Seeking advice....

QueensferryRoss

Hi all,

Not sure if I'm on the right board but then I'm sure a friendly mod will move me if I'm not

Anyways on with the story....

In 2005 I bought a house with my then girlfriend, she put down the 5k deposit and I spent 5k on furniture and improvements.

Anyway, we split up in mid 2007 and put the house on the market late in the year... given that was when the market started to slow...the property has not sold.

Anyways, I've got two credit card balances totalling £22.5k, and I make my monthly payments no problem, and I was planning on my share of the proceeds to reduce these and free up some monthly income to go towards private renting...

But the ex stopped paying her share of property bills and a couple of payments were missed on the mortgage as a result - my payment to the joint servicing account was swallowed up by council tax and insurances by the time the mortgage co came calling for their payment.

Anyway I explained to them the situation and they were actually quite understanding and explained no need to make the payments up, we'll consolidate them into the mortgage in 6 months time.

At that point me and the ex agreed we would pay mortgage directly, and I set up my standing order accordingly. 7 months later I get a demand through from the mortgage company for the whole amount of the loan, threatening legal action etc. At this point I should point out that the ex has vanished off the face of the earth, well has gone awol.

I called them to see what was going on, ex had stopped paying and mortgage co wanted full lot now. I explained that ok, she's made a mess of it again but my payment was now covering the monthly instalment with the base rate drop and I could pay more to cover arrears.

Not good enough they said, they didnt even know I had split up with the other party.

They said the only way to avoid repossession was to enter an assisted sale process, I explained the property was already for sale but they were insistent it was that or reposession, which I was not happy about but signed up for.

Just a week later I find they have taken out a court order on the ex, who had considerable consumer credit with them, and they start quoting to the lawyer that the amount outstanding on the property is now mortgage + ex's debt.

Lawyer confirms they can do this, so it appears I have lost everything, even though I am paying the mortgage, currently 3x monthly instalment due and that I didnt sign anything for or know about ex's debt.

Now I am faced with a situation where I'll be out of my house penniless and not able to afford private renting as my credit card payments plus a months rent would have me eating and wearing newspapers from now til eternity.

Does anyone have any suggestions ?

Seems I have a very raw deal here given I have always kept up my payments etc

Buffythedebtslayer

Hello QFR,

I can't offer much help, but wanted to bump this up for your and hope an expert comes along.

I shall have a look at a few links in the mean time see if I can figure anything out
xxx

dotstar24

Merlinexcalibur wrote: »

By 'experts' do you mean the ones who say they are, when they are perfectly ordinary people with no titles in life but assume no one else will know or realize that? Say they are solicitors for example, that sort of thing. And then everyone is in awe of them because of that, but, hang on, it's online and anyone can say that can't they? I mean, look at me, I qualified as a quantum physicist last year, with a double first in quantum theory but I don't really know anything about the law, or consumer rights. Throw a bit of information at someone, which they might not know or knowledge they didn't know before.

merlin...get a grip. or perhaps change your post in roughly....what....3/4 mins??

dotstar24

Or delete it?

makeup

Hello

Firstly, this sounds like a nightmare situation and I wish you all the best in getting this sorted.

It would appear to me that you should get some formal advice from a debt counselling service. There are stickies at the top of the forum with their details. I'm not referring to any companies that ask you to pay but am referring to charities who assist with complex and unmanageable debts.

This additional consumer debt that your ex has incurred, was it secured on the house? Have you got details of this?

Also has she definitely gone AWOL, does she work? what about friends and family? I would have thought it would be hard to completely disappear.

Good luck in sorting out your situation.

Keep us posted!

Buffythedebtslayer

right so the up shot is that they are selling the house and will use the money to pay off the mortgage AND her debts and you won't get anything back?

Both your names on the deeds right?

and she has defaulted? and your Solictor says they can do this?

I don't understand how? you paid your share, she didn't, by all means have an assisted Sale and pay off the mortgage..... Would it be worth getting a second legal opinion?

Hope this is a correct summary. I didn't think that unsecured debt could be linked to mortgage (secured)debt so I don't see how they can take payment of her debts out of the house sale money ?

please post again

xxx

beanielou

Sorry I cant help either.
Can only suggest you try your local CAB or other advice agency.
NOt sure how they can include ex's consumer debt.
Hope u can get it sorted.

QueensferryRoss

Mortgage Co's security is "all sums" , she owes them and has defaulted.

I knew she had a credit card and loan (with another company) but we are talking £23k loan and her £2k overdraft here.

I'm going to contact citizens advice tomorrow too see if there is anything I can do but my very helpful solicitor we both hired for the sale says the only thing I could do is make a counter claim in court against the ex which is not much use as she is obv broke....

Proper nightmare this. Initial thought is to hand keys back to bank, mortgage gets paid off, and her debt doesnt, I'd rather than happened than her debt get paid off too...

Lula-Hula

Hi,

sorry I cant offer you any advice on this other than what you're already planning to do. The only other suggestion is that someone on the house, buying board may know more.

I know it doesnt help you at all but it just seem very wrong to me that you should lose your home when you've continued to pay for it. Dont just give up without making more enquiries though as there may be other possibilities.

wishing you lots of luck & it may be worth posting on other boards or financial sites eg motley fool .

best wishes
lula

sarahb123_3

Hi Qfr, don't have any advice as not sure about the law tregarding mortgages, but surely she cannot get her loans paid against a mortgage with both your names on it please come back tomorrow and post again on this thread to bump it up so the morning people can see it.

Chin up and try to stay positive, difficult I know, but there will be a way out of this x

QueensferryRoss

thanks all so far

solicitors letter to me says that the mortgage deed will quote all debts due to them, ie all sums

but i guess i may be able to argue that given the consumer debt is not joint the least they should get is mortgage + her share of proceeds.

if cab confirm what solicitor is saying I may considering a complaint against the bank and speak to my MP and see if the media would be interested in my story - after all they are making me homeless and penniless when i've kept paying them.... and infact as of this months payment ill be paying them 4x the monthly payment due... although I'll be stopping that if im going to get nothing out of it....