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grantspants
Junior Member
United Kingdom
297 Posts |
 Posted - 28 August 2008 : 10:05:01
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Hi, was wondering if any one of you lovely people could help me out with a little advice....
I'm currently paying £992 on mortgage and my home is now well into negative equity. My plan is to rent a house, and declare the shortfall on my SOA and the hand the keys back. All this should happen in October probably.
I'm looking at a house to rent at £800 per month, its actually a much nicer house than we currently live in. So that will save £192 on my I & E when I do the final one.
Will the OR be ok with this rental figure, bearing in mind it's less than I currently pay in mortgage? My wife had basically nothing to do with my debt situation as I had the vast majority of it when we met, so I don't want her to pay for my past by making her live somewhere she won't be happy and risking our marriage.
Any advice appreciated as we're both a bit stressed about this right now.
Many thanks |
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abr
Junior Member
202 Posts |
Posted - 28 August 2008 : 10:57:24
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| i dont know if this will help, but my mortgage was 1000 a month and my rent is 970 a month and the OR or my trustee never said anything to me, but me being me thought i had better explain why i picked a house that seemed high in rent and all he said was, thats fine we have no problem with that |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 28 August 2008 : 14:06:27
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Hi Grantspants,
As long as you are bound by an AST, there's nothing the OR can do about it.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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grantspants
Junior Member
United Kingdom
297 Posts |
Posted - 28 August 2008 : 14:28:45
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| Hi, thanks for the replies folks. Whats an AST Julian? |
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grantspants
Junior Member
United Kingdom
297 Posts |
Posted - 28 August 2008 : 14:30:22
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Oh one more....
If I have a 6 month lease does that mean the OR can ask me to leave the property when the lease is up? I intend to keep renting the same property for around 3 years I think.
;) |
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JulianDonnelly
Junior Member
United Kingdom
325 Posts |
Posted - 28 August 2008 : 14:33:24
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Hi Grantspants,
As AST is an "Assured Shorthold Tennancy" or tennancy agreement.
Julian Donnelly
Spokesperson for www.Bankruptcyhelp.org.uk
Don't forget the helpline on 0800 078 9367 |
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Topic |
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Rented house question
