B
betterdays
Guest
Hello,
I would really appreciate some advice from anyone in the know or who has been through this.
We cannot afford to pay our mortgage. Unlike may unfortunate people, we do have work but we are not earning near enough to pay for the mortgage and never will. No matter what arrangement the bank agrees with us we simply will never be able to pay the full mortgage amount. We have engaged with the bank and are currently on a reduced payment. We cannot extend the mortgage as it is a 40 year mortgage.
We are due back to the bank after Christmas. We do not see the point in delaying the inevitable any longer so we want to explore (1) voluntary surrender or (2) renegotiating mortgage terms etc - dont know if the bank will do this.
What would anyone advise in these circumstances??
Does anyone know of a solicitor (experienced in dealing with the banks) who could negotiate/deal with the bank on our behalf?/advise us?
Many thanks
I would really appreciate some advice from anyone in the know or who has been through this.
We cannot afford to pay our mortgage. Unlike may unfortunate people, we do have work but we are not earning near enough to pay for the mortgage and never will. No matter what arrangement the bank agrees with us we simply will never be able to pay the full mortgage amount. We have engaged with the bank and are currently on a reduced payment. We cannot extend the mortgage as it is a 40 year mortgage.
We are due back to the bank after Christmas. We do not see the point in delaying the inevitable any longer so we want to explore (1) voluntary surrender or (2) renegotiating mortgage terms etc - dont know if the bank will do this.
What would anyone advise in these circumstances??
Does anyone know of a solicitor (experienced in dealing with the banks) who could negotiate/deal with the bank on our behalf?/advise us?
Many thanks