A house question

luvchocolate

Hi following futurefree thread on mortgage liability I wondered if this could help me.

B.R August 2012 discharged 1 yr later.

I will try to be brief but its complicated.
when my ex partner and I split up up in 2008 I had 3 properties mortgaged in my name, a small amount of money came from him.
He did not want the properties to br sold but we decided if he paid mortgages, council tax any thing relating to properties, I was happy for him to have the beneficial interest when the market picked up.
We had a declaration of trust drawn up at solicitors.
Fine I though I am covered....wrong He stopped all payments on on 2 of the properties and council tax they were repossessed with a massive shortfall as they were stripped of everything.
I had no choice but to go B.R...he very cleverly let the last property go into 6 months arrears then started to pay and moved himself and new partner with school age children in..which as he still had the beneficial interest he could.
As he had breached our contract I hoped it was null and void but the legal ombudsman disagreed.
The mortgage is in my sole name and there is no way to get out of this so my credit file is subject to him making mortgage payments on time..this could continue until the end of the interest only mortgage in 18 years.
The B.O.S have been no help and do not reply to my letters of concern.
Any advise would be great and so sorry for long post.

woodformoretrees

I cannot offer you any help - but wish you all the best and hope that someone will help you on this.

We're in the process of sorting out a (agreeably and happily) jointly owned property and that is complicated enough. xx

longtermplanner

So your ex is living in a house which you have the mortgage for but you have since gone bankrupt? You do not owe this money any more, your debt has been wiped out.

The mortgage lender will probably allow him to stay in the property if he carries on making the repayments, but if he doesn't it will be repossesed.

This shouldn't show on your credit record as it will not be a debt that you owe. If it does you can ask the BOS to amaend your credit file and if they refuse you can go to the Information Commissioner https://ico.org.uk/concerns/handling/ and if that fails to the Financial Ombudsman.

longtermplanner

There is another current thread that discusses a similar problem which you shoudl read https://forums.moneysavingexpert.com/discussion/comment/67279882#Comment_67279882

luvchocolate

thank you for your reply the thread you mentioned I read with interest as I thought I had nowhere to go with this..after 6 long years, actually that thread prompted me to start this thread.
B.O.S have not replied to my letters about this and as you said if he misses payments eventually...10 months it took for 1 house to be repossessed.
I really need closure on this, I had hoped my trustee would persue him for all the money owed to the B.R as he breached the declaration of trust...but they think its not worth it as he would appear to have nothing and although the house with have some equity...he would remove kitchen etc to bring value down.
I will write again in the new year.

thank you again appreciate your help

luvchocolate

bump......any other thoughts on this?

luvchocolate

After 2 months I had a reply from bos..as per terms of mortgage they are holding me responsible for ensuring building insurance and following building regs re work done there.
I have no keys to this property and not in contact with ex..police advised this due to his threats.
bos accept mortgage payments direct from ex and report to my credit file, I have written today to ask them not to report to my credit file and ask the implications of them taking money from a third party.
My trustee is unable to deal with this as the property is in trust for ex.
The nightmare continues!!!

luvchocolate

update, my trustee wrote the B.O.S also, but they refuse to stop reporting to my credit file and will hold me to the terms and cond of the mortgage, I did not accept their offer of £100.
I will now be contacting the financial ombudsman.

I did hope my trustee would persue my ex for all the debt, which is over £200,000 and take the property it would appear they do not feel it would be worthwhile.

So it seems I am stuck with situation until the interest only mortgage comes to an end...when I will be 82 years old! If I live that long with all the stress of the last 7 years.

Thank you all for your help x

glentoran99

luvchocolate wrote: »

update, my trustee wrote the B.O.S also, but they refuse to stop reporting to my credit file and will hold me to the terms and cond of the mortgage, I did not accept their offer of £100.
I will now be contacting the financial ombudsman.

I did hope my trustee would persue my ex for all the debt, which is over £200,000 and take the property it would appear they do not feel it would be worthwhile.

So it seems I am stuck with situation until the interest only mortgage comes to an end...when I will be 82 years old! If I live that long with all the stress of the last 7 years.

Thank you all for your help x

When it comes to an end what then? You still owe the money? Or have you a means to pay off the capital?

tigerfeet2006

Luv is BR so she doesn't owe the money, her ex does.

glentoran99

tigerfeet2006 wrote: »

Luv is BR so she doesn't owe the money, her ex does.

But im not sure what changes at the end of the mortgage term though