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Persimmon Shared Equity
angel3130
Posts: 22 Forumite
My shared equity loan is due for repayment next month. I have had my house up for sale since Feb and had 2 buyers pull out. I really dont want to move as I can't get a mortgage with my credit rating and I'll have to rent at a higher price than my mortgage repayments are. Does anyone know what will happen if I don't sell my house by next month? I know they'll start charging interest on the loan but will they repossess the house? Ive tried calling Ascent who are dealing with the loan but they are impossible to get hold off!
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Comments
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What do your T+Cs of your loan state when the term matures next month?
Perhaps your house is overpriced or a slow market?"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
All of the rules of the scheme are available at https://www.ascent.co.uk/persimmon-home-owner-loans/
They state If you are not able to repay your Equity Loan you should contact us at the earliest opportunity to discuss your situation and options available to you.
Ignoring the situation could result in your home being put at risk. Calling us on 0333 010 0067 will allow us the opportunity to work with you to find a solution.
You need to contact them ASAP as Your home may be repossessed and sold to repay your outstanding Equity Loan. It is therefore very important that if you feel you are not able to repay your Equity Loan that you call us on 0333 010 0067 at the earliest opportunity to discuss your situation and options available to you.0
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