Repossession

[ktjj84]

I live with my DP in his and ex's owned home. However the house has been on the market 24 months with no joy of a sale, and now the mortgage is in arrears due to the ex partner not paying the repayments for the last 12 months. We are unable to pay the mortgage by ourselves. A letter has now come regarding court and repossession.

I'm pregnant and due in 10 weeks time, i just want to get a cheap rented house for the security for me and my baby without the threat of repossession and viewings, however my DP wants to stay in his owned house for as long as possible then move when need be.

Advice anyone?

24 months? have you not considered lowering the price? much better than reposession....
have you taken advice on this? i urge you to.

Why would the ex pay if she doesn't live there?

Hi There,

Have a look at this web site www.andyoliverproperties.co.uk. I met this guy recently he buys up property that is going to be reposessed. That's as much as I know and I haven't had any dealings with him and so cannot vouch for him.

Best of luck.

i think you need to do everything you can rather than be repossessed - you will struggle to ever buy a property again

2 years with no interest is a long time, am presuming you have had feedback off the agents , and have lowered the price?

the companies that buy for cash etc will pay an awful lot less than market value i believe. but that might be better than nothing

you need a plan, and if the mortgage is in arrears, DP needs to get his head out of teh sand and ensure some sort of security for you and the baby

If you are eligible for local authority housing it is probably better to stay put until you are evicted if that is your only option as then you will be moved to the top of the housing list.
But agree with auntylulu if there is anything you can do to stop being repossessed it is worth a try first
Good luck.

That's true to get a council property you need bailiffs to remove you from the property and even if you go into private every day you stay in the house is a day you don't pay rent elsewhere.

So, you do realise they can chase you for the difference between what it sells for and what you owe up to 12 years later, does the ex realise that too ?
Drop the price to whatever you paid for it, if you get no interest, turn up to the court date, explain to the judge, I presume you've paid your half of the mortgage rather than bury your head in the sand ?

And noddy the ex is equally liable, no doubt if there was a profit to be split she'd be there with her hand out demanding her share.

Equally liable for teh mortgage yes but the couple living in it should be paying the expenses since she has moved out and presumably pays to live elsewhere.Slash the price and sell the house is your only choice.

The house has been reduce 30k, what its up for now is the bare min to cover the outstanding mortgage. Lots of viewings in two years, but no offers, the usual estate agent feedback, too small, too close to the main road, 'thought it was three bed'. We are still paying the half the mortgage, i pay the other bills. The ex was lost her job, so is unable to pay anything.

Tried talking to the mortgage comp- they dont want to help, i've tried to buy the ex out- i dont earn enough to even be considered, i've just left university and only work part time, my boss will not let me up my working hours.

I've tried the council route, the points i have been awarded are low because we haven't been thrown out yet. I really dont want to get to the point where bailiffs are coming round and its a blind panic of finding somewhere to live esp with my newborn- maybe i'm nesting and thats why i'm feeling i need to find somewhere secure now.

Would you feel the same as me, wanting to rent somewhere secure now? Or wait until the court order whenever that will be ?

I would feel the same as you. Is there anyway you can rent privately without your boyfriend and claim housing benefit as a low earner? Frankly, this is his mess and he has to sort it out or suffer the consequences - you need to feel settled.

I would wait for the court order, stick your bump out to the judge and you might even get another 12 months in the house which is better than being in rented where you could have to move house every 6 months in theory.
I know it's hard, but sit tight and keep doing what you are doing, it really might be 12-18 months before it came to bailiffs if at all.

ktjj84 - on no account should you leave the property or hnd back the keys before actual eviction takes place. You will be seen as making yourself voluntarily homelss and will not be eligibe for council accomodation.

Yes do go to the repossession hearing and make your case. As Sorrento says. Stick your bump out and the judge may well put a stay on the repossession.

Many people are repossessed because they do not turn up to the hearing and the judge has no option but to allow it.

Strikes me that your DP should not have been making any payments if his ex was not but that is water under the bridge now.

Could you not come to some sort of agreement with the ex whereby you 'buy' her out of her responsibility for half the house if you pay all the legal fees? Surely that would be the best option in the long run?

I think you need some legal advice. Most lenders will fall over themselves to reach some sort of accommodation with their creditors. They don't like respossessing houses and only do so as a last resort.