Sell myself or let bank

[Didgeridoo]

Hi
With kbc and we have agreed that mortgage arrangement on btl is unsustainable. I have been paying less than interest only for over a year and both me and partner on social welfare .i got the letter asking to sell or surrender today . The house is at least 100k in NE. I'm quite happy to let it go and hopefully do a deal on the remaining amount . Kbc said they won't be tiring me in to a long term arrangement on the balance and will take into account my capacity to pay .
Firstly I bought alone so it is in my name only . My partner has savings . Will they need to know his savings before they work out a deal on the outstanding balance ?
Secondly and more importantly should I just let them sell it or should I sell it myself? I'm more inclined to give it to them as I just want to wash my hands of it but I want to make the right decision .
Any advice greatly appreciated .

 

[44brendan]

His savings or financial position are nothing to do with them and they are not entiltled to any information on or from him as he is not a counterparty to the loan. Realistically as you are on SW and they are likely to write off the balance of the loan it is not a major issue whether you or the bank sell the property. However you should try to make an agreement with them that you will co-operate in any re-posession proceedings, provided that they agree not to pursue you for the balance of loan due.

 

[Didgeridoo]

Re-possession proceedings???
44brendan what's that?
Thanks

 

[Gerry Canning]

Re-possession proceedings???
44brendan what's that?
Thanks

Didgeridoo.
We can play with words but do not think this is in real terms other than a re-possession by KBC.
I would be inclined to help KBC in any way you can , but get SOME WRITTEN assurance that you will not be hounded for shortfall into the next century .

Then get on with your life ,without that overhang,
Iwish you well.