Mortgage Help

Hi guys, I'm wondering if I could provide some assistance with me on the best way forward.

My Father passed away just over a year ago and the plan between my brothers and I was to sell the house.

However, things aren't moving forward and I remember my Father wanting my family to live in the house.

Now this is the tricky part.

I don't think our credit rating is the best and I don't think we'd get a mortgage. We've got some recent defaults on our personal credit, but have never missed a mortgage payment.

A brief breakdown of our finances are:

Home value - about £65k

mortgage (santardair) - £26
home owner load (London scottish) - £27k

A combined personal debt of about £10k

We were thinking of selling our house, paying the mortgage off on our house, pay £5k to the new mortgage and pay the personal debt off and transferring the homeowner loan

So we'd need a mortgage 0f around £25k - my Dad's home is worth around £85k


Is that doable?

The other option is to sell our house and pay off both the homeowner loan and the mortgage, but I don't think in this climate we'd make much, if any profit out of it.

What is your advice?

My wife's credit report is most likley far better than mine, but still pretty poor.

Thanks in advance


Hunka