Help please

sukie2

Hi Every one i hope some body can advise me , my husband and i have been married for 11 years but 3 years ago divorced our home had a £50,000 mortgage on it , the mortgage is in joint names we have one girl aged 10 years i know live in rented property with my daughter , my ex lives in the marital home , it is up for sale but nothing is selling our way , i found out a few months ago he had remorgaged the house to £70,000, i did not give consent or sign any thing at all ,i also find out he has now changed payments to interest only with out my consent !! surely i should be asked and of signed a document what do i do the motgage company is one of the top ones sukie:mad:

Dave_Ham

You need legal advice and quickly..

I am not sure on the terms of your separation, but typically the parent with child would stay in the home.

You need to put a restrictive charge on the property by a solicitor and then take their advice on how to protect and move forward.

The interest only is not an issue (unless it affects the maintenance based upon income and expenditure) as only 1 mortgagee needs to request this, although surprised he got and the further advance is blatant fraud

Andystriker

Go and see a Solicitor on Monday. Don't leave this thinking I'll do it later, do it now.

holly_hobby

Hi there,

I can understand how increadibly frustrating this must be for you.

If you are a joint mortgagor (i.e jointly named mortgage borrower) - then any Further Advance (FA) application would legally need to be signed by both of you (even if his income is sufficient to service the total mge), as by being joint mortagors, you are jointly and severally liable for servicing and repaying the whole debt - if they didn't request this (meaning that your ex didn't engage in DIY signatures), they have not correctly executed the FA application - which carries its own issues for the provider.

It appears that you did not advise the lender (who is the mortgagee) of your vacation of the marital home, or separation (whether its a legal separation makes no difference), allowing him to apparently get up to some very naughty monkey business !!

How did you actually find out about the FA ?

Changing the repayment type, I did think again that the lender would need to establish that all mortgagors were aware of the implications of going interest only.

First thing to do, is contact the lender and advise them of the true marital situation, advising of your new address and ensuring that from now on you are furnished with a duplicate of ALL docs issued in relation to the mortgage, ie annual statements, arrears notices, etc ,etc ... the restrictive charge Dave also mentions would be a wise move (which the lender may also suggest)

Whether you disclose the apparently fraudulent application is up to you, but forging a signature is fraud - and they may involve the police in any action they take ....

If the property isn't selling, and you want out of this, you could seek to have your name removed from the deeds and mortgage (if his income IS sufficient to service the lot), and have a legal agreement set up for the division of proceeds upon sale.

Or, drop your asking price to a little below the local market average (if possible and it doesn't result in exposure to negative equity of course).

Seeking your own legal advice regarding the fraudulent aspect of this - refer above - could be a can of worms you regret opening, which I know doesn't validate his behaviour, just looking at the wider picture, considering you have a little girl who's in the middle of it all - of course if he has forged your signature or authority then you may want to ensure he feels the full weight of the law if the lender elects to prosecute. However, you may want to take advice re your obligations regarding the fact that you are presently legally responsible for entire debt (inc his FA) - to which you were prevented from agreeing to the terms of any FA, as you were neither consulted nor party to the FA application.

But your absolute primary job asap is to put your lender, firmly in the picture - the rest will follow on.

Hope this helps

Holly