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cherrytree123

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About cherrytree123

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  1. theoldrouge Yes I looked into equity release, but I didn't qualify for it. I contacted a number of brokers, the most they could offer me was £70,000, which still left a shortfall. I have had a recent valuation, but a shortfall would still exist. Yes I would qualify if I was to pay a lump sum, but I am not in a postion to pay a lump sum.
  2. Thank you, I feel slightly less panic stricken now. Hopefully I will find a buyer and things will progress smoothly. I will keep you up to date with future proceedings . It looks as if I might need some help with the N244 Form when the time comes. I understand that this form has to be handed in to the court 2 weeks before the hearing. Thank you once again or your invaluable help.
  3. Hi Ellenn Thank you for replying. Not yet. I spoke to Acenden on Friday 21/8 and they said they would commence repossession proceedings the following Friday 28/8 if there is no buyer in the pipeline/or I was unable to pay the outstanding balance. Last Feb I did a financial statement with them over the phone (they dont use emails) and that expires on Sept 1st.
  4. Hi unclebulgaria67 Because of my age my options are very limited, I am in my sixties and my partner is in his seventies. As far as I can see selling seems to be the only option available.
  5. Bassaz Yes it was an endowment mortgage and I was aware of the shortfall having received many warning letters. It was a remortgage I had taken 7 years earlier thats why the figure is so high. I did have an insurance policy in place, a big shortfall on it and i ended up cashing it in. I am owing £121.000. My property is worth 300,00 so I have a lot of equity in it. This has come completely out of the blue. Last Feb I did a financial statement with them which expires the first of September. In their confirmation letter they state "please call us once the above arrangement has ended as we will not be able to move you on to any other arrangement solution until we have reassessed your financial situation.". No hint of repossession before now.
  6. Hello I would be grateful for some advice. I spoke to my mortgage lender this morning and if I dont find a buyer or settle my mortgage debt they will commence repossession proceedings in 7 days time. My mortgage with Acenden ended last September. I was unable to repay it, so I put the flat on the market, found a buyer very quickly but unfortunately just before exchange of contracts my partner had a stroke, forcing me to stop the sale. Some time later I put my property back on the market again found a buyer very quickly, but she pulled out just before we exchanged. That was a couple of weeks ago. If I ended up in court would I have a strong chance of overturning the eviction. My property is back on the market. I am still continuing to pay my mortgage, having never missed a payment.
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