Help with letter to Welcome Finance

[niklepic]

We have a suspended possession order on the house which we have been ordered to pay our monthly mortgage payment plus £100 off the arrears - the total of this is around £850 (we're now paying 10.4% interest since our fixed rate ended). We also have a secured loan with welcome for £15k which we're paying off at £291.

 

Anyway, we've been paying the arrears etc on time for the past 14 months or so however my other half has now been signed off work (now been off for 7 weeks) due to illness and we haven't been able to afford this month's installment on either the loan or the mortgage.

 

We have the house on the market for o/o £84950 which puts us in about £10k negative equity. A lady has been today to view the house for the second time and we believe she's very interested but want a quick sale. We've spoken to welcome about us selling the property as obviously there will be a shortfall, however they have said that they will not consent to a sale unless the receive 90% of what we owe them. This is going to be impossible. I have looked into borrowing to cover the shortfall but my credit rating is absolutely rubbish due to the problems with the mortgage etc and have had no luck.

 

Is there anything i can possibly do to get welcome to change their minds? Obviously as we've not paid our mortgage either this month if Welcome doesn't agree to the sale we're going to get repossessed in any event. At least this way we can sell it for the max we can get - if we're repossessed they'll probably get nothing from the sale. Does anyone have any idea what to write to them to pursuade them to let us sell. I have every intention of paying the loan off after the sale but obviousy they don't want it unsecured!

 

Definitely stuck between a rock and a hard place at the moment and any help will be greatly appreciated.

 

Sorry about the essay x

[niklepic]

Heehee. Take it i rumbled everyone but thanks for reading. Not to worry have taken the loan agreement to a solicitor in work who have told me its unenforceable and they have sent a Letter of Claim advising them, amongst other things, to remove the charge. Provisionally accepted offer of nearly full asking price on house today so fingers crossed will go through smoothly.