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T O P I C R E V I E W
jane.m
Posted - 15 August 2008 : 08:23:57 HI
if when you go bankrupt the or thinks that you could rent something for say £300.00 cheaper than mortgage even if you are in negative equity could he then stop you buying the bi and after a year then make you move out as their could then be potentially more money to pay your crediors.
Your assisiance is this would be very much appreciated as this is the route I a planing to take but need to try and safeguad my house as this is stability for my son.
Many Thanks
3 L A T E S T R E P L I E S (Newest First)
John
Posted - 15 August 2008 : 10:05:57 Hi jane you would still have the 12 months to find alternative accommodation.
If for some reason they did impose it do you still have 12 months in your home or do you have to get out quicker.
Sorry for the continued questions
Thanks
Jane
John
Posted - 15 August 2008 : 09:11:15 Hi jane whilst it is the case that the OR can impose this rule it would not normally be considered unless the mortgage payments are very high. I would say that yours are no more than average and so despite the fact that you probably could rent for less (I think this is the case for most home owners today), I'm sure bringing the rule into force would not be considered in your case.
