voluntary repossessions

rjh090384

hi
wondering if you guys can help - i have tried google but no success

me and husband split up two years ago and house has been on the market for three years now with no bites and is now at the minimum price it can be to cover mortgage.

i have since moved countries (house is in northern ireland) and he has been renting the house out. he is saying he cant afford it anymore and i am a fully time student so he is paying for it all.

can anyone tell me if we hand keys back to bank will this affect credit rating? can anyone advise of any other options we may have?

thanks in advance

Thrugelmir

Voluntary repossession merely saves the court fees. In all other regards the liability for both the mortgage and interest until the property is sold remains.

Northern Ireland is still part of the United Kingdom and within the EU so makes little difference.

rjh090384

just sometimes ni has different regulations which is why i mentioned it. so credit ratiing is still affected the same?

Thrugelmir

rjh090384 wrote: »

just sometimes ni has different regulations which is why i mentioned it.

Now we have the EU. Fairly easy to chase debt across National borders. Plenty of agencies that specialise in this type of collection.

A debt is a debt wherever you are.