OK, so I have a question that I can not seem to find any information on online.
We have recently negotiated an assisted voluntary sale option with a complete write off on the shortfall, we have not signed with the solicitors yet, but will be doing so in the coming weeks, but before we do this I want to know what happens after...
Current situation:
Mortgage: 300k
Arrears: 23k
House Valued: 200k
With securing the write down it means we do not have to go insolvent, which I thought was a good option, but with the assisted voluntary sale option, will I ever get a mortgage again?
If I went insolvent, I believe there is a 5 year period where I could not apply, but officially is there a period tied to the AVS option with the write down?
Our plan is to save as much as possible for the next 15-20 months, trying to get a deposit on a future mortgage, but am I wasting my time doing this, or is it at the banks discretion?
any help or advice would be amazing
Cheers
We have recently negotiated an assisted voluntary sale option with a complete write off on the shortfall, we have not signed with the solicitors yet, but will be doing so in the coming weeks, but before we do this I want to know what happens after...
Current situation:
Mortgage: 300k
Arrears: 23k
House Valued: 200k
With securing the write down it means we do not have to go insolvent, which I thought was a good option, but with the assisted voluntary sale option, will I ever get a mortgage again?
If I went insolvent, I believe there is a 5 year period where I could not apply, but officially is there a period tied to the AVS option with the write down?
Our plan is to save as much as possible for the next 15-20 months, trying to get a deposit on a future mortgage, but am I wasting my time doing this, or is it at the banks discretion?
any help or advice would be amazing
Cheers