children and sequestration

pevonia

Got a very big problem, so really hope you guys can help.

Brothers Partner died over year ago leaving two 4year old twins. My brother gave up his job to be there for the children. He is now being hounded from building society to return from interest only to repayment mortgage. Changed to interest only when sister-in-law went onto half pay. He cannot afford to do this and has told the building society this, however, they have only gave him 6 months grace. He has came to a decision to hand the leys over to the building society and apply for sequestration. After discussion with citizen advice he may not be able to do this. The children are getting a pension paid in from mums employment and my question is would this pension be seized to contribute payment of the mortgage because there will be a shortfall of approx 17 thousand. I meant to say the children's names are on the mortgage too, this was done by the lawyer my brother appointed to deal with partners estate.

IF

Bumping up the board.........x

silvercar

I don't understand all the terms.

I also don't understand how 4 year olds can be named on a mortgage.