hi i was made bankrupt in july 03 the house is up for sale for 400k we have vaules 310k-350k.we are paying £1300mth mortgage and got a mortgage offer for 300k but was refused by the trustee, so we want to hand the keys back to the building society as we want to move on from this and feel that this could last a few more years waiting for the trustee to get the offer that they want and with the house market being the way it is at the moment we cant't see them getting it. They have only had two viewing in the last 24 months. How can we get out of this so, that we can pay money for a house that is ours, instead of renting the trustees property. Obviously we don't want to hand the keys back to the building society as it would be like a repossesion and would not be good for us later when purchasing another property, but we feel that we have had enough and they are not moving on with it.
Welcome to the forum Gt4, I don't know much about handing the keys back, we are hoping to keep ours as in neg equity and a friend will purchase the BI whilst we are BR. I am sure an expert will be along shortly to give advice.
Hi Gt4 you need to be aware of all options regarding your property from what is a pre Enterprise Act case and often this requires negotiation between the trustee and a professional. I would speak directly to a specialist and i know Brett England (an expert on this forum under "Helpful Advice") is well versed in this type of case. He can be contacted via his website which is noted on all of his posts. Good Luck
we feel that we have had enough
Posted - 27 July 2008 : 14:04:48
