Selling house whils...
 
Notifications
Clear all

Selling house whilst in Trust Deed

39 Posts
8 Users
0 Reactions
7,083 Views
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Thanks Shona, I so hope that they will be reasonable but something tells me it wont be quite as straightforward as that going on past history how they have been previously with us. At least we know from a legal standpoint my husband can still walk away from teh house and not end up in "alot of trouble" as they so kindly told us.


   
ReplyQuote
(@porcupine)
Estimable Member
Joined: 15 years ago
Posts: 206
 

Gillian......

Who told you about getting a higher priority for having a damp house, I have to advise you that there is no such thing. I have worked as a Housing Officer for over a decade and have never heard of this.

Do Environmental Health know you are the owner......?


   
ReplyQuote
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Hi Porcupine,

I first seen it on shelter scotlands website here, where it states by law priority housing must be given to priority as it is unsuitable due to rising damp:

(link removed - please Google "Shelter Housing Allocation Policies" if you wish to refer to this link).

I then called south lanarkshire council who said if the house does have rising damp or a bad damp problem then we would be put in the "other categories" list on their allocation policy and we would be treated the same as the urgent priority list, even although my husband has a mortgage on the property. We thought it would be best to ask environmental health to have a look at it for us to conclude that we do have a bad damp problem to back up our claims for the hosuing forms. The environmental health have said it's not a problem to look at a private home.

Do you work in housing in south lanarkshire? have I been told wrongly?


   
ReplyQuote
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Sorry you have to flick up the page a tiny bit on that link to see where it states about damp.


   
ReplyQuote
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Just called the housing department again and got a fantastic lady on the phone. We have an app on Thurs morning to go in and see them. Basically she said that it would be better for us to go on the homeless list for housing as we would get housed again within 6mths (or at least that's what they aim for). She said that even though we would be voluntarily surrendering the home it's still counted as homeless given the circumstances and we would be able to continue living here right up until they offered us a council house. After we see the housing officer on Thurs they will make an appointment for us to see one of their money matters team who is going to liase with northern Rock on our behalf to ensure we can afford to stay here whilst they find us a house and they will also speak to the trustee to ensure they will keep the trust deed on as they think they are in the wrong discharging my husband if he goes ahead and surrenders the house. They said if worst came to worst then they could take him through sequestration if need be but they hope it wont come to that. She explained that repossesion has no outward signs and that nobody but us needs to know about it (as Shona also told me).

I feel alot happier noe knowing that we can stay here whilst they find us a suitable home as I really didn't think it could happen as quickly as 6mths and I also thought that as we were voluntarily surrendering the house we wouldn't be able to go on the homeless list (I thought you had to be literally homeless to do that). Feel much more positive now.

Not going to contact the trustee or NR by ourselves again, think we will leave it up to money matters to speak with both of them on our behalf and hope that they have more clout with them than we do although I have to say NR have been very reasonable with us so far, it's just the trustee we have difficulty with.

Will let you all know how we get on. Thanks to all the trustees for the wonderful advice, this board is invaluable.


   
ReplyQuote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Hello gillianr2.

I'm really pleased that you have found some help and that they're able to see you so soon. I'm sure it will be very helpful to have someone "fighting your corner" for you on this matter.

Please let us know how everything goes.

p.s. I hope you don't mind that I've removed the link you posted previously. For a few reasons we ask that links aren't added by visitors to the forum... but I've replaced it with a way for other visitors to find the useful page that you were pointing out.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Oh sorry about that, I didn't realise.

Thanks so much for the help td assistant. As you say having someone to fight our corner will really help.


   
ReplyQuote
(@porcupine)
Estimable Member
Joined: 15 years ago
Posts: 206
 

Gillian,

Glad it seems to have worked out for you or at least looking brighter on the horizon, I myself would have advised you to take the homeless route although I have to say 6 months is a hellish long, the target set by the Scottish Govt is 6 weeks from being assessed as Homeless to being rehoused (to be fair it's a miracle if you hit that target...lol)..

I am still dubious regarding the dampness as I've never heard of that before with the exception of people within private rented sector...


   
ReplyQuote
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Thanks for that Porcupine, your post made me call again so now im alot happier! She said they aim to within 6mths in my area as I live in a village and there are very few houses unless we were willing to broaden the area but we can't for a few reasons so she said that leaving it in the one area is fine but it could take up to 6mths hopefully not though!! I was completely unaware that we could go on to the homeless list if we voluntairly surrendered the house. I always thought you had to be literally homeless to go on that list. The way she explained it was that we could go on the homeless list now and once they find us a house then we could hand the keys back to NR after we move everything out of the house so at no point we are left without a home as long as we keep paying the agreed payments to NR and they dont reposses us in the mean time. She said if we go to money matters then they should be able to contact NR and agree payments we can afford until the rehouse us. Does that sound correct to you?


   
ReplyQuote
(@sistersbrother)
New Member
Joined: 14 years ago
Posts: 1
 

Hi

I am helping my sister in her unfortunate hour of need.

Background.
She and her husband ran up debt, some known to her, some unknown, on a misguided scheme to own property in France. He disappeared and then reappeared with a boyfriend, so they are just a little bit estranged now and heading for divorce.
We managed to get things sorted out, even the 35 credit cards she didn't know about which had unsigned 'Partner cards'.

She is now alone, 6 months into protected TD status (he is not, despite professional advice), whereby all assets will be realised as soon as possible (children leaving home this summer = house sale is the last thing). The total debt is approx ยฃ120k, for which she is liable for around ยฃ45k (the credit card liability having been sorted out). Her total assets will wipe out around ยฃ20k of that, and she is paying her fixed amount per month regular as clockwork.

Now the sticky bit.

The last property in France is now under offer, but it appears that it will not cover the French bank debt plus costs/tax/fees etc. The Trustee therefore 'has no interest', and my sister is (I understand) no longer has authority over that asset in any way.

What happens when the French bank now (as they logically will) become a creditor, and attempts to recoup their losses by seizing and selling the property themselves?

1a) before the end of the 3 year period
1b) after the end of the 3 year period
2a)and 2b) can it come back to bite her in France?

Many thanks for a rather wonderful forum; most stuff I could figure out for her... this one escapes me a little but may well be pertinent for others who joined in the property abroad adventure.


   
ReplyQuote
TDA (Debt Adviser)
(@tda-debt-adviser)
Illustrious Member
Joined: 16 years ago
Posts: 13594
 

Welcome to the trust deed forum SistersBrother.

It sounds like you have been very thoughtful and thorough in terms of helping your sister with the situation, the debts, and the trust deed.

The question regarding the potential shortfall debt in France raises a number of issues. However, I'm sure Shona, Kevin and Mark will have dealt with such situations in the past given the increasing levels of foreign and second home ownership in recent times.

Hopefully one of them will check into the forum soon and provide you with some feedback...

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds


   
ReplyQuote
(@upstream)
Reputable Member
Joined: 14 years ago
Posts: 251
 

I hope the voluntary repossession of the house goes smoothly for you Gillianr2. I decided to do the same at the start of my TD a year ago as it was in negative equity by quite a bit and there was also a crippling loan secured on it that couldn't be included in the trust deed while I still owned it.

I went through the process of voluntarily giving the house up but as I had already signed the TD, the bank couldn't take the house as it had to be signed off by the trustee, however, they were unwilling to do so - for what reason I don't know - all they would say was it was their policy (even though they advised me this would be the best course of action). It then had to go through a formal repossession and it has taken over 12 months. Only this week I got a call from the bank's solicitors to say they have received notice to eject now after it went to court back in August! All the while, I am still responsible for the property. I had moved into rented property at the start of the TD as I thought it would have moved so much more quickly than this. The only plus to all of this is that my trustee says that any shortfall and the loan secured on the house will be part of the trust deed and was calculated into it at the start.

I hope your situation with your trustee improves, you can get shot of the house, and get a new mould-free one!

Glad that's over with....


   
ReplyQuote
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Thanks so much upstream!

I was completely unaware that the trustee could actually put a stop to a voluntary repossesion. Im worried about that now as my husbands trustee is awful and has already said they would not be agreeable to letting us sell the house so highly unlikely they would "allow" us to voluntarily hand the keys back in to the mortgage provider. I was under the impression that we would be able to hand the keys in to the mortgage provider and they would take the house back if you know what I mean. Does this mean we need the trustees permission to move out? if so we wont be able to and will be stuck here.

We went to the homeless appointment this morning and filled out the housing application which went well. It was decided between us that we would just go on the normal housing list as with the homeless list we would have to widen the area we would move to and the areas around here arent so goo and the kids have just started school and nursery so we dont want to change things for them either if possible. We have been advised that there isn't a high demand in our area ao the wait shouldn't be too long anyway. We have also made an app with money matters but they cant see us until 5th Jan. We then went to CAB but the lady wasn't much use to us, as nice as she was, the only thing she could tell us was we should write to the trustee and ask for them to discharge us from the trust deed so he can bankrupt himslef but I didn't think you could do that? As far as I was aware the trustee had to discharge you not the other way around.

Cananyone shed any light on this? Also can the trustee stop us from voluntarily surrendering the property as they have already stated they would not be agreeable to us getting rid of the house.


   
ReplyQuote
(@trustdeed1)
Reputable Member
Joined: 15 years ago
Posts: 280
Topic starter  

Meant to mention that my husband has emailed the company that deals with his trust deed today to ask for clarification on what they would do if the house were voluntarily repossesed or if Nram sought repossesion. He asked if the shortfall would go in to his trust deed or if they would seek sequestration. He didn't mention discharge as he hoped that wouldn't be waht they would suggest. Im sure she will send a reply in the post as she doesn't like emailing information (understandable), just hope she actually replies without the usual 2wks of prompts from us for an answer on anything he asked for before!


   
ReplyQuote
Mark McFadyen
(@mark-mcfadyen)
Famed Member
Joined: 16 years ago
Posts: 4798
 

Hi SistersBrother

If the property is sold and there is a shortfall, the shortfall will be a claim in the Trust Deed. The fact that it is in France makes no difference.

Mark

Mark is not posting regularly in the Trust-deed.co.uk forum.


   
ReplyQuote
Page 2 / 3
Share: