A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Mon/Fri 9am-6pm       Sat/Sun 2pm-6pm
Call for FREE expert advice & service info

What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.

Voluntary Repossession

  • redroxy82
  • redroxy82's Avatar Posted by
  • Junior Member
  • Junior Member
25 Jul 12 #345267 by redroxy82
Topic started by redroxy82
I left the FMH in Nov 11 due to violence and took my 2 children (on advice of the police)
STBX then changed the locks and I''ve been back once since then to collect belongings in Mar 12 (what was left of them!!)
I am now renting privately for myself and the children and get CSA from STBX. He has however now moved back with parents rent free and has not paid mortgage for months, we now owe £5k.
We cannot rent it out as I will lose housing benefit which I rely on.
He now wants to do a voluntary repossession as house has been on the market since Jan 12 and no sign of a buyer (agent has told me he didn''t leave it in the best condition but I cannot get in there and he says it''s fine!!)
I really don''t know what to do??

  • LittleMrMike
  • LittleMrMike's Avatar
  • Platinum Member
  • Platinum Member
25 Jul 12 #345274 by LittleMrMike
Reply from LittleMrMike
As a personal view, you can sell most houses - if the price is right.
If the house is repossessed, you both will incur fees/penalties/legal costs/ administrative charges, and the house will be sold by the lender and all they will be concerned about is getting their money back.

Selling at what may seem to be an undervalue may be preferable to allow repossession and its possible consequences.

I''d speak to your agent.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11