- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
stop your mortgage payments altogether and let the bank repossess, it's allowed...
Collapse
X
-
stop your mortgage payments altogether and let the bank repossess, it's allowed...
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain -
In the UK if you're repossessed, the bank will come after you for any shortfall in the house sale. Unless you've paid for an indemnity, in which case the insurance company will come after you.Down with racism. Long live miscegenation! -
Originally posted by NotAllThere View PostIn the UK if you're repossessed, the bank will come after you for any shortfall in the house sale. Unless you've paid for an indemnity, in which case the insurance company will come after you.Cooking doesn't get tougher than this.Comment
-
-
No it won't catch on in the UK, as you will be pursued for the difference. I kn ow this as a family member walked away from a mortgage due to ill health.
The debt was sold by the bank to a very nasty debt collection agency. They will stop at nothing to get the money back. To make it worse, the house is often sold at auction for a tiny fraction of what the homeowner paid.
Don't try this at home folks.Comment
-
Originally posted by TheBigYinJames View PostAnd you'll never get credit or a mortgage aver again.Comment
-
Well that's it I'm moving to America, even in the bad times you can use a 'get out of jail' free card - while the european banks pick up the tab.
That's it my BTL is going on the market, I'll buy this house in the Hamptons and still have change left over..."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
-
"Condoms should come with a free pack of earplugs."Comment
-
Originally posted by ThomasSoerensen View Postthat is a lot of house for the money.
If only we could get rid of the Yankees, then it might be worth it.Comment
-
I have a plan
We go over there and buy their houses. Then we hire the former owners as servants. They will be perfect for the job as they already know where everyhting is and we pay them in US pesos so it is cheap as chips.
BOOMED!"Condoms should come with a free pack of earplugs."Comment
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Comment