mortgage been sold :(

joannegollins

No she has nothing in place and will have to sell at the end of the arrangement.

Ms_S_Al_Tellawy

Hi
My story more complicated than any .
I Re-Mortgaged with GE Money but put my ex name without his knowingin 2008 , The broker was corrupt and He made me believe that ( Old authorization letter dated over 7 year) mean the power of attorney ,both wittnesess were my friend signed without seeing my ex he lives across water.
So to cut the story short the Mortgage counted as fraud and police informed .But GE Money aware I am disabled and mental health as sever depression set within and riddeled with spinal injuries pains and hospitals so .my ex stop paying since 2011 and arears over £81000 and while the ombudsman still try to find the solution they quickly sold the debts to Engage credit .
The house in 2008 was over valued by £95000 and the house now only £155,000. but Engage credit wants aprx £416000, seem good laugh .
So my daughter cause my disability and waiting operations and risky treatments decided the house on sale and impossible sell fast she wants to buy the house for £135000.
Engage credit refused but have I no right even negative equity and the mess of illegal contract , to sell the house to any one I want , and let them comes after me for the rest of the money?.

Brock_and_Roll

Hard to really understand your post, but it appears you are admitting that you committed mortgage fraud back in 2008 albeit with possibly some extenuating circumstances.


GE Money were the victims of that fraud. To cut their losses they have sold the debt to Engage who are seeking to recover the money + interest + costs.


Of course the £416k figure is extremely high and much more than the value of the property - if you have no other assets of value and given your medical situation, would it not be better to simply return the keys and declare yourself bankrupt as there is no hope of ever paying the debt.?

Brock_and_Roll

Also as you are a clairvoyant, surely you could have foreseen that house prices in Northern Ireland were going to fall sharply?


What did you do with all the money you got with the re-mortgage?

magpiecottage

I think, perhaps, this is a wind up B&R.

vinovium1

Hi
I was with GE money with my mortgage. The mortgaged house has been rented out for over 7 years and GE Money were fine with this. I did not need to change my mortgage to a Buy to Let with me being in negative equity.
I get the letter stating that Kensington are taking over. GE Money stated in the letter that the terms and conditions of the mortgage will remain the same. The only thing that will change is the way that I may pay.
Kensington provide me with their details and then.... I get a letter from Kensington stating that I am in breach of my mortgage and they do not consent this occupation.
For them to consider consent:
They stated that £100 plus solictors costs (admin) need to be sent to them. The property has to be on a shorthold tenancy. They need to see the tenancy agreement. And confirmation of rrenatl income.
They have also given me a list of unacceptable letting situations
No one who is on benefits
Cannot be let out by a company
letting to housing association or local authority
Letting to students
Agreements cannot exceed 6 months.
They can only accept letting to an individual tenant.

My property is being managed by a a private accommodation provider.
Do I still have to pay the administration fee? My tenancy agreement will bewith the accommodation provider as the tenants in there do not have a permanent abode.
Please I need some advice. Thanks in advance.

silvercar

vinovium1 wrote: »

Hi
I was with GE money with my mortgage. The mortgaged house has been rented out for over 7 years and GE Money were fine with this. I did not need to change my mortgage to a Buy to Let with me being in negative equity.
I get the letter stating that Kensington are taking over. GE Money stated in the letter that the terms and conditions of the mortgage will remain the same. The only thing that will change is the way that I may pay.
Kensington provide me with their details and then.... I get a letter from Kensington stating that I am in breach of my mortgage and they do not consent this occupation.
For them to consider consent:
They stated that £100 plus solictors costs (admin) need to be sent to them. The property has to be on a shorthold tenancy. They need to see the tenancy agreement. And confirmation of rrenatl income.
They have also given me a list of unacceptable letting situations
No one who is on benefits
Cannot be let out by a company
letting to housing association or local authority
Letting to students
Agreements cannot exceed 6 months.
They can only accept letting to an individual tenant.

My property is being managed by a a private accommodation provider.
Do I still have to pay the administration fee? My tenancy agreement will bewith the accommodation provider as the tenants in there do not have a permanent abode.
Please I need some advice. Thanks in advance.

Send a copy of your consent to let from GE to Kensington. Write a covering letter highlighting that they have written to you saying the terms are unchanged, so you have no need for any consents that you already have.

vinovium1

Thank you silvercar ::)