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Halifax Voluntary Repossesions

from Mel Trudgett (melanie.trudgett@ntlworld.com)
I have had a mortgage with the Halifax for my property in Manchester for 9 years. However, for the last 6 years the property had been empty as I had moved to Dorset. I had initially put the property on the market for sale, but the area started to go downhill - eventually with nobody wanting to buy properties except landlords, at really rock bottom prices. As I had an interest only mortgage, I still owed approx £26k and didn't want to sell for £8k-£10 as it would leave a big debt for me.

I tried renting it out, but the Halifax wasn't really happy with that option and wanted to change the mortgage to a commercial one. To cut a very long story short, the property started to get vandelised and I felt I could no longer look after it as I had used up all my favours from family and friends! The council started to send notices of compulsary work through to me, which meant spending even more money on the property. So I decided to hand the property back to the Halifax, as I couldn't see the situation improving at all and as I am now a single parent, I can't afford to keep spending half of my wages on an empty property.

As yet, I've heard nothing from them about what happens next. If anyone can help with that, I would appreciate any info. Rather than the nightmare ending, I feel like it's just beginning!

Thanks, Mel

(posted 7647 days ago)

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