Selling a Home bought with homebuyer direct scheme

Hpoolsteve

Hello all,

This is my first post here. I am at the end of my tether right about now...

So the story begins.

Purchased a house on the buydirct government scheme at the back end of 2008. The purchase price was £125,000. £98,000 coming from mortgage and the remainder from government and home builder. With the way the housing market went after that date the property value decreased significantly.

So the property value has increased a little now and as an estimate i would say the house is now worth £115,000 ish.

The problem i have is that we have had several people move into the street in various houses and are scum bags (not politically correct). They are causing a lot of trouble. Several complaints to the council and police etc and they are still there.

My question is how do i go about selling the house.

Nobody in there right mind would buy the house at the asking price, once they had drove up the street and seen the gangs of youths hanging around. with their horse and carts etc

Where would i stand selling to an agency for a knocked down price. If even allowed on the homebuyer scheme. I don't want to rent the property with the fear of getting more unsavory people in.

Any advice would be greatly appreciated.

Steve

kingstreet

If you try to sell for less than the outstanding secured loans, the charge holders will block you.

You need to speak to your mortgage lender and the second charge holder and find out their stance on the situation.

Link to HOP for HomeBuy Direct;-

http://www.myfirsthome.org.uk/content/1/114/hbd.html