How to go down the voluntary repossession route.

MicheH

Morning, OR interview this morning at 10am.. jeepers, I feel all queezy.

We have been br for 3 weeks, we have not paid our mortgage for August and have no intention of paying September (waiting on NR to start the barrage of calls!)

We have found a new rental and are getting the keys on Saturday so we do not want or need our mortgaged house.

I'd rather 'hand them the keys' but don't know if I can do this. I guess I'll talk to OR this morning about it but if I can how do I get the ball rolling on it.

Is this what Northern Rock would want anyway or would they make my life misery to go through the repossession channels?

How would I go about starting the ball rolling for vol. repo?

peachyprice

You can had the keys back but NR will want you to sign a Deed of Acknowledgement. Signing this after your BR date would mean that your shortfall wouldn't be included in your BR, so do not sign it. This will mean that they will not accept your voluntary surrender and will draw out the repossession, they may also lie to you and tell you you have to sign the form etc.,

iquit

Good luck with OR interview. I second FYP - do not sign anything. When I 'gave up' my house I simply told the bank, didn't even give them the keys 'coz apparently they change locks anyway.

MicheH

Thanks for the heads up on that. So would the best course of action just be to let them repo the house themselves. If they're going to dilly dally just because I won't sign THAT form then maybe I should just let them go through the channels they want to because I havn't paid the mortgage?

MicheH

Also do they need to know my new address, i'm reluctant to tell them.

peppa-pig

we sent our keys back but our mortgage co (Platform) still took us to court to do the repossession.

peachyprice

MicheH wrote: »

Thanks for the heads up on that. So would the best course of action just be to let them repo the house themselves. If they're going to dilly dally just because I won't sign THAT form then maybe I should just let them go through the channels they want to because I havn't paid the mortgage?

You may as well just let them get on with it, save yourself the stress.
Just walk away from the house and let things take their course rather than getting in a wrangle with NR.

You do not have to tell them your new address but the OR will. :rolleyes:

Remember to tell the council tax as soon as you move out so you get your 6 months exemption.

MicheH

Yeah, thanks P, I'll be onto the council about the exemption. If the house is repossessed, sorry WHEN - still living in wishful thinking land! will we have to pay court fees?

peachyprice

No, it won't cost you a penny, although NR will tell you it will :rolleyes:, all costs and fees will be rolled into the final figure that NR gives to the OR.