What happens if you have a mortgage or cant pay the rent.

[outside m25]

Like most people in the UK i don't own my house yet. I have a mortgage and i imagine a lot of people in the UK either need to pay the mortgage or pay rent.
If the SHTF and you are bugging in. What happens if a post apocalyptic rent collector /bailiff turns up at the door to throw you out???

[unsure]

i should think any agency would have difficulty collecting anything if the world went pear shaped .
if its a local one then they need a court order to throw you out , in which time you`d more than likey caught up or come to an agreement with the lender or rent man .

[pseudonym]

Start putting aside a few quid, until you have 1 months worth of all bills on hand. I took a year to do this when I still had my mortgage. Great for your piece of mind.

[Arzosah]

Cutting down/getting rid of debts, including mortgages, is of primary importance - a *complete* breakdown of society is unlikely - possible, but unlikely. Greece, for example, is pretty much in a shtf situation of its own, and the financial institutions are still operating. If the shtf situation was a pandemic, evictions *might* still operate the only answer is to work that mortgage! Hard!

I downsized a couple of years ago, so I was able to pay off the mortgage outright (I'm very old ) though just before then I had the mortgage and lots of debts too, so I *do* know the feeling - I moved heaven and earth to get debt free, basically, 12 hour days for years. I'm still not particularly clear for the future, but I'm working on it.

[nickdutch]

I have rented places in the past. It was hard to cover the rent, electricity, water, gas, council tax and the like especially if you are in a house share with a few students who think that the world owes them everything, especially if they are from abroad and feel that they can get away with pretending that they don't know the language (when they are doing a degree in English LOL). But, thanks to value rice and eating rubbish, i found myself a way to get the money together. Yes, you have to eat unhealthy, do without the vital vitamins and minerals that you need for your health, but cheaper products or do without, re use disposable razors, work when you are dying of the flu and learn how to be assertive to the people who owe you money or are liable to pay towards the up keep of the place.

[12mp82]

The likelihood of repossessions is going to be small, even during a pandemic, unless it went on for many years. Most of the flu pandemics in the past have lasted around about 12 weeks from start to finish, then popped up again later, with the 1918 pandemic it returned twice.

If you are off sick possible for a few weeks to a month then the first thing to try and do is get in touch with your mortgage provider and make arrangements to defer payment or offer to pay a bit extra over the next twelve months, if you can pay a bit more every month to build up a buffer then you might be able to take a payment holiday for a couple of months.

In a major countrywide situation they are highly unlikely to be willing to start evictions for non-payment as there is going to be many thousands of households in the same position.

[jansman]

The likelihood of repossessions is going to be small, even during a pandemic, unless it went on for many years. Most of the flu pandemics in the past have lasted around about 12 weeks from start to finish, then popped up again later, with the 1918 pandemic it returned twice.

If you are off sick possible for a few weeks to a month then the first thing to try and do is get in touch with your mortgage provider and make arrangements to defer payment or offer to pay a bit extra over the next twelve months, if you can pay a bit more every month to build up a buffer then you might be able to take a payment holiday for a couple of months.

In a major countrywide situation they are highly unlikely to be willing to start evictions for non-payment as there is going to be many thousands of households in the same position.

When I was between jobs, I faced this problem. I contacted my bank. The Mantra was always, "Talk to us if there is a problem"- they said, " Three months non-payment if working , six months if you are not. Then you are out ." Merciless. After that I made
sure I had 3months mortgage money put by.

Then I had an industrial injury that put me out for three months-surgery and the lot! All I wanted was was my wages. No, the Boss thought he was being clever. But I was more clever. My Union screwed the Firm for compensation.
But in the meantime I still had to pay the bills-which is where my savings strategy came in. Thankfully, my mortgage is now paid. I MADE that happen. To be frank, it has probably been my only ambition. Now I have VERY erratic work, it is my worst worry no longer.

My advice is to get at least 3 months housing-rent/ mortgage behind you. Shite happens.

[Hamradioop]

My advice is to get at least 3 months housing-rent/ mortgage behind you. Shite happens.

sound advice. BTW a re-payment mortgage can be paid down within 7 years by doubling the payments. Other mortgages are available and work differently.

[12mp82]

When I was out of work many years back they used to pay interest only for as long as it took, but I had an endowment mortgage, so still had to find that payment.

I paid mine off ten years early, so won't have that worry again.

[jansman]

Well mine was gone six years early. Best thing ever. Good luck to those who want to free themselves. Because it is freedom.