A question for anyone who has done voluntary repossession?

MammaCas

Hi there

I'm hoping someone can answer this....

We considering BR and will need to give up the house - our secured repayments are now way too high.

When going down the Voluntary Repossession route, do they still tape up all the sinks/toilets and put a notice on the window?

Reason for asking is many friends actually walk past my house and I wasn't planning on telling anyone we had given the house up......

Thanks in advance

MammaCas

bobblebot

Yes I am afraid they do. I did it and they changed locks, taped up and repossessed earlier than I asked, went to collect my stuff to find a notice on door asking me to phone office to arrange collection of goods within 14 days-was not nice as I especially did not want people to talk about me. Rang mortgage co. though and they gave me new keys to me to collect stuff as was their error. It was embarressing and at 8mths pregnant I dinot appreciate all the nosey neighbours standing watching me leave. I was going to clean and clear out place but as they did this I left it to them and left my rubbish behind...why bother...just make sure you keep in regular contact with baks and ask which estate agent they have actioned as it is these that will be repsonsible for any notices.

Scarlett.1974

:eek:

I did not know they did this. Bl00dy hell

So, they whack a wopping great sign on your front door? Saying what exactly?? So much for slinking off quietly and hoping the neighbours don't find anything out..... Not that I'm "ashamed" as such but still......

And taping up the sinks/toilets? What's that all about then?!

So, I'm guessing best to clear out everything BEFORE handing back the keys?

Sorry for hi-jacking your thread MC

Gillianh2

They dont always post big notices on windows and doors. By voluntairly handing back the house are you notifying the Building Society etc; If you are you could ask them what steps they take etc; We went down this route a few years ago and after handing the keys back they just went ahead and put the house with an Estate Agent. (Estate agents often tell clients its a repossesion property:rolleyes: )
Try not to worry and defo ask Building Society about handing the keys back.

Good Luck and hold your head up high. You are not alone in your situation it happens to thousands of people everyday.

Scarlett.1974

(sorry again MC for hi-jacking your thread)

Thanks Gillianh2 - we haven't actually told our mortgage co. anything yet. We're planning on leaving here around mid January. I'm wondering when we should tell them of our plans? I guess I'm worried about them "turning nasty" on us? I guess I (naively maybe?) thought I could just go the nearest branch (Northern Rock) and give them back the keys after we moved out..... but is there more to it than that?

Thank you

MammaCas

As far as I know you have to fill a voluntary repossession form in and send the keys back with it, but not 100% sure.

Thanks for all replies, and don't worry about hijacking the thread Scarlett

I too was hoping to slink off quietly but not sure that is going to be possible now.

My neighbour who is very nosy knows everyone where we live including most of my family......

I wonder if I contacted the estate agents and told them there's no need to put a notice up because we are long gone?....

Here's hoping..

MammaCas

silvercar

voluntary possession means less legal and repo charges from your lender. Whether this makes a difference if you are going bankrupt depends on your individual circumstances.

Scarlett.1974

Hi all

Sorry for bouncing this MC and hi-jacking AGAIN but I'm a bit worried about this voluntary repossession malarky and thought I'd boing this one back up to the top of the board, save me starting another thread about it

Right, enough of the pink face now :rotfl:

Basically, we're moving into our rented house on 9th January. So far we have missed just one month's mortgage payment (this month's) so by the time we leave we'll only have missed 2, Dec and Jan, so it's highly unlikely the mortgage co. (Northern Rock) will have started any sort of proceedings. I keep hearing about this "voluntary respossession form", which I assume I have to ask Northern Rock for? When should I do this? Do I need to phone them or would a letter be better? I was thinking of writing to them (I'm better with words than on the phone, I tend to blub ) tomorrow explaining exactly what we're doing and asking them to send said form in the post - does this sound like a good plan?

Many thanks

MammaCas

Scarlett.1974 wrote: »

Hi all

Sorry for bouncing this MC and hi-jacking AGAIN but I'm a bit worried about this voluntary repossession malarky and thought I'd boing this one back up to the top of the board, save me starting another thread about it

Right, enough of the pink face now :rotfl:

Basically, we're moving into our rented house on 9th January. So far we have missed just one month's mortgage payment (this month's) so by the time we leave we'll only have missed 2, Dec and Jan, so it's highly unlikely the mortgage co. (Northern Rock) will have started any sort of proceedings. I keep hearing about this "voluntary respossession form", which I assume I have to ask Northern Rock for? When should I do this? Do I need to phone them or would a letter be better? I was thinking of writing to them (I'm better with words than on the phone, I tend to blub ) tomorrow explaining exactly what we're doing and asking them to send said form in the post - does this sound like a good plan?

Many thanks

Hi Scarlett don't worry about hijacking the thread

When I spoke to CCCS yesterday they said I could just send them a letter saying I am unable to maintain payments on the mortgage and sec loan and include the keys in the letter. But, I think you are right, there is a form you can request from your lender.

Hopefully one of the v. clever people on here will be able to advise...:T