Selling house but guarantor stopping me.

CSKR

Hi MSE users, please can someone of knowledge advise me whether I am able to sell my house (just my self on the deeds and mortage agreed under my name only) without the permission of my guarantor (mum).

She and I have fallen out and I have advised I will be selling my home in order to fund my move to Australia hence the falling out.

She is saying she will stop me selling the house even though she is not on the deeds just guarantor.

Is this possible?

G_M

No.

Her only role is to pick up the costs if you default on your mortgage payments.

If you sell, you'll have to pay off the mortgage, and she will no longer have any role to play.

DVardysShadow

CSKR wrote: »

Hi MSE users, please can someone of knowledge advise me whether I am able to sell my house (just my self on the deeds and mortage agreed under my name only) without the permission of my guarantor (mum).

She and I have fallen out and I have advised I will be selling my home in order to fund my move to Australia hence the falling out.

She is saying she will stop me selling the house even though she is not on the deeds just guarantor.

Is this possible?

Answered by G_M.

But why do you want to go to Australia?

blackshirtuk

Poll, a little ambiguous

Am I the only one able to make decision to sell = Answer Yes

can the guarantor stop me = Answer no

Again correctly ansered by GM

CSKR

I really didn't understand the poll side of things, still getting the grips with MSE, however thank you for the message. And advice

Takeaway_Addict

CSKR wrote: »

I really didn't understand the poll side of things, still getting the grips with MSE, however thank you for the message. And advice

Can't you make it up with ur mum before you leave for Australia? Be aweful sad if you leave on bad terms.

ilikewatch

jizzler wrote: »

A better question would be who wouldn't want to go to Australia ?
ANS :- Because this country is full of foreigners.

Anyone moving from the UK to Australia "because this country is full of foreigners" is going to be sorely dissapointed - roughly 90% of the UK population are British, compared to only 5% of the Australian population...

martinthebandit

jizzler wrote: »

A better question would be who wouldn't want to go to Australia ?
ANS :- Because this country is full of foreigners.

Oh really? Of slightly more concern to me is the number of idiots and Australia has its fair share of them.

roger196

If the house is in negative equity, would your mum be liable for the shortfall under the guarantee. If so she might possibly have some say in whether you sell or not. Although this is unlikely, you need to read ALL the terms in the guarantee.

Going to Australia is a big move, get plenty of advice off the British Expats forum ( make sure your anti virus software is up to date as I get dodgy pop-ups with this site).

Getting a visa is quite a challenge, again do your research on the Australian government website.

Try to make it up with your mum before you go or at least ascertain the reasons why the two of you have fallen out.

DVardysShadow

roger196 wrote: »

If the house is in negative equity, would your mum be liable for the shortfall under the guarantee. If so she might possibly have some say in whether you sell or not. Although this is unlikely, you need to read ALL the terms in the guarantee.

Good point. Although in this situation, without a guarantor, the lender would put a stop to it - so mother's intervention as guarantor would not actually stop anything which could otherwise happen.

roger196

DVardysShadow wrote: »

Good point. Although in this situation, without a guarantor, the lender would put a stop to it - so mother's intervention as guarantor would not actually stop anything which could otherwise happen.

From the lenders point of view, a house in negative equity but with a guarantor does not give rise to a bad debt on sale ( assuming the guarantor is good for the funds). Hence the lender will not block the sale.