Help needed regarding reposession

user1977

pinkshoes said:

panda4556 said:

I think your right use the equity to live my life I'm fed up of working two jobs, minimum wage tax on top than council tax. I've never had a benefit handout handout the illegal immigrants get treated better than British citizens I was born in the UK in the 70s lived all my life in the UK I've seen it all. Collapsing economy higher tax rises food living crisis high energy bills & what will I do with the house look at the bricks & mortar ? You only live once I might as well enjoy the equity 
No reply from the solicitor as of yet I have emailed & told them I would like to hand the bank the keys. No point in stressing over this, money can't buy good health even if one cell in the human body is stressed chain reaction all the body gets stressed which leads to low energy low immune system I think I'll stay put & only come back to the UK on a holiday for shopping walkers crisp, cheese & Warburton bread & a few bottles of Henderson Relish 
Reading my post you might think this a joke it's no joke I'm very honest 

Don't hand the keys over - it doesn't work that way!

And kind of academic anyway while there's a tenant occupying the property.

panda4556

pinkshoes said:

panda4556 said:

I think your right use the equity to live my life I'm fed up of working two jobs, minimum wage tax on top than council tax. I've never had a benefit handout handout the illegal immigrants get treated better than British citizens I was born in the UK in the 70s lived all my life in the UK I've seen it all. Collapsing economy higher tax rises food living crisis high energy bills & what will I do with the house look at the bricks & mortar ? You only live once I might as well enjoy the equity 
No reply from the solicitor as of yet I have emailed & told them I would like to hand the bank the keys. No point in stressing over this, money can't buy good health even if one cell in the human body is stressed chain reaction all the body gets stressed which leads to low energy low immune system I think I'll stay put & only come back to the UK on a holiday for shopping walkers crisp, cheese & Warburton bread & a few bottles of Henderson Relish 
Reading my post you might think this a joke it's no joke I'm very honest 

Don't hand the keys over - it doesn't work that way!

The best thing to do is get the agent to issue an S8 IMMEDIATELY. Phone them NOW and back this up with an email to get the ball rolling and tell them to act on your behalf for now. If the tenant has any sense they'll move.

Once the tenant has gone, auction the property. You'll get a much better price with no tenant.

If the bank auction it with a tenant that doesn't pay rent then you'll lose a lot of money!

Once it is sold, enjoy the equity and start living! 

Won't the bank evict the tenant then sell for the best price they can get ?

Edi81

panda4556 said:

pinkshoes said:

panda4556 said:

I think your right use the equity to live my life I'm fed up of working two jobs, minimum wage tax on top than council tax. I've never had a benefit handout handout the illegal immigrants get treated better than British citizens I was born in the UK in the 70s lived all my life in the UK I've seen it all. Collapsing economy higher tax rises food living crisis high energy bills & what will I do with the house look at the bricks & mortar ? You only live once I might as well enjoy the equity 
No reply from the solicitor as of yet I have emailed & told them I would like to hand the bank the keys. No point in stressing over this, money can't buy good health even if one cell in the human body is stressed chain reaction all the body gets stressed which leads to low energy low immune system I think I'll stay put & only come back to the UK on a holiday for shopping walkers crisp, cheese & Warburton bread & a few bottles of Henderson Relish 
Reading my post you might think this a joke it's no joke I'm very honest 

Don't hand the keys over - it doesn't work that way!

The best thing to do is get the agent to issue an S8 IMMEDIATELY. Phone them NOW and back this up with an email to get the ball rolling and tell them to act on your behalf for now. If the tenant has any sense they'll move.

Once the tenant has gone, auction the property. You'll get a much better price with no tenant.

If the bank auction it with a tenant that doesn't pay rent then you'll lose a lot of money!

Once it is sold, enjoy the equity and start living! 

Won't the bank evict the tenant then sell for the best price they can get ?

If the bank does that they will take most of your equity in fees leaving you with very little. 

panda4556

Edi81 said:

panda4556 said:

pinkshoes said:

panda4556 said:

I think your right use the equity to live my life I'm fed up of working two jobs, minimum wage tax on top than council tax. I've never had a benefit handout handout the illegal immigrants get treated better than British citizens I was born in the UK in the 70s lived all my life in the UK I've seen it all. Collapsing economy higher tax rises food living crisis high energy bills & what will I do with the house look at the bricks & mortar ? You only live once I might as well enjoy the equity 
No reply from the solicitor as of yet I have emailed & told them I would like to hand the bank the keys. No point in stressing over this, money can't buy good health even if one cell in the human body is stressed chain reaction all the body gets stressed which leads to low energy low immune system I think I'll stay put & only come back to the UK on a holiday for shopping walkers crisp, cheese & Warburton bread & a few bottles of Henderson Relish 
Reading my post you might think this a joke it's no joke I'm very honest 

Don't hand the keys over - it doesn't work that way!

The best thing to do is get the agent to issue an S8 IMMEDIATELY. Phone them NOW and back this up with an email to get the ball rolling and tell them to act on your behalf for now. If the tenant has any sense they'll move.

Once the tenant has gone, auction the property. You'll get a much better price with no tenant.

If the bank auction it with a tenant that doesn't pay rent then you'll lose a lot of money!

Once it is sold, enjoy the equity and start living! 

Won't the bank evict the tenant then sell for the best price they can get ?

If the bank does that they will take most of your equity in fees leaving you with very little. 

What fees do they charge? Estate agent fees, court fees, solicitor fees 

user1977

Edi81 said:

panda4556 said:

pinkshoes said:

panda4556 said:

I think your right use the equity to live my life I'm fed up of working two jobs, minimum wage tax on top than council tax. I've never had a benefit handout handout the illegal immigrants get treated better than British citizens I was born in the UK in the 70s lived all my life in the UK I've seen it all. Collapsing economy higher tax rises food living crisis high energy bills & what will I do with the house look at the bricks & mortar ? You only live once I might as well enjoy the equity 
No reply from the solicitor as of yet I have emailed & told them I would like to hand the bank the keys. No point in stressing over this, money can't buy good health even if one cell in the human body is stressed chain reaction all the body gets stressed which leads to low energy low immune system I think I'll stay put & only come back to the UK on a holiday for shopping walkers crisp, cheese & Warburton bread & a few bottles of Henderson Relish 
Reading my post you might think this a joke it's no joke I'm very honest 

Don't hand the keys over - it doesn't work that way!

The best thing to do is get the agent to issue an S8 IMMEDIATELY. Phone them NOW and back this up with an email to get the ball rolling and tell them to act on your behalf for now. If the tenant has any sense they'll move.

Once the tenant has gone, auction the property. You'll get a much better price with no tenant.

If the bank auction it with a tenant that doesn't pay rent then you'll lose a lot of money!

Once it is sold, enjoy the equity and start living! 

Won't the bank evict the tenant then sell for the best price they can get ?

If the bank does that they will take most of your equity in fees leaving you with very little. 

Bit of an exaggeration to say most of the equity given how much equity there is here - evicting the tenant will certainly add to their costs, but then again the OP would have much the same costs if they were doing it themselves. Whoever does it though, I expect it will be a worthwhile "investment" compared with trying to dispose of the property with the tenant in situ.

panda4556

user1977 said:

Edi81 said:

panda4556 said:

pinkshoes said:

panda4556 said:

I think your right use the equity to live my life I'm fed up of working two jobs, minimum wage tax on top than council tax. I've never had a benefit handout handout the illegal immigrants get treated better than British citizens I was born in the UK in the 70s lived all my life in the UK I've seen it all. Collapsing economy higher tax rises food living crisis high energy bills & what will I do with the house look at the bricks & mortar ? You only live once I might as well enjoy the equity 
No reply from the solicitor as of yet I have emailed & told them I would like to hand the bank the keys. No point in stressing over this, money can't buy good health even if one cell in the human body is stressed chain reaction all the body gets stressed which leads to low energy low immune system I think I'll stay put & only come back to the UK on a holiday for shopping walkers crisp, cheese & Warburton bread & a few bottles of Henderson Relish 
Reading my post you might think this a joke it's no joke I'm very honest 

Don't hand the keys over - it doesn't work that way!

The best thing to do is get the agent to issue an S8 IMMEDIATELY. Phone them NOW and back this up with an email to get the ball rolling and tell them to act on your behalf for now. If the tenant has any sense they'll move.

Once the tenant has gone, auction the property. You'll get a much better price with no tenant.

If the bank auction it with a tenant that doesn't pay rent then you'll lose a lot of money!

Once it is sold, enjoy the equity and start living! 

Won't the bank evict the tenant then sell for the best price they can get ?

If the bank does that they will take most of your equity in fees leaving you with very little. 

Bit of an exaggeration to say most of the equity given how much equity there is here - evicting the tenant will certainly add to their costs, but then again the OP would have much the same costs if they were doing it themselves. Whoever does it though, I expect it will be a worthwhile "investment" compared with trying to dispose of the property with the tenant in situ.

Property market value 300k outstanding mortgage 86k

silvercar

It seems your misfortunes have been compounded, not only by having an unreliable tenant, but by a letting agent who don't seem to be doing any work on your behalf!

sheramber

The bank will sell for an amount that guarantees them their money. they will look for a quick sale.

If that is an auction the final pricwewill depend on what bidders there are on the day.

The bank are looking after their own interests, not yours.

Do not expect them to work on your behalf.

panda4556

sheramber said:

The bank will sell for an amount that guarantees them their money. they will look for a quick sale.

If that is an auction the final pricwewill depend on what bidders there are on the day.

The bank are looking after their own interests, not yours.

Do not expect them to work on your behalf.

It a sought after area the houses are snapped up quick very posh area 

housebuyer143

user1977 said:

Edi81 said:

panda4556 said:

pinkshoes said:

panda4556 said:

I think your right use the equity to live my life I'm fed up of working two jobs, minimum wage tax on top than council tax. I've never had a benefit handout handout the illegal immigrants get treated better than British citizens I was born in the UK in the 70s lived all my life in the UK I've seen it all. Collapsing economy higher tax rises food living crisis high energy bills & what will I do with the house look at the bricks & mortar ? You only live once I might as well enjoy the equity 
No reply from the solicitor as of yet I have emailed & told them I would like to hand the bank the keys. No point in stressing over this, money can't buy good health even if one cell in the human body is stressed chain reaction all the body gets stressed which leads to low energy low immune system I think I'll stay put & only come back to the UK on a holiday for shopping walkers crisp, cheese & Warburton bread & a few bottles of Henderson Relish 
Reading my post you might think this a joke it's no joke I'm very honest 

Don't hand the keys over - it doesn't work that way!

The best thing to do is get the agent to issue an S8 IMMEDIATELY. Phone them NOW and back this up with an email to get the ball rolling and tell them to act on your behalf for now. If the tenant has any sense they'll move.

Once the tenant has gone, auction the property. You'll get a much better price with no tenant.

If the bank auction it with a tenant that doesn't pay rent then you'll lose a lot of money!

Once it is sold, enjoy the equity and start living! 

Won't the bank evict the tenant then sell for the best price they can get ?

If the bank does that they will take most of your equity in fees leaving you with very little. 

Bit of an exaggeration to say most of the equity given how much equity there is here - evicting the tenant will certainly add to their costs, but then again the OP would have much the same costs if they were doing it themselves. Whoever does it though, I expect it will be a worthwhile "investment" compared with trying to dispose of the property with the tenant in situ.

You can certainly expect the bank to charge large admin fees for arranging the possession order and evicting the tenant, if that is in fact the route they choose to go down.