Moving with secures loans

[Emmyj18]

Hi everyone.
I am trying to move house and have 2 secures loans. One with welcome finance and one with blackhorse fiance. To break even I would need to sell the house at 74k .... it' valued at 55k at best.
I feel stuck. Both loans are now with 3 party companies and when i received an e mail from them it said unsecured loans. They also are not.on my credit file at all. I have checked several sites.
is there a way I could move the loans or am I stuck?
Thanks in advance

[Diana M]

I am trying to move house and have 2 secures loans. One with welcome finance and one with blackhorse fiance. To break even I would need to sell the house at 74k .... it' valued at 55k at best.
I feel stuck. Both loans are now with 3 party companies and when i received an e mail from them it said unsecured loans. They also are not.on my credit file at all. I have checked several sites.
is there a way I could move the loans or am I stuck?

Do you mean you have two secured loans in addition to the first mortgage? I think you do.

It's normal to need permission to sell a property from a lender/creditor who has a charge on it if the property has negative equity because they will be surrendering their security.

Some lenders/creditors are content with the negative equity situation if they are getting the loan repayments and have no arrears. They live in hope that the equity will 'grow back' as the years go by.

Who was the original lender (the business with the first charge), how much was the loan/mortgage, and how much is still owing?

The same questions for each of the two secured loans (amount owed and any arrears)? Also please say who has purchased these loans since you imply that they have been assigned to a new business.

Are these loans interest only or repayment (reducing the capital borrowed)?

Are these loans in your sole name or in joint names with anyone else?

You say you are trying to move house so will you be taking a mortgage on the next place or are you planning to rent etc? I ask because some lenders will consider permission to sell on condition you offer them alternative security (a second charge) on the next property.

You can check to see if the new 'owners' have a chege on your property by doing a search on the Land Registry website (the fee to download a PDF is about £3).

You can do that here > https://eservices.landregistry.gov.u...455.1523292267

(Make sure you don't use any of the copycat websites!)

A little more information will help.

Di