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Handing The Keys Back???
sparesomechange
Posts: 48 Forumite
Hello guys and gals, Having now settled into rented accomadation and awaiting my BR date of the 6th febuary, When do i hand the keys to the house back?
I want to enter into volo repo however do i call the mortgage company now or wait till after i am declared bankrupt on the 6th febuary?
After all we are now out of the old house so there free to it, so to speak.
Its Northern rock by the way.
Thanks guys.
I want to enter into volo repo however do i call the mortgage company now or wait till after i am declared bankrupt on the 6th febuary?
After all we are now out of the old house so there free to it, so to speak.
Its Northern rock by the way.
Thanks guys.
0
Comments
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You can hand the keys back when you like but DON'T sign anything. They will try and get you to sign to say you are responsible for any shortfall. You can let the OR deal with it.
:j :j
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Yes, hand the keys back whenever you like, but don't expect NR to rush the repo, they usually take ages.
You will have to deal with it your self the OR will not get involved in it at all until the house has been repossessed and the shortfall is added to your BR.
Also, don't forget to the the council tax that you have moved out, you get 6 months exempt while the house is empty, but if NR have repossessed by the end of the 6 months you will be liable for council tax after that.Accept your past without regret, handle your present with confidence and face your future without fear0 -
Northern Rock have got a lot to answer for, they snatched ours too, even though I offered to sell it myself if they delayed repossession proceedings. I would have probably got a lot more than they sold it for. There's now a shortfall, I refuse to pay it - hence BR. If you are going to hand keys in make sure you keep your buildings insurance in case the worse should happen while you are responsible. Also inform the council tax, the house is vacated and I assume unfurnished. You are now entitled to a reduction on CTax. Also inform them when Northern Rock possess the property officially as it is then their job to pay council tax. They may add it to your shortfall but if you're going BR anyway, it will all be added.
Dubiousone.0 -
It will all be added to your bankruptcy even if you go BR before it is repossessed so don't think you have to wait.
:j :j
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Thanks everyone. I think i will get the ball rolling and call them this week there is no point putting it off! Thanks again.0
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