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| frosie90 |
Posted - 23 March 2009 : 21:51:10
Hi All,
I moved into new rented accommodation at the weekend after clearing out my mortgaged house. Am waiting my day at court on 7th April. I am intending to tell the court that I no longer want the mortgaged house. I have listed it as secured and the estimated shortfall is listed under unsecured. I have not told NR yet but thought wait for the court? Or shall I ring NR?
I have notified all my utilities but two things I have been worried about.
My home insurance on mortgaged property I have contacted and cancelled the contents as nothing in my house but retained the building insurance. The company said they will do this for 30 days? Once I tell the OR or Northern Rock that don't want the house does my responsibility end?
My rented property is a different borough so I have signed up to pay council tax with them. When I rang my previous borough (B'ham), I said I was voluntarily surrendering my house etc, did not mention BR, they said that they would not detail the house as empty until I get an "exemption" after a letter from NR goes to them? I have never had council tax arrears but am unsure what to do. Prior to my telephone conversation with B'ham they had sent me a bill for 09/10 with first payment due April 1st. Can anyone who has been in same position advise me?
Many thanks. |
| 6 L A T E S T R E P L I E S (Newest First) |
| frosie90 |
Posted - 24 March 2009 : 19:22:57
Oh my gauld!! So not that straightforward then. Thanks Jane. I have put a thread to Zoe so will see what she says. I still have not rung NR but am doing so later this week so it is as close to the BR date of 7th as possible.
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| Jane.l |
Posted - 24 March 2009 : 10:55:16
Just be careful, as this is what happened to me:
Left mortgaged house in April 2007
Told NR that we wanted to hand it back, they would not accept unless we signed that dratted "we are liable for shortfall form" so we had to wait for them to reposses it
Had court date 1 August 2007, NR got a possession order
We went bankrupt August 2007
NR finally changed the locks March 2008
Now, we got a 6 month exemption from council tax as the house was empty but because NR took 13 months to repossess the house, we were billed for the next 7 months! I had to pay and appeal that the house should have had a Class Q exemption, as we were bankrupt, I eventually got my money back  |
| frosie90 |
Posted - 23 March 2009 : 23:03:11
Thanks John, I will do a separate thread to Zoe. Do you think I should hang on before phoning NR and do it just before the 7th and send the keys on the day of phoning? or should I ring them tomorrow and say that is my intention. With the insurance I feel ok paying because as you said in previous post that I can put it in my I&E etc. Probably, though, once I have been on 7th I may feel completely different and want to absolve myself of anything to do with the house. Thanks John. |
| John |
Posted - 23 March 2009 : 22:52:09
Hi
I would return the keys to NR with an accompanying letter sent by registered post and despatched just before the 7th.
Your responsibility (or liability) does not end until the property is sold. The question is who are you responsible to?? As you are the owner then it is to you. If you wished you could cancel the policy and if anything happened the value would reduce but that will have no effect on you personally as far as I can see. So the decision is do you cancel the cover and potentially place the lender in a position whereby the shortfall on sale could be even greater or do you keep the policy on for a while to minimise the risk to the lender.
Your decision.
I have to admit having read the response you have received from the council re council tax of the mortgaged property I'm not sure what to advise as councils are continuously reviewing their internal procedures in these situations.
May I suggest that you start a separate post just on this subject and ask for Zoe (forum expert) to respond by placing her name in the thread title.
Hopefully she will see it as this is very much her area of expertise.
Good Luck
John White
England Jackman & Spacey |
| frosie90 |
Posted - 23 March 2009 : 22:49:11
Thanks Penny. Yes I will ring NR tomorrow and tell them of my intentions. I can make sure someone goes over to my house to check it etc. It is funny cos I thought I would be terrible leaving it on Saturday and thought in my head, "I'll come back tomorrow, and the next day etc .... ". Now I am in my rented accommodation I absolutely love it and it is so neat, small, and tidy, so much so that I do not want to return to my old place. I will go back, though, to take the final stuff to tip etc. Thanks again.
Rosie |
| penny007 |
Posted - 23 March 2009 : 22:41:31
Hi There, We had a house mortgaged thro NR until last year, despite the fact that we hadnt lived in the house for nearly 12mths NR took ages to take the house from us under voluntarily surrender. Therefore I would request the forms and return to them asap.
With regards to building insurance, you are liable until they take the property from you, we are with Directline and there were happy as long as we went to the property every 30 days, bear in mind it may take longer than that to process with NR.
Be sure to get confirmation in writing from NR that they have taken ownership from you.
Council Tax - there should be no charge for upto 6mth period if the property is empty. Anything else I can help with please give me a shout, keep smiling! Penny |
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