Using money to pay of debt
Hi Guys
Firstly thank you for taking the time to look at my question.
I'm in a bit of debt. To the tune of about £30,000
I own an apartment in Bulgaria, outright. There are no secured loans or mortgages against it and I have a Bulgarian Bank account.
I wish to Mortgage the Apartment in Bulgaria, and use the money to pay off my debts here in the UK.
I have received a mortgage offer from a Bulgarian bank. However, they stipulate, that the funds must be used in Bulgaria.
How can I use these funds to pay off my outstanding debts here in the UK, and satisfy the lender?
Many Thanks
Guitargary