Voluntary Repossession

podperson

Hi,

Apologises if this is in the wrong section. Has anyone had any experience of this they could share with me? Is looking like I will have to go down this route, have been trying to sell my old property for over 6 months now but have had no decent offers at all. It does need some work doing on it but I don't have the money to pay for this at the moment. I'm not able to afford the mortgage payments on it, am making partial payments at the moment but the company refuses to accept them offically or to let me go on interest free for the short term and am getting more and more into arrears with them. Am also having to pay the council tax on it which I'm also struggling to afford.
I'm wondering if anyone could give me some advice on a few points since the mortgage company has been extremely unhelpful so far. I am aware that I am going to be stuck with a shortfall on it as it is in negative equity at the moment, will I also be liable for any solictors fees etc that the mortgage company pays while selling it? I've been mainly trying quick-sell companies myself since I can't afford the fees direct, I would assume that if I can find companies that don't charge fees then surely they should be able to as well? Also are they obliged to try and find the best price for it or just take the first and lowest offer they get?
Also I'm sure I read that it might be possible to claim mortgage charges back? Is this a similar process to reclaiming credit card charges as obviously if I could get a bit off what is going to be the remaining balance it would be good.

maninthestreet

You can't claim mortgage charges back - you agreed to pay them when you signed up for the mortgage.

SouthCoast

Facing the prospect of repossession can be frightening, but it’s important to remember that you are not alone. There is a lot of help available from government, from lenders and from advice agencies. The information here will give you the tools you need to prevent your home being repossessed. You'll also find stories from some of the 330,000 homeowners who have already received help and advice.

http://mortgagehelp.direct.gov.uk/default.aspx