Sell and rent back schemes advice please

bmpaddy

Sorry - forgot again - the offices are not open until 9.30 on the 2nd of Jan!

southernscouser

bmpaddy wrote: »

Hello again

As I mentioned in my 1st reply I was expecting the cynycism of the above posters hence why I asked for your reply before giving further details.

As for the 'psychological hook' - I can only say that I would not wish this on anyone as the effects have been truly devastating.

If you would like to know more please contact the firm - - on and they can give you details. All I WILL say is that unlike others these guys insist on independent valuations and legal advice to ensure all is above board, you have nothing to lose, if you ask they will call you back to save on your phone bill as well! Look at everything in detail - check everything out, even approach CAB with the documentation just in case these guys CAN help you.

Be lucky!

Post reported. You are not allowed to post for gain or profits on the website.

Need_To_Sort_It

teabelly wrote: »

Have you tried the Citizen's advice bureau to see if there is anything legal you can do to put pressure on the father that isn't paying? If you know the name of the employer have you tried contacting them directly and asking why they aren't taking the money? I'd also try and inform the mortgage co that due to him not paying you are struggling and could you have some sort of reduced payment for a while or change of mortgage to a better rate that you can afford? A good mortgage broker may be able to help you. If you on a DMP then mortgage payments are top priority so they should be paid first. Then the rest of the creditors get what's left. Go back to either payplan or CCCS (assuming you are with one of those) and say you are struggling still and see what they advise.

There are decent sell and rent back people out there but you need to find out what security of residence you had in your property. Also rent might be more than you are currently paying out in mortgage payments so it is worth checking this out before committing to anything. I'd also make sure the CAB saw any contract you were going to sign. If the company doesn't like it then they are not reputable!

I'd also consider getting a lodger if you can squeeze one in before you go down the sell and rent back route. Interest rates are coming down so when you remortgage it might not be at a rate any higher than you are paying now (what rate is it?)

Hiya Tea belly thanks for taking the time to reply.

Ok, I have had lots of advice from various posts I have made on MSE, it been fab and the plan of action is this - get on the blower to CSA tomorrow, quoting liability orders, charging orders, ex gratia payments for maladministration, loads, its gonna be a long call.

I spoke to mortgage company yesterday and they have been brill, understanding and we have agreed very good terms for the time being.

The lovely fellows on the debt free thread took me straight under their wing and told me what to do and how to do it, how to prioritise etc plus lots of money saving tips.

The sell and rent back scheme is looking increasingly like it is not needed at this time and no I wouldn't do it without legal eyes perusing it first.

A lodger, now there is something I could never do, I don't have the space and could not share what we have with someone, I think if I didn't have 'bad nerves' lol, it could be an option, but my space is very important to my well being, but again, if I get desperate then its always an option isnt it.

I cant remortgage at the moment, I am on interest only at 5% fixed until Dec 2008 and then it goes upto 2% above base rate variable, hopefully I will be able to repair some of the credit history I have by then but tight now I have get out fees etc and no one take me on anyway.

Phew that was a long one wasnt it lol

Right have got visitors, so will be back later to reply to the others

Many thanks