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Kensington mortgages ( help needed )


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Hi All, I hope there is someone out there who can offer any advice or can possibly help answer some of my questions. I dont know where to start really but here goes.

I had a repossession hearing in june which was suspended for 6 months and I was ordered to pay £50 extra per month on top of my normal monthly mortgage payment but we have got to the point now where we cant afford this mortgage any longer and just want out.

The problem we have is we are in negative equity our property is valued at £110,000 but with redemption penalty we owe nearly £112,000 plus we are being charged £50 month arrears fee , we also have a secured loan with welcome finance with outstanding balance of approx £4,800

What I would like to know is can you change a secured loan to unsecured ?

and also any advice on what I can do with mortgage.

I want to do all this properly not just walk away from it and be repossessed.

Any help greatly appreciated.

Thanks for reading

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ok sit tight for a short time and ask if they will transfer your mortgage to interest only and what would the charges be look at your account and see what penalty charges are on the account pay something every month as much as you can afford do not just stop paying what is the redemtion fee that you will have to pay can you take in a lodger or do anything to elivate the problem dont despair there are ways to try to redeem the situation

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