Hello Again

copier_guy

Hi everyone,

Im back from working in London, we have left our old house and are now living in a lovely, nicely decorated rental house!!!

So many twitching curtains on saturday when we started moving

Met the Landlady on saturday, she is really nice so hopefully we can go BR in the couple of months.

Does anyone have or know of a standard letter to send to the Chelsea to tell them they can have their house back?

Also just done my first day of jury service!!!

Lensman_2

I was advised by the CAB to write to the mortgage company stating that you are no longer able to make payments, that you have no assets and ask them to consider repossession.
Failing a better example, this is the letter I wrote.

On reflection, it is far too wordy and didn't get the required reaction. But I hope it gives you some inspiration.

The Manager
XXXX Bank
Hedge End
Southampton

XX Sept 2009

Dear Sir/Madam

Re: Mortgage; XXXX, on the property at XXXX

It is with deep regret that I write to inform you that I can no longer make repayments on my mortgage.

You will be aware that my circumstances changed around March 2007, due to the closure of XXXX Ltd in Plymouth and my consequent redundancy. I had to relocate to Southampton in order to carry on my profession as Engineer in Lens manufacturing. I came to you at that time and described my circumstances, which had changed significantly from those I had in Plymouth. Critical among the changes were a drop in salary from about £XX,XXX to £XX,XXX and the necessity to obtain rented accommodation in Southampton while still paying the mortgage for the flat in Plymouth.

I informed you of the change in circumstance during a personal visit to the Hedge End branch in about April last year. Your branch personnel were very helpful in finding a way to restructure my XXXX loan and credit card accounts to reduce my monthly outgoings by about £XXX. Unfortunately this was turned down because I couldn’t afford it. I couldn’t afford the existing outgoings by £XXX more! My faith in the XXX system was consequently destroyed. I have, for this reason, not sought other options from yourself regarding the flat. Remortaging is not an option for me as I have already defaulted on two accounts with you, not that I could afford mortgage repayments on top of my current bills and rent anyway.

However, I placed the flat on the market when I moved in March 2007. During 6 months of marketing and despite a significant reduction in price (to £125,000) I had no offers. I therefore took it off the market in the hope that time would provide a better situation. I had another valuation recently from Mannsbridge & Balment in Plymouth who advised that £110,000 - £115,000 would expedite a quick sale and that £120,000 was a fair price for a longer marketing period. None of which would cover the mortgage and the expense of selling the flat.

During this time I have been making ends meet by selling off my assets. I now have no assets left to sell and I have no savings. I am still a long way short of being able to pay you and the flat management company (by about £700 a month). The flat is uninhabited.

I therefore ask you to consider repossessing the property.

Please note that I wish to correspond with you strictly by letter on this matter.