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T O P I C R E V I E W
Maz
Posted - 22 February 2009 : 14:21:57 Hi, we have included the potential shortfall in our property in our BR. Can we sell our house or do we have to let it be repossessed and then the lender (2nd charge) sell it. We didn't buy the BI in the property. thanks.
2 L A T E S T R E P L I E S (Newest First)
Maz
Posted - 22 February 2009 : 15:54:06 Hi
Ok. We owe £290,000 to Northern Rock which we are able to pay. The second charge is £100,000 to Barclaycard which we can't pay. Will they repossess us even though they won't get any money and will have to pay the court costs. Thanks.
John
Posted - 22 February 2009 : 15:45:08 Hi
as the BI vests in the OR now that you are BR then you are not in a position to sell the property.
