# Legal costs of voluntary surrender/repossession?



## Lucuma (16 Jan 2014)

Hi all, I've searched the posts on here and in the other parts of the forum and haven't been able to find one about this topic. Just wondering if I voluntarily surrender my house will there still be legal costs for me? 

I have a joint mortgage with an uncooperating ex so it's possible that even if I agree to voluntary surrender, the ex won't so in that case I suppose the bank will take her or both of us to court for repossession. 

My second question then is that in the event of a repossession court case if the bank wins, do I/we have to cover their (the bank's) legal costs?


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## Gerry Canning (16 Jan 2014)

Lucuma; 

Banks normally try to add on all and every cost.Includes repossession if it comes to that.
Your big issue is {an uncooperating ex} . Means you too could be caught for unnecessary costs.
Suggest read other threads on Mortgages/Repo/ Debt etc. You will find good advice that may suit your circumstance and give you a path to take.


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## Lucuma (16 Jan 2014)

Thanks Gerry. I already have a thread in another part of the forum and have received some great advice. 

I'm just purely wondering whether if the bank take us to court for repossession and win, could we have to pay the bank's costs? 

This is one of the factors that would influence whether I would want to let things get to repossession stage or not.


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## Bronte (17 Jan 2014)

Lucuma said:


> Hi all, I've searched the posts on here and in the other parts of the forum and haven't been able to find one about this topic. Just wondering if I voluntarily surrender my house will there still be legal costs for me?


 
Well we most certainly did discuss it, and I can distincly remember advising anyone in your situation to agree with the bank that they will pay the auctioneer and solicitor etc. You need to negotiate this with the bank.


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## Newgirl2014 (19 Jan 2014)

Surely it depends on what You are doing. If you are posting back the keys and doing a bankruptcy then there are just the costs of a bankruptcy. If you are emigrating to Australia how will they find you???? If you are just staying here and renting then you need a plan, but surely posting back your keys is part of a bigger plan in the fist place.


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## Time (19 Jan 2014)

I saw on one letter a cost of €8500 quoted for a non contested repossession.


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## Bronte (20 Jan 2014)

Time said:


> I saw on one letter a cost of €8500 quoted for a non contested repossession.


 
Is this the letter from the bank to the customer about voluntary repossession, any chance you could post it up here for others - without identifying the borrower etc.


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## Lucuma (20 Jan 2014)

Newgirl2014 said:


> Surely it depends on what You are doing. If you are posting back the keys and doing a bankruptcy then there are just the costs of a bankruptcy. If you are emigrating to Australia how will they find you???? If you are just staying here and renting then you need a plan, but surely posting back your keys is part of a bigger plan in the fist place.



i would be in the staying here and renting category. There are multiple options open to me so in terms of my plan, if i knew the cost of repossession through the courts it would help me to decide on which option to go for. i won't be bankrupt, i work and have an income. that's why i'm afraid that if the bank take us to court for repossession (which i might not be able to prevent, if ex doesn't agree to voluntary handover) and if they win, could the bank's legal fees (i.e the cost of their barrister and solicitor for court) be awarded so that i have to pay them? That could be 15 or 20 grand i suppose?


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## 44brendan (20 Jan 2014)

Technically yes! However in your case you would surely be better off advising the Bank that you will be fully co-operative with any re-posession of the property. In such a scenario, while a court case would be necessary, any resultant costs for the Bank would be only chargeable on your husband as you will be voluntarily surrendering your interest in the property.


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## Lucuma (20 Jan 2014)

44brendan said:


> Technically yes! However in your case you would surely be better off advising the Bank that you will be fully co-operative with any re-posession of the property. In such a scenario, while a court case would be necessary, any resultant costs for the Bank would be only chargeable on your husband as you will be voluntarily surrendering your interest in the property.



If i agree to vol surrender and my ex girlfriend does not and it goes to court and the bank win and they try to get the bank's court costs off her, it won't work because she doesn't have any savings or income. She is unemployed. 

So i'd imagine they'd still prefer to chase me for the costs, even though i agreed to voluntary surrender.


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## Time (20 Jan 2014)

They would just add the costs to the shortfall.


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## Bronte (21 Jan 2014)

Time said:


> They would just add the costs to the shortfall.


 
Are you sure of that, they might not.  If she hires the accountant and solicitor then she will be liable for those costs.  And she won't be getting her hands on any of the sale proceeds.    

Lucuma here's the thread we discussed this on before:

http://www.askaboutmoney.com/showthread.php?t=178916


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