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sinking fast
Starting Member
3 Posts |
 Posted - 22 April 2010 : 20:03:26
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I wonder if someone could answer my query please?
If I am made redundant, and petition my BR (not partners), and we come to an agreement with our mortgage company to take a holiday break for 3 months or until I source alternative employment whichever comes 1st, could the OR force us to sell the property on the basis that we can no longer afford the mortgage commitments?
We are in negative equity to the tune of 43k, so do realise that if I avoid redundancy it may be possible to buy the beneficial interest.
Your help is appreciated. |
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Housing
Senior Member
United Kingdom
1399 Posts |
Posted - 22 April 2010 : 20:56:50
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Hi,
Are you facing redundancy soon? If so, are you in line for a settlement and lump sum?
I suggest you look at that aspect first. You do not want to lose that in BR.
I think you need some advice on your best option - it may be BR - it may not be... Try the financial experts on the side of the page - Reviva UK and also Jones Giles - they will talk to you initially and make some suggestions and set a plan for you.
Good luck, Richard
"There are no problems - only solutions" |
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sinking fast
Starting Member
3 Posts |
Posted - 22 April 2010 : 22:30:39
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Housing,
No their as been no indication that my job is under threat - YET!
I am thinking ahead hypothetically, and wanting to see where I would stand if I went BR, and the OR's stance regarding the affordability of a mortgage, albeit for the short term. |
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Redundancy & BR?
