house repossessed with warning

davehill722

i had a mortgage with northern rock which was going well until i moved to germany for work reasons i missed a payment and subsequently my direct debit was cancelled and i missed 7-8 more payments it was not until i recieved a letter from a solicitor of N/R that i found out they had got a CCJ on me and repossessed my house.
I currently earn roughly £35000 a year and could easly pay the mortgage and arrears over time but N/R want approx £8-9000 immediatelly before they will hand the property back is there anything i can do now that my Credit rating is destroyed...

mrluke

i take it u relised u missed 7-8 payments ? if u didnt then i assume the cash will be in the account in which the DD was canceld

neas

Must admit its pretty hard to 'miss ' 10 months worth of mortgage payments lol.

beecher

I didn't realise lenders negotiated post repossession. You need to get professional advice about what your options are and not stick your head in the sand as you must've done for the past 9 months or so.

socrates

davehill722 wrote: »

i had a mortgage with northern rock which was going well until i moved to germany for work reasons i missed a payment and subsequently my direct debit was cancelled and i missed 7-8 more payments it was not until i recieved a letter from a solicitor of N/R that i found out they had got a CCJ on me and repossessed my house.
I currently earn roughly £35000 a year and could easly pay the mortgage and arrears over time but N/R want approx £8-9000 immediatelly before they will hand the property back is there anything i can do now that my Credit rating is destroyed...

Was the property rented out ?

Trollfever

Borrow £9k from friends/family?

Rednoseranter

beecher wrote: »

I didn't realise lenders negotiated post repossession. You need to get professional advice about what your options are and not stick your head in the sand as you must've done for the past 9 months or so.

Some will, but the arrears need to be cleared in full + putting the account in credit by about 3 months. They'll then hand the property back.

maninthestreet

davehill722 wrote: »

i had a mortgage with northern rock which was going well until i moved to germany for work reasons i missed a payment and subsequently my direct debit was cancelled and i missed 7-8 more payments it was not until i recieved a letter from a solicitor of N/R that i found out they had got a CCJ on me and repossessed my house.
I currently earn roughly £35000 a year and could easly pay the mortgage and arrears over time but N/R want approx £8-9000 immediatelly before they will hand the property back is there anything i can do now that my Credit rating is destroyed...

How did you miss payment in the first instance, and how/why did the direct debit get cancelled?