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Uk mortgage now living in Australia


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We moved to Australia over 5 years ago from northern Ireland in march 2007. We tried to sell our house before leaving but the solicitor we used to buy the house with in 2002 made a mistake which was only discovered when we were selling. This was eventually rectified in November 2008 but by that time the housing market had crashed and we were unable to sell even at a vastly reduced asking price. We rented the house out and have had a couple of tenants who we have had to threaten legal action against to get them out because they didn't pay the rent. The latest have moved out last weekend leaving the house trashed and filthy and over £1000 behind in their payments. We cannot keep paying this mortgage, we just can't afford it. It is a very stressful situation and both my wife and I have suffered health wise because of it. All I want to do is hand the keys back to the bank, I do not want this house, we have tried everything to try and keep going and renting it, putting it on the market etc but there comes a time when enough is enough. We even tried taking our solicitor to court over the mistake to try and get back the money we had lost but were told that the law would not recognize the loss as the solicitors fault as it was the housing crash that caused our loss not them.

 

We have no other Uk debts and I am a very honest person but I cannot see any other way out of this situation.

 

Can I hand the keys back? Can debt collectors chase me in Australia? Any advice would be greatly appreciated.

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If you hand the keys back to the mortgage company they will then sell the house and you would then be liable for any shortfall of the mortgage and their legal/administration fees which they would then have to try an pursue.

 

Are the mortgage company aware that you are in Oz & do you have property/assets there?

Anthrax alert at debt collectors caused by box of doughnuts

 

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If you hand the keys back to the mortgage company they will then sell the house and you would then be liable for any shortfall of the mortgage and their legal/administration fees which they would then have to try an pursue.

 

Are the mortgage company aware that you are in Oz & do you have property/assets there?

 

No the mortgage company aren't aware, we have bought a house in Australia

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They will have to get a CCJ in order to take any enforcement for a shortfall which they won't be able to do as you are not a UK resident so they could attempt to try and get a judgment in Oz if they can contact you. Even then they would find it extremely difficult see; http://www.consumeractiongroup.co.uk/forum/showthread.php?304615-It-is-now-apparent-that-it-will-be-practically-impossible-to-enforce-a-UK-debt-in-Oz

Anthrax alert at debt collectors caused by box of doughnuts

 

Make sure you do not post anything which identifies you. Although we can remove certain things from the site unless it's done in a timely manner everything you post will appear in Google cache & we do not have any control over that.

 

Vir prudens non contra ventum mingit

 

[sIGPIC][/sIGPIC]

17 Port & Maritime Regiment RCT

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