Husband wants off a 4-way-mortgage!? Very complicated please help.

scoobyfamily

Thrugelmir wrote: »

Here's the link.



As a small Company it may well file modified accounts that won't tell you very much detail. But it may well give you insight into her "empire".

From a neutral point of view. I think you really need to decide what your objectives are. Its difficult enough to have this type of scenario in a business relationship. Add in family and its a potent mix. How much of a hornets nest are you willing to stir up?

Last Accounts Made Up To: 31/03/2009 (TOTAL EXEMPTION SMALL)

That's about all that's there. and it says the registered office is the property which is their home, not the business premises. I did mention this to him and he said he spoke to her before about this. She said Oh yeah I need to change it but hasn't.

With regards to the 2nd part of your post, it's not really me that's stiring it up though - it will be him. I think it's about time they woke up and realised the ridiculous mess they are in - and at the same time realise that he/we don't want to be involved!!

scoobyfamily

KarenBB wrote: »

would the credit report also give the inormation of who mortage is with? Clutching at straws to help

Yeah it does - it was a few years ago that we did this and never actually wrote any details down. It's like a monthly direct debit that comes out so you can see your credit file every month updating. We cancelled it as felt there was no need to see it. (Silly canceling really)

It was definitely a mortgage company with the name "Mortgage" in the name. e.g. "First mortgage" or "direct mortage" something like that.

We could get his file again but that involves marking it with another credit check.

He has never defaulted on any payments, never had a credit card. Had various mobile phone contracts and finance on store cards and Black Horse for car finance etc. The only debt he has now is our cars on finance. That's it and they are always paid on time. All the other bills are in my name. He has a fantastic credit history, it's the mortgage that prevents him getting any credit and due to my Step mother working in the bank he applied for the loan with, she was able to tell us why the loan was declned = mortgage.

Trollfever

registered office is the property which is their home, not the business premises.

This is not an issue. Many Ltd Companies have their registered address at their accountants, solicitors, etc.

byebyedebt

KarenBB wrote: »

would the credit report also give the inormation of who mortage is with? Clutching at straws to help

Yes. The credit report will list probably all of your husbands debts. It will show credit limits, original amount borrowed, current outstanding, and possibly how much per debt is being paid off.

It will not list his families details, although it will report may report a financial connection for the mortgage.

I have a four way mortgage with my parents and brother so have the same connection however the difference is that we rent the whole property out. It took about 18 months for that mortgage to appear on my credit report and it doesn't show that anyone else is connected to it, so in my case it makes me look good as house value is way higher than the mortgage.

Try the experian free trial, but make sure you cancel it within 28 days.

scoobyfamily

whitewing wrote: »

Are YOU absolutely certain that your DH will follow it through though before you start really upsetting everyone. I understand why you want to buy your own house with the baby, and I would too in your situation, but why wasn't it sorted before you got pregnant? (Not being accusatory here, just feel a little uneasy).

To be honest it did take us by surprise that I got pregnant. We were just about to get IVF as I was told when I was younger I couldn't conceive naturally. We brought the wedding forward to ensure we were married before the birth.

The plan was to make sure we had the lawyers fees sitting there (which we do now) to pay to alter the mortgage. And have a deposit saved up to be in a position to buy. Basically so that all the upset would be worth while as we would be buying a property.

The more time went on and the more things she was buying I was getting concerned. It was only once my parents new about the scenario and with the loan decline from the bank that we were shown the true impact that this could have on us if something were to go wrong and this is the reason why it's important that he is off the mortgage not just so that we can buy a property - as I could always buy one in my own name in 2 years so it's not the point. I couldn't imagine them defaulting and us having our own (£750 example) mortgage to pay for along with their £2500 :eek:

scoobyfamily

byebyedebt wrote: »

mortgage to appear on my credit report and it doesn't show that anyone else is connected to it, so in my case it makes me look good as house value is way higher than the mortgage.

This is how it looks on his. It's his name and then the mortgage company and then 25 years - £680,000. £2,430ish per month.

The value is lower than the mortgage at present.

Quentin

byebyedebt wrote: »

I am a xxxxxxxxxxxxxx Customer and also a Distributor .

You break the site rules by advertising your company like this in every post you make on MSE.

Senior_Paper_Monitor

Quentin,

Play fair please - and perhaps avoid rampant thread drift (and I know from your multiple posts elsewhere that you have a rabid hatred, that seems to exceed all bounds, of Telecom Plus/Utility Warehouse).

I quote from the site owner's own instructions ....

Some strict rules

Due to rather bitter discussion about this we have had long term rules established.

• All Telecom Plus Distributors must declare it when they post

.... for which reason I also declare the same interest on my signature (together with details of 'real job').

In case you haven't realised .... you have succeeded in p***ing me of royally and - in my opinion - making yourself look like a grade 1 t**t.

Mr byebyedebt made a perfectly reasonable comment and constructive suggestion to the OP in an effort to help (I hope my comments - with my admission of how I earn my living as instructed by the site owner in both cases - do the same) and that is more than I can say for yours. With reference to which please note another instruction from the site owner ....

"Treat those with opposing arguments with respect, even though you disagree and please try and avoid personal remarks. I live in hope!"

.... and yes I have probably just broken that last guideline myself !!!

noh

We could get his file again but that involves marking it with another credit check.

That no one else but you can see.

Quentin

Senior_Paper_Monitor wrote: »

Some strict rules

Due to rather bitter discussion about this we have had long term rules established.

• All Telecom Plus Distributors must declare it when they post

No-one is allowed to advertise like this. You also break the site rules by advertising in your sig.

That rule you quoted at me is for uw reps to declare their interest in the uw thread - though you, of course, know that. (In that thread there have been many reps who have posed as satisfied customers as a cynical way of using MSE to advertise)

Your personal abuse aimed at me is unnecessary, brings your company into disrepute and seems posted just to cause trouble.