Hi, I am selling my house. GT are being very unhelpful about the equity outstanding. Basically I have 1 year to run, but need to sell and will need expenses to rent a another property. My conveyancer has been asked to retain all proceeds from the sale before they remove their name off the deeds to allow the sale to complete. However I am concerned that I could be in effect homeless as I will need 6 months rent up front plus fees from an agent. I am thinking to get a good solicitor that can deal with GT and my conveyance.
Another solicitor will face the same problems and get the same response from GT .... and will cost you more in the long run.
Do GT know you NEED to sell ? Put on your poker face and tell them that, if the figures and / or agreement regarding monies you are allowed to retain are not forthcoming you will simply have to stay and the creditors will not get any of the equity, other than that agreed in your arrangement, which, presumably, will be 12 months payments and a lot less that you can pay over if you sell.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
Thanks Foggy. It is very complicated... we have divorced, also my ex wife has had ill health problems for years and has been on benefits and is living elsewhere. I cannot afford the mortgage especially as interest rates will go up in 2015. I just need a straight answer from them. I may even demand a meeting, but bet they wont do this..
