Will I lose the house???

Senior_Paper_Monitor

Bl**dy hell !!

I hadn't spotted it was rented out - Halifax don't do Buy to Lets, so there is every possibility (assuming let since day 1 ??) that this was fraudulent from that point of view as well.


Is that the sound of a pack of cards (boyfriend's) collapsing ?

hardworker2010

@fatbelly and clapton thanks for tip - I have checked land registry and its in my sole name and amount paid and lender etc. which is correct.


@clapton - I don't think lender is aware of property being rented; he deposits the rent into my account and mortgage is collected from my account and rent being paid by tenants does not cover full mortgage so he has been meeting the shortfall. Rent is being paid to him not me and he arranged solicitor. Reading this back it looks awfully fraudulent but it's obviously a situation i want to try and correct; if possible and keep my house too.

hardworker2010

@senior paper monitor - I was not aware there was a declaration that needed to be completed as you can tell I am completely naive to these processes and at the time was extremely ecstatic at the opportunity of getting on to the property ladder. As the money came out of his account to fund the deposit would the lender not have questioned his involvement in paying to deposit ESP as there was no declaration - or would he have signed the declaration and my signature not needed for that.

bouicca21

When I and the ex gifted money to daughter to add volume to her deposit, we had to sign declarations to the effect that it was a gift and that we had no claim on the property. Check with your solicitor to see if there is a similar declaration.

opinions4u

Senior_Paper_Monitor wrote: »

Bl**dy hell !!

I hadn't spotted it was rented out - Halifax don't do Buy to Lets, so there is every possibility (assuming let since day 1 ??) that this was fraudulent from that point of view as well.


Is that the sound of a pack of cards (boyfriend's) collapsing ?

Halifax do BTL.

http://www.halifax.co.uk/mortgages/buy-to-let/

Senior_Paper_Monitor

Mr 4u (and other readers) - my apologies, never placed one there and assumed no BTL. It appears from that they do sell them direct (although I suspect that what happens is that they then refer them to BM Solutions, certainly all adviser based placements go to BM Solutions and they are very much broker only).

Mojisola

hardworker2010 wrote: »

he deposits the rent into my account and mortgage is collected from my account and rent being paid by tenants does not cover full mortgage so he has been meeting the shortfall.

Rent is being paid to him not me and he arranged solicitor.

Which of you is the official LL who complies with all the legislation? Who pays tax on the rent?

jacques_chirac

Who would buy a house to let out, in the knowledge that the rent will not cover the payments? :eek:

Morgage_Confused

I suspect we only have less than half the story.
Rent not covering mortgage implies a repayment mortgage and not a BTL.(interest only)
This stinks to be honest.

resilie

Sounds super dodgy!!! Who would buy a house without being aware of the basic legal implications and agree that tennants pay someone else in cash who then deposits money in your account. Tax fraud/ money laundering anyone?