Mortgage remaining how long will bank give me to decide.

Jenniefour

Thanks for the update. I am sorry it's turned out as it has. The solicitor should not have told the executors that what you had written wasn't to his/her liking, it's irrelevant to the matter in hand and probably contributed zero to family relationships.

However, you do have a plan, to sell later on and when you've got time to go home. Hopefully the rent after income tax will cover at least some of the mortgage payments. As Yorkshireman says, make sure the executors get themselves genned up on landlord stuff.

Gives you some time to do a bit of research on how you might want to make use of the money. All the best, OP, and have some champagne anyway.

securityguy

"I have had to decide to rent the house out...il leave all to the executors to sort as they are meant to."

If you own the house, you can sell it.

If you don't own the house, renting it out is someone else's problem.

"Short term I will collect the rent and pay the mortgage"

if you are a landlord, that gives you legal obligations. If you and/or the executors haven't told the bank you're renting the property out, they can be extremely awkward with you.

gettingtheresometime

cclem345 wrote: »

So.....after what I thought was going to be success I was wrong. It wasn't

So the solicitor spoke with the executor a few days after my email and told her she didn't like what I had written.

Said it sounded like I didn't trust her.

Obviously this is because she couldn't answer my questions in black and white so I could say....you have misadvised us.

I have had to decide to rent the house out on the basis that I really am not in a financial position to go back home to sell the house, removals, checks etc.

Short term I will collect the rent and pay the mortgage with a firm view that i will sell the property after the tenancy.

By then everyone will have come to terms with the death and I will have more time and finances to go back home and sell the house without having to get other people to help.

It has caused a lot of problems already with different opinions. Had I been in a better position i would have just went home to deal but I'm unable to with work commitments and relationship commitments.

The solicitor doesn't want to deal with me anymore so from here on in il leave all to the executors to sort as they are meant to.

I get the impression you've been brow beaten into this decision & as others have said there are bigger obligations as a landlord that just collecting the rent.


I also can't help but feel that there will never be a 'right time' for your aunt for the house to be sold.

There are a number of threads on the house buying board ( where you initially posted about this situation) where tenants have not kept a family home in the condition that the landlord would have liked. Also what do you intend doing if the tenant doesn't pay their rent?

System

Yes I've basically given up arguing and debating it for now.

I haven't the energy, time or mean.

Technically no one really owns the house as firstly there is a mortgage remaining that I can't take on. I can't get the house in my name in anyway as they wont approve me for a mortgage.

Solicitor again seems to think it will sit under the control of the executors until the bank write to us asking us for a long term plan. In which I'm hoping it's in the 6-8 months time ( as probate is likely to take another month or two and with general f-ing about that goes with it as long as they are getting paid short term shouldn't push too much.)

The house is being managed by a lettings company so they deal with rent. Tenants have been vetted, both employed and have a perfect renting record. Of course that can change but it's starting without any black marks.

As the property technically has nothing to do with me at the moment and as I technically have no say on anything it shouldn't fall back on me. Yes maybe a few cost issues but I mean if the bank say your letting the house out I can say how could I do anything when I'm not legally owner of the house.

Obviously I'm not hoping anything goes wrong but the sooner the bank write to make a decision the better. Obviously between 6-12 months as it's likely it will take a few months to sell etc and that wont impact the tenants too much if by end of everything the 12 months is up or buyer wants to let it out.

Yorkshireman99

The house is owned by the estate under the supervision of the executors who should, IMHO, have dealt with the whole matter from start to finish. I don't doubt your good intentions but you really should leave everything to them including dealing with the mortgage lender. This might conceentrate their minds on getting to grips with selling. Selling with a sitting tenant will be hard to impossible anda lower price would be obtained.

System

Yeah from now on I'm just leaving things to them. However it's difficult when they are texting and calling seeing what I think about x/y and z. Yet when I give my opinion they brush over it.

My main concern now is getting the rental in as I'm paying the mortgage. See The executors are dealing with everything apart from paying bills. That falls on me which is why I get frustrated cause while everyone else is messing about I'm the one paying. Il have paid 1200 in mortgage payments before I've recieved one from rental and at 24 I certainly am not flush for cash. Again I only did this as solicitor and executors advised me it was best while we seen what we were doing with the house.

No doubt it will sort itself out in the end. Lol

System

Make that 1600. Lol

Yorkshireman99

I can see no valid reason why you should pay. It is the executors responsibilty to deal with the debts of the estate. I am sure you acted from good motives but really think you are being taken advantage of. If the executors don't act correctly they are personally responsible for any losses the estate suffers as a result. To put it bluntly they need a good kick up the backside as does the solicitor.

gettingtheresometime

cclem345 wrote: »

Yeah from now on I'm just leaving things to them. However it's difficult when they are texting and calling seeing what I think about x/y and z. Yet when I give my opinion they brush over it.

My main concern now is getting the rental in as I'm paying the mortgage. See The executors are dealing with everything apart from paying bills. That falls on me which is why I get frustrated cause while everyone else is messing about I'm the one paying. Il have paid 1200 in mortgage payments before I've recieved one from rental and at 24 I certainly am not flush for cash. Again I only did this as solicitor and executors advised me it was best while we seen what we were doing with the house.

No doubt it will sort itself out in the end. Lol

It's very easy for me to say, as I'm not emotional involved but it sounds as if you need to grow a pair.....sorry if that's blunt but your aunt is taking you for a ride.

I'm also wondering if you aren't taking the easy option - far easier to let your aunt & solicitor to ride all over you & what you want or know to be the correct process.

I hope it goes well for you but think this will come to bite you & your aunt on the bum

System

I'm not being taken for a ride as neither of them are gaining anything.

It's actually hassle for them also as they are having to run around organise and sign forms.

I asked them if we could rent it legally I'd roll with that.

They said all would be ok and any problems will fall on them.

Then I said maybe it would be better selling and being done with it All. Again they're concerns and thinking I was making a rash decision made them try to delay that final decision as my circumstances could change in the next 12 month's and maybe someway I can keep the house. ( this was all the general thinking)

This last few weeks ive clearly emphasised maybe it's better to sell. Stevie wonder could see it but again I came up against well sure rent it for 6 months. You can't sell it until probate is granted which could be months etc etc etc.

So really other than saying sell the house and be done with it basically in the rudest way possible as I was basically saying sell the house in the most gentle of ways knowing that feelings and that are still raw.

If my position was different I wouldn't have a problem selling the house but I reckon if I decide that it will involve me having to spend a long time at home completely clearing the house (at the min just has big furniture like beds/sofas/etc). I dont have the time for that nor the money to book time of work pay flights etc etc. My money's running low.

So really what choice do i have. I have family telling me to rent it, solicitors not dealing with me, and I live work abroad and can't go home to address this all.