I am a carer for a lady who is very ill with (possibly terminal) cancer. She has a large, interest only, mortgage approaching £1M on a property that was valued around £1.2M.
She is a well known portrait artist who, when well, comfortably made her mortgage payments through her work.
Now she is ill she is unable to paint and can no longer make payments. She is not covered by any insurance policy. She tried selling the house for 6 months but got no offers despite reducing the price to under £900K. She has taken it off the market. She has a nine year old daughter with learning difficulties and is finding it very hard to cope. I think she would now find moving very difficult indeed.
She is paying around 5.6% on a fixed mortgage & the Macmillan cancer charity has approached the bank with a request to reduce the interest but have had no reply.
She is in a desperate state expecting to loose her home while suffering so much. Does anyone have any ideas that I could suggest to her?
She is a well known portrait artist who, when well, comfortably made her mortgage payments through her work.
Now she is ill she is unable to paint and can no longer make payments. She is not covered by any insurance policy. She tried selling the house for 6 months but got no offers despite reducing the price to under £900K. She has taken it off the market. She has a nine year old daughter with learning difficulties and is finding it very hard to cope. I think she would now find moving very difficult indeed.
She is paying around 5.6% on a fixed mortgage & the Macmillan cancer charity has approached the bank with a request to reduce the interest but have had no reply.
She is in a desperate state expecting to loose her home while suffering so much. Does anyone have any ideas that I could suggest to her?