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Order for possession

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Hello All

Sorry not sure if this is the right place to ask. My house was repossessed in January and I just wanted a bit of advice about the court order.

It says:

And it is adjudged that the claimant recover against the defendant the sum of £71,250.52 for the debt and interest to the date of the judgement.

So if I owe more than that, can they charge me more than what the judgement says?.

Just wondering as my house has been placed on the market for around that value which is far lower than others in the area.

Wisdom comes from experience. Experience is often a result of lack of wisdom.

Comments

  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    Repossessions are always priced lower than normal sales.

    They can only claim the total amount listed in the claim less the costs of the sale.

    They may be able to add interest but generally interest is frozen and that is all they can claim.
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Many thanks for that, I know they price lower but it just seems odd it is precisely just above the order.

    Sorry to be a pain asking more questions but as it says debt and interest to the date of the judgement does that mean they can't charge me interest or additional costs after that date.

    It probably seems to be odd questions but I have other outstanding debts on the house so I want to make sure my figures are correct when I ask for the breakdown of costs. Being with NRAM they are not always that accurate!

    Wisdom comes from experience. Experience is often a result of lack of wisdom.
  • spacey2012
    spacey2012 Posts: 5,836 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    They can not charge you anything if you go bankrupt.
    Be happy...;)
  • Thanks Spacey, I know that bankruptcy is probably very much an alternative but I wanted to make that decision once I had all the amounts of how much is owed.

    I am sure most are thinking with a shortfall just go bankrupt and be done with it but I am still looking as it being a last resort at the moment and just want to make sure what I can be charged with the court order in place. Thank you for your advice though.

    Wisdom comes from experience. Experience is often a result of lack of wisdom.
  • spacey2012
    spacey2012 Posts: 5,836 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It is a final option, but unless you are sitting on a pot of money, looking at that bill on a normal wage/ salary you will be paying 20 years of debt.
    The bankruptcy option puts you back on the rails in 12 months and up to full speed in 6 years.
    Be happy...;)
  • Yes it certainly is a possibility but I just wanted to get the right figures as there may be a chance for a F+F offer instead. So it was just wanting to make sure that I only owe what is in the court paperwork for the first charge mortgage.

    Wisdom comes from experience. Experience is often a result of lack of wisdom.
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