Outstanding liability to mortgage co

dali1968

Really hope someone can give me some advice.

My partner has just received a letter from a solicitor in repsect to an outstanding liabaility on a house that he used to share with his ex that has now been repossessed. It amounts to almost £16,000.

He split with his ex about 5 years ago and walked away from the house. At the time he was seriously ill with epilepsy and his memory of this time is very cloudy. He presumed that she had sold the house and made a nice profit.

The mortgage was only for £24,000 and has been sold for £48,000 we are wondering if she has taken a further mortgage out.

Anyway, my main question is that my partner never had any notification that the mortgage was in arrears nevermind that the property was being repossed. Would he have had to sign something before it was sold?

Senior_Paper_Monitor

No he wouldn't. They would contact him/her at the advised address and if he just 'walked away' it would be there.

The liability will remain his on a joint and several basis with her (BUT if she took extra money on teh agrrement without his consent it is possible it could be challenged as not correctly executed).

First action is to get his credit report - which has probably been horribly trashed.

Second will almost certainly be a solicitor !!!

dali1968

It would certainly explain why he was turned down when he tried to open a bank account recently

A solicitor is good advice - thank you.

My partner always presumed that he had been taken off the mortgage once he had left. Not a good assumption but he was really quite ill at the time. We need to ascertain whether she has done anything frauduently and move on from there I think. Not good!

Senior_Paper_Monitor

That would appear to confirm that his credit rating is screwed and he is in deep doodoo !!

Invest in the credit report ASAP - then solicitor or CAB (frankly probably a solicitor job in preference).

Request all information fom the lender immediately, if they are at all less than co-operative serve a data protection demand on them instantly (the best £10 value in the world when entering a battle).



While I think about it - check you credit report at same time (and be prepared to start disassociating)

dali1968

We do not have any joint accounts etc whilst he lives at my home, he is not on any of my household bills Only thing registered at my address is his bank account

dali1968

Forgive my ignorance, but why is obtaining a credit report important? Surely if it is bad then there is not alot we can do?

caeler

dali1968 wrote: »

Forgive my ignorance, but why is obtaining a credit report important? Surely if it is bad then there is not alot we can do?

There is plenty you can do. Please spent £2 with equifax and do it now. It will give you a history and what would show up is this whole house issue (ie. posible missed mortgage payments, etc) I don't have much experience with the situation you find yourself in but you can challenge things but at least you'll know how bad, bad really is. Good luck.

http://www.equifax.co.uk/Products/credit/statutory-report.html

Senior_Paper_Monitor

There are a gazillion reasons - if you need to wade out of the swamp you need to know how big it is !

First piece of information will be details of the actual mortgage loan and its make up - as you don't know how it got the current value I would have thought it would be a good starting place !

It will also warn you of anything else that has been "overlooked in the cloudy state". Now that the solicitor has 'found him' a number of other items could well come out of the woodwork !

Conrad

You do not need a Solicitor really - they need paying for. My second down Brother had a bill for £52000 from Bristol and West after the last recession. He simply offered £2k, or threatened to go Bankcrupt in which case they would have got now't. They settled on £2.5k. There is always a simple solution to such things.