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  • FIRST POST
    • the_singing_cyclist
    • By the_singing_cyclist 12th Apr 18, 10:00 AM
    • 5Posts
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    the_singing_cyclist
    How to get the house repossesed???
    • #1
    • 12th Apr 18, 10:00 AM
    How to get the house repossesed??? 12th Apr 18 at 10:00 AM
    Hi, Iíll try to be brief....

    Broke up with violent partner. Own a 4 bed house. Have two kids. He had two from current marriage (wonít divorce her even after 10 years apart) they are 12 and 15 and come to stay every other weekend. He has our kids quite often, 3 nights a week sometimes more.
    I moved out last March after another violent episode but this time 6 weeks pregnant. Moved back to parents (who know what he is like)
    Son is now 7 months daughter 4 in June. He doesnít want to sell the house. Wonít talk about it. Literally just walks away from me when I try to broach the subject. Wonít buy me out. Wonít help to sell it.
    Tried to sell the house since last April. Wouldnít budge. Didnít get a single decent offer. Lowered the price. Still nothing. Itís a beautiful house, opposite a 1st class school. In a gorgeous area near a mainline train station and m25. Now off the market.
    So... desperation is taking hold as I cannot live with parents for much longer. I need the money to put down as deposit (c£70k) I work full time in recruitment and have paid nothing to the house since last August.
    He works part time at the airport (kids still go full time childminder/preschool at £1400/month as he wonít look after them for some reason I dkw)
    His salary is c£20k something like that. Mortgage is up for renewal in March 2019. Brexit time. What happens there? Will it go down in value?
    So - if I call the mortgage co (Halifax) say Iím not living there, not paying towards it etc will they investigate his affordability? Then of course repossess because he canít afford it. (He rents the older girls rooms out on Airbnb) Therefore house sells at best possible price no hassle with forcing a sale etc? Can we do this voluntarily so as to avoid bad credit rating for the next 5 years? Mine is impeccable.
    Thanks
Page 1
    • bertiewhite
    • By bertiewhite 12th Apr 18, 10:24 AM
    • 1,192 Posts
    • 1,327 Thanks
    bertiewhite
    • #2
    • 12th Apr 18, 10:24 AM
    • #2
    • 12th Apr 18, 10:24 AM
    So - if I call the mortgage co (Halifax) say Iím not living there, not paying towards it etc will they investigate his affordability? Then of course repossess because he canít afford it. (He rents the older girls rooms out on Airbnb) Therefore house sells at best possible price no hassle with forcing a sale etc? Can we do this voluntarily so as to avoid bad credit rating for the next 5 years? Mine is impeccable.
    Thanks
    Originally posted by the_singing_cyclist
    I'm not sure that will work, but even if the house is repossessed - I don't think you'd see any of it?

    Isn't it normal for the house be sold at auction (probably at below market value) in order to pay off the mortgage?

    The key word is "re-possessed". The Halifax would be taking the house back - they won't be selling it for you!!!

    Also, I would have thought re-possession will damage credit rating, not improve it.

    Happy to be re-educated if I'm wrong.
    Last edited by bertiewhite; 12-04-2018 at 10:26 AM.
    • ~Beanie~
    • By ~Beanie~ 12th Apr 18, 10:24 AM
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    ~Beanie~
    • #3
    • 12th Apr 18, 10:24 AM
    • #3
    • 12th Apr 18, 10:24 AM
    They won't repossess the house unless he stops paying the mortgage and gets into arrears. I think you need to get legal advise about forcing a sale.

    • chelseablue
    • By chelseablue 12th Apr 18, 10:25 AM
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    chelseablue
    • #4
    • 12th Apr 18, 10:25 AM
    • #4
    • 12th Apr 18, 10:25 AM
    Is he paying the mortgage?

    I don't think lenders will have the house repossessed if the mortgage is being paid
    Mortgage starting balance £231,000
    Mortgage after Year 1 £225,000
    Mortgage after Year 2 £218,000
    • the_singing_cyclist
    • By the_singing_cyclist 12th Apr 18, 10:27 AM
    • 5 Posts
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    the_singing_cyclist
    • #5
    • 12th Apr 18, 10:27 AM
    • #5
    • 12th Apr 18, 10:27 AM
    I'm not sure that will work, but even if the house is repossessed - I don't think you'd see any of it?

    Isn't it normal for the house be sold at auction (probably at below market value) in order to pay off the mortgage?

    Happy to be re-educated if I'm wrong.
    Originally posted by bertiewhite
    The house was bought at £308k. Outstanding mortgage is £247k.
    Value is currently c£425k.
    The mortgage company have to sell for best possible price. And we get what is left over.
    • davidmcn
    • By davidmcn 12th Apr 18, 10:28 AM
    • 8,181 Posts
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    davidmcn
    • #6
    • 12th Apr 18, 10:28 AM
    • #6
    • 12th Apr 18, 10:28 AM
    Isn't it normal for the house be sold at auction (probably at below market value) in order to pay off the mortgage?
    Originally posted by bertiewhite
    It's not "normal" for repossessions to be sold at auction, no - they're normally sold via conventional estate agents. And the lender has to take reasonable steps to achieve the best price.

    But it would make more sense for the OP/partner to try harder to sell it themselves - obviously not going to be sold if it's not even currently on the market! Any sort of repossession will add all of the lender's costs onto the mortgage account.
    • the_singing_cyclist
    • By the_singing_cyclist 12th Apr 18, 10:29 AM
    • 5 Posts
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    the_singing_cyclist
    • #7
    • 12th Apr 18, 10:29 AM
    • #7
    • 12th Apr 18, 10:29 AM
    Is he paying the mortgage?

    I don't think lenders will have the house repossessed if the mortgage is being paid
    Originally posted by chelseablue
    Surely when it comes to remortgaging they assess affordability?
    Changes in circumstances etc?
    • davidmcn
    • By davidmcn 12th Apr 18, 10:46 AM
    • 8,181 Posts
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    davidmcn
    • #8
    • 12th Apr 18, 10:46 AM
    • #8
    • 12th Apr 18, 10:46 AM
    Surely when it comes to remortgaging they assess affordability?
    Changes in circumstances etc?
    Originally posted by the_singing_cyclist
    If changing lender, yes. But if just going to a new deal with the same lender, they won't carry out the same checks or ask the same questions. Not sure exactly what Halifax's policy is.

    And in the meantime, telling the Halifax about a drop in income etc isn't going to do anything - they won't care unless the account actually falls into arrears.
    • ~Beanie~
    • By ~Beanie~ 12th Apr 18, 11:44 AM
    • 2,938 Posts
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    ~Beanie~
    • #9
    • 12th Apr 18, 11:44 AM
    • #9
    • 12th Apr 18, 11:44 AM
    If changing lender, yes. But if just going to a new deal with the same lender, they won't carry out the same checks or ask the same questions. Not sure exactly what Halifax's policy is.
    Originally posted by davidmcn
    Halifax don't check, I have done it recently myself. As an existing customer you can just pick a new deal online without any checks.

    • bertiewhite
    • By bertiewhite 12th Apr 18, 12:54 PM
    • 1,192 Posts
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    bertiewhite
    It's not "normal" for repossessions to be sold at auction, no - they're normally sold via conventional estate agents. And the lender has to take reasonable steps to achieve the best price.
    Originally posted by davidmcn
    OK thanks, every day's a school day!!!

    If changing lender, yes. But if just going to a new deal with the same lender, they won't carry out the same checks or ask the same questions.
    Originally posted by davidmcn
    Virginmoney still did affordability & credit checks when I was buying a cheaper house than I was selling for because they said my circumstances could have changed.
    • davidmcn
    • By davidmcn 12th Apr 18, 12:56 PM
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    davidmcn
    Virginmoney still did affordability & credit checks when I was buying a cheaper house than I was selling for because they said my circumstances could have changed.
    Originally posted by bertiewhite
    But if you're buying a house, that's a new mortgage (even if it's the same lender as your previous mortgage). Different from changing to a different product while retaining a mortgage over the same property.
    • Pixie5740
    • By Pixie5740 12th Apr 18, 1:02 PM
    • 12,648 Posts
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    Pixie5740
    You have some very strange ideas about how mortgages and repossessions work.

    Phoning up the mortgage lender and telling them you no longer live there does not absolve you of your obligation to pay the debt nor will it trigger the lender assessing your ex's affordability. You still have joint and several liability for the whole mortgage debt.

    When you say that the mortgage is coming to an end I assume you mean the the introductory offer (fixed rate, etc) is coming to an end rather than the mortgage term itself. That means that at the end of the introductory period the mortgage will simply move on to the lender's Standard Variable Rate.

    If you stop paying the mortgage and your ex cannot keep up repayments then eventually the property might be repossessed but that takes a long time. You won't get £70k back and you won't be buying another property any time soon after a repossession unless you have enough money to buy without a mortgage.
    • bertiewhite
    • By bertiewhite 12th Apr 18, 1:04 PM
    • 1,192 Posts
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    bertiewhite
    But if you're buying a house, that's a new mortgage (even if it's the same lender as your previous mortgage). Different from changing to a different product while retaining a mortgage over the same property.
    Originally posted by davidmcn
    Yeh I get the difference in the 2 circumstances, but what I thought was strange was my affordability was going to be better by buying the cheaper property with the same lender than just switching to a cheaper product with the same lender. My financial circumstances were just as likely to change if I was staying with the same house.
    • Ms Chocaholic
    • By Ms Chocaholic 12th Apr 18, 1:04 PM
    • 9,454 Posts
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    Ms Chocaholic
    Can you move back in?
    Thrifty Till 50 Then Spend Till The End

    You can please some of the people some of the time, all of the people some of the time, some of the people all of the time but you can never please all of the people all of the time
    • waveneygnome
    • By waveneygnome 12th Apr 18, 1:20 PM
    • 215 Posts
    • 137 Thanks
    waveneygnome
    Think you might have missed the bit about 'violent partner'.

    I would not advocate moving back into harms way.
    • Ms Chocaholic
    • By Ms Chocaholic 12th Apr 18, 1:25 PM
    • 9,454 Posts
    • 57,811 Thanks
    Ms Chocaholic
    Think you might have missed the bit about 'violent partner'.

    I would not advocate moving back into harms way.
    Originally posted by waveneygnome

    Yes I did see that but given that he has their children overnight at least three times a week and OP seems happy with that arrangement I was curious about that.
    Thrifty Till 50 Then Spend Till The End

    You can please some of the people some of the time, all of the people some of the time, some of the people all of the time but you can never please all of the people all of the time
    • the_singing_cyclist
    • By the_singing_cyclist 12th Apr 18, 3:48 PM
    • 5 Posts
    • 1 Thanks
    the_singing_cyclist
    Thanks all, this is a good, constructive dialog. I appreciate all your advice and help.
    He is only violent to me when drunk, he is mostly a good dad.
    Iíve sought legal advice - I cannot change locks and kick him out.
    Firstly I want all the kids his and ours to have stability as long as poss, hence Iíve left it till now to really start looking into ways to kick him in to action. He has had a year and done nothing to either sell up or buy me out.
    Secondly he has legal right to the house.
    Thirdly, i am lucky I have the option of living with my parents and just two kids to worry about. His dad is in his late 70s only has a two bed house and couldnít cope with 4 kids! Iím not gonna be evil or difficult about it I just need to get something going here. Iím stuck.
    • Brock_and_Roll
    • By Brock_and_Roll 12th Apr 18, 4:00 PM
    • 852 Posts
    • 848 Thanks
    Brock_and_Roll
    So... desperation is taking hold as I cannot live with parents for much longer. I need the money to put down as deposit (c£70k) I work full time in recruitment and have paid nothing to the house since last August.
    He works part time at the airport (kids still go full time childminder/preschool at £1400/month as he won!!!8217;t look after them for some reason I dkw)
    His salary is c£20k something like that. Mortgage is up for renewal in March 2019. Brexit time. What happens there? Will it go down in value?
    So - if I call the mortgage co (Halifax) say I!!!8217;m not living there, not paying towards it etc will they investigate his affordability?


    As previous posters have said, as long as mortgage being paid, Halifax will not be interested. The OP is jointly & severally liable for the whole debt - if the mortgage payment is not made in full, then both credit ratings will be wrecked.


    Then of course repossess because he can!!!8217;t afford it.


    Again, Halifax wont be interested if "he cant afford it" as long as you "both" can afford it.


    (He rents the older girls rooms out on Airbnb)


    If in the highly unlikely event that Halifax were to call in the mortgage as a result of the breach of terms, this may prove counter-productive. There is potential again to wreck both credit ratings and for equity to rapidly disappear in costs etc


    Frankly there is no real solutions other than directly reaching an agreement with ex to sell the place, or forcing a sale via a solicitor which seems the more likely route given the state of the relationship.


    Having been through a very long and painful legal action, I would caution that much better to compromise early than to fight hard and see the pot disappear in legal costs!


    If the OP is not paying anything towards the mortgage then surely there is money available to rent somewhere and solve the immediate living with parents issue?
    • chelseablue
    • By chelseablue 12th Apr 18, 5:02 PM
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    chelseablue
    Just another thought, but if it ever did get repossessed then both your credit ratings would be badly affected
    Mortgage starting balance £231,000
    Mortgage after Year 1 £225,000
    Mortgage after Year 2 £218,000
    • Thrugelmir
    • By Thrugelmir 12th Apr 18, 8:58 PM
    • 59,480 Posts
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    Thrugelmir
    Just another thought, but if it ever did get repossessed then both your credit ratings would be badly affected
    Originally posted by chelseablue
    Sometimes needs must. If it reached that stage then would be worth speaking to the lender to maintain a relationship. Lenders after all are people too. .
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
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