gettin a house

[poochie]

my husband and i are both in a trust deed which is due to finish in next month or two.
we have a mortgage and have never missed a payment on it, and we also have a secured loan with welcome which is 2nd charge on property.
we are at moment tryin to sort problem with welcoem regading mis-sold ppi and gettin nowhere but we are looking for help on another issue.

we would like to sell this house, because my husbands firm is doin redundancies and he fears he may be next in the next 6mth or so so we want to get out before we have reposession or worse on our hands.
we would like to sell this house and clear the mortgage and welcome.
we are tryin to get a house from council so we can put this house on the market, but no housin associations will help us unless we sell our house first which we cant do because we may end up homeless if we have to be out by certain date and we dont have a house to move into.
can anyone advise us of how we can get a house form council or housin association in scotland without makin ourselves homeless in the process....thanks

[Caspar]

Re: gettin a house

i don't kow whether or not you'd qualify for what I did. We had a lot of debt and were possibly facing bankruptcy (so far avoided). We did not want to lose our house and approached reputable (ours was recommended by the council) Housing Associations under their "Mortgage Rescue Scheme."

This went through and in reality has meant we live in "our" house (now sold to the housing Association for 80% of its full value). We pay a very low rent (£350 pcm when private rent for a house like ours is around £7-800pcm), we have no repair expenses anymore, if something needs doing we phone and it's done within a day or two. There is even a clause which allows us to pass on the house for one generation so our daughter is OK if she wishes to stay here, and presumably she would sign a similar agreement protecting her children. It has been a godsend for us.

Most importantly for us (and this is where you'd benefit) if we do lose all our money we not only have a roof over our heads, we have "our" roof over our heads as it still feels like our own home.

Might be worth looking into. Which part of the country do you live in - if by chance it's South Wales let me know.

[pompeyfaith]

Re: gettin a house

Poochie,

Have you weighed up all options and not just selling for instance what is the redundancy pay out compared to say looking for another job and switching before he is made redundant.

If the redundancy pay out is a low amount this maybe an option open to you.

Admittedly jobs are scarce at the moment but maybe still worth looking into to see what is about.

Just a thought you may not of considered

[enaid]

Re: gettin a house

Hi poochie,
Not sure how things work in Scotland, but we managed to get a council property by moving counties, back to where we were originally from. Our house we left is now being rented while up for sale.
Also have you looked at Interest Only mortgage if you are on a repayment one at the mo, it can make quite a big difference to your monthly payment. this is really an option if you really would like to stay put.
Here is a link to Shelter in Scotland they are very good on all housing matters maybe a good idea to give them a call, prevention being better than cure IMO and you are only seeking to prevent the worse happening in the future.
Shelter Scotland - Housing issues
Enaid x

PS I would love to see a response from Welcome if your OH was made redundant and you tried to claim on the PPI, but obviously I don't wish it on you xx

[Turboman]

Re: gettin a house

Hi Poochie

I've PM'd Bill---he might know

re Interest Only mortgages---FSA have really tightened up & very very hard to get onre now unless you have a "Proven Vehicle to Repay"----ie Endonments or Stocks & Shares for instance

[enaid]

Re: gettin a house

Hi Poochie

I've PM'd Bill---he might know

re Interest Only mortgages---FSA have really tightened up & very very hard to get onre now unless you have a "Proven Vehicle to Repay"----ie Endonments or Stocks & Shares for instance

Not so if you intend or are able to rent out the property.

[Turboman]

Re: gettin a house

Not so if you intend or are able to rent out the property.

Oh right Di---didn't know that

I'm on one but got a hell of a shock last month---they want £60,000 in 2014

[Caspar]

Re: gettin a house

It makes it almost impossible to believe that when my parents mortgage fell due and their endowment matured about 20 years ago, the endowment not only covered the mortgage, but they got about 40 grand on top!

You wouldn't get that nowadays.

[Bill-K]

Re: gettin a house

I'm not sure if I can help. We're Local Authority Housing Association (ie., Council) tenants here in Scotland, but were 'private' tenants prior to that. My in-laws owned their house, though, and when Father-in-law died a while back, our Local Authority housed Mother-in-law without insisting that she sells their house first. However, we did have to 'lay it on a bit thick' with MIL's circumstances. She was elderly and infirm, and needed assistance to get around, so she needed to be nearer us. Also, the house was a 2-bedroom, which was larger than she needed, so she was also 'releasing' a larger property to move into a smaller one. All of this added up the 'points.'

If you can put enough good reasons together to show that releasing your house on to the market benefits the community, as well as demonstrating your own needs as members of that community, then the LA may give you better consideration.

However, if you can use the Mortgage Rescue Scheme as Caspar has explained, that certainly sounds like the best idea to me. I know of another forum member who has recently done this, and who is - I believe - very happy with this.

I'm not sure if the scheme operates in Scotland, though - that would need checking out.

[poochie]

Re: gettin a house

thanks guys...very much appreciated and givin me somethin to ponder over and work on.
the mortgage rescue scheme seems ideal so will be looking into it if it is done here in scotland.
E-naid thats a good point about welcome havin to pay out on ppi just now if hubby was made redundant....it did make me laff....but we hopin it dont happen cause hubby has been made redundant twice in 20yrs, but got new jobs within 3mth period thankfully, but the way the building trade goin in scotland, its all dying out so if he was to get another job, he would have to train for somethin else, so he hoping it dont happen whilst we have mortgage hangin over our heads.
We just doin a lot of thinkin just now and tryin to prevent any serious problems arising if he does get made redundant.....
my hubby thinks that the way welcome are playin us at the moment, even if we got the mortgage rescue scheme help, 80% wouldnt cover both mortgage and welcome so wat would happen then?

[shell]

Re: gettin a house

Two articles you might be interested in.

http://www.adviceguide.org.uk/scotla...s_scotland.htm

http://www.dsdni.gov.uk/index/hsdiv-...ge-support.htm