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Another Shared ownership nightmare, feed back welcome
Comments
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What a bad idea. Repo is an option of last resort. The bank will load more costs and repo costs are not cheap. Better to sell on your terms. Also if there is a shortfall, repo doesn't wipe away that debt, guess who still needs to pay? Even if your out of the country, it will affect your credit history should you ever need to come back hererik111 said:If you are not living in this country and a foreign citizen, stuff let the bank have the problem and repossess it."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP1 -
In these situation there should be an option to just hand back the key. US have that clause regardless if you own the house or not. UK just need to just implement it.0
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That will ultimately cost everyone. The banks will need to cover the shortfall somewhere with a buffer for insurance I'm sure.cs129 said:In these situation there should be an option to just hand back the key. US have that clause regardless if you own the house or not. UK just need to just implement it.0 -
it's called repo and it doesn't wipe away any money owed if the selling cost doesn't cover everythingcs129 said:In these situation there should be an option to just hand back the key. US have that clause regardless if you own the house or not. UK just need to just implement it."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0
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