Hi I am trying to obtain some help for some close friends who naively accepted a 100% interest only mortgage about 8 years ago with no capitol repayment plan put in place. They bought the property in Scotland at peak price period. It is a sought after area outside Glasgow 5 min walk to a station with a 15 min commute into Glasgow City Centre. The area has been a low turnover in regards to property sales but downside has been an elderly population who have lived there all their lives. Over the last five years a significant number of properties have hit the market from deceased or elderly moving into homes. Some of these properties have required significant modernisation due to the older generation not updating the properties. This has led to average prices falling and bargain prices on those properties. Naturally most have been modernised now but this has impacted on local values in terms of a falling average sale price. Basically my friends need to rid themselves of the interest only mortgage but are concerned if they approach the lender who discovers there is no capitol repayment plan in place it will have a negative impact and could result in the mortgage being called in. The have had hefty loan and credit card debts putting children through education but now the children have left home and work, they have concentrated on paying off these debts. There is no question they can afford to make the repayments on a standard repayment mortgage given the amount of other debts they have cleared. The downside is the property is in negative equity and a general read through the internet does not off much hope on them being able to remortgage. Loan aprox £135k value of property £100-£120k depending on valuation. They are in need of replacement windows and a new kitchen and possible rewiring which may impact on any valuation. I guess I am seeking any opinion that may help me to guide them. Sorry for the long post but any advice would be helpful. I think the broker who sold the product didn't reinforce advice about capitol repayment.

Hi Guys, I have a business overdraft of £13k. We have been sat at the deep end of it for about 2 years now. However business has started to a bit more profitable and we are slowly starting to eat at it. Natwest usually renews the overdraft every september for a cost of £250. They renewed it last year but because of things being tight back then i stopped taking a wage to help boost cashflow. This meant i couldnt pay my personal unsecured loan i have with natwest. I have a personal guarantee on the overdraft and they have now sent me a letter saying they are only renewing it till march 1st. They want my lastest company accounts which wont be finalised until june and are demanding i start repaying my personal loan as it is linked to my business account. I wasnt under the impression that the two accounts could be linked together. Its a limited company if that makes a difference. They are talking about possibly turning the overdraft into a loan. But they want something sorting or they will turn it over to the debt collection department. I just wanted to get some advice as to how i should proceed. If they remove the overdraft will they persue me for the full amount in one payment which i cant pay. Also can they take my house? or will they try and arrange a payment plan to pay the money back? Im hoping you guys can help me.

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Evening I am trying to search for Govt grants to help cover the costs of re-configuring a property. Relative has dementia. Spouse is sole carer - and it is really too much work for them. I want to get financial help to convert relative's existing home to make it more user-friendly for them and their spouse. There is currently no downstairs toilet/bathroom. Soon relative will no longer be able to get upstairs to sleep or bathe. I would like to reconfigure parking and garage space beneath relative's house to add a bedroom, bathroom and toilet. There are already two rooms - a bedroom and bathroom - above the car parking space so with the additional single garage there would be plenty of space to use, to create a very user-friendly area for this relative. We would also like to consider a live-in carer. Are there Government grants available to help with the cost of converting relative's house ? And to help with the costs of a live-in carer ? Where do I look?

I have a credit card with Lloyds TSB that has a fairly sizeable balance on it - several thousand pounds. I can meet the monthly payments at the moment, but (as predicted) the bank is adding as many charges as they can and increasing the % APR on a regular basis! Like I say, I am making the monthly payments, but it's really not getting me anywhere as far as paying off the balance. It just feels like I'm spinning my wheels, as their increases in the APR will mean I'll NEVER pay it off in the present circumstances - I'll just end up pay around £100 to them every month. I want to just convert this into a loan that I pay off every month and that actually pays it off. Right now, the monthly payments aren't actually paying anything off - it's almost like my account is simply parked. With a loan, I'd know that I'm actually paying something off towards a goal and it wouldn't be so aimless - I'd know how many months left to pay off, etc. I understand a bank might not want to do this as they'd, ultimately, be getting less money out of me in the long run. Is something like this possible? How would you go about negotiating with a bank to sort out something like this? Is there a letter template or something that you'd recommend I send in order to convert my credit card balance into a loan? Any help you can give would be much appreciated. Kind regards,