Welcome to the DAD.Info forum: We are not open to new posts at this time
Our forum aims to provide support and guidance where it can, however we may not always have the answer. The forum is not moderated 24 hours a day, so If you – or someone you know – are being harmed or in immediate danger of being harmed, call the police on 999.
Alternatively, if you are in crisis, please call Samaritans on 116 123.
If you are worried about you or someone you know is at risk of harm, please click here: How we can help
is there anyway that any bank / organisation will either buy or lend against the % of equity I hold in my matrmonial house (30% as set out in a court order) even though I would be unabl eto get to this until my youngest sone leaves full time education (ten years)?.
My debts have been mounting and I have a large % (currently worth around £60k but increases in line with house price etc) but obviosuly cannot get to it.
Any help greatly appreciated
Hi Johnhol
I am not able to say whether any bank or organisation would give you a loan against the 30%equity you own in the property, especially as you are not able to get to the money until your son leaves full time education.
You may need to seek legal advice regarding this.
Also, it isn't always a good idea to secure debt on property, as this puts the property at risk if you were unable to maintain the payments.
It may be better to seek alternative ways of dealing with your debt situation without having to resort to using this money.
If you would like to explore all the options to deal with your debt situation, you can call for an appointment to speak to one of our debt counsellors, as it is difficult to give you detailed advice via the forum without knowing your full financial situation.
To book an appointment with one of our trained counsellors you would need to contact our helpline free on 0800 138 1111. Lines are open Monday to Friday 08:00-20:00. Alternatively you can visit our online debt advice facility called Debt Remedy. Debt Remedy would assist you in completing a financial statement and you would be provided with tailored advice on the best way to deal with your situation. This link will take you directly to Debt Remedy http://www.cccs.co.uk/ref/drcu
Regards
Sue
- Samaritans – call 116 123
- Shout – text the word ‘Shout’ to 85258
