Miss-sold Mortgages Help

mensrea01

quick note to Thrugelmir,

The bit that you have highlighted and relied on about 30,000 of debt. has nothing to do with my inability to pay mortgage - in a nutshell i have no inability to pay mortgage. I ALWAYS PAY MY MORTGAGE AND DONT HAVE ARREARS. Obviously skim read and not completely understood. its only recently that my other half debt came to light. there was not a debt when taking out mortgage. No matter how tight things become these days I always pay the mortgage on my home.

So sorry I am not seeking compo for the lack of ability to pay my mortgage. My other half debt is his responsibility not mine.

mensrea01

Yes thanks HH,

The discussion has now ended and have to say thanks and not take up space for a more deserving person
thanks

mensrea01

The debt is the other half - bury the head in the sand unfortunately. I have a solicitor on hand just in case. I will sign post him as I am not in this position. Thanks

holly_hobby

Everyone who posts for help is deserving - just as you were and are .

Bye for now

H x

Thrugelmir

mensrea01 wrote: »

My other half debt is his responsibility not mine.

Your other half's credit record may well have impacted on your joint mortgage application. Whether you like it or not you have a financial association with him. So the issue is not one of responsibility but the way this will be viewed in the overall complaint process.

mensrea01

Yes you are right as it stand they would impact, this is why I have not applied now. However when I took out the mortgage I made other half sign a deed of trust and subsequently have up dated this with solicitor. Other half even though on mortgage in name only, has no financial interest in house. I put the 40+ k deposit and I am solely responsible for the house. Just in case he does not sort himself out and one of the debtors try something. I did approach the mortgage company last year with regards to a TR1 but no they would not take his name off mortgage, which I suppose is standard practice. Two avenues to try if default occurs. Which it will not. So as I said to HH its the waiting game.

kingstreet

Is it possible you didn't know about his credit problems when you took out this mortgage?

Thrugelmir

mensrea01 wrote: »

Other half even though on mortgage in name only, has no financial interest in house.

Not on title deeds of the property?

holly_hobby

Just as a PS on his debt front - if the property is jointly held with an individual(s) whom are not party to the unsecured debt, then the application of a charging order is prohibited (which is only a possibility in any event if the terms of a CCJ have not been adhered to).

So whether he is on the deeds or not on the deeds, for his unsecured borrowing, makes little difference to the proprety being used as collateral.

In terms of an individual Bankruptcy Order, again generally the jointly held property may not be disposed of as part of the BO, but a notification of interest may be made by the Trustee in Bankruptcy (TIB), with regards to his share of any equity released on sale, occurring within a defined time period specified by the TIB.

You also won't be able to effect a TOE until your are to demonstrate to your lender, that your sole income is sufficient to service the mortgage independently.

So, sit tight for now .. study hard to get qualified asap, and get him to sort his act out ..

Hope this helps

Holly x

magpiecottage

Meeper wrote: »

Welcome to the world. Nobody takes responsibility for themselves any more. I just wish that sometimes the Ombudsman would reject a complaint on the grounds of abject stupidity of the complainant.

Having recently seen a case upheld because the IFA did not explain the tax implications to a Chartered Accountant, I wonder if FOS assumes that everybody except an IFA is a moron.