Desperate! URGENT HELP NEEDED!! PLEASE!!!

jenks282_2

Sorry for the desperate tone, but that is EXACTLY what I am.

Situation:

3 years ago, asked London and Country to arrange mortgage for us. I am in the army and live in married quarters. We wanted to buy a house, and do it up over a few years ready to move in. We specifically stated that we would not live in the house and it would be empty until we moved in.

They found us a mortgage and now the mortgage company have found out that it is empty and have said we have breached the terms of the contract.

Oh yes, and this happened today. I am currently deployed in Afghanistan and my wife is panicking back in UK and I'm pretty much helpless over here. My wife is waiting on a call back from the mortgage company and L and C.

I'm worried we will lose the house!

What do I do?!!?!??

PLEASE PLEASE help if you can. Any advice gratefully received.

Staffysel

I work for a mortgage company so have a bit of experience. They would only kick you out of the house as a very last resort. Have you got anything in writing that says they were aware that the house was empty? Its only usually insurance purposes that they would be worried about it or if you were letting it out without their consent, i cant see what else they would be worried about as long as they are receiving payments!

I would just explain the situation and tell them that as far as you were aware it had all been agreed at the start of the mortgage.

jenks282_2

thanks for the reply. We have all the paperwork from the broker, but I am not there so can't confirm what we have. My wife says she can't see anything, but she is panicking. I am sure the details of our prelim meeting is there but she can't see it.

The house is insured and empty, I haven't missed a payment and we regularly visit house and have family close by who do so also. I can't bear the thought of witing to find out, and want to be forewarned as to what I can do.

McKneff

Would it help if she moved into it now............

surreybased

Hi,

Just think it must be for the same reasons as mentioned earlier - mostly lack of valid insurance..can you insure a property that will remain empty for several months?
Also they may assume that you are renting it out and therefore should have a residental mortgage. Don't panic too much, I doubt they will cancel the mortgage they will just determine what the actual situation is. I suspect the main concern will be seeing how you can protect the secured asset (i.e House) if insurance isn't validly held.

Staffysel

If worst come to worst it would mean someone would have to move into the house, I dont think they can take the house off you for something like that, it would mean repossessing it and thats the last thing they want on their books.
If they are correct in saying its a breach of the conditions being empty, which sounds strange, then as i said someone would have to move into the house.
I recon they think its being rented out, so if you tell them that its regularly checked and no body lives there, they might need it in writing, then they may be happy with that.
See what they say when they call your wife, get some more information from them, they should be pretty helpful if you explain the situation.

Hope it turns out ok

jenks282_2

thanks all for your positive replies, I feel a little better now. My wife is happy to move if we have to. The house is proven empty as we have had to show it is empty to claim a discount on council tax. There ae companies who insure homes that are empty while they are being renovated. I hope it is just that it is a misunderstanding. Will let you know when I find out.Thanks again.

Dan_1976

I think the insurance will only cover the house for 28 days while it is empty, this would be the biggest worry that the lenders security is not insured. I am 99.9% sure you will not lose this house, if you stopped paying it then your in trouble, this is just tick boxing! Dont worry.

Ps. You have my support while your out there, good luck and stay safe!

benjo

So..... for arguments sake..... lets assume living in the property.....then deployed for 3 - 6 months on overseas duty....leaving an empty property - would the lender repossess? I dont think so. This must be a fairly common occurrance around the country, one partner goes away to war and the other moves in with family or closer to friends for the duration of the tour of duty - leaving a temporarily empty house.

I can imagine the outrage if lenders started repossession proceedings citing the occupants abscense from the house for more than 28 days due to - serving queen and country.

Try not to worry, Im sure you wont loose the house - I think the worst that can happen is that they remove your 'deal' and put you on their SVR (although Im not a mortgage advisor - so perhaps Im completely wrong).

Goodluck and keep us informed.

Hopejack

Agree with others here - they just want to ensure their investment is being taken care of!

Landlords insurance covers for vacant periods of time which can be long, so I'm sure there are insurance companies out there. It was a little silly not to ensure that you have the adequate insurance for the place though as I'm presuming you just have bog standard insurance, which if they property has been empty for 3 years, isn't going to cover you.

If you have real problems tell your wife to get in touch with SSAFA who may be able to help/guide her if she is panicking.

Good luck out there - there is nothing worse than having a 'crisis' back home when you are not about.

PS - when my property was let and unoccupied for a time, I used to have to visit (or a family member) and just keep a record of my visits for insurance purposes - possibly something you will have to think about.