I sold the property I owned in Rochdale, south-east London for £2.8m after my marriage broke down and I found myself in debt to a man who had taken out a loan to buy the house in 2003.
“I’d been married for 12 years, I’d had a baby and we’d bought our first home in the early ’90s,” he said.
“We’re very happy here.
We have a fantastic life.”
But then he said he had been forced to sell because of a “financial situation”.
“We’ve been very poor.
The mortgage was paid off.
My wife had been a single mum and I was in my mid-30s and the mortgage was almost due to come due,” he explained.
“My wife was in her early 60s and we had a very big house and had a car.
We had a good income, I was paying our own bills, and we were going to have a good life.”
When I met him, the house had been in his family for more than 30 years.
He told me it was in a good condition, “with no major damage”.
The house is owned by a family he says had been paying him his rent for 10 years.
It is located in the affluent west of the city, just a short walk from a shopping centre and a church.
The property was sold in January, and he paid £5,938 for it.
The man I spoke to said he was also struggling with the debt and he had bought the property with his wife in 2004.
They had a small deposit, which he had to repay.
The couple have three children and a grandchild, and they have had to work to make ends meet.
“I’m not the only one with problems,” he told me.
“It’s not an isolated problem.”
He said he would continue to be “on the hunt” for the money, which “is going to take time”.
“We’re in a really good position,” he added.
He said he wanted to sell the property because he had no other choice.
‘We can’t afford’ “My wife’s a single mother and we’ve been paying our mortgage for 10 or 12 years,” he continued.
“The mortgage is due to go to £100,000, which is quite a large amount of money.”
It’s just going to be a very expensive property.
The council and my local council will say they’ve got the money but I don’t know how much.
They’re going to pay a loan from the council, which means I’m going to lose out.
“The house is in a residential area and has been for 30 years, he said, adding that he would “not sell it” unless he could get some money to pay the rent.
In January, he sold the house for a record £1.1m.
After his wife and children left Rochdal in 2010, he started to worry about how his finances would change.
But he was reassured that he had a mortgage that he could repay and that he “had the ability to do that”.
He told me that after he sold, he had had “an absolutely fantastic life”.
I asked him if he had any regrets about selling the house.
His answer: “No, not really.”
He explained that he bought the house to give his wife the opportunity to take a job in the UK and live with him in Scotland.
He said that “it wasn’t a good situation” and he felt that “if I’d bought the home back in 2003, I would have been in a much better place”.
The couple’s two daughters were born in Ruchdale and were living in London, but his wife said that he was “not the best of mates” with them.
While he said that the family were “very happy” with their new home, he also revealed that his children had been struggling to learn English.
I can’t.” “
It is very hard for me to explain to them why we’re in this situation.
But the man who I spoke with said he hoped the property could help “bring them together”.
As he was discussing his plans for the future, I asked him what advice he would give to others in similar situations.
“[I] don’t think it would be a good idea to sell your house, because the situation is so bad,” he replied.
When I asked why he was selling, he replied: “It will be very difficult for my wife and me to make that transition.”
“But we can’t really afford it.”
Rochdale has been on the market for just over a week, with no sales since.