My mother is in financial difficulties and it is unlikely she will be able to maintain a mortgage on a 6 bedroom house with a large garden in a good area in north london, that is rundown, with damp problems, bits coming apart. She need to sell it off, pay off the mortgage then down size and have money left over as a pension. A conservative estimate would be half mil for house, she still has 250,000 in mortgage, which actually doesn’t leave her much, in terms of buying a flat and living in london.
The question is, in order to maximise the amount she gets (every penny helps as she does not have other income)
Should we get rid of the house as it is, should we borrow somemore from the mortgage to do some careful renovation and sell it on, although structurally, this maybe more hassle, or should we get planning permission for flats, then sell on with this, as it is in an area that is increasingly been developed into flat? Comments from estate agents/developers welcome!

Rent Back

My story is a bit like divorce but involves myself and my younger sister.

The short version is that I bought a run down flat with my sister and we have a joint mortgage. The plan was to do it up and split the profit 50/50. What happened was I ended up having to do the large majority of the renovation work and pay for most of the materials, while she made excuses and eventually refused to acknowledge that she wasn’t contributing to anything but the mortgage.

Now the work is finished (and we hate each other) we want to sell, but she is refusing to accept less than 50%. My parents are not helping and say that the work I’ve done doesn’t make any difference to how the profit should be split.

So, my question is does the work done to improve the value of a property come into consideration at all legally? And what is the likely hood of my being granted a higher share if it were to go to court?

Passive Income

the money to pay my rto bill thats due on monday and I don’t have their items (laptop and tv). My family member has them downstate using them for college. WHAT can I do? Its impossible for me to get the items back right away. Do I tell rto I don’t have them? someone stold them? or what? Will I go to jail? These people at rto are extremely mean.

Passive Income

How long do you have to live in a property without paying rent until it is officially yours? My friend has been living in a cottage for approx 8 yrs now and she has done it up etc as it was a mess. The guy who owns it on some country side asked them to move in so it wasn’t left on its own. Thanks

Rent Back