Money troubles

[trueblue1234]

Well the recession is really starting to kick in. Built a house on our farm land a few years ago. Mortgage taken for £120k. It's down now to bout £115k or so.  Also have a £10k loan with the bank. Mortgage up for renewal now.
Am self employed. And work has taken a bad dip. Struggling with payments for the mortgage and the loan. Now the mortgage is jumping up aswell.   
Selling the house would be a last resort as it's on our farm land ( that's if it could be sold to begin with!!)
so just wondering if anyone has any advise that may help? Considered taking out £10k more on the mortgage to clear the loan but as the value of the house has dropped don't think this will be an option now. 

[Rois]

Ask Bank if they'll let you switch onto interest only temporarily? Worth a punt.

And I wouldn't be too sure they wouldn't let you increase mortgage because of value of house - wasn't it just a self build mortgage ie just for actual cost of building? So valuation might surprise you.

Present bank with either option and let them choose.

[sammymaguire]

Feel for you dude, can't add anything to what Rois says but seems like good sound advice to try

[Peter Solan the Great]

Another Celtic cub with notions of grandeur. No wonder Ireland is in the way it is in. Pay your debts back like a good lad and stop whinging.

[Cold tea]

Another Celtic cub with notions of grandeur. No wonder Ireland is in the way it is in. Pay your debts back like a good lad and stop whinging.

Worzel Gummidge put on a new head to become a different incarnation, what do you do Shane for a different pseudonym, put on different pants, or cum in different pants - you are as funny as a kick to the stones!

[Franko]

Trueblue I think you'll find that the banks are easier to deal with than you think. At this stage they will try their level best to keep loans 'performing'. You need to go in with an open mind though. The sky plus and gym membership will have to go. If you show them that you are willing to work with them you may be pleasantly surprised.

[stew]

Another Celtic cub with notions of grandeur. No wonder Ireland is in the way it is in. Pay your debts back like a good lad and stop whinging.

Worzel Gummidge put on a new head to become a different incarnation, what do you do Shane for a different pseudonym, put on different pants, or cum in different pants - you are as funny as a kick to the stones!

Well said, he was much better as the clampett who started the death notices, Shane can be very funny now and again.

[Cold tea]

Another Celtic cub with notions of grandeur. No wonder Ireland is in the way it is in. Pay your debts back like a good lad and stop whinging.

Worzel Gummidge put on a new head to become a different incarnation, what do you do Shane for a different pseudonym, put on different pants, or cum in different pants - you are as funny as a kick to the stones!

Well said, he was much better as the clampett who started the death notices, Shane can be very funny now and again.

Very debatable!!

[ludermor]

Another Celtic cub with notions of grandeur. No wonder Ireland is in the way it is in. Pay your debts back like a good lad and stop whinging.

Worzel Gummidge put on a new head to become a different incarnation, what do you do Shane for a different pseudonym, put on different pants, or cum in different pants - you are as funny as a kick to the stones!

Says the man with 50 posts!!

[Cold tea]

Another Celtic cub with notions of grandeur. No wonder Ireland is in the way it is in. Pay your debts back like a good lad and stop whinging.

Worzel Gummidge put on a new head to become a different incarnation, what do you do Shane for a different pseudonym, put on different pants, or cum in different pants - you are as funny as a kick to the stones!

Says the man with 50 posts!!

Do you need more than 50 posts to offer honest observations!!!!!!!!!!

[Tony Baloney]

It's hardly O'Neill's style to slag people in financial difficulty. He seems a civil cratur.

[Cold tea]

It's hardly O'Neill's style to slag people in financial difficulty. He seems a civil cratur.

He's an attention seeking toolbag!

[stew]

Trueblue I think you'll find that the banks are easier to deal with than you think. At this stage they will try their level best to keep loans 'performing'. You need to go in with an open mind though. The sky plus and gym membership will have to go. If you show them that you are willing to work with them you may be pleasantly surprised.

Well said franko, I bought three properties in the past three years in ireland, two in Kildare and one in dundalk and the banks have been more than willing to work with me on those. it is worth a shot, especially once you explain the fact that this is family land, they are more apt to try and help you given the tenure of the family and the equity the family has in the area.

[stew]

It's hardly O'Neill's style to slag people in financial difficulty. He seems a civil cratur.

He's an attention seeking toolbag!

No he is not, unless of course you are he. 

o'neill likes to lighten this board up and he does a great job of it in my opinion.....................most of the time, sometimes he is a carn.

[ludermor]

Another Celtic cub with notions of grandeur. No wonder Ireland is in the way it is in. Pay your debts back like a good lad and stop whinging.

Worzel Gummidge put on a new head to become a different incarnation, what do you do Shane for a different pseudonym, put on different pants, or cum in different pants - you are as funny as a kick to the stones!

Says the man with 50 posts!!

Do you need more than 50 posts to offer honest observations!!!!!!!!!!

you seem to have picked up a lot of observations in your 50 posts............unless...........nah , cant be!