High yield, Sell & Buy

[andy]

Hello,
Good day to you all, need some advice on selling a house, spoke to mortgage advisors cms and oak hill relating to raising capitol, my business partner has normal residential mortgage which we need to raise capitol from. BUT my partners ex husband is not complying to court order and refuses to sign ANYTHING despite court awarding soul possession to my partner including all proceeds of the sale to her, Here?s the rub, cannot remortgage a BTL or raise capitol without HIS consent. He has the IR chasing him for 50k and is obvious where they will come looking when he declares insolvent ! So the upshot is we cannot refinance but can only sell, we are now bereft of ideas and if no realistic solution can be found then property up for sale 245k 10.08% yield I understand that is a VERY good yield and want to keep but better take money and get two props and start over... any other alternatives people ???
Thanks
Andy

[alexander]

Hi Andy,
With all that in mind: I wouldn?t sell. I would positively, unequivocally, absolutely, unhesitatingly, definitely and without doubt (and many more adverbs?) find a solution to the issues and hold on to this property. In fact if I had some free capital at the moment if might have made an offer?.
Is a rethink possible?
Thanks
Alexander

[vngrape]

With that yield, I would say do not sell it. But you really have to do something about your partner's ex-husband if you really want to pursue your plan. Have you ever considered compromising? There must be something he wants.

[Robert Gavin]

I definitely agree!

[Anthony]

It is a very good yield.
In fact Brazil offer similar yield potential for certain investments, so I´d hang on to the property if you find a solution

[eyeC]

if you cant get finance for your property most likely the buyer wont so it will be hard to sell

[Donny]

Originally Posted by vngrape

With that yield, I would say do not sell it. But you really have to do something about your partner's ex-husband if you really want to pursue your plan. Have you ever considered compromising? There must be something he wants.

i totally agree with this

[FinancialFreedomGurus]

Hi Andy

There are ways of purchasing a property without needing a deposit so you may not need to sell after all eg:

Gifted Deposits
Private Investors
Residential Mortgage
Unsecured loans

(and one of my favourite where you can actually get cashback on completion (and no its not a cashback mortgage)

Feel free to PM me for further info.

Financial Freedom Gurus

[Olly]

Please be careful FFG...'Cash-Back' on completion can be regarded as fraud. Prior to the sub-prime situation, most banks & mortgage co's have literally turned a blind eye to this practice.

Now the FSA is investigating these kinds of deals and prosecutions are apparently in the wings. This also follows from a clamp down on this in America & Canada recently.

Olly

Originally Posted by FinancialFreedomGurus

Hi Andy

There are ways of purchasing a property without needing a deposit so you may not need to sell after all eg:

Gifted Deposits
Private Investors
Residential Mortgage
Unsecured loans

(and one of my favourite where you can actually get cashback on completion (and no its not a cashback mortgage)

Feel free to PM me for further info.

Financial Freedom Gurus

[taylorka]

FFG would be interested in hearing more about finance options for overseas properties. Please PM me at your earliest convenience.
Regards
K