Questions and Info relating to Property Issues inc, Charging Orders and Repossession

Moderators: TalbotWoods, JaneClack

#165417 :shock:
Hi, Im new here.. I went BR on 10/7, have an IPA and am due to start paying it in Oct.

Im a single dad, my daughter lives with me, work full time, my house has £20k equity but I have no one to buy it. I am still paying the mortgage, not in arrears. Lender is NR, intrest only m/gage.

In this area Letting agents either wont rent to people with a BR credit rating or want 6 months rent up front -- I dont have £10 never mind £3000.
Looks like Im going to have to go homeless and ask for a council house .

Can anyone tell me the process regarding houses please ?
How long before the OR want it ?
Do they get a court order ?
Do I have to go to court and grovel ?
How much notice do I get ?


Time for tea ..
#165422 Hi Rich

I think you posted this somewhere else on here didn't you ? Or perhaps I need to go for a walk !

I assume that you have already decided that you don;t want to keep the house ? If you do, and it's not guaranteed, it would be worth discussing with the OR whether you could remortgage upon discharge to raise the funds to buy the equity then - as you have a child living with you, the OR should give consideration to this.

You may be a bit pessimistic about the letting side as well as there are bound to be private rentals in your area as well as through letting agents - I don't know where in EA you are, but it's worth looking.

If you ARE going to lose the house, it's important that you speak to the OR to explain that you will have to stop paying the mortgage in order to save up for rent, deposit etc, especially if you are on an Int Only mortgage
#165425 Thanks Sandy ,

yeah I did post on the BR area - but thought I may get more info here.. :?

I'm 54, taking out a new mortgage would not be wise, I can't afford it due to the short period involved ie 11 yrs.

I'm already on the council list but it could be ages before I get anywhere, and I don't want to be seen to be making myself homeless, by not paying the mortgage I could be putting myself in that situation - better I think to let things take their course.

I did a quick phone poll of the letting agents in the area ( Ipswich ) and its pretty much like I said in the first post .. no chance. Perhaps a private rental would work but theres little long term security in that area. I would prefer to get a housing assoc house but you have to go through the council list.

back to the original question..
How long before the OR decides to sell ?
How much notice do you get ?
Do you have to go to court ?

tea and a biscuit I think ... :P