Secured loan help please!

lynz412

Just a quick question, my husband has a mortgage with the Abbey national, and stupidly we took out a secured loan with first plus about 5 years ago.

The first plus loan is joint, but i am not on the mortgage for the house.

We are struggling with the payment and have had the usual threats, but i just wondered how it would work considering we have a joint secured loan on a single owned property?

Has first plus made an error in lending tous jointly as the home is not owned jointly?

amersall

lynz412 wrote: »

Just a quick question, my husband has a mortgage with the Abbey national, and stupidly we took out a secured loan with first plus about 5 years ago.

The first plus loan is joint, but i am not on the mortgage for the house.

We are struggling with the payment and have had the usual threats, but i just wondered how it would work considering we have a joint secured loan on a single owned property?

Has first plus made an error in lending tous jointly as the home is not owned jointly?

I would think you are just the second named borrower, the house is still secured in your husbands name.By the way have you put a claim in for mis sell of pp? your ppi only lasts 5 years but the total ppi is put on your loan at the beginning and you pay it back over the term of the loan with interest
Take a look at this website
firstpluscomplaints.co.uk and have your eyes well and truly opened about fp.

lynz412

Hi thanks for that, and yes we have done that already, wish we had never heard of Firstplus, has made our life a nightmare!!!!

Mikeone

Yeah, Carol never mentioned that on the adverts :mad:

Best of luck with it all, hope you get things sorted.