Confused

diddly74

I wonder if anyone can clear this up in my head for me.

How can I put £852pm on my SOA for a mortgage that I currently have, but don't intend to pay as we intend to have the house voluntarily repossessed (if HSBC don't do it forceably first - all depends on whether we can find a house and the stipulations we have to jump thru hoops for to get the LA to accept us.)

The money will be saved month by month to stand for a deposit and rent etc (or 6 months rent if needed - we have no one who will stand guarrentor).

Surely we will get into trouble for doing this? Seems fraudulent somehow to say we have this expense but we are actually saving it to get a different house so we can give this "black hole for money" back to the mortgage lender.

We are not in arrears yet! Mortgage is due on Thursday, account from which is is usually paid is closed and direct debits all canceled, but I just can't get my head round not paying my mortgage and saving the money - I feel guilty already and not done anything wrong yet. My husband and I (both BR since 15/03) do not want to stay in this house and it is in negative equity (we think).

Should I get the house valued by local EAs?

miss_spooky

Hi diddly74,

You have almost answered your own question. They money you will be saving for not paying your mortgage is what you will have to use for deposit, moving costs etc.

Lots of people have to do this and it shouldn't be frowned upon by the official receiver.

Someone who's actually been through this will be able to advise you better.


Are you looking at staying in your house until you have the funds to move out? Have you already spoken to you LA re housing? Once you've done that, you should have a better idea of timescales.

Good luck

mummytotwo_3

HI there, we spoke to our la re rehousing as before we went br we were sure we didnt want to keep the house and because you have to give them your income and expenditure, if its affordable you wont be helped even if br and if you are percived to make yourself homeless ie by doing voluntary repo again they wont help you.

Anyway since then we have decided to keep our house and have just had it valued in neg equity yay, so going to be sorting out bi over the next month or so we hope!

With regards to stopping the mortgage i dont the or will mind, lots do it.

diddly74

Thanks guys, it was what I had seen on here, but it just seemed so "naughty" and as I have already said I felt guilty just thinking of not paying my mortgage

D