about to lose house can anyone advise!!!!

ceri

I'm seriously considering selling my house to pay off my debts and mortgage and start again. The house sale will cover my debts with no extra money left to me - but that's fine. I'm currently having trouble paying my mortgage payments (well I wouldn't if Northern Rock move the payment date to the 25th but they insist it has to be the 1st). I'm at the wrong end of a £3000 overdraft and am seriously spiralling out of control.

I've been on the council waiting list for about 2 years now so a council house is imminent.

My question is when I finally get a house from the council - do I still have to pay my mortgage payments if I don't live there and if I tell them the house is to be sold and all the money owed will be given to them?

By the way - don't touch Northern Rock!!! they're a waste of space.

They said they could help but they will charge me £800????????:mad:

dunstonh

do I still have to pay my mortgage payments if I don't live there

Yes you do.

and if I tell them the house is to be sold and all the money owed will be given to them?

You may be able to negotiate a few months but it depends on your record with them and the amount of equity. There may be excess charges as well on top. It really depends on how they view you.

By the way - don't touch Northern Rock!!! they're a waste of space.

They said they could help but they will charge me £800????????:mad:

They are not a charity. They are a business. If you want to break your contract with them (a mortgage is a contract) then you should expect to pay a penalty for doing so. You shouldnt expect any other lender to act any different.

Cazza

Hi! Northern Rock will let you change your mortgage payment date, I have done this for clients a number of clients! If you pay your mortgage by direct debit, they will only collect peyments on the 1st of the month. The way round it is to make your payments by standing order instead. They will charge you a fee of £25 for this - I'm not certain if they charge this fee agan every 12 months, but if the ONLY thing you're ding is switching to standing order and changing the date, then it should just be £25. HTH!

Cazza

Hi! Northern Rock will let you change your mortgage payment date, I have done this for a number of clients! If you pay your mortgage by direct debit, they will only collect peyments on the 1st of the month. The way round it is to make your payments by standing order instead. They will charge you a fee of £25 for this - I'm not certain if they charge this fee agan every 12 months, but if the ONLY thing you're ding is switching to standing order and changing the date, then it should just be £25. HTH!

lynzpower

Hi there
sorry you are in such financial difficulty.

Why not head over to get some help with it from the debt free wannabee board. Hopefully it shouldnt come to you selling.

jacquij123

ceri wrote:

I've been on the council waiting list for about 2 years now so a council house is imminent.

Hi
I thought that if you owned a house you couldn't get on the waiting list. it certainly doesn't seem right that you can sell it and then move straight into council.
Also are you sure it's imminent, I've been on the list for eight years and we seem to moving further away from the top, you must be in a lucky area.

silvercar

I've been on the council waiting list for about 2 years now so a council house is imminent.

Be very careful about giving up your home because you think you're near the top of the waiting list. Make sure you have a firm offer of a council house first. Check what happens if your circumstances change. Selling your home may count as making yourself deliberately homeless and may not be seen in a positive light by the council.

mophead

jacquij123 wrote:

Hi
I thought that if you owned a house you couldn't get on the waiting list. it certainly doesn't seem right that you can sell it and then move straight into council.
Also are you sure it's imminent, I've been on the list for eight years and we seem to moving further away from the top, you must be in a lucky area.

Just what i was thinking. Does'nt sound right to me. Average time for a council house round here is 9 years.

roswell

Im sorry but i dont see how the date they take the money makes any difference to your financial situation, Secondly dont assume by being on a list for 2 years that a council house is imminent ... infact your most likely still bottom of the list, the quickest but worst way to get to the top of the list is not to pay your mortgage, but it could be viewed that you made yourself homeless and they would not HAVE to house you.

regularsaver1

If your money goes in on the 25th - is it a problem for the payment to then come out a few days later on the 1st?

Poppycat

You can go on a waiting list if your own your own home, but the council may not give you a house if they feel that you have made yourself homeless or dont have a very good reason to move, ie medical etc.

I been on a list for 16 months and despite two of us having a medical condition/disability and living in the area all our lives we have been told we stand no chance even though we acrued 60% of the points in a very short space of time.

jacquij123 wrote:

Hi
I thought that if you owned a house you couldn't get on the waiting list. it certainly doesn't seem right that you can sell it and then move straight into council.
Also are you sure it's imminent, I've been on the list for eight years and we seem to moving further away from the top, you must be in a lucky area.