Please help me Obi-Wan-Kinobis!

Merry_Gentry

tigerfeet2006 wrote: »

Your BR just about trumps everything

Love it!! :rotfl:

SkintyMcFlinty

Well, I don't feel like I've so much of a productive day today but I kinda do feel calmer with dashes of panic here and there for good measure! I've got a few viewings lined up for this weekend so I'm hoping that will prove fruitful. Mind you, I need next month's wages before I can make the move - all being well.

I've had a couple of conversations with estate agents, one I mentioned on here yesterday but today I had a different one. It was a wee bit bizarre because the lady didn't really know what to do. On the one hand I'd pass a credit score now but I've come clean and mentioned my circumstances and that BR was on the cards. She said that whilst I could pay the rent, what about the adverse affect I would have on that address for future tenants in terms of credit scoring. I couldn't really answer her as I wasn't sure my black mark would remain at that address even after I'd left. Is that right?

The viewings I've got lined up are with the LLs themselves present. I don't what to do - do I say, 'I'm interested, but I should tell you that BR is forthcoming.' or do I say nowt, ask for a copy of the tenancy agreement from the letting agent and see if I'm okay. Bit of a sticky wicket me thinks. Any suggestions?

I've also managed to withdraw my wages, so once I've got my new account details I'll pay that money in there.

Hope everyone else is having a productive week. And, thanks again for listening and the excellent advice and friendly reception. :T

dalip

Skinty rest easy. Years ago if a person went bc it went against the address but that changed because like you say,other people would move to that address and get "blacklisted". Now it goes against the person not the address.Good luck with the viewings.D

SkintyMcFlinty

Thanks Dalip. Didn't I promise you panic? At least I can speak with some authority now when I have one of those conversations again - which I'm sure will be in the not too dim and distance future. Hey-hum.....

eboy1975

Skinty,

Your situation seems to attracting some sympathy - I wonder if anybody has any advice for me. My situation has been caused by a number of factors, rising property caused my risk averse appetite to wain in 2000 (before that we had no credit whatsoever, not even an overdraft) when we bought our home and I decided that I would play the stock market with the equity in our home - result: stock market won! Didn't learn lesson and enjoyed the fact that borrowing money was so easy until last summer (nice cars, holidays etc) and have found ourselves in a situation where (at entirely our own doing through sheer stupidity and greediness), although our combined monthly income is approx 3200, we will soon be in a position where most, if not all, of our income is going to be going out of the front door. I will list our liabilities;

NR mtg - 158k o/s & fixed rate going up in sept to 950 pm
property probably worth 150kish now

First plus loan also on this property for 38k - 420 pm

2nd NR mtg - 72k o/s - BTL property purchased Apr 06 for £77k
Currently on market after being self sufficient for 2 yrs for 89,950 - likely to get 85k (hopefully) - covering mtg payment of 450 pm until sold

3rd NR mtg - 62k o/s - property purchased from relative in sept 06
Not looking to sell but worth 90-95k - 320 pm

NR unsec loan 7.5k - 4 yrs to run - 200 pm

C/cards - total balances 8k - have been paying approx £1k pm to reduce balances

Perhaps unlike most, I know that we have been totally reckless but I am concerned that my relative's property (we own it but refer to it as this) may have to be sold to repay all of the negative equity on our own residential property.

We are hoping to repay the unsec loan & card balances from the sale of the BTL property but have spoken to NR & First Plus about selling the residential with big neg equity however, First Plus have said that unless we can repay 60% of their loan they can prevent the property being sold. We have explained to them that we DO want to pay and have asked if we could transfer the debt to the relatives property however, they won't allow this unless we reside there (& it is 350 miles away!)

Massively stuck - would appreciate any comments (except you are a !!!! - because I know this already).

thanks in anticipation

tigerfeet2006

eboy you really should start your own thread with this then it won't get lost in some elses thread.

But the most important thing you should do is ring one of the debt charities in my signature and get some professional advise.

Welcome to the forum and I hope you can get thing sorted.

SkintyMcFlinty

Just a quick update - is it okay if this is my diary thread or should I start a new one? Not sure if this is the correct forum etiquette.

Going for my first viewing this evening. Haven't explained my situation to the LL yet but if I like the property I will divulge this information. Its not a comfortable conversation to have over the phone but even less face to face I imagine. But I'm working on growing that 'pair' I mentioned

Got quite a few other viewings lined up tomorrow, so I'm hopeful that out of all of them I'll find something suitable. Wish me luck!

Also, received the BR petition paperwork through post today. Good grief! I hope there's a tree being planted somewhere in the world! I haven't looked through it yet just took the wodge out and left it on the table. I will look through it but not today. Gotta focus on one thing at a time. Speaking of which I really need to write a list of everything I need to sort out for the move.

Good thing is I'm sleeping a little better and hope to be snoring my head off by a less ungodly hour this evening.

Thanks again and good luck to those of you in the same boat if you happen across this post

Merry_Gentry

Hey Skinty,

I started off just asking questions then turned them into my diary. so go for it!! When H and I were looking to rent, we deliberately called anonymously about properties we were interested in and asked if they rented to undischarged BRs. That way, if the answer was no (and it was with a few of them) then we didn't see a property, fall in love, and lose out as it were

dalip

Good point merry,saves a lot of dissapointment:T D

SkintyMcFlinty

Hi Merry. Thanks for that. I've tried to be upfront with a majority of the estate agents I've spoken with so far. I don't want to do exactly what you've said, see a property, fall in love, etc only for it to fall through or me have to leave after however long because of a BR clause in the tenancy agreement.

I feel like I'm in a bit of a catch 22 situation at the moment as I know my credit score would be good at the mo as I've not missed any payments as yet (although will have by Tuesday). But if I wait a few months it'll be down the swanny and I'll be in a worse position in that respect. I'm off to see a few houses tomorrow but most of them are aware of my situation and seem willing to entertain me. Indeed, one estate agent in response to my 'I'll be BR in a few months', said 'We're just bothered about you being able to pay the rent.' and seemed completely unfazed by it all. Another seemed genuinely confused as to how to respond but eventually said that as long as LL was aware of it and happy enough, then they were too. But we'll see - I'm not counting any chickens yet.....

As for the house I viewed this evening, it was beautiful but unfortunately didn't offer a secure enough garden area for my little rat of a dog. He's a typical terrier and always ferreting about trying to see how he can escape from the garden (tsk - actually tutted out loud whilst typing that bit ). Arh, but he is lovely.

Anyway, I'm starting to get square eyes so I'm off to have a mooch round the boards then I think its time for figgy rolls and hot chocolate - don't say I don't know how to live the good life!!

Thanks as always x x