P
paddy bb
Guest
hi there first post looking for addvice
I got a bridging loan from credit union to build my own house with a view to getting a mortage.
Three years later house is 3/4 built and cant get mortage. I have beening trying for about a year and a half.
Both myself and wife are working and were renting a house for €700 euros a month.
I have told the credit union the story we want to live in the house but cant get money to finish it or pay them back.
I have now told them that we will try to sell the house to just pay them back but house not finished so will only get around €180k to €200k.
I have offered them the keys of the house they said no.
Today in the post i recieved a letter from Cabot Financial looking for full amount.
any ideas on what to do?
We could service a mortage of about 300,000.
thanks
I got a bridging loan from credit union to build my own house with a view to getting a mortage.
Three years later house is 3/4 built and cant get mortage. I have beening trying for about a year and a half.
Both myself and wife are working and were renting a house for €700 euros a month.
I have told the credit union the story we want to live in the house but cant get money to finish it or pay them back.
I have now told them that we will try to sell the house to just pay them back but house not finished so will only get around €180k to €200k.
I have offered them the keys of the house they said no.
Today in the post i recieved a letter from Cabot Financial looking for full amount.
any ideas on what to do?
We could service a mortage of about 300,000.
thanks