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Hayley-Tom

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Everything posted by Hayley-Tom

  1. Thank You for your replies, I have some answers to some of the questions you've asked. 1. Natwest is the lender, Shoosmiths are the solicitors working on there behalf in regards to arrears. 2. I'm not sure how long is left on the Mortgage, around 30-40 years or so I think. 3. I believe the reason the repayments are so low is because when my partner bought it he paid in over £80,000 as the deposit. He then had the mortgage to cover the rest and a couple of years later he re-mortgaged. There is still roughly £83,000 left on the mortgage and nearly £4000 in arrears. 4. The house is a three bedroom property, but is reasonably small, I believe that due to a number of factors, including its location, state of décor, facility's etc is doesn't hold a lot of equity. Last December is was valued at roughly £95,000 providing garden work and interior work be done on it. My partner has three judgements against the house totalling around another £4000. 5. We understand that because my partners ex partner is on the deeds she is entitled to half by law. (He is constantly kicking himself for this) He was young and nieve when he bought the property and thought he'd have a better chance of securing a mortgage if he had someone else on the deeds. We aren't too concerned about this at the moment. 6. We have tried countless times trying to severe the connection with her and the deeds but she is having none of it. At first she said if we paid her £10,000 she would take her name off the deeds and Tom would own the house souly. But she then changed her mind and said she wanted £20,000. Again she soon changed her mind about that too which is when she wanted to push for a sale to gain half of the profits. What she doesn't realise is that there will be very little money left, after paying the arrears and the judgement against the house they would be lucky to walk away with £1000 each. 7. If we could rent a property we would obviously considerer this, however, with the poor credit history it is unlikely we would be accepted for privet renting. Our local council is chocka-block and we'd be looking at a 3-5 year wait to get a council house (I was told this when I called today, the best they could do would be temp accommodation in hostles, hotels etc. which might also mean splitting up the children) 8. Yes he does have to pay child maintenance to his two older children who live with his ex partner, does this make a difference at all? 9. We would really like to keep the house and we'll do all we can to hold off the court action, we were just wondering what options we could suggest to the lender to help us. We have found out we can not capitalise the arrears as it is too large a sum and it doesnt look like we can extend the mortgage term with out Toms ex partners consent. We are very stuck.
  2. Hello, I have never used anything like this before but me and my partner are desperate for some advice. On Friday we received a letter from the bank saying they are taking our case to court to start repossession proceeding due to mortgage arrears. The case is to be heard on November 5th 2014 and we are beside ourselves with worry. Here's the story: My partner took out a mortgage to buy the property we are both living in back in 2005 with his ex parter. They are both on the deeds although she paid nothing towards the deposit (that is another matter) They broke up in 2010 and she moved out with their two children to live with a new partner. Tom (my partner, home-owner) could only afford to stay in the house for a couple of months but as he was living alone and had just lost his job, he started to fall into arrears with the mortgage. His ex partner refused to pay any of the mortgage payments but insisted he still the property. She claimed she was entitled to half of the profits from the sale of the house and that is all she wanted. It was explained to her if the payments weren't made the house would be repossessed any way and she wouldn't have a penny. She still refused to pay my partner moved out and his father moved in as a paying tenant. He lived here for just over a year and Tom was finally able to start repaying the mortgage again. However as he still had no job he couldn't find the money to repay the arrears, so they along with interest kept on building. In 2013 Tom and I had a son together and we considered moving in to this place. At the time is wasn't realistic as he was still out of work and I was technically a single mum on benefits as Tom didn't live with me (he lived with his mum). In march 2013 not long after our son was born Toms ex partner informed him she was going to be moving over 100 miles away with his two children. Tom had no choice but to take this matter to court and over a period of 9 month he worked up a solicitor bill of over £5000. She still refused to repay the mortgage but still insisted that she was entitled to half of the profits if it sold. Again she tried to get her solicitor to make Tom sell the house. This was the last thing Tom wanted to do as the deposit he used to buy the house was from inheritance his late granddad had left him. We made the tough decision to move in here together in Feb 2014. I sold all of my things from my old house, gave the house back to the council and moved in with Tom, our son Charlie and my two other children from a previous relationship. We had come to an arrangement with the debt solicitors working on behalf of the bank to pay the mortgage payments of £410 and £170 extra per month to clear the arrears to make a total of £580 per month. They would not wavier the interest. Tom was still out of work but we were able to claim tax credits as a couple which we worked out would help to pay the mortgage as I was still out of work myself also. For a couple of months we were comfortably paying the mortgage and the extra amount to clear the arrears. However, in late April an opportunity for Tom to open his own shop came about that sounded too good to turn down. All of the equipment was there, the owner only wanted 1 month up front for the rent and we didn't have to pay any rates for the first year. As it is a butchers shop, stock was on week over week finance basis. This is something Tom had always wanted to do and after many long hours going over all the pros and cons he decided to give it a go. We had both tried for so long to get jobs as employees this seemed the only way to make money. We opened the shop in May 2014. although it is doing well, it still is not turning a profit. Some months we had to use money we didn't have to pay the shop rent or utility bills which set us back again with the mortgage payments. Last month we had lots of extra expenses such as school clothes for my two children, the school lunches money, swimming lessons and guitar lessons to pay for for the start of September. We have now fallen be-hide again. With Christmas just around the corner we have big concerns over how we are going to manage to pay anything. With Tom and I not earning from the shop, I am unable to take a second job due to child care issues and not being able to drive - the only money we have coming in is our tax credits and child benefit. We are literally living day to day as it is. We have no luxuries, we don't drink or smoke, we have cut down our food substantially, we never go out, we never buy new things and the children never get treats or new clothes or shoes. We are in desperate financial strains and this repossession order is the last thing we need. The letter states we now have nearly £4000 worth of arrears and they want it all paid or to come to a reasonable arrangement to re pay it before the court date of November 5th. There is no way we can find that sort of money and we have no one to ask for help. None of our parents have any savings at all, we have nothing we can sell and because we do not claim income support or job seekers allowance we aren't entitled to government help either. Toms ex partner still has nothing to do with us and still refuses to pay anything towards the repayments (she still says she owns half the house though) She did in the end move 100 miles away and so all her debt letters come to our address as they do not have her new one. They have both been sent the letters about the court date, notice of possession order and also a letter from HMRC (I think) about filling out an income/out goings and proposal for repayments but obviously we have hers. We haven't told her about these letters yet or that we have to go to court but even if we did she wouldn't pay a penny as she wants it sold any way. I know that I am classed as an entitled resident as I am Toms partner and we live together and this mine and my children only home therefore I will go to court with him, but what will happen if he's ex doesn't show up? We will be emailing her today to inform her of the actions being taken, but we know she'll want nothing to do with it. Please help us, we have no idea what to do to help us keep our home, we have no where else to go. Is there anything we can do to stand a chance of this not going to court? Or anything we can do to try to keep our home? Tom is intending to talk with the debt solicitors working on behalf of the bank today to try to come to some sort of arrangement but we have no idea what our rights are, what suggestions we should make or anything that might help us. He doesn't have any PPI protection and will not be able to take a repayment holiday. With the amount of CCJS against him he has a terrible credit history and will not under any circumstances be able to get a loan for the money to pay off the arrears. Please help us.
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