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Mr.E.Guest
Junior Member
United Kingdom
121 Posts |
 Posted - 04 February 2009 : 11:54:07
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Hi All,
We are in the process of going BR - should be later this month.
We moved out of our old house back in November and sent the keys back to the mortgage provider in January (registered post).
They have never acknowledged reciept of the keys and today we have had a letter from their solicitor and HMCS notifying us of a
Possession Claim.
The motgage provider actually borded the house up in January!
Couple of questions...
Should the mortgage provider have acknowledged receipt of the keys by now?
Should they have issued volantary repossession paperwork
Do we have to go to the court hearing
How do we contact the court to outline that we have already given the house back
Do we have to pay the £200 (2 people x £100) court fees
Cheers
Tim
What doesn't kill you makes you stronger (I hope ;-) |
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pix1
Average Member
689 Posts |
Posted - 04 February 2009 : 12:21:37
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You still get repossessed if you have handed in the keys. the only difference is you are not supposed to get a ccj if you hand in the keys. as you are going BR you should get the BR order asap and make sure you mention the mortgage as a 1) secured debt (because the house has not been sold yet) and a potential 2) unsecured debt (in case there is going to be a mortgage shortfall when it is sold)on your statement of affairs. Then the OR's office will deal with the whole matter and you won't need to attend the court for the possession hearing.
N.B. MAKE SURE YOU DO NOT SIGN ANY SO CALLED "DEED OF ACKNOWLEDGMENT" OF DEBT TO THE MORTGAGE COMPANY EITHER NOW OR AFTER THE HOUSE IS SOLD.
My wife and I went BR. The house was repossessed and we did get a ccj because we did not hand in the keys but were evicted. We owed £244k at the date of the judgment and now - 7 months later - we owe £258k because interest is still being added and the house has not yet sold. They originally put it on the market for £220k but are now markeing it at £189k! Therefore, we are in for a mortgage shortfall of at least £70k. There is a form j restriction on the property so it is covered by our bankruptcies. |
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Mr.E.Guest
Junior Member
United Kingdom
121 Posts |
Posted - 04 February 2009 : 12:41:41
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Hi PIX
Thanks for this - I knew about the shortfall issue and this is why I refused to sign any VR paperwork - apparentley without a signed VR form the mortgage provided does not acknowledge receipt of the keys and as such continues a possession claim. Catch 22.
All I'm really concerned about is not racking up the £200 court costs.
Cheers
Tim
What doesn't kill you makes you stronger (I hope ;-) |
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Jane.l
Average Member
511 Posts |
Posted - 04 February 2009 : 12:47:19
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I too left my house to be repossessed and then went bankrupt. I don't understand what you mean by "court costs"??
We did not attend the possession hearing, there was no point, it made no difference to us either way and the mortgage company pays any court costs not you.
I also don't understand the comment about getting a CCJ for handing keys back or not? We did not hand keys back and NR was granted the Possession order, this would have happened if we had handed the keys back or not  |
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pix1
Average Member
689 Posts |
Posted - 04 February 2009 : 12:48:29
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Would the £200 matter?
Presumably if you go bankrupt that fee is a drop in the ocean? |
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Mr.E.Guest
Junior Member
United Kingdom
121 Posts |
Posted - 04 February 2009 : 12:53:42
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What I wanted to clarify is if costs such as Court Costs are exempt from BR - I'm aware Student loans and Council Tax arrears aren't .
The morgage provider adds all court costs and solicitors fees to your arrears etc - but the summons we have from the court also clearly states that each of us has a £100 court cost.
Yes £200 is a drop in the ocean if it can be written off with the other debts whan we go BR - however if its one of those debts that is exempt from BR then its a different matter...
Ta
Tim
What doesn't kill you makes you stronger (I hope ;-) |
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Jane.l
Average Member
511 Posts |
Posted - 04 February 2009 : 13:04:13
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| no, all those costs are included in the bankruptcy |
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Nicola.j
Junior Member
United Kingdom
267 Posts |
Posted - 04 February 2009 : 14:13:50
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Hello
Please could you enlighten on what a form J restriction is.
Thanks |
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pix1
Average Member
689 Posts |
Posted - 04 February 2009 : 19:01:15
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Nicola,
A form j restriction is where there is a joint mortgage, e.g. a husband and wife, and the OR slaps a restriction on dealings in the property so that when it is sold the OR must be notified. There is a similar system where there is a single house owner. |
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pix1
Average Member
689 Posts |
Posted - 04 February 2009 : 19:04:53
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Jane.l,
I quite liked Northern Rock!
I had a mortgage on a previous flat with them which got paid off when we moved. Only problem was the new mortgage we took out with Mortgages PLC (!) was a complete disaster and we are getting a nasty mortgage shortfall when they sell our repossessed house we moved into. 70k and counting 1.4k a month until they sell... |
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Repossession hearing
