Voluntary Repossession

GettingHopeful

Sorry to be absent from the board for so long.

I have been "withdrawn" again following the repossession of my much loved previous home, my lovely flat, and although that was what I wanted as it was proving a bind to me, now I have moved, I have been very sad about it all.

Anyway, for anyone who is going the voluntary repossession route, please let me know if you want further info' I have posted quite a bit. The end result was that I sent a letter to the building society and they repossessed within a week. There were no problems with that.

The property is now up for sale.

I am still waiting to hear from the council who wanted to charge me full council tax for 2 months - having given me 6 months free unoccupancy. Also from the electricity company who have not apportioned pre and post bankruptcy on the latest reading, and I have written to both reminding them.

Anyway the property is gone as far as I am concerned though i still get mortgage statements.

kezza90

Hi, are you still liable for the council tax when the house has been repossessed? I am due to have my house reposessed and havent paid c/tax since i moved out in May this year, when I rang to query this they said I didnt need to pay (not sure if this is because they are chasing my ex for the money tho). Do you know if you can include the c/tax in our BR?
Many thanks

GettingHopeful

Hi Kezza,

My understanding is that once the property is repossessed then you are no longer responsible for the council tax. You do in any event have 6 months free whilst the property is unoccupied so there wouldn't be any to pay anyway.

My letters from my council have said that they will charge me from the end of the 6 months unoccupancy period until the date of transfer to the Building Society. I understand that the BS do in fact get a further period of nil charge.

Yes, I am fairly sure you can include council tax in the BR if you have received a bill for it, and it applies pre BR (which mine didn't) - maybe someone else could confirm?

All the bestxxxx

angel182

please can you help me with what voluntary repo is? i am going bankrupt in feb hopefully, my house is in neg equity but no arrears my hubby has left me and all the debts etc. i am signing a tenancy monday for a house and i want to get rid of my house and the mortgage

cant pay both please help

Lensman_2

angel182 wrote: »

please can you help me with what voluntary repo is? i am going bankrupt in feb hopefully, my house is in neg equity but no arrears my hubby has left me and all the debts etc. i am signing a tenancy monday for a house and i want to get rid of my house and the mortgage

cant pay both please help

Once you have signed the tenancy, I reccommend that you pay no more mortgage.

You are right, you cannot afford both - and trying to will get you in deep with all your finances. Don't waste the effort.

I am in a very similar sitation. It has taken 5 months of non payment to be passed on to solicitors.

If you haven't already - you must get some professional advice. I went to CAB and got very good advice.

I am now waiting to see how big the shortfall is. £10k (unlikely) and I will offer an informal agreement. £30k (much more likely) and I will be going BR.

In the meantime, do not sign any forms from the Mortgage Co to speed the repossession up. They usually contain a clause that makes you liable for all costs incurred in repossession and can make dealing with the OR complicated.

sxj

Hi Gettinghopeful
Sorry to hear about your flat situation. I'm also on that route in that i having to give my home up! Must say it's a difficult thing to do.... But my sensible head says you can't afford it so it's for the best!
Anyway i was hoping to take you up on your kind offer
I was wondering if you could send me or make some suggestions re the vol repo letter sent to your mortgage provider... I have seen examples on the forum in the past but thought i might not need them... (i wish)

Thanks in advance for any help..
Steve

Lensman_2

sxj wrote: »

Hi Gettinghopeful
Sorry to hear about your flat situation. I'm also on that route in that i having to give my home up! Must say it's a difficult thing to do.... But my sensible head says you can't afford it so it's for the best!
Anyway i was hoping to take you up on your kind offer
I was wondering if you could send me or make some suggestions re the vol repo letter sent to your mortgage provider... I have seen examples on the forum in the past but thought i might not need them... (i wish)

Thanks in advance for any help..
Steve

Scarlett.1974 did a letter here:
http://forums.moneysavingexpert.com/showthread.html?t=715213