into it? I know loans and mortgages are going to be involved somewhere along the line but how do people do it without landing themselves in a ton of debt before they make any profit? (I'm not kean on loans and things, I try and do everything black and white, i.e. money goes in, money comes out. I've only ever had 1 small loan and never had a credit card.) more

Resolved Question: marriage on the brink, what to do?

14 years married, anniversary in May. I had a 1 night stand with a collegue a few months ago and wife found out about 4 weeks ago. She has one of the children i have the other. Been arguing back and forward over what happened, she wants to know all the details, if i answer her questions it just sets her off and then i dont here for her for days or get nasty texts. Says she still loves me, but cant forgive me, there is no trust now, meant to be at marriage guidance tonight at 6pm but after latest argument she says she wont be going now, she wanted to know who asked who up the road, i told her it was the other person and that started her all up again about how much i have hurt her and she doesnt want to see me anymore now. i have told her i want her back, how much i love her and how much of a mistake it was that happened. Thing is if she doesnt come back soon then financial difficultys will begin with the mortgage and loans, credit cards. It need both our wages to help pay these, not the the reason i want her back. Dont want to lose our home as I feel she will come back, but she has to try and get this out of her head about what I done and try and move on. Any suggetsion, feel free.**Thanks for all the answers, for those people posting about its my fault, duh i know that, full of guilt, i dont need to be blamed for something i know i done was wrong, to the poster who mentioned email and letter, brilliant answer and thank you very much to everyone else who contributed.*** more

Resolved Question: buying a cheap house for daughter?

my daughter is struggling to buy her first home .i have recently sold my house to rent and i want to buy a house for only £45,000 for my daughter(it is a ex council house but is better than nothing .if i buy the house as cash straight out (no loan,no mortgage)what implications is there tax wise etc..the house deeds will only have my daughters name on them as i do not want to own the property as i just want to help her out as i fear for the future for her.as for "why not get something decent for her" . because it is the best i can afford and she was full time working and she is renting and struggling and she has had her hours reduced by 15 hours a week. more

Resolved Question: Im in a mess and dont know where to turn!?

I have been maried now for 12 years, and on the whole have had a good marriage. My husband has suffered with bouts of depression and ocd which he has had help for. Last year he got made redundant and things have since taken a nasty turn, although he is working now the job does not pay the wages he used to earn and as a result we have gotten more and more into financial trouble. This is in turn has made him more depressed! Im at the point now I cannot take any more, I feel guilty but I want to leave, I love him but he just seems to be on the road to self destruction and nothing i do or say is good enough! We dont laugh anymore, the only time we talk is either about the children or about how things have got so bad for HIM! He doesnt understand that I am suffering too. I try my best to be understanding but I have needs too and they are not being met! I too am worried about our financial troubles but im of the opinion as long as the mortgage is paid and my kids have food on the table then the credit cards and loan will have to wait! Everyday he gets uptight about something the latest being my birthday! I am 30 next week, I have a large family and my parents are paying for me to have a dj and have booked a hall, my best mate is providing a chocolate fountain as a present and another friend has made me a cake! So the party isnt costing any money but he is going nuts, he says he hasnt got the money to do a buffet, I have told people there will only be a chocolate fountain, he says we cant afford to decorate the hall, but Im not bothered about that! All I wanted was to have all my friends and family around me on the day! If we had all gone for a meal it would have cost a lot more and of course not everyone could afford a meal so having a party makes sense, last night he said I was being selfish! I know he is upset because he wanted to buy me tiffany jewellry for my birthday, he just cant seem to get it into his head that im not bothered by presents, but after a shitty year would like to celebrate with the people who have been there for me! he doesnt have a close family and he makes me feel guilty that I have, again he doesnt get it that they are his family too! I know this post probably does sound selfish and I dont mean it to sound like I want to leave over a party, its not that simple there are lots of other things going on at the same time! The other argument he keeps bringing up is the fact that I wanted a 2nd child! He says we were ok financially until I decided to get pregnant with my son! He says over and over we shouldnt have had him! I find this upsetting I wont lie and say I didnt want another baby but we were not trying at the time, he was concieved at a wedding party when we were offered a free hotel for the night, on the day of my cousins wedding as an aunt had paid for a room and couldnt stay, we didnt take anything with us, as we were coming home, so I didnt have contraception, I did say on the night I havnt taken my pill and he agreed we would risk it! So thats how my son came along but now he holds it against me! On the whole he has been a good husband and is a fantastic Dad but I am at the end of my tether! Every evening I dread him coming home as I dont know which hubby will walk in the door! I welcome any suggestions that anyone has, but please dont attack me, I have tried to be honest in my post an dthis is a genuine cry for help! more

Resolved Question: HELP! is it true that i cant sell my house!!?

hi, i have been bankrupt for 5months now and my house as been up for sale for 12month we have just had a offer on it £10,000 less then we owe , it is a joint mortgage with my girlfriend she is not bankrupt . we have 2 kids and hate this hole we are in. can you tell me if i can sell my home now? because i have heard that i cant. and if they will chase my girlfriend for the short fall. i was on £1100 a week now i am on £420. with this mortgage and loan.i just dont know what to do! more

Resolved Question: Can you get a Home Owners Loan if you have bad credit?

I am a Home Owner, I've had my mortgage for 3 years and never missed a payment etc but I do have a CCJ from a while ago. Am I guaranteed to get a Home Owners Loan or will I still be subject to Credit Scores etc? more

Resolved Question: IVA - should I carry on paying it?

Hi I entered into an IVA 2.5 years ago and have 2.5 years left on it. I became unemployed in December and still haven't managed to find a job! I apply for every job I can do and out of 20 have had one interview. I have been told that an IVA is no better than bankruptcy when it comes to wanting to get credit in the future? Is this true? If so, would I just be better off going bankrupt? I never wanted to make myself bankrupt but at the moment I am not able to make payments towards my IVA. I have until the second week of April 09 to make a payment (which realistically I cannot meet) then a meeting with my creditors will take place where I may well be made bankrupt without choice. I think on one hand I have paid more than half of my debt off now but on the other hand think what is the point if bankruptcy and IVAs both have the same affect on getting credit in the future. I don't mean petty things like loans and credit cards...my main concern is a mortgage. I am getting married next year and would ideally like to own my own home after my IVA has completed....will this ever happen? Any advice would be very welcomed as I am stuck on what to do now.PS. How easy is it to get a bank account after? I applied to get a cashcard account with Natwest a few weeks back and they responded saying "I have been flagged up as bankrupt so they were unable to offer me an account"....I am not bankrupt!! so what is the point of this IVA?? more

Resolved Question: can i get a mortgage on a 'static' home?

can you get mortgages for a static home ??? UK...or does anyone know where i can get the cheapest unsecured loan?? (i need approx 30,000 pounds) more

Resolved Question: Am I liable for a joint secured loan if my name is not on the mortgage?

My husband and I took out a secured loan for home improvements. We are now separating. Am I still liable part of the secured loan even though I am not name on the mortgage (it is in my husbands sole name) more

Resolved Question: I have too much debt, Please advice me what to do?

I am from Manchester I owned a textile business since 1998 with approximately 100 staff, the business was going well until two years ago. I was importing and exporting but over the last two years the business has been in a steady decline, I have also had to reduce my staff levels and now have only five people working in the factory. My factory and my home both have high mortgages. I have taken out loans for my business, I have re-mortgaged my house and used all the available money on my credit cards. I now find myself in a position where I am unable to make any of the repayments and the interest is increasing up daily. I am struggling to pay the five remaining staff. I do not know what to do, I have considered suicide but I have two children and I really must think about them. I have considered running away and leaving all the debts behind but I do not have any money to start a new life anywhere else. If anyone has any advice to offer as to how I can deal with this and get some sort of normality back in to my life I would be very grateful more

Resolved Question: Ho does remortgaging work i have 20k in equity in my property.?

I would like to remortage and get a home loan i need basically 40k if i can get it to add to the mortgage to clear some debts. Is this at all possible? more

Resolved Question: Bringing huge sum of money from home country (Nepal) to repay mortgage in UK?

Hello there, Thanks for taking your time to read this, I am from Nepal and my dad is ex British Gurkha. We are currently living in North west London. Well i know it's in the blood of most of the older generation Gurkha's (no disrespect) from Nepal who are mostly innocent and easily fooled and who don't really think ahead as long as their family, friends and relatives are living peacefully in the presence. I think now you kinda got an idea of what I am going to talk about from the title and the little introduction i gave above....Well my parents took a loan for a mortgage to buy a house in UK. My parents didn't have any idea how bad taking loan was. (Well actually to be honest it's over 80% of the people who take mortgage loan are in serious debt after doing some of my research). I am not going to say what the exact value of loan my parents got, but it's somewhere between £100k to £200k......After telling my parents how much money they have to pay back to bank only in interest for over 20 years just to own a house....they kind of seem worried...hate to see my parents upset and worried!!!! (Gurkha's blood starts to run violently in my veins) I think it's natural for most of the generation of Gurkha's when they see someone they love get disturbed like that......Don't worry mom & dad your son is still here, will do best what I can......Later I gave them an idea how they can sell some properties in Nepal and bring the money here to pay the mortgage.....and so they agreed with me.... But I have got stuck in this point that.......Is it even legal or even allowed to bring those huge of sum of money to bring in UK? Wait before someone starts to think negative (money laundering) let me make clear that it's the savings of my dad while he was serving for British Army for nearly 40 years....I know low pay and low pension blah blah blah....oh well that's life, I don't want to complain....I'll just accept it, in fact I am grateful to them or else maybe I wouldn't even be here.....Alright enough about the past and long story...let me just make it simple.... Does anyone know any service or company(well known) that can help us bring the huge amount of money legally and by cheapest and safest mean (kind of too much to ask...hehe cheapest and safest).....so that my innocent parents can pay off their mortgage and live the debt free life........ :(.......btw I call my parents innocent because after comparing the world I've seen....they're just way too innocent....knows no lies or hate just want to live peacefully with family friends and neighbors..... Thank you very much for taking your time to read this. Apologizes to them who thinks it's inappropriate to write these things here....please do not leave any negative comment......Actually I just came to write the last sentence but I just couldn't resist to tell how many other innocent people like my parents are in debt and may have similar thoughts.... Thanks once again. more

Resolved Question: What would you do?I need help?

Let me explain my situation. I left school 6 years ago with good GCSE's all A to C, not sure on what path to take in the first year I had two or three easy jobs to bring some money in and decide where I want to go in life. I went for a job as an Insurance broker, got the job and progressed over 4 years to branch manager. Whilst working there I was renting a flat but had been saving for a deposit to buy a house but in Jan 08 I had just over 10k and I got a loan for £5k, so I purchased a flat for an extortionate price compared to the current market and all was good. BUT in September 08 I was made redundant the company was in liquidation and I only received £1600 of my redundancy. In the space of 3 months I applied for 118 jobs and was unsuccessful every time, A job was becoming impossible to find. I went to the government for some support but they refused to give me any help including any benefits because I got a measly redundancy pay. That had dried up and I was in arrears on my mortgage, the place was repossessed with me not getting a penny back. I'm now in private sheltered accommodation but they can no longer keep me as I have no income i.e. benefits. In the space of a year I have lost all my savings, possessions and dignity. My only relative is 86 and in a care home so not the best person to share my problems. I've worked hard through school and after leaving school for nothing, I have spoke to people who offer advice such as citizens advice bureau, their exact words were "I don't know what to suggest". The government say they are doing all they can to help people like myself??? My next move will be on to the streets sleeping rough were things can only get worst as I’m sure finding a job in dirty clothes and smelling won’t increase my appeal more

Resolved Question: Question about home mortgage when house prices fall?

Would a home mortgage lender expect the borrower to repay some of the mortgage if the house price drops significantly. As a comparison, with investment loans lenders can make a 'margin call' asking that the borrower repay some of the loan quickly to maintain a minimum amount of equity in the total investment. more

Resolved Question: FTB - Adverse credit???!!!! PLEASE HELP!!!!!! :-( ?

Hi, Myself and my fiancee (we are getting married in July) are would-be first time buyers and wish to buy a house at the end of this year but I have a really bad problem with my credit history. My question is after taking the below into account, what are the chances of us getting a mortgage?? Currently we earn £43,500 between us a year - we would have approx £10-12.5K as a deposit. According to checkmyfile my current credit scores are as follows: Equifax - 429, Callcredit - 464 & Experian - 634. I currently have three defaults against my name (1 from a mobile phone provider, 1 from a loan company and 1 from a credit card company). I am hoping that by June the mobile phone and loan will have been repaid in full and thus they should show as satisfied on my files and by Oct/Nov the other other default will show as satisfied. I have had serious arrears (where I have missed an awful lot of payments consecutively) in the past and some of the accounts are subsequently showing as deliqeunt at the moment on my file(s). These are for loans/credit cards/overdrafts and are currently in the process of being paid off (but some of these are now down as arrangements to pay on file) and will be completely paid off by August/September of this year. At the time of us applying for a mortgage, the only debt that I will have against my name will be approx £1200 left to pay on a credit card (which has a £1750 limit) and again is something that I am paying off at the moment. I think that it is every married couples dream to own their own home but feel that my errors in the past my seriously hamper our prospects. My partners credit history is exemplorary and she has never had a late/missed a payment in her life. I would be really, really grateful for someones help advice on this subject so that perhaps I can start to sleep again at night!!!! Thanks ever so much in advance and my sincerest apologies for the length of this question!!!! Happy new year to all !!!! :-) more

Resolved Question: Can he make me pay?....................................................?

Ok this is a long story and I appreciate your patience! Myself and my partner have split up. We have a joint mortgage. I am currently living in the joint home alone (occasionally he stays when he can's stay at his girlfriends) He pays half to the mortgage and I pay half also. The rest of the bills and utilities are being paid by myself alone. We bought the house together and everything was fine, then we did a remortgage and due to the credit crunch we couldnt get enough to repay the whole mortgage so he got a seperate loan to cover the shortfall in his name only as I couldn't afford it. At the time he said he was more than fine to do this and he could afford to. We have since split up and he now want's to sell the house and repay his loan. In the current climate I donn't think we will sell the house for enough to cover it. He has said that he refuses to sell the house for anything less than what would cover our mortgage and his loan and if it doesn't he wants half of the money for it which is ike £5000! I do not have this money and cannot pay it to him any other way than if we make enough from the sale of the house. Can he make me pay this money even when he said he was ok to take that loan on his own. Also is there a way to make him sell as he is saying he wont. Im not doing this to be a ***** as if i had the money to give to him I would but I just don't so please don't think that Im fleecing him as that isnt the case. I just need to know my rights and if he can force this on me?? Thanks for reading this. more

Resolved Question: What are my rights?...................................................?

Ok this is a long story and I appreciate your patience! Myself and my partner have split up. We have a joint mortgage. I am currently living in the joint home alone (occasionally he stays when he can's stay at his girlfriends) He pays half to the mortgage and I pay half also. The rest of the bills and utilities are being paid by myself alone. We bought the house together and everything was fine, then we did a remortgage and due to the credit crunch we couldnt get enough to repay the whole mortgage so he got a seperate loan to cover the shortfall in his name only as I couldn't afford it. At the time he said he was more than fine to do this and he could afford to. We have since split up and he now want's to sell the house and repay his loan. In the current climate I donn't think we will sell the house for enough to cover it. He has said that he refuses to sell the house for anything less than what would cover our mortgage and his loan and if it doesn't he wants half of the money for it which is ike £5000! I do not have this money and cannot pay it to him any other way than if we make enough from the sale of the house. Can he make me pay this money even when he said he was ok to take that loan on his own. Also is there a way to make him sell as he is saying he wont. Im not doing this to be a bitch as if i had the money to give to him I would but I just don't so please don't think that Im fleecing him as that isnt the case. I just need to know my rights and if he can force this on me?? Thanks for reading this.I would gladly pay him if i had the money but I don't and he knows this. He has threatened me with making me pay for his loan and I know he does it to scare me as he knows i can't afford to give him the money. I just wonder how much he can make me pay. more

Resolved Question: Should I declare that I have been in a Trust Deed in my letter of sponsorship for Fiancee's Visa application?

My Fiancee' lives in Philippines, we have been in an LDR for 3 years and we plan to Marry in July (Yes, we have met on a number of occasions) All the paperwork is ready for submission to the UK Embassy in Manila, including my last 6 months payslips and Bank statements. Due to personal and financial problems three years ago, I took out a Trust Deed (an IVA) and this will come to and end in February. MY Finances, since 2008, have been healthy, I have take home pay of £2220 per month from my main job and other sources of income, I have a mortgage, car loan and tall my bank statements show that my finances are ok, (money at the end of the month, no overdraft, no bank charges etc etc, no money from public funds). I am unsure, however, if I should mention on my letter of Sponsorship that I have been in a trust deed (and include the letter that confirms its termination in Februray), or if the Embassy will look at the overall "picture" of my finances. I'm worried that informing them that I have been in a trust deed will compromise the Visa application, but on the other hand, if I don't mention it any detail, will that be regarded as being dis-honest ? All our other paperwork is exactly "by the book" and I'm just not sure how to proceed. Thankyou ! more

Resolved Question: Will the Government in the UK bail out the Banks again?

Credit and loan deinquency is going through the roof with more people being unable to repay loans and mortgages. Recovery costs, write offs and the sheer scale of the problem is going to put enormous pressure on the Banks, who have already pocketed a huge amount of taxpayers cash, which was to ease the "credit crunch" and release funds to borrowers. When the whole thing goes "pear shaped" again will the Government give the Banks more of our cash, to get on with their job of repossesing homes and putting their saviours out on the street? more

Resolved Question: What should I start to pay off first?

I have two mortgages. One is on my home in the UK - which is on an interest only basis. This mortgage is a tracker rate at 0.47% above the base rate. I can pay off as little or much as I like with no penalty. My other mortgage is on my home in Spain. I have a repayment mortgage which is fixed at 5% and I am restricted to paying off a maximum of £4000 per year without incuring penalties. I live half my time in Spain and half my time in the UK Now the base rate has fallen so much I have about £500 per month spare and would like to start clearing some of these mortgages. I have no other loans or credit card debts Honest answers with an explanation would be appreciated. more

Resolved Question: Whats my best option to get finance for home improvement?

I'm thinking of renovating my cellar in my house and am wondering what would be my best option to gain funds to do the work.My mortgage company do advances on your mortgage that you pay off over the remaining time left which in my case would be twenty years.Would it be a good idea to do this or would I be better getting a separate home improvement loan from another company.The work has been quoted at roughly 5/6 thousand pounds.Has anyone got any advice? more

Resolved Question: recentley bought a house but now split with partner - shall we rent the house?

Unfortunately my boyfriend no longer wants to be with me. It's all happened so suddenly and I'm still in shock. I love him to bits but can't be with someone who doesn't want me. My family and friends deserve my time more than him. (This is what I keep trying to tell myself anyway!) It only happened 2 weeks ago so it's still sinking in. I have told him we will discuss what will happen with the house when I get my head together! We bought a house 7 months ago. Our mortgage is really really high and I don't know what to do for the best. I can't live with someone who doesn't want me - it really hurts! I've been staying at my parents but they are worried I am running away from a home I pay for and love. He is still living there because he doesn't want to go back to his parents. He wouldn't mind me living there until we sort out the house but I just can't bear it! I have tried to make it work but he doesn't want to. The reason for my post is because I wondered if anyone has any advice? Shall we rent it out? If we do that then we will be still losing money because the rent would be so high if we charge the same as our mortgage/bills that people won't be interested! Do we risk loosing around £300 a month to just rent it out? I really don't think I can handle having any contact with him if we do this route! I'm a believer of losing touch with someone to move on... Do we sell and lose money AND pay for the early mortgage get out fee? Do I get a loan and buy him out? Can anyone help me? I appreciate your time. PrincessPink - 25 years old more

Voting Question: Can a house be reposessed if you are paying your mortgage on time but are missing payments on a loan.?

Can a house be repossessed if you are paying your mortgage on time but are missing payments on a loan which is secured on your home???Mrs Anita Brown.. this is NOT a preaching website,this is an informative site for members of the general public. If your story is true then I am glad things have worked out for you and your daughter... however,it sounds like you work for this guy and want to promote business for you both.This is NOT what Yahoo answers is about! more

Resolved Question: SHORTSALE NIGHTMARE!!!?

I am in a short sale nightmare!! I am supposed to buy a short sale home and close on it tomorrow. I signed all the contracts two weeks ago, gave them my 10% deposit in an escrow fund with an attorney and did all the paperwork for my loan on time on my end. The mortgage broker tells us that the loan was approved last week, yet YESTERDAY he said there was a problem and now we need to come up with an additional 10% down or have someone co-sign in order for us to get the loan and close TOMORROW. HE TELLS ME THIS YESTERDAY! What happened with the loan is something with the debt to loan ratio and that the taxes are going to be much higher on the house than the mortgage broker estimated EVEN THOUGH i brought this up to him SEVERAL times weeks ago, I even called the property appraisal office and the mortgage broker assured me the taxes would be much less when he finds out now that they are not!! Anyway, there might be another potential buyer on this home. What are my hopes in getting out of this mess and getting my $30,000 back if another buyer can take this and the bank can extend the closing date for a few weeks???? I'd dying here, I don't want this house anymore!! more

Resolved Question: Mortgage Broker screwed me... HELP!?

I am in a short sale nightmare!! I am supposed to buy a short sale home and close on it tomorrow. I signed all the contracts two weeks ago, gave them my 10% deposit in an escrow fund with an attorney and did all the paperwork for my loan on time on my end. The mortgage broker tells us that the loan was approved last week, yet YESTERDAY he said there was a problem and now we need to come up with an additional 10% down or have someone co-sign in order for us to get the loan and close TOMORROW. HE TELLS ME THIS YESTERDAY! What happened with the loan is something with the debt to loan ratio and that the taxes are going to be much higher on the house than the mortgage broker estimated EVEN THOUGH i brought this up to him SEVERAL times weeks ago, I even called the property appraisal office and the mortgage broker assured me the taxes would be much less when he finds out now that they are not!! Anyway, there might be another potential buyer on this home. What are my hopes in getting out of this mess and getting my $30,000 back if another buyer can take this and the bank can extend the closing date for a few weeks???? I'd dying here, I don't want this house anymore!!Yes the contract had a final contingency which said we were supposed to get our loan approval done by LAST WEEK. The mortgage broker knew this and didn't say anything!!! Will the bank that has this short sale spare us and give us our $30,000 since we never got a loan??? more

Voting Question: Bank of England slash interest rates....?

The Bank of England have just slashed interest rates by 1.5% What does that mean for me? I own a home on a fixed rate mortgage, have a loan and a credit card and not sure how the rate will help me or in fact if it will help at all? Can anyone help? more

Resolved Question: We live in a greedy little world ?

We live in a greedy little world – That teaches every little boy and girl To earn as much as they can possibly – Then turn around and spend it foolishly We’ve created us a credit card mess We spend the money we don’t possess Our religion is to go and blow it all So it’s shopping every Sunday at the mall All we ever want is more A lot more than we ever had before So take me to the nearest store Can you hear it ring? It makes you wanna sing It’s such a beautiful thing – Ka-ching Lots of diamond rings The happiness that it brings You’ll live like a King With lots of money and things When you’re broke go out and get a loan, Take out another mortgage on your home Consolidate so you can afford To go and spend some more when you are bored Words and music by Shania Twain and Mutt back in 2002. Do you think she could see what was going to happen in 2008? EDIT: Lefty, I was thinking the same. However, since the very sad break up of Shania and her hubby Mutt, I feel she needs me now more than ever and I anxiously await her phone call to become not only my Friday girl, bu the lead singer in my band. more

Resolved Question: I want to ask my mortgage lender for a home loan - need some advice please?

I live in the UK. What are morgage lenders lending criteria? I bought my house through a coownership scheme in February 2008. I own a 40% share in the house. The house cost £165000 so I have a mortgage of £66,000. I want to borrow an additional £15000 for home improvement and debt consolidation. I need £7K for debt consolidation and the rest for home improvements. I have no equity in the house and I imagine the valuation is the same as when it was bought in February but with improvements value would increase. Have I got any chance of getting a home loan with no equity in the property. Would I be better to say the entire £15K I want is for home improvement and not consolidation? I just got a brand new kitchen fitted. The property is in dire need of some improvements and modernising. Thanks more

Resolved Question: explaining why there should be a $700bln bailout. im sick of people commenting without understanding facts,so:?

im British. I dont think everyone really understands the situation right now. but being an economics student, perhaps i can offer some light. almost daily, a bank is crashing, selling itself for next to nothing, shares tumbling, or going bust. who cares? i hear you say. you should care. ... if banks lose cash, they cannot trade. they lend eachother money, profiting through international lending because they make interest on loans. banks need to get loans from other banks, so they have capital(money) to give to us public people as mortgages and loans. when banks are trading well, its competitive, and this means interbanking interest rates are low. this in turn means loans and mortgages to the public are competitive with low rates, because there is plenty of competition and money around. the competition gave people confidence to give massive loans, 110% mortgages, to people who probably couldnt pay it off, or needed to default a few times to enable repayment eventually - which didnt seem a problem 3years ago. but then, the sub-prime market crashed. it turned out people couldnt repay all these 100 and 110% mortgages. this meant the banks in the US had less money (repayments of mortgage) coming in, so they had less to trade with (as descibed above). the lack of trading meant competition, or availability of bank loans pushed up interest rates on trades between banks. gradually banks traded less, hoping for better rates that have not come.... its gotten so bad, that banks have had no money left, and cannot afford the loans from other banks, so they have gone bust. all because people couldnt repay mortgages and subprime loans, which shouldnt have been approved in the first place (so in some ways the banks reap what they sow!) but the biggest problem for us, is when a bank crashes and busts, the public loses its money. anything you had in that bank that was not government underwritten, is lost. your left broke. but you still owe the administrators of the bank, the mortgage loan they gave you so you could buy your house. businesses haveloans and mortgages on buildings. when banks go down, or issues higher rates, businesses struggle to repay, and have to make people redundant. stocks and shares fall because the companies and banks start to struggle. with all the above in mind, i think Bush is being brave, doing the right thing. if the US does not guarentee a writedown of all the 'bad debt' through buying it, which would give the banks money to trade again, the spiral will increase. confidence will dive, and we'l see more mortgages default, people losing their homes, losing money in their bank accounts, losing their jobs as business and banks crash. its a massive decision. but the right one, and i dont think people who say is 'stupid' have an arguement. sure, the public has to pay perhaps 2% tax increase on various income percentages to repay the government tax bailout. but surely this is better than the crash described above, and the consequential fall the US economy. do you not realise, the value of the dollar would dive if this doesnt happen. for americans to go abroard or import products, the price will tripple or more. china and asia will become far more economically powerful, meaning america has less muscle. all your food thats imported, will be more expensive, as will your fuel, clothes made abroard. you need this bail out. even home made produce will be more expensive because of the increase in interest rates businesses will owe banks. but this decision will bring everything (potentially if confidence allows) back down to earth. McCain wants this to be stopped. that effectively destroys your economy... with banks crashing daily (like last night), and knockon effects in europe, im thankful bush ahs the balls to do this. i think people who talk bush down need an education and need to take a look at the bigger issues and potential disaster at stake.  more

Resolved Question: How goods a good golf wife?

An elderly couple were having dinner one evening when the husband reached across the table, took his wife's hand in his and said, 'Martha, soon we will be married 50 years, and there's something I have to know. In all of those 50 years, have you ever been unfaithful to me?' Martha replied, 'Well, Henry, I have to be honest with you. Yes, I've been unfaithful to you three times during those years...but always for a good reason.' Henry was obviously hurt by his wife's confession, and said, 'I never suspected. Can you tell me what you mean by 'good reasons?'' Martha said, 'The first time was shortly after we were married, and we were about to lose our little house because we couldn't pay the mortgage. Do you remember that one evening I went to see the banker and the next day he notified you that the loan would be extended?' Henry recalled the visit to the banker and said, 'I can forgive you for that. You saved our home. But what about the second time?' Martha asked, 'And do you remember when you were so sick, but we didn't have the money to pay for the heart surgery you needed? Well, I went to see your doctor one night and, if you recall, he did the surgery at no charge.' 'I recall that,' said Henry. 'And you did it to save my life. So of course I can forgive you for that. Now tell me about the third time.' 'Alright,' Martha said. 'So do you remember when you ran for president of your golf club, and you needed 73 more votes?'  more

Resolved Question: is this too simple a solution...?

Re: Credit crunch / financial crisis Instead of dumping all the money in the banks pockets, why not give it to the public. If the gov were to divi up, i dont know, say, a couple of billion, and share it all out equally to everyone with a mortgage, would this not be better in restoring confidence? Think about it, and out of a population of what 60 million (?) it will probably be less than half with a mortgage. It would be better for everyone, as the confidence would be restored, and the good times could roll again! 1) we'd have less monthly outgoings, so would have more confidence to spend 2)the banks get their outstanding loans paid regardless, recouping debts 3)mortgaged home-owners credit rating would improve there are many ways this could happen, the gov could contribute towars the monthly payment, or just pay a whopping chunk off... I'm no economist, but it seems to make sense from a certain point of view more

Resolved Question: mortgage advice??????

I am looking to buy a property which is currently holding a market value of £180,000. I am purchasing it due to a change in circumstances for the vendor and they are willing to sell it for £125,000. I do however need some money to do it up and make it into a home as it needs new kitchen, bathrooms etc. Am I able to lend say £150,000 and keep £25,000 to do up the property. I am planning on selling it if the market picks up and considering renting it out short term. A few lenders who I have spoken to will only lend you up to the purchase price. Does anyone know a lender who looks at loan to value against market value rather than purchase price and if so is it possible to do. Thanks xx more

Resolved Question: negative equity selling my home.?

I need to sell my home I live in UK. But I have a 2nd and 3rd charge on my home as well as the mortgage. My house has been valued at £40,000 less than I owe for all the loans. I cant afford to rent it out as the rent wont cover the loans and mortgage I will be £600 a month short. I also have another house that I have tenants in but have no equity in that place either so cant even borrow against that. Can the mortgage or loan companies stop me from selling with negative equity? And can they take my other house if I cant pay them after the sale? Thank you from very worried Sam. more

Voting Question: Life - I am so depressed! Hate my job and in debt?

At the moment I hate my job I am so bored with it I am constantly making mistakes and making myself look like an idiot. I work for my husbands best mate and cant take much more. We are 2 and half months in arrears with our mortgage, so as much as I would like to walk out I can not afford to. We have a secured loan attached to our home as well which we are paying arrears off also. My husband is working all the hours possible and still we struggle. Am so sick and tired of all this feel like just giving the house and back and walking away, but husband does not want to........Any suggestions?Have been applying for jobs since January and have had one interview. I never used to struggle getting interviews and used to be able to pick which job I wanted!Midlands, Uk more

Resolved Question: entering into a joint loan agreement without the consent of a named party?

I have just discovered that my partner has taken out a secured loan on our home. Although I am the principal mortgage payer, she has somehow managed to get a loan in our joint names for which she has made no repayments. Subsequently, I am now faced with the threat of repossession even though I am not a signatory to any sort of loan; I would add that she suffers from mental health issues and is a very good liar. She is now in denial and is refusing to give me the details of the company involved and has destroyed the letter from the recovery firm before I could get the details. It is like trying to talk to a brick wall and she truly believes that she has done no such thing..any ideas or advice would be welcome more

Resolved Question: loan or re-mortgage?

i own my home out right and am currently looking for a loan to renovate my house and i am reading online about re-mortgaging or secured loans and i was wondering if anyone knew what the difference is and which is better? thanks in advance! more

Voting Question: Scared and no where to turn, need help, any suggestions?

I'm completely broke and need to pay 2 secured loans, mortgage arrears of £200 and have the baliffs round on friday if I don't pay £450 and my car needs MOT and repairs. Get paid monthly but we had CSA Deduction of earnings this month which took £600 straight away wheich meant we couldn't pay anything other than the mortgage and food shopping. I have phone calls all the time and the only solution is to get another loan for £2500 which is what I need to get ourselves back on track and the car sorted, but the only loan I can get I need a guarantor for and have no one to ask + the interest rate is huge. any suggestions, i'm so scared I'm going to end up losing my home which I only got last year as I have a 2 year and 5 year and need security for them. Please help more

Resolved Question: House prices and money starting again in the south east - advice.?

Hi all, i have just spilt with my partner of 8 years and i have been forced to sell our lovely 3 bed house as i cant afford to buy him out. I have seen a very small one bed flat in the south east that has been on the market for ages and was thinking of putting in a offer - the flat is on for £165000 but as it has been on for a while i was going to start of at offering £145000. I have a 20k deposite with only a £3500 personel loan as debt that i am looking to clear completely before i move in - so i should be debt free other than my mortgage. I am a bit worried about doing this on my own as i am 27 and never had to do this before - im on 25K pa. Is buying a place the right thing to do? Also i worked out that i could save 6K if i stayed with my Parents for 6 months which will mean i can finish my driving lesson buy a car and furnish my new home - but i would probably miss out of this flat - ehich is the only nice one that i have seen - what to do? Any advice? more

Resolved Question: Help please...thinking of selling my house?

Due to the rising cost of...well everything me and my partner are thinking of selling out house. We have some land elsewhere to build on (planning okay). We are thinking of buying one of these houses - http://www.scandinavian-systems.com/ - and making it as energy efficient as possible. The thing is, our mortgage is interest only and we only bought the house in October but inflation is making it hard for us to get by. Our mortgage is 95K and we have a loan on top of that (tied in to the mortgage) of 13K. If we sell our house for the 95K we paid for it, could we pay a chunk off the mortgage and put the rest towards the new build? For example pay 60k off the mortgage and pay the rest in the usual monthly installments?. We need to reduce our monthly outgoings and if we can do this it will make living much easier! Also, with gas and electricity rising and set to increase by 40% we're panickin a bit!! The home on the website that we want will cost a total of 30K to buy and build.I'm not clear on your answer...do we have to repay the original mortage and then start afresh with a new one? Or can we pay off a chunk of the mortgage in a lump and pay the remaining balance over the usual monthly installments?Oooh no what is a loan modification? more