looseing home after probate

jamesd

You're living in a place that you cannot afford. With no prospect of being able to afford it later either your best option isn't repossession, it's arranging to sell the place yourself because that normally results in getting a higher price. Then you can buy or rent a place that is affordable for you. Since the sons are now joint owners you will either need their consent to sell or would need a solicitor to force them to allow you to sell.

relaxtwotribes

With respect to that element of the recent mortgage payments that goes towards paying off the principal, does the OP not gain some form of right of subrogation for that portion (guessing 33%) that is for the benefit the sons? Otherwise, the two sons will be unjustly enriched.

Perhaps someone cleverer than I can clarify?

oriental333

No the government buy back scheme i am not eligible for.

Citizens advice dead end

deed of variation original was that it was 50 50 but my late partner passed on a extra third of her share but now this is being disputed by her sons.

Always easy to say see solicitor when you don't have the money to pay my own bills.

If the beneficiary have purposely not taken my late partners name off the house deed and not yet transferred it to their name. have they profited from any future sale of my home by means of myself continuing to pay the mortgage each month and not contributing.

Is that what subrogation is

Could i claim back from them all their part of the mortgage payments.

Why are they holding off not adding their names to the deed and continuing to keep my partners name on the deed.

If they did have to pay a percent of the mortgage would i really be liable to pay them rent.

missile

They will benefit from increase in value - only if there is one, but you are benefitting from living in the house and not paying rent elsewhere.

oriental333

I know my partner did not forsee how her passing would affect my life. But as for benefit from staying in the house i don't see that. I will be paying 600 pound in rent to them for the servicing of what was my partners half of the mortgage that when they get their names put on the deed.

And i pay 600 for my part of my mortgage. Presently i pay the full 1200 to the mortgage company. It is hard to give up my memories of my partner.

The house will sell when a buyers ready. But until then should i not only be responsible for my half of the mortgage now and her sons take responsibility for my partners half.

I should not have to meet their cost by means of paying them rent to service their half of the mortgage

could i refuse. To pay the rent for all the 17 months they forced me to pay full mortgage

missile

I am not quite sure I follow your logic. They cannot make you pay rent. If you agree to their proposal, you will be no worse off if you pay rent to them and they pay half the mortgage.

This is a nightmare that after 23 years together that my partner could have never had seen coming. Repossession looks like the only option left for me.

Did you not discuss what would happen when one partner died before the other? Why no life insurance cover for the mortgage? Every lender I have used insisted on term insurance as minimum cover.

£1200/ month; Surely house is too large now you are on your own? If you cannot afford to stay, you would be better selling than waiting for repossession. Sorry if that sounds harsh.

SevenOfNine

Now I'm getting confused!

No point in crying over spilt milk. Sadly OP is clearly now fully aware of the pitfalls of 'not doing this or that' in the preceding years, can't go back & change it.

As Tenants in Common you own half the house and late partner the other half. You say a Deed of Variation was agreed so the Will with presumably sons as sole beneficiaries of whole estate (cash, personal stuff and 1/2 the house), would have been legally amended to reflect you being given a further portion of partners 1/2 of the house.

So wasn't the Deed of Variation formally agreed and the appropriate legal documentation drawn up? If so I can't see how/why the sons can contest that now, if not then there is no actual, valid, Deed of Variation.

You have not explained why Citizens Advice was a "dead end", I hope you didn't just sit at home and post on the CAB forum on this website.

IMO you should get yourself down to your mortgage lender and explain your financial situation, AND the current house ownership situation. Make an appointment and take all financial evidence of your monetary predicament. At the risk of sounding very harsh, I don't want to read any excuses as to why you can't at least do this, PRONTO.

They may be able to suggest something which could temporarily alleviate your financial pressure, possibly freeing up some cash so you can consult a solicitor (ie a temporarily reduced mortgage payment plan, or taking a very temporary mortgage payment holiday, or mortgage interest only payments for a while.........or something).

Apart from the above, I'd suggest putting your post on the Deaths, Funeral and Probate forum. A more appropriate place than this Over 50's Money Saving forum.

This link should take you there http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=217 If not, look in the Home & Play section, then into Marriage/Relationships/Families Forum. You'll find it there.

Methinks you are being shafted by the sons, you don't have your own legal advisor, and the sons are able to prey on your grief, lack of knowledge, lack of funds, therefore you are unable protect your interests properly, limited though this might be.

Good luck

getmore4less

It is still not clear what happened.

The issue goes back to the ownership and what was changed.

as there was a mortgage the actual equity you each got was less the mortgage NOT 1/2 the house.

eg £200k house with £100k mortgage

so 50:50 you have £50k each. and a £50k share that has a £50k debt

if they sign over to you the £50k with the £50k debt then you would own 150k worth with the £100k debt that you are liable for(as you would have been anyway if not paid off by the estate)

Onother issue here is the land reg probably won't be able to change the names while there is an outstanding mortgage.

Bottom line is if you can't afford the mortgage the palce will need to be sold.

How much was it worth at the death and how big was the mortgage?

oriental333

Again i know the house is to big and yes i know it must be sold. But its the interim that's the point.

135k is outstanding on the mortgage. If it sells for 180 then from that comes my 50 percent plus the extra third that my partner passed on to me.

The remainder is theirs. I don't have problem as to their share only that they have. Not paid anything but expect the same amount of money from the sale of the house.

That is the problem that i have. I pay they benefit. I stay i have to pay rent. They win.

As for life insurance the bank never asked as she was covered by her employer. She left her pay out lump sum to them.

No we could not talk about arrangements as her illness cancer came quick. Taking care of her was my only concern.

oriental333

Yes i did visit the bank months ago. They said that i could not borrow any more they no longer do interest only and would i like to buy a critical illness policy.

Cab said see a solicitor after looking up on their intranet site face to face