Govt Mortgage to Rent Scheme/Will it save my house?

Angiepange

I don't know why I am shaking while posting this news, must be a mixture of nerves, excitement, relief, regret...you name it!!!!

After a flurry of emails today between the solicitor and me, we are completing on Monday :eek::j:T.

Ok Im not going to run around the room shrieking with joy until Monday comes and I am told completion has actually taken place (sorely remembering 2 months ago when I thought the end had come )

BUT all the monies are in place (including our 4 weeks rent up front) so its just the solicitors bit to do and that will be us rescued at long last .

Angie x

IF

Hi Angie, I won't post any gifs as I don't want to Jinx it but........You've made my day!! So excited for you all x

Much love
If...x

dryliner1

hi angie.the journey is nearly over so just want to say thanks for your help and advice over the last many months and look forward to having a drink in a few weeks.at least now it looks like its definately going through speak soon

Angiepange wrote: »

I don't know why I am shaking while posting this news, must be a mixture of nerves, excitement, relief, regret...you name it!!!!

After a flurry of emails today between the solicitor and me, we are completing on Monday :eek::j:T.

Ok Im not going to run around the room shrieking with joy until Monday comes and I am told completion has actually taken place (sorely remembering 2 months ago when I thought the end had come )

BUT all the monies are in place (including our 4 weeks rent up front) so its just the solicitors bit to do and that will be us rescued at long last .

Angie x

confused76

oh Angie, i have everything crossed for Monday x

sillygirl73

Woohoo Angie...........such good news!! Fingers crossed for monday xxx

ani_26

I fogot to say, congratulations Angie xx

philnicandamy

superb news angie...we'll cross everything for you all xx

Angiepange

Thanks everyone for the kind words and support. Just waiting for Monday now to see if completion really does happen, got everything crossed too

dryliner1 wrote: »

hi angie.the journey is nearly over so just want to say thanks for your help and advice over the last many months and look forward to having a drink in a few weeks.at least now it looks like its definately going through speak soon

Hi dryliner

Its unreal isnt it!!!!

How many times have we wondered when this day would eventually arrive!!!!!!!

There's no need for thanks, having you on the end of the phone has been an absolute blessing and thank you for all your help and advice too.

As for the upcoming drinks, I think it will be large ones all round :beer:

Angie x

lorsy

aw at last......roll on Monday......everything is crossed for you...and i will have a dram with you and everyone else on here, when we all will raise our glasses any say " WOO HOO CONGRATULATIONS AND WELL DONE....AND TUESDAY WILL BE THE VERY FIRST DAY OF YOUR NEW STRESS FREE LIFE" love and hugs babes love and hugs xxxxx

Angiepange

Just had a phonecall from my solicitor asking if we had any objections to completion going ahead today :j

After the past 13 months of trying to get to this day, it was quite funny to be asked that but I assured her that we are 100% ready for completion to go ahead :T

So, thats the end of my journey really with the Mortgage Rescue Scheme. We are now officially tenants of a housing association, renting a house we once fell in love with and bought as a home for the kids to grow up in. The only reason we sold our first home to buy this place was because it was a 2 bed house and as we have a son and daughter we needed the extra bedroom. But I remember the day well, so excited to have all the space and new surroundings. That was over 8 years ago now.

So I am sitting here with very mixed emotions, sad our lives took a turn for the worse that they did, but overjoyed we still have a roof over our head and security for our children for the next 3 years at least, thanks to the Mortgage Rescue Scheme.

For anyone looking in, as I know my thread is very long to read, I thought I would explain why I am here today.

Going back 2 years, we were just an average family, both of us working full time, 2 teenagers to raise (not forgetting the dog:p). We had debts which had accrued over the years, like many people do, due to many reasons..... job changes, emergencies, re-training, financing cars, falling back on the credit cards when the kids were little and only one of us was working, stuck in high interest rate agreements where the debts just got bigger no matter how much we paid off them, credit thrown at us day in day out........... many many reasons. But, we could always meet all our payments, no matter what. Although looking back now alarm bells should have started ringing, we should have sought proper debt advice, looked at ways of managing our income better, not just gone down the road of consolidation and constantly moving debt from one provider to another, always looking for cheaper interest rates/better deals.

Then I can remember the day my husband rang me from work. October 2008. They are making redundancies here, its not looking good There followed 2 months of consultations. 2 weeks before Xmas, while he was on the road working, they phoned him to say he was one of 15 people they were making redundant. Our world came crashing down.

The next 4 months passed in a blur. I tried to keep going, tried to keep it all together, my job was stressful to say the least and the pressure and worry over money and paying everything just built up and up. Luckily my husband only had 1 month of unemployment (the only time in his whole life he has never worked) but he was treated dismally by the jobcentre, like he was a nobody, something on the bottom of someones shoe. I hate them for that.

He took the first job that came along, much less money, more travelling, horrendous shifts and then spent 3 months of hell, starting work at 2am and getting home at 7pm if he was lucky, to catch 4 hours sleep before it all started again. He lost over 2 stone in weight and his health really suffered. Meanwhile, I was coping less and less well in my job. I should have approached my Doctor, maybe had sone time off to sort myself out, but sick time was always so frowned upon and my boss wasn't the easiest person to work with. Under pressure to increase our income, I handed my notice in to start something else and that week I basically broke down. I didn't leave the house for weeks and if it wasn't for my husband caring for me and the kids like he did, I dread to think what would have happened.

Shortly after this a neighbour (also ex forces) had heard of a job going in the local Council and thought of my husband. What a godsend. They knew he was a good worker, respected his army background and basically recommended him for an interview. He got the job, passed all the training, fantastic. The only downside salary (nearly half what he used to earn).

So with the loss of my income and a much lesser wage for my DH, we were in dire straits. Then followed 4 months of seeking professional advice, looking at all our options, we needed help, didnt know who to turn to. Then came the blow, Bankruptcy is your best solution we were told. In August 2009 we petitioned our BR. We really were at rock bottom.

We knew we couldnt maintain the mortage much longer, the income just wasn't there any more. The bank would only give us 3 months respite, and then wanted any arrears paid back on top of the normal payment. Thats all they would do to help. I began to search for an answer. Do we move out now? Do we wait until we are repossessed? I was desperate. Thats when I saw details about the Mortgage Rescue Scheme. The rest as they say is history, all detailed in my diary here! And what a journey its been. 13 months of ups and downs and then more downs!!!!! But I have kept going despite all the setbacks and with fantastic support from people on MSE.

We are now tenants, our house has been sold to the Housing Association. They paid 97% of its market value to the mortgage company who also received a payment from the Council Repossession Prevention Fund towards the shortfall. The mortgage co accepted this as full and final settlement. We have been given a 3 Year Assured Shorthold Tenancy and our rent has been set at 80% open market value. The next step now is building works to be carried out that the HA have planned for the house, so I am waiting for contractors to get in touch.

Apologies for my long post, sometimes when you start it just all spills out , but again, thanks for all the help and advice.

Thanks everyone :T:T:A:A