Mortgage mess - repossession
Mortgage mess - repossession
I'm due in Court in April. I don't have much idea what to do and I would
be very grateful if someone can help by giving me some general advice.
I've seen a solicitor but there are some things I don't understand.
Here are all the facts.
My then boyfriend and I brought a flat in both our names. It cost about
£50,000 and we put down a deposit of £5,000. It was an endowment
mortgage. The repayments were about £300 a month.
I lived in it alone for a year before my former boyfriend moved in, then
we lived together in the flat for the next 6 years. I left the flat about
a year and 4 months ago because of domestic violence which the police are
aware of.
For about the last year neither of us has paid the mortgage. I'm
unemployed and receiving benefit. The flat has been empty for the last
year. Now the lender wants to repossess the flat and sell it. An estate
agent says the flat might sell for £45,000 and the lender says we owe
£50,000 even though we have paid £5,000 deposit and about 7 years
repayments at £300 a month which is in total about £30,000. A friend says
it might be because my ex and I have an endowment mortgage instead of a
normal repayment mortgage.
I am very broke and receiving medical treatment from my doctor because of
the stress and worry.
1 What I need to know is what happens when we go to Court
with regard to the repossession?
2 Do I get a chance to say my side of things or does my
solicitor speak on my behalf?
3 What happens if my ex declares himself bankrupt,
unemployed or even decides to leaves the country? Does that
leave me with the debt on my own?
4 How much am I looking at if the lender claims the Court costs
and estate agents costs for putting the flat on the market
again? How much realistically would the Court expect
repayment of if I do have to pay the debt back and over how
much period of time?
5 Could we put it to them that I have a buyer waiting, that I
can't afford to pay the solicitors fees and estate agents
fees?
6 Have I a right to get any legal claim against my ex for the
physical and mental abuse that he put me through because of
this situation?
7 Can I claim any costs, legal expenses and debt that I find
myself in from my ex?
8 What is my position in the future if the repossession does go
ahead?