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T O P I C R E V I E W
taffzaq1
Posted - 16 January 2009 : 15:04:49 will an or insist on me selling house as i could rent cheaper, althougth the house is in neg equity
2 L A T E S T R E P L I E S (Newest First)
JulianDonnelly
Posted - 16 January 2009 : 15:11:54 Hi Taffzaq1 and welcome to the forum.
Secured lending is exempt from BR and so the OR cannot insist you sell. They will only go for a forced sale if there were a reasonable amount of equity. In fact, even if you were in a rental for £3000 pcm, they wouldn't like it but couldn't make you give it up for a cheaper rental.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
John
Posted - 16 January 2009 : 15:10:22 Hi
it depends on the difference between what you are paying in monthly mortgage payments and what you could realistically rent for.
