Can this be right????

kerrypn

My OH has just had his OR interview.

The examiner told him we no longer need to deal with the sale of the house as I gave up my half in BR and now so has he????Basically told him to not worry about the house anymore-"its gone" and not the bills either????

Is this right?????

MicheH

I think it's difficult to hear those words but I feel that's true.

In our case we had to accept that our house was a gonner. Yes we had 12 months grace but it was never a secure base. We moved out as soon as poss. With the house, it would either be vol rep or be repossessed by lenders. Either way, not for you to deal with really (struggles come only if you want to push for vol rep and won't sign deed of acknowledgement.)

If your sale doesn't go through, so what. If you manage to get vol rep. So what. If it's repossessed by lenders, so what. It's gone. It's not for you to wrry about. Thats what i meant weeks ago when I said it would get better. you go from being a home'owner' to having all rights the house and responsibility taken away in the BR (if it has equity, or rather speaking as it was in my case)

The bills regarding house though. Exemption for council tax or when it runs out will still be your responsibility till it's repossessed and buildings insurance should also be kept up incase something happens to this 'asset'

Breathe Kerry, you're on the other end.. and if the OR examiner said it matter of factly well, take it matter of factly, it's true.

sizzler

hI KERRYPIN, SORRY TO HEAR THAT.

NOT SURE OF HOW YOU STAND.

rEGARDS SIZZLER:grouphug::wall:

kerrypn

Thanks Mich-but he actually said that they will deal with the sale/repo from here on in and we are no longer for liable for the bills?????and dont contact the estate agents, solicitors or Northern Shock?

Im glad house has gone. Too many bad memories....but not sure if DH has been told the right thing...

I am much calmer after DHs interview...although he has to phone IR to get an estimated tax bill....:eek:

MicheH

Oh I see. That's wrong, The OR or RTLU (as far as I understand it) is only interested when it's sold etc. They won't deal with the repo or northern rock or a sale for that matter. Simply there to deal out any monies to the creditors.

My OR examiner told me to contact NR for the vol rep. When I called her about how difficult they were being she said don't sign anything but as far as further advice goes I'd have to seek financial/legal representatives.

Sorry Kerry, I misunderstood. No, you don't need to worry about how the house goes but you're still the middle man for correspondance etc. Bills? Any bills on the house outstanding would fall into BR but Is he talking about the solicitors fees?

kerrypn

I have absolutely no idea-I have been for a scan today as they were querying whether to c section me early due to a complication-when I got back, DH said that thats what they OR/examiner had said?????

So confused now Thanks for your support though Mich-I thought exactly the same as you, but now I dont know what to do????

nervousmother

As far as I am aware the OR only deals with none secured debts, the house and mortgage is secured so they have nothing to do with it until it becomes 'unsecured'

You would be liable for council tax on the property, normally get 6 months free then pay between 50-90% after 6 months, however if you had a full liability order before BR it would be included in the BR, a new bill will be due again in april however.. This is not a good thing for someone who has gone BR however they can include the extra council tax on any SOA offsetting against any IPA.

I am unsure on buildings insurance though, you owe X amount for the property and they sell it for W after a repo, the difference between W and X is covered in your BR as the debt was taken out before BR, however if you did not have buildings insurance and the place burn down, then it only sells for B as its almost worthless the debt was still taken on before BR so will still be covered. The problems could occur if the bank refused to repossess it due to it being burnt down, you would then have a property on your hands for years to come and having to pay council tax and any other assosiated costs maybe even demands by the council if it is left in such a bad state.

Make sure all gas/electric/water is turned off at the mains, water companies still apply charges unless you get them to turn off the water.

I think what your OR was talking about is the stress for selling the property, and extra costs including the solicitors bills that you are now left with as the house did not sell.. anything done after your BR you are liable for..

kerrypn

So should I contact Northern Rock re DHs BR then-they were blocking until he did this(allegedly)

MicheH

If you can be bothered with it today kerry. Won't hurt to keep them updated but I don't know just how much the advisors listen or understand what you are telling them. Wouldn't hurt keeping them in the picture, might speed things up or unblock certain idiotic ideas they have. Have to tolerate them for a little bit longer, c-rap int it!

I had a section kerry, I would have another one too, really nothing to be scared of if you need to have one. Hope everything is ok.

nervousmother

I would suggest you post them the keys and say there you go...

nervousmother

is the buyer still interested in the property? If so it would not hurt to phone NR tell them you are both now BR so any shortfall wont be paid, they may allow the sale to go ahead, of course if it does your solicitor would get paid before releasing the money to the NR...