Girlfriend is taking out and paying a loan for her brothers wedding?

Glennn

You could do worse than show her this thread so she can see other views on it. The fact everyone has agreed it's a bad idea might just make her think twice?

jaydeeuk1

Spicy_McHaggis wrote: »

Why are you posting on two accounts here?

One to rant and another to ask questions.

Its the same walter mitty idiot who posts boll0cks on the motoring board, pretending to have an M3, then pretending to buy a lexus, so this thread is no doubt complete crap too and just a waste of everyones time.

He went by the name darkmatter, and has now appeared under various guises before all being banned.

https://forums.moneysavingexpert.com/discussion/5065087

Is just one example of his rubbish (post 46 is where he is rumbled but the whole (short) thread worth a read.

force_ten

Spicy_McHaggis wrote: »

Why are you posting on two accounts here?

One to rant and another to ask questions.

because he is a sad lonely waste of space who really needs to get out more

this guy is so full of it but obviously not concerned that people can see his wildly contradicting posts by searching post history

it will only be a darkmatter of time before he is ppr,d yet again

force_ten

jaydeeuk1 wrote: »

Its the same walter mitty idiot who posts boll0cks on the motoring board, pretending to have an M3, then pretending to buy a lexus, so this thread is no doubt complete crap too and just a waste of everyones time.

He went by the name darkmatter, and has now appeared under various guises before all being banned.

https://forums.moneysavingexpert.com/discussion/5065087

Is just one example of his rubbish (post 46 is where he is rumbled but the whole (short) thread worth a read.

that is the one darmatter was banned from the boards and this is his latest sad reincarnation

Spicy_McHaggis

whitecloud663 wrote: »

Yes I'm Darkmatter101.

Incorrect, my dad drives an old Toyota.

Look who it's if folks.

spidereyes

whitecloud663 wrote: »

We do have a joint bank account and joint mortgage. The loan will in no way be in my name, however if it cannot be repaid for whatever reason, can they pursue the flat in spite of the fact my name on on that too?

In effect, yes they can!

If your GF defaults on the loan and fails to make repayments then the bank can apply for a Charging Order against your JOINT property.
In some circumstances the courts can even award the creditor an order of sale which legally forces the sale of the property (although unlikely for the figures we are talking about).

If a charging order is secured against the property then any debt would need to be repaid upon sale of the property, this eats into your JOINT equity and I note that you paid 70% deposit. Should your property not have enough equity in it to repay the debts then the creditor can refuse the sale.
This really does affect you both if you do not believe that she will be able to make the repayments.

Whilst we are on the subject, I know you mentioned that your GF is getting staff rates at the banks; I believe in some financial institutions that defaults on non repayments etc can actually affect your position in the firm. Worth considering.

Spicy_McHaggis

spidereyes wrote: »

In effect, yes they can!

If your GF defaults on the loan and fails to make repayments then the bank can apply for a Charging Order against your JOINT property.
In some circumstances the courts can even award the creditor an order of sale which legally forces the sale of the property (although unlikely for the figures we are talking about).

If a charging order is secured against the property then any debt would need to be repaid upon sale of the property, this eats into your JOINT equity and I note that you paid 70% deposit. Should your property not have enough equity in it to repay the debts then the creditor can refuse the sale.
This really does affect you both if you do not believe that she will be able to make the repayments.

Whilst we are on the subject, I know you mentioned that your GF is getting staff rates at the banks; I believe in some financial institutions that defaults on non repayments etc can actually affect your position in the firm. Worth considering.

There probably isn't a girlfriend, loan or flat with his previous form.