Repossession, Heavy Debts - Damsel In Distress - Help & Support Needed

JustRi

Hi SSDD23

I was wondering the exact same thing.

The OP is making no sense. Wanting help and advice ?
I don’t think so as it keeps getting rebuffed.

Wanting attention and sympathy ?
I think yes.

kazwookie

1. who is the mortage provider?

2. How many pets do you have / what are they ie cats / dogs etc

3. Please put a link up to the house from rightmoves

4. The car, you say it is a life line, why? if you have no money how are you affording petrol / insurance etc for it?

5. How much to the pets cost to feed each day?

6. What are you using money wise to buy food for yourself?

7. How much do you owe for electric / gas / water / phone etc

8. How much is your mobile phone worth? and what is the cost per month of the package it is on?

Malibu1

JustRi wrote: »

Hi SSDD23

I was wondering the exact same thing.

The OP is making no sense. Wanting help and advice ?
I don’t think so as it keeps getting rebuffed.

Wanting attention and sympathy ?
I think yes.

That's the most ignorant & unhelpful post I've read... Let's only hope you're not in the same position one day .

Malibu1

kazwookie wrote: »

1. who is the mortage provider?

2. How many pets do you have / what are they ie cats / dogs etc

3. Please put a link up to the house from rightmoves

4. The car, you say it is a life line, why? if you have no money how are you affording petrol / insurance etc for it?

5. How much to the pets cost to feed each day?

6. What are you using money wise to buy food for yourself?

7. How much do you owe for electric / gas / water / phone etc

8. How much is your mobile phone worth? and what is the cost per month of the package it is on?

1. who is the mortage provider? Britannia / Drydens Fairfax solicitors

2. How many pets do you have / what are they ie cats / dogs etcFor what reason do you ask?...How is that relevant?

3. Please put a link up to the house from rightmovesThanks, but I'd rather not.

4. The car, you say it is a life line, why? As I said, I couldn't live without a car - I live in semi-rural location, no access to public transport (which would work out more expensive anyway), various health problems and cannot walk far... No funds available at the moment to buy a runaround.if you have no money how are you affording petrol / insurance etc for it?With great difficulty!.. I don't spend much on petrol anyway and a full tank lasts me a while. My insurance is about £25 per month, MOT up to date and normally pay my car tax 6 monthly (managed to pay this just before falling into arrears) and is now on a monthly d.debit at about £17 per month

5. How much to the pets cost to feed each day?Irrelevant - I have sacrificed food myself to make sure they are fed and have what they need... They are like my children to me and I doubt if somebody was in similar situation with children you would be questioning how much food there children eat... I budget the best I can and they are well looked after... I buy bulk for them to save money and the cheapest brands / best deals possible - Whilst still ensuring they have all the nutrients & variety they need.

6. What are you using money wise to buy food for yourself?As DWP messed up my benefits claim, have been surviving on help from family with small amounts of money for food & basic essentials, as stated earlier in thread.

7. How much do you owe for electric / gas / water / phone etcOil heating and had no heating throughout winter... Nearly empty again & no money to purchase oil... Water paid up to date and works out about £10-£20 per month (billed 6 monthly and latest bill just received)... I did have a basic Sky package at about £60 per month which included landline & broadband, but was cut off some months ago due to not being able to pay the bill... Managed later to get a very cheap landline including broadband for £18.50 per month...Electric currently in arrears and they won't accept an affordable payment plan & threatening warrant to force entry.

8. How much is your mobile phone worth? and what is the cost per month of the package it is on?About £10 per month.

WhenIam64

Let's take 2 working assumptions

1. You want to hold onto the house.

If you can get access to Universal Credit, after a time (9 months) you should be able to access Support for Mortgage interest which will pay the interest element of the mortgage (as a second charge on the property). Keeps you in the house and the mortgage alive. When you come to sell in a better market, mortgage and second charge are repaid.

Alternatively look to see if you can get the New Enterprise Allowance if you want to keep your self-employment going. Some income will allow you to make some payment to your creditors to keep hopes alive.

As you've discovered at court, the court will look at keeping a contractual arrangement alive over its term. As long a the Loan to (Auction) Value ratio is positive, then you can argue to stay. as there is the prospect of the mortgage being repaid (or interest if you get SMI)

2. Assumption 2 is that you don't want the house but you want the money as a deposit for elsewhere.

If this is the case, you have to ensure you don't fall foul of the LTAV and risk the lender's capital.

If you move to rented, and are in receipt of benefits, you can get a contribution to your housing costs - as long as you have less than £16K.

You have options - plans B, C and D - but so do your creditors. You just have to make a decision on where you want to go and how to get there.

JustRi

Malibu 1

It’s an observation and my opinion, as when people are offering help you just seem to be resisting it.

I have been in the position before and came out the other end by taking all the help and advice I could get.

I think you need to be more open to the help and not so guarded.

I wish you all the best.

Candyapple

Malibu1 wrote: »

- Approx £120,000 - £150,000 equity in property
- Property currently on market for sale

You said you didn't want to post a link to RM - fair enough.

How much is your property listed for?

How much do you owe on your mortgage?

You said you had secure debts on the property - can you list how much each of these are for?

Is the £120k-£150k what will be left after the house is sold and ALL of your debts (secure and unsecure) are paid off?

Or is it £120k-£150k minus secure and unsecure debts = £? left for you to start over.

Malibu1

Candyapple wrote: »

You said you didn't want to post a link to RM - fair enough.

How much is your property listed for?

How much do you owe on your mortgage?

You said you had secure debts on the property - can you list how much each of these are for?

Is the £120k-£150k what will be left after the house is sold and ALL of your debts (secure and unsecure) are paid off?

Or is it £120k-£150k minus secure and unsecure debts = £? left for you to start over.

About £230,000 outstanding on mortgage, plus ERC of I think about £5,000. Legal fees to date about £500 (that I know of)...

Two secured loans - One with approx £60,000 outstanding and the other about £20,000 (although the latter are trying to claim that I owe them over £60,000)... I also have approx £50,000 unsecured debt, although this could be higher... The unsecured debt was not calculated within my 'money left over' estimate... Plus estate agents fees & conveyancing etc... (providing I don't get evicted in the meantime)..

I need every penny I can get from leftover equity for my future.

Malibu x

Malibu1

WhenIam64 wrote: »

Legal commentary on the Norgan case



There is no defence to a breach of mortgage terms where both parties have willingly agreed. What was examined in the Norgan case was whether to allow the terms to be varied after the event to keep the agreement alive. If there is any doubt, the agreement risks the lender's security then the variation can be examined again. If you go back to court, they might suggest you are being unreasonable in your expectations of price/length of time to resolve the issue i.e you are there at the court's discretion. So avoid going back.

The court order dropping the price was in an auction pack as the owners had to sell or be in contempt of court.

While understanding the difficulties of your position, you should have other plans than just to sit and hope. Have a word with an auction house as there may be cash buyers around.

One final point that I don't understand is an earlier claim to have been mis-sold the mortgage and yet you want to profit from it. Surely if you were mis-sold, the mortgage should be cancelled and the property returned to the lender - winding the clock back. Repayment of anything spent on it could be negotiated.

It is Britannia being unreasonable, not me...

Being dragged through the courts is the very last thing I need / have needed under my circumstances and should not have happened.... I barley made it to the last hearing without collapsing through ill health & thankfully, through the skin of my teeth, managed to avoid being evicted onto the streets...

I didn't think the mortgage lender would be so stupid as to act in the manner they have to date... although am fully expecting them to go for eviction again in the near future... I would do anything to avoid going back to court, but sadly cant help the situation & the stupidity & ignorance of lender is out of my control...

They are in contempt of court, not me...

I am certainly not just 'sitting & waiting'... And doing all I can under my circumstances... To go to auction or drop the price, I may as well just go and sit on a park bench now, with my pets...

I'm obviously not going to just hand the keys back, throw tens of thousands of pounds down the drain and accept being forcibly removed by Bailiffs onto the streets just because Britannia are greedy slimeballs and incompetent, ignorant psychopaths... They have no right whatsoever to make me homeless....

As for repayment from them of anything I've spent on the property being negotiable - Considering what I have spent, and what they have cost me, they would be much better off financially by foxtrotting Oscar and cutting their losses..

System

And how much is the property actually worth?