Advice for benefits board post

fingledingle

Hi Guys, I asked a question regarding my sister-in-law which I received good advice.
A poster post 8 BillAndJean commented on their friends situation which seems outrageous from the point of the small sums involved, and threats of action after 30days I think your advice would be appreciated https://forums.moneysavingexpert.com/discussion/4640479

I thought I would link this thread to my reply

silvercar

Banks aren't above the law. If they want to repossess they need to go to court and convince a judge to grant a possession order. They then serve that possession order and if the mortgagee still doesn't move out they go back to the court and get baliffs appointed. This all takes time - a few months at the very least.

The chances of them getting a possession order suspended if the mortgagee can show that they have a buyer for the property is high.

Thrugelmir

billandjean wrote: »

Currently he is looking for a rented property whilst staying with us as he has handed the keys over as a voluntary repossession.

Why not attempt to sell the property at the maximum possible price? Handing the keys back and walking away is a defeatist attitude.

So sorry, blaming everybody else simply doesn't wash.

bigadaj

billandjean wrote: »

I don't think he is blaming everybody, just the bank for not wanting to work with him to try and sort out a solution. From what he has told me the bank once they were told that they had no chance of getting the £15,000 out of him as he could no longer work, decided that they had better resolve it by asking him to hand over the keys 'as it was in his best interest'. Now I don't know exactly what was said, but the end result was that he signed the house over to the bank at their request as he could see no other way out given that they would only give him 30 days to get the money together. I doubt that he would have just handed the keys over without being told something.

Yes seems a naive response but would probably have had a basis in something that was said by a bank representative, though they would argue not advice.

The bank want and are entitled to their money back and property ownership comes with responsibility. Sounds like the owner needs or should have gone to cab and come to a better arrangement with the bank, three months for a sale might have been mOre reasonable than 30 days.

I think a comp,ain't is in order and an attempt at a rapid sale of the house, but one that might be in the interest of the owner and not the bank. The bank only want their small debt back and such a situation can see dodgy deals between estate agents and dveleopers at the cost of th e original owner. This is one where media a d press involvement would be good. The bank won't like looking they are being unreasonable or taking advantage of a vulnerable customer.