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Hi

I am new to this site so hope i have got the right section.

My husband is going to be redundant in Oct. we have a secured loan from first plus.

The monthly payment is £690.00 when made redundant we wont be able to afford this.

my mum has given as a gift £30,000 i got a settlement figure as follows

Total amount payable £57570.32

rebate £12022.57

admin £150.00

 

total amount to settle £45697.75

 

I rang FP they said write in see if they would accept £30,000 i final settlement i doubt they will .

They have said the we will still have to pay the £690.00 per month and the term will be lower this is of no use as we wont be able to afford that amount. The first mortgage with Halifax would accept the £30000 and the monthly payment would be reduced by £250.00 per month but i really want shut of first plus i am in arrears with them of £345.00.

Any advice please thanks

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