What's going on with my house?

smulx

Got made BR at the start of the month, but this was also the first payment I've missed. My bank account has been suspended so I'm assuming the mortgage company know the situation too, but they've made no contact at all. Do they have to give me a certain amount of notice before the take the house back? And when they do, are they legally entitled to anything that's contained inside it?

Thanks.

peachyprice

They won't do anything until you've missed at least 3 mortgage payments, even then it may take a very long time before they repossess. Just going BR will have no effect on what happens to the house as the mortgage isn't included in your BR until the house is officially repossessed.

smulx

Ahh, cool. If they repossess it after I'm discharged, will that cause any issues for me at all? And do they have to inform me when they're going to repossess it and stuff? so they wont just turn up one day..

serenity34_2

smulx wrote: »

Ahh, cool. If they repossess it after I'm discharged, will that cause any issues for me at all? And do they have to inform me when they're going to repossess it and stuff? so they wont just turn up one day..

They have to follow a set process to repossess including a warning letter before they even issue a claim for repo via county court. There will always be a hearing which you usually get 28 days notice minimum for. Then, even when outright repo is granted you get 28 days before the actual eviction notice is served.

You are much better off looking to leave on your own terms though and take your stuff with you!

Are you already looking at alternative accommodation?

smulx

I already have somewhere else, I'm kinda living between both houses. Losing my house isn't a problem at all, it was my main reason for the BR because I need to get rid of it. If it's going to take them a long time to repossess it though, wanted to make sure it wasn't going to cause problems with the debt being included within the BR.

Thanks for the help!

peachyprice

No matter how long thre repo takes it will be included in your BR, even if it doesn't happen until after discharge. You will never be liable for the shortfall and will have plenty of notice to remove your belongings, we're talking months and months here for the whole thing to go through.

fiveyearplan

You will still be liable for the council tax unless you contact the council and tell them you are not living in the property. You need to ask for a 6 month 100% discount or you will be liable to pay the whole amount and as you are already bankrupt you cannot include it in your BR. Contact them today!

smulx

That's all good to hear, thanks! Council tax isn't a problem either, I just got a new statement including the council tax benefit that I didn't even apply for, and they owe me £16 for the year haha.

Thanks.