Advice on eviction

[Deleted User]

Even if the contract can be challenged and beaten, that's going to be very expensive, are you in a position to afford this or is it just going to put you even further in the hole...

Personally I would be starting to look at accepting defeat, accepting that defaulting on the mortgage is inevitable and looking at the way to minimise the long term damage. It won't be pretty, but at least you'll be able to get these toxic people out of your lives and rebuild.

dimbo61

Stop paying the mortgage
Your parents may now get the message.
rent will be mortgage payment every month or they will lose the house

Rocky99

I'm scared of long term renting, I'm worried of the affect it will have on the children forever renting and moving around.

The solicitor initially looked at them living there as part of a licence, permission to reside but having looked at this 'contract' he said that this argued in court basically means they only went through with the transaction so long as they could live there until death, and that's all they would look at. He said a judge would sympathise but the law is the law regardless of the past.

If we default realistically how long would it be until we could look at having our own mortgage?

Thank you everyone

BigAunty

I suppose you could get second advice from another solicitor to see if they think the peace of mind note is as bullet proof as the first.

You could proceed with the eviction anyway, knowing the strong risk that the judge will find against you but prepared to take a gamble.

Also, you could post the brief scenario on the Landlordzone forum and solicitors response to get fresh eyes on it. Some of the members are housing solicitors.

You could post about the impending repossession on the Debt Free wanabee board to understand what your future debt management strategy could be, what options you may have,if it could ever be written off,if bankruptcy is feasible and how long it could be to recover from it.

You could send back that letter to your parents that they forwarded to you telling them that you aren't in the position to pay a penny more after sinking £x pounds into it over the past x period of time to the detriment of being able to provide for your own family,sacrificing your own chance of owning a family property and suggest to them that they should start preparing to find accommodation after it is repossessed. Tell them they have the option to sell it and keep the equity otherwise there will be a date when bailiffs will come to change the locks, the lender then selling it for buttons at auction. Then simply switch off your phone and send everything they mail you as 'return to sender'

See the Shelter website about the repossession process - its best to keep your lender advised of your inability to pay.

BigAunty

Rocky99 wrote: »

I'm scared of long term renting, I'm worried of the affect it will have on the children forever renting and moving around.

How does that compare with long-term exploitation by your parents? Their lifestyle at your expense could go on for another 30 plus years....

dancingfairy

Well if you don't pay the mortgage it's likely at some point that the house will be repossessed. This could take up to a year (maybe longer). Obviously your credit rating will be shot to pieces. Due to not paying the mortgage for such a long time whilst you wait for repossession and interest and charges, and by the time the new owner evicts your parents and sell the house you may not have any equity left. If there is a shortfall the lenders will come after you for the shortfall and you will have to make an arrangement to pay it or worst case scenario go bankrupt.
Bankruptcy will always have happened and you will always have to declare it if asked but you are looking at at least 6 years before it disappears from your credit file and you are maybe in a position to get a mortgage. Arrears and defaults will also mess up your credit file significantly and stay on there for 6 years so there isn't a massive differnence long term (if you have ever been bankrupt then you will have less lenders to choose from and may have to pay a higher interest rate but it is definitely possible).
I don't see that having the house repossessed will have any impact on your current rental property, apart from the fact you will no longer be paying a mortgage and will therefore have more money. You will though struggle if you need to move into another rental and face a credit check (although you can offer things like a home owning guarantor or 6 months rent up front but it will be a lot harder).
Obviously getting into arrears on the mortgage could cause problems if you work in a place where you are likely to be credit checked.
df

lighting_up_the_chalice

Get the property marketed and a "For Sale" board put up ASAP. That'll be something for them to explain to the neighbours and a clear indication of your intentions. It doesn't matter if it sells, just that it's for sale with the biggest, ugliest board outside, ideally from the EA who deals in properties at the lower end of the market!.

DRP

lighting_up_the_chalice wrote: »

Get the property marketed and a "For Sale" board put up ASAP. That'll be something for them to explain to the neighbours and a clear indication of your intentions. It doesn't matter if it sells, just that it's for sale with the biggest, ugliest board outside, ideally from the EA who deals in properties at the lower end of the market!.

Absolutely! good idea. You need to relieve them of the idea that you are just a doormat and that they are in control.

If it were me I'd be moving in with them a well. Possession is 9/10 and it's not so easy for them to pretend they are not being total swines when there is a family with kids under their feet.

BigAunty

lighting_up_the_chalice wrote: »

Get the property marketed and a "For Sale" board put up ASAP. That'll be something for them to explain to the neighbours and a clear indication of your intentions. It doesn't matter if it sells, just that it's for sale with the biggest, ugliest board outside, ideally from the EA who deals in properties at the lower end of the market!.

Poor idea - its provocative, her parents won't cooperate with viewings,the estate agent's time will be wasted.

lighting_up_the_chalice

BigAunty wrote: »

Poor idea - its provocative, her parents won't cooperate with viewings,the estate agent's time will be wasted.

It may concentrate their minds.... and wasting estate agents time is hardly a concern for the OP (or anyone else, for that matter!!).