End of mortgage term last year (August 2024) but bank didn't contact me before now - can't pay total

Hoenir

From the lender's perspective this will now run it's natural course. They won't wait indefinately if there's no proactive action taken. The contract will will enforced at additional expense to recover the money owed. 

RelievedSheff

It does sound very much like you are running out of options.

The sooner you accept this and sell your property to settle the balance the better off you will be and the more money you will walk away with.

The costs will only start racking up with agents visits, arrears charges, legal fees and repossession charges all of which will eat into your equity.

By all means seek some advice but do this quickly as you are running out of time on this one and the costs will start escalating quickly.

Admiral_Barbarossa

tifo said:

Admiral_Barbarossa said:

A new 71 plate car in 2021 is part of the problems. 

That was a company car paid for by the business.

So a business bought a car while it was obviously not solvent?