Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
We have a portfolio of nine properties all over UK, bought in 2007, interest only mortgages. Half are nice little earners, no problem tenants, but a couple have been nightmares with one in particular costing us a fortune.
Everything has gone wrong with the house itself. We’ve had to evict every tenant, and the house is now in negative equity.
Four are currently untenanted and we feel like the little Dutch boy with his finger in the dam while our money pours out daily.
It would be nice to hold on to three of them, but currently we are sorely tempted to just hand the lot over to one of those companies that just buys up portfolios for silly money, even though I’d probably cry myself to sleep over all the wasted potential.
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