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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31300
Experience:  Over 5 years in practice
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I have a question regarding my property which is one

Customer Question

Hi, I have a question regarding my property which is one deed, but has two buy-to-let mortgages and a business loan on it all HSBC. Receivers have been appointed due to problems paying the business loan five years ago (£1,813 PCM) and then me stopping paying the agreed £1,200 18 months ago when thinking I would sell soon. HSBC are owed 165K plus 33K on the business loan, which could be paid back with the sale of one part of the property. The two buy-to-let mortgages are relating to a flat and a studio flat and are paid-up have only 25K and 47K now owed. Last month I paid £600 for a marketing valuation which gave a value of 825K for the whole lot. I would like to keep as much as I can. How do I go about getting the shop at the front sold which at £235K gives a 7% yield to an investor (yearly income = 7% value). Although HSBC have divided for loan purposes, there is only one deed. The deed is with them. Thanks in advance, M.

Submitted: 2 years ago.
Category: Law
Expert:  Nicola-mod replied 1 year ago.
I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.
I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Expert:  Nicola-mod replied 1 year ago.
I apologise as we have not yet been able to find a Professional to assist you. Do you wish for me to continue to search for someone to assist you or would you like for us to close your question at this time?
Thank you for your patience,
Expert:  Nicola-mod replied 1 year ago.
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