How long before we are repossessed?

MrsST

On the advice of an insolvency expert, we have stopped paying our mortgage (NR) and a secured loan (First Plus) in preparation for going BR.

We have sorted out 6 months rent in advance now and will be moving soonish, but I'm wondering how long it's likely to be before either NR or FP get us evicted.

Basically, my DH is only working sporadically at the moment so he hasn't signed on yet, but obviously we are struggling to put any more money aside to pay the BR fees.

The house we are moving into needs some work doing to it and once it is empty (around 6-8 weeks time) we need a little bit of time to get the work done before it would be worth moving in. In an ideal world, there will be a reasonable amount of time between the house we are going into being vacated and us having to leave our current house.

Does anyone know how long the process does/can take before we have to hand our keys over?

TIA

skylight

It would take a few months I would have thought. There are statutory notice periods they have to give you, then even if a court date was actioned you would have 28 days notice included in that anyway.

There are threads about where people have had 12 months before a final eviction date etc, so I would not worry about it too much, (but bear in mind with the current financial climate then 12mths is now hoping a bit )- Although the letters/calls/threats you will receive would leave you to believe otherwise.

southernscouser

MrsST wrote: »

The house we are moving into needs some work doing to it and once it is empty (around 6-8 weeks time) we need a little bit of time to get the work done before it would be worth moving in.

But aren't you renting?

You do realise that you could potentially do all this work then 6 months later when your lease expires, not have it extended by the landlord. So you've paid and grafted to make it look nice only for the owner to then rent it out at maybe a higher price? :undecided

MrsST

southernscouser wrote: »

But aren't you renting?

You do realise that you could potentially do all this work then 6 months later when your lease expires, not have it extended by the landlord. So you've paid and grafted to make it look nice only for the owner to then rent it out at maybe a higher price? :undecided

I should have said, we are renting a relatives house (formal agreement and all that) and the money we have put together for the advance rent is paying for this person to rent somewhere else.

debt_doctor

Hi,

If there is no court action yet then you can guarentee yourself 3 months before eviction and as skylight says, possibly much longer. In my own case there was about 9 months between 1st court action and eviction notice, by which time I was long gone.

DD

MrsST

Excellent news, thank you all

The house we are moving into hasn't had any work done for around 20 years and we are really hoping to get the kitchen refitted before we have to move in. Trying to refit a kitchen around 2 year old twins could be a major headache

This is my perfect project too...........someone else is buying all the materials, DH is doing all the work and I get to play interior designer. Bliss!!

southernscouser

MrsST wrote: »

I should have said, we are renting a relatives house (formal agreement and all that) and the money we have put together for the advance rent is paying for this person to rent somewhere else.

I'll shut up then!

MrsST

We haven't moved but plan to start paying rent straight away even if we haven't moved in. It's all become quite complicated but as we aren't having to cover the mortgage and secured loan here, we have the funds available to cover the rent.

The relative is moving into a rented place to allow us to have their home (avoids us being credit checked.....we won't pass (!) and any risk of our tenancy being terminated when we go BR). We are covering the cost of the other home rental though so the rent has to be paid from now.