Charge on property by bank..name off mortgage?

sickofitall_3

HI, my idiot husband put a guarantee for a business overdraft on our property, thebusiness went bust nad now the bank have put a charge on our property. He paid a specialist to deal with this, they didnt really, court papers were served when my husband was abroad and the guy dealing with it did not send in the acknowledgement of service in time etc etc so the claim was upheld and the charge put on our house. Never mind that i am furious he did it without my knowledge, but now i am trying to find out if there is a way around it. If he took his name off the mortgage would it stop the charge against me, if we sold the house, and rented or bought another property, would the charge be reapplied to the new property etc etc. thanks for all your help in advance. I KNEW AND SIGNED NOTHING AND I AM ON THE JOINT MORTGAGE.

clutton_2

the charge has to be paid.. if you sell and there is insufficient to pay the charge then the creditor can chase you for i think its 6 years...

sickofitall_3

THANKS Yeah, i know they can chase it for 6 years but if it was signed only by him and he no longer is on the mortgage or does not pwn a property, how would it work then, i mean, i know they can chase for the money but they cant touch me or the house then, right? thankyou

sickofitall_3

by the way there is over £40k NEGATIVE equity in the property as it stands just now

poppysarah

Doing anything like you're thinking whilst staying married will be seen as avoiding the debt.You should probably go and get some legal advice though. Most places will do half hour free.

MobileSaver

sickofitall wrote: »

If he took his name off the mortgage would it stop the charge against me,

He can't just take his name off the mortgage, you need to get permission from the lender - with £40k negative equity I'd have thought that would be highly unlikely.

sickofitall wrote: »

i know they can chase for the money but they cant touch me or the house then, right? thankyou

From what you have said the charge is on the house not your husband, specifically the charge will probably be against his share of the property. So he can't dispose of his share (i.e. neither of you can sell the property) without settling the charging order.

If the "specialist" you refer to was in some way responsible for the situation then you may want to consider taking action against the specialist.

Jowo_2

I would think your problems are greater than just this single charge against your house where perhaps your husband may have acted fraudulently if the documents required your signature and you did not supply it (I'm not aware if a second signature is required for joint transactions. Ask for a copy of the credit application form).

You'll find the Debt Free Wanabee board has members with more skills and experience in this type of money management issue.