Smiales Diary

blind-as-a-bat_2

smiales wrote: »

Hi all,

Not much to update but thought I would check in. OH has received his letter from his boss stating that his reduced salary commences on 16th June so thats him sorted and I have emailed personnel dept requesting info on my reduced hours from them. OH's boss found out we were BR months ago when he saw it in the paper and at first we were upset (embarrassed!) but its turned out to be good now as he is so understanding and can't do enough to help get it sorted. Turns out he has been having a lot of hassle from CSA so understands what its like to be under pressure from the authorities! Also he knows I want to change jobs and has mentioned to OH that they need someone in their offices so he thinks I should apply! Could be a good move, another office but more interesting I think!

I think I might have to talk to personnel about why I want the info I have requested because it all looks a bit odd asking for it so urgently. I didn't really want them to know I'm BR but it might make it easier for them to understand things if i just talk to them.

Could be a gamble depending on the reaction of the staff in personel, BUT having it out in the open does reduce the stress level a bit

Its never really bothered me admitting it, in fact i had BT trying to sell me a credit card this week, really hard sell fast talking so couldnt get a word in type call, soon shut up when i said i was BR last year so dont think i would get one:rotfl: :rotfl: :rotfl:

There are pluses to being a BR;)

smiales

blind-as-a-bat wrote: »

Could be a gamble depending on the reaction of the staff in personel, BUT having it out in the open does reduce the stress level a bit

Its never really bothered me admitting it, in fact i had BT trying to sell me a credit card this week, really hard sell fast talking so couldnt get a word in type call, soon shut up when i said i was BR last year so dont think i would get one:rotfl: :rotfl: :rotfl:

There are pluses to being a BR;)

Hi there, well after getting loads of bits of info from personnel, none of which was going to be good enough for the OR I decided that I would have to come clean with my employer about BR. Glad I have now because within 30 mins of telling them I had an email with a letter attached stating everything I needed for the OR regarding reasons for reduced hours etc. Work have offered counseling for me and assured me that my BR will not go on my personnel file. Think they were being a bit awkward until then as they must have thought I needed the info for a new job! So hopefully the finished letter will be waiting in internal mail for me in the morning.

Only thing we are wondering about now is the BI in the house, we haven't purchased it yet as we have been too skint, OH gets paid on friday so we want to do it this month and do it before sending this info off to OR. Do you think we are worrying unnecessarily about which order to do things in??

smiales

Evening all,

Well I have eventually got all of our evidence together, these things are never easy to get! Even though personnel had sent me an email copy of my letter last week I had to wait until today for the hard copy which I wanted as it would be signed. Also got a sickness report and I was shocked to see that I have had 30 days off since last august! I knew it was bad but when its in black and white its scary. God knows how I will ever change jobs with that sickness history, looks like i better get comfy at my desk for a while....

Anyway, I've been very down this last week, only way I can describle how i feel is that I feel like 'nothing' I feel envious of other peoples situations and resentful of my own and I hate myself for that. I'm eating myself up with anger about life and I feel so guilty for feeling like that. Things could be worse, other people cope with worse than me. Anyway, I didn't come on here to be miserable, see its like literal diarrhea [FONT=&quot]! (sure thats spelt wrong but you know what I mean!)

So I purchased a Postal Order today for the BI in our property and am going to get that sent off tomorrow. Flippin OR aren't the best about explaining things are they? They sent a letter a few months ago saying that we can buy it and they needed a valuation so we organised that and sent it off to them with the signed form saying we want to buy the BI and we had nothing back until about 2 weeks ago which was just the forms we had already signed with a covering letter saying that we needed to sign the forms and if we had already done this accept their apologies? What on earth we are meant to make of that I don't know. So I am on here for advice, what is the procedure that anyone else has followed for the BI? All I am planning on doing is sending the PO to the address for payments with a covering letter saying this is to pay for the BI in our house. Should there be more to it than that??

xx
[/FONT]

Richard_S

Hi Smiales,

After you've sent your payment and covering letter you'll receive a contract from the O.R's solicitor. It's quite straightforward and once you've singed and returned that you'll receive a letter confirming that you are now the holders of the B.I.

It's a really simple process.

Richard

smiales

Thanks Rich, thats good to know, don't want to get it wrong!

smiales

Hi everyone, not much to update really, we sent all our evidence last week and are yet to hear back from OR, also paid for the BI in the house. We did receive a letter from the OR the same day that we sent our evidence saying that they had set another court date for 16th July as we hadn't provided evidence that the judge had asked for but it crossed in the post with what we sent so I'm not thinking too much about that just yet.

We have been thinking this last few days about selling our house and coming off the ladder and going into rented. Main reason for thinking this is because house really is tiny and for what we pay out we could get something much bigger. I wish now that we hadn't bought the house as there is no room for us to grow here at all. We would have to move to have a family but couldn't get, want or afford a bigger mortgage. Other issue is that to rent something bigger would actually be cheaper than mortgage.

Anyway, we are in about 5k negative equity and to be honest are a bit clueless on this area. We would plan to sell after discharge as I imagine that would make life easier as the OR wouldn't be involved. Here are the main questions:

1. We couldn't afford to save for the rental deposit and pay the mortgage
2. What would happen re the negative equity in the house?
3. Would we need to pay six months rent up front?

Any help greatly appreciated.

peachyprice

It is my unerstanding that now you have bought the BI the house is your responsibility again. Therefore if you sell after discharge any shortfall will fall to you. So in answer to your questions

1. If you stop paying the mortgage to save for a deposit your NE will increase even more.
2. You would be liable for it, plus solicitors and EA fees if you sell
3. Quite likely you will need a large deposit, and/or you will have to find guarantors. Having said that you might strike lucky and find a LL who will take you, but this might mean you'll only get a less desirable house.

HTH

dalip

I know nothing about houses. Are you saying peachy that if say a house is valued at 130k but you have a mortgage for 140k you have to pay the 10k difference when you sell the house?.If so what is the point in buying the BI from the OR?D

peachyprice

D, people usually buy the BI to be able to keep the house to live in, not so they can sell it, so it wouldn't matter if there was NE.

If you don't buy the BI the OR retains his interest in the property for 3 years, so if something drastic happened and house prices shot up 2 years, 11 months after BR the OR could still sell the house. However, that's unlikely!

smiales

peachyprice wrote: »

It is my unerstanding that now you have bought the BI the house is your responsibility again. Therefore if you sell after discharge any shortfall will fall to you. So in answer to your questions Yep, I realise that, all depends on what the difference is, going on valuation and mortgage balance its £5k difference.

1. If you stop paying the mortgage to save for a deposit your NE will increase even more. Which defeats the object slightly.
2. You would be liable for it, plus solicitors and EA fees if you sell
3. Quite likely you will need a large deposit, and/or you will have to find guarantors. Having said that you might strike lucky and find a LL who will take you, but this might mean you'll only get a less desirable house. Its a gamble, at least we have a house that we chose at the moment.

HTH

Maybe we'll end up just staying put!