Proposal to address arrears and switch mortgage.
New Site ( Work in progress) Value €150,000
Full planning and works have commenced to floor level.
Propose sell existing house (Value €550k) and pay off €250,000 ( Serviced amount) + €20,000 arrears.
Transfer parked amount €130,000 to new house and begin repayments.
I would pay off the total balance but this would leave me short to complete new house and I can't get any credit.
Can't sell site as planning based on local needs.
I had to commence work on site otherwise planning would have expired.
Brendan, I don't appreciate your comment.
(Nothing changes.
You have a bad credit record. It will continue.
That will protect you from borrowing more when you are unable to repay your loans.)
I don't believe you have forgotten the recession and more recently the current pandemic, so been self employed I got hit pretty bad, so now I'm trying to find a way back, I think we all deserve a second chance.