Bankruptcy Nightmare - Abroad

alastairq

So if i tell them that the interests are the house that i still pay for is the interest they will tell me if i can go BR int he uk?

not what I said....the question is, if your COMI is not within the UK, but within an EU country [as you say] then you can petition BR in that country...providing the trustee is 'acceptable' to the IS service.

This you have to find out.

If the trustee from you present country [COMI] is OK, then they will deal with your assets within the UK.....

However, I would be inclined to continue as you are currently doing....simply use the rent to pay the mortgage, as there appears to be little the mortgage company can do about it.....as DI pointed out?


The only issue may arise after the mortgagor as decided to apply for re-possession....[if should chose to do so]........where, if there is a sitting tenant in the property, the mortgagor then has to assume responsibility as a landlord.

But this would be an issue twixt them and the tenant.

Remember, petitioning for BR...whether here or where you are at present, also has some serous downsides to you personally..........simply maintaining the status quo in the hope things improve may be a better option? [your tenants may thinks so too?}

SeniorUnit1

the court order does state

1, the defendant is deemed served with these proceedings..

2, the defendant shall forwith transer to the claiment all and any interest she has in the property (house stated) subject to the outstanding mortgage in favour of GEmoeny.

3 a district judge from this court shall in place of the dfendant execute all such documents for and on behalf of the defendant to give effect to paragraph 2 above.

SeniorUnit1

leveller2911 wrote: »

I'm more worried about your tenants .Do you have the Gas safety certificate? etc to show tht the property is safe to let to tenants?.It sounds like you have rented the house out without permission from the Bank....If it gets reposessed its the tenants I feels sorry for.

Don't believe what the letting agents say ,its down to you to find oud what the Rules/regulations are for letting the house.

yes insurnace and gas safety certs

SeniorUnit1

the tennants have only got 3 months left on contract

alastairq

SeniorUnit1 wrote: »

the court order does state

1, the defendant is deemed served with these proceedings..

2, the defendant shall forwith transer to the claiment all and any interest she has in the property (house stated) subject to the outstanding mortgage in favour of GEmoeny.

3 a district judge from this court shall in place of the dfendant execute all such documents for and on behalf of the defendant to give effect to paragraph 2 above.

It appears to me you have a Court ruling regarding your Ex's interest in the property...ie it is now all yours.


The Mortgage is actually entirely separate.

And I suspect the mortgagor is entirely within their rights to refuse to commence what is effectively a new mortgage, in your name only...due to your level of income?


As has been said.... Simply notify your tenants, sell the house, whereby the mortgage will be re-paid..[you can do this, as your Ex has had her interest revoked by the court]...if there is negative equity, either pay this.....or seek to petition BR where you currently live...if acceptable as above.....and the bR will be binding within England and Wales as well.

SeniorUnit1

Thank you everyone for your help. I will update tomorow.

Thanks

SeniorUnit1

OK so I have called the IS department and they said as discussed above because I live in the EU my COMI is in the country where I work and conduct my day to day business. Also the 3 months rule does not come in to the quesiton as I have moved and started to work here in the EU.

I will rent untill I can sell and inform the tennants.

Again, thanks for everyones help. Much appreciated.

SeniorUnit1

Just to bring this back up again, Ive got the house onthe market now.
I know I Can sell but will be in about 12k negative equity. i was offer 110k before I received my court order. I called the guy today but he baight 3 weeks ago. =(

Can I still sell?. I mean surely I do not need the morgage companys blessing as the courts have revoked all my exs rights to me? and the judge will sign all documnets on her behalf as the court order said.

Anyone?

silvercar

You can sell but you need to clear the mortgage.

If you can't clear the mortgage you need to get the lender's agreement to allow you to not pay off the mortgage completely and for them to remove the charge on the property.

Given the circumstances with your ex, they may allow the sale on the basis of a court signature, but it is their choice if they are prepared to remove the charge on the property without you paying them back in full.