Urgent Advice Needed re Voluntary Repossession with a Suspended Possession Order.

Daisy4567

Afternoon All,

I seek your valuable advice again. You'll see from my previous posts that we were moving out of our property which we owned which we could no longer afford to pay or upkeep.

We have now moved out, into rented property and are ready to hand the keys back to the mortgage company who are currently phoning us several times a day as we are 16 days late with our payment.

We haven't spoken to them as I needed advice and to get out of the property first.

We haven't had a letter yet.

My question is this please - tonight we will be writing the letter to go in with they keys, the stress is getting too much for me and I need the house gone, but what do we put? Is there a template letter anywhere here?

They have a Suspended Possession Order already and we want them to enforce it but what do we write?

There will be a shortfall on the sale so we intend to go Bankrupt.

The house needs repair as it has terrible damp.

Please help and thank you in advance.

tiggerbodhi

Hi,
I Just wrote a simple letter saying along the lines of "please find enclosed the keys to XX Smith Street, we are surrendering the property for you to re-possess, please can you acknowledge receipt asap, the property has been left in a secure sate with all windows and doors locked, the local Police have been informed the property is empty"


You can try to send these recorded delivery, but some Mortgage companies wont sign for recorded deliveries! don't forget to keep the buildings insurance going on the property until you get confirmation it has been re-possessed.


As for the phone calls, answer it tell them you have left the property and to fill their boots on the re-possession, same with the letter, but don't sign a thing.
Could be time to change your phone number......:-)

Daisy4567

Do we have to give them our new address? I'd really rather not if possible for the time being.

SteveABC

Same circumstances for me. I wrote a similar letter to the one suggested above - just saying the house was empty and I would not be making any further payents to the mortgage and was now bankrupt (I enclosed my BR order which gave them my new rented address and I enclosed the keys)

Then you just need to hold your nerve and wait!

For me the repo actually took place a year later and I kept up the buildings insurance on the old property for that period. I had periodic contact from the lender but just ignored everything and DID NOT SIGN ANYTHING.

When they eventually repossessed all the shortfall from the negative equity fell into the BR.