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2 nd charge
nani321
Posts: 1 Newbie
I have in arrears on my mortgage. I have a second loan which is a charge over the property. I am in arrears in that too. I have been told by my first mortgage that even if i am in arrears on second charge the second charge cant try and repossess my house. is this right?/ i live in northern ireland
0
Comments
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Many second charge lenders bring about repossessions, otherwise they would have no interest in 'securing' thier loans against property in the first place.
My own brother went bankrupt - best thing he ever did, and none of the 'old wives tales' about dire consequences came to pass. They kept all thier belongings, and retained a woolwich current account and he carried on his business.0
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