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Norfolkboy

Mortgage - should we hand the keys back to platform home loans?

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Hi everyone,

My wife and I separated last year.

 

We have a mortgage in joint names for a property that neither of us now live in, with Platform Home Loans.

 

The property is empty.

 

Because we both now live completely separate lives in new accommodation (rented) neither of us can afford to pay the mortgage in full.

 

We don't want to keep the house, we just want rid.

 

The house has been up for sale since early Dec 2012.

 

We did get into some hefty arrears before we split, and Platform have a suspended court order over the house.

 

Platform are threatening to activate the court order and repossess the house even though they have proof that it's on the market.

 

One of the options we have considered is handing the keys back to Platform so that they have control of the house.

 

Is this a good option?

 

What other options might be available at this point?

 

In some respects neither of us are bothered about repossession, but the costs look horrific. Grateful for any advice.

 

Many thanks,

 

Norfolkboy

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You can be certain that they will sell it quick and come back you for the shortfall.

 

You will probably do better if you reduce the price and sell it on your own terms.


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Frankly, it doesn't make a lit of sense for neither of you to live in it. One of you could be using it and apply the rent money to the mortgage.


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dont forget PENALTY charges and reclaiming?

 

what about PPI too?

 

platform homes rings a bell here.

 

dx


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