If you were issued APNs in 2015 could you afford to pay them.
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57Yes29.82%17No70.18%40 -
Straw poll ...
Nope - not even given time to pay over 2 years or longer ..."If You Tolerate This Your Children Will Be Next ..." -
I have PMed the mods to request an andyw option. I will vote when the andyw option arrives. I suggest "APN=AndyW Pays Nothing".
As you are a mate I have asked for your perma-ban to be commuted to a month.....Comment
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No
No, I can't afford it at all. I have no house, no savings, no car, no assets whatsoever that I can sell, just come off a DMP so no chance of borrowing (lol) the level of money they'll want. I've got a good job but can't afford to pay APN within two years.Comment
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Yes... by taking equity out of my house, but I would never be able to clear my mortgage, so would need to sell up.Originally posted by DonkeyRhubarb View PostComment
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I imagine this will be quite a common situation.Originally posted by DesparateDan View PostComment
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Still no AndyW option so still not voted.....Comment
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No
Nope.Comment
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By Remortgaging
Is the only way I can possibly afford,
However a word of warning for those who do need to remortgage, lenders will not loan money if the reason is to pay a HMRC debt (or any debt for that matter). So if you wait until the actual APN comes in to get the mortgage and you give another reason (e.g. to buy a 2nd property, extension) you are technically committing mortgage fraud (e.g. giving a false reason for asking for the money).
If however you do so before hand (as technically there is no debt at this point) you could do so without technically committing mortgage fraud as once you have the money its up to you on how to use it.
Other option is to take a commercial loan, but thats way more expensive..
My point - be pro-active and start looking at mortgages now rather than waiting for a APN to roll in, having an offset mortgage can effectively stop you paying interest on the extra funds until you need it.Comment
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