My gfs mum is in debt - not entirely her fault, just circumstances sometimes overtake peoples ability to cope with them. Her bank send her an advisor (and charge £100 for the privilege)who suggest downsizing as the best solution. She agrees, her kids are grown up and a smaller house would be better. She applies to the same bank for a mortgage on a smaller house... and is refused... twice.

Things are looking a bit bleak for her atm being trapped by stupid banks who don't seem to allow people to follow their own advice.

Twats.
( rjmrjm, Thu 23 Feb 2012, 19:05, 5 replies)

Has she not considered renting.

( The Mock TurtIe ™ --- Thinks you are a cunt, on, Thu 23 Feb 2012, 20:22, closed)

She seems to have missed the crucial step of selling her current house,
which would release the equity she needs to put down a deposit for the new mortgage.
( monster munch person, man, woman... camera... TV?, Thu 23 Feb 2012, 21:55, closed)

She already has a buyer lined up for her current house... ready to commit
Rental isn'r really an option as most rents where she lives are actually more expensive than mortgage payments.
( rjmrjm, Thu 23 Feb 2012, 22:01, closed)

How about...
renting out a room in her current house?
(Kyzia was here on, Thu 23 Feb 2012, 22:18, closed)

If she has a known history of being in debt, she won't have any choice but to rent.
I speak from experience here.
( The Mock TurtIe ™ --- Thinks you are a cunt, on, Thu 23 Feb 2012, 23:18, closed)