my deceased father's mortgage

getmore4less

How long have you been paying this?

getmore4less

Do you still have a debt problem?

Do you still have a mortgage?

Getting a mortgage may not be that easy.

How much is the house worth and how big was the mortgage?

was he working?

VIGILANT22

lola34 wrote: »

Are you sure theres no life insurance but under a different 'identity' we have always used a financial advisor so have always had a policy to cover the mortgage incase of deaths - I would double check through the paperwork its only a small amount each month so you might have missed it.

Many many many people do not take out life insurance.................if I ruled the world it would be compulsory.........

opinions4u

Foggster wrote: »

Surely the mortgage "died" with your father?

No. The mortgage remains open until redeemed.

The estate has liability for it.

In theory, should you stop paying the mortgage

The executors should make arrangments to either make the mortgage payments from their own funds (recoverable from the estate when probate is obtained) or to mutually agree reduced payments with the mortgage company for a period of time.

DO NOT SIMPLY STOP MAKING THE PAYMENTS.

how could the mortgage company recover its costs from a deceased person????

Repossessing the house and making somebody else homeless. Not a desirable outcome. I'm not sure that your suggestion about not paying the mortgage is appropriate.

pict_saver wrote: »

Do i tell the Halifax that he's passed away

Yes.

and change it into are names?, need lawyers?

Halifax would have to agree to accept you as borrowers. They are not obliged to. You will need solicitors (£250ish) and Halifax consent (£200ish - not sure if they would waive it in these circumstances).

There may be a case for involving a solicitor in the winding up of the whole estate and helping you to discharge your responsibilities as executors, although this is rarely cheap.

We fixed it for 5 years to jmay 2014 last year! Still keep paying until end of fix? then maybe go onto svr? or do get the name changed at the end of the fix?

Fixed, variable or cracker jacker tracker doesn't matter. The estate is still liable for the mortgage payments regardless of rate.

VIGILANT22

Foggster wrote: »

Surely the mortgage "died" with your father? You could be accused of deception or fraud or both if you do not notify the mortgage company of what has happened. In theory, should you stop paying the mortgage who how could the mortgage company recover its costs from a deceased person????

Wrong, wrong wrong....if you dont know something....dont post a load of rubbish....

pict_saver

lola34 wrote: »

Are you sure theres no life insurance but under a different 'identity' we have always used a financial advisor so have always had a policy to cover the mortgage incase of deaths - I would double check through the paperwork its only a small amount each month so you might have missed it.

yes sure, thanks anyway

pict_saver

opinions4u wrote: »

No. The mortgage remains open until redeemed.

The estate has liability for it.

The executors should make arrangments to either make the mortgage payments from their own funds (recoverable from the estate when probate is obtained) or to mutually agree reduced payments with the mortgage company for a period of time.

DO NOT SIMPLY STOP MAKING THE PAYMENTS.

Repossessing the house and making somebody else homeless. Not a desirable outcome. I'm not sure that your suggestion about not paying the mortgage is appropriate.

Yes.

Halifax would have to agree to accept you as borrowers. They are not obliged to. You will need solicitors (£250ish) and Halifax consent (£200ish - not sure if they would waive it in these circumstances).

There may be a case for involving a solicitor in the winding up of the whole estate and helping you to discharge your responsibilities as executors, although this is rarely cheap.

Fixed, variable or cracker jacker tracker doesn't matter. The estate is still liable for the mortgage payments regardless of rate.

the lawyer has done everythig else, yes i have been paying the mortgage all the time

Errata

pict_saver wrote: »

I'm the name executor of the estate,i am entitled to a % with sisters % each i read all the information that people have supplied but still would like to know how it works if i was just to carry on paying until the fix is finished. would that be a problem?

As executor you have a legal responsibility to settle the estate. That means ensuring all debts are paid and then ensuring all beneficiaries receive whatever they are bequeathed. Whatever that entails, you can't not do it and it has to be done within a reasonable time.

pict_saver

Errata wrote: »

As executor you have a legal responsibility to settle the estate. That means ensuring all debts are paid and then ensuring all beneficiaries receive whatever they are bequeathed. Whatever that entails, you can't not do it and it has to be done within a reasonable time.

yes done that!

pict_saver

can i just deal with halifax?, no solicitor