Unilateral notice

barronclonk

Hi this is a tricky one , so i think it is essential i start at the beginning
In 2005 me and my ex partner were having some issues and decided to part company ...
I , along with my two children remained in our home which is jointly owned by me and my ex partner.
shortly after we split up i received a loan agreement through the door , as far as i could see the loan was secured against our home and was issued to myself and my ex partner by black horse finance .... The problem was i had no knowledge of taking out a loan

I contacted Black Horse finance and explained that i had not signed the agreement and that i had no knowledge of the loan .

I then contacted my ex -partner who along with a rather nervous Black Horse employee spent three months trying to convince me to sign the loan agreement , they used every trick in the book and tried to get me to say i had agreed to my ex signing the loan agreement for me but i refused ..

I had been expecting Black Horse to deal with the issue , however after approx 10 months i started to receive default notices , the default notices were for the loan , I again called Black Horse finance , they told me that it was and issue for the police .

I called the police , and to cut a long story short my ex was convicted of fraud , he was issued a court order and instructed to re-pay the loan at a amount of £20.00 a month.
(I managed t get a copy of the order from the bank )

My name had been removed from the loan .

In 20013 purchased a copy of the registry on my home , I needed to put the house up for sale , There were two charges on the register the 1st is the original mortgage and the 2nd was a charge registered as a restriction for Black Horse Finance

Yet again I contacted Black Horse Finance , they told me the charge would remain on the property until the debt was repaid . My ex partner had not made any payments on the loan what-so-ever and ignored the court order . The loan by this time had increased dramatically , it was now £26.000 .

After seeking legal advise I managed to get the charge removed .

I have received a letter saying that Black Horse has applied a unilateral notice on the register , i have the house up for sale but the equity in the house is not enough to cover the debt .

I have had a letter from black horse stating that they will only be seeking to recover the debt from my ex partners share of the equity but his share will not cover the amount he owes ..so i find my-self in limbo now ... what if anything can i do now ...

I will not be able to sell the house if the unilateral notice is not removed I have been in contact with my ex who will not help and wants nothing to do with any of it .

I have been paying the mortgage for 12 years and it appears that i will walk away with nothing

I have just moved out and am paying two sets of bills , I want to do the right thing as i don't want a ccj hanging over my head if i just walk away but i am stuck as what to do next ... My partner left a mess behind him and It seems i am being punished ... I am left cleaning his mess ...it seems so unfair .

Any advice or help would be appreciated





I

Thrugelmir

Have you sought legal advice yourself?

ACG

Are you saying they will not allow you to sell the property and only take half of the proceeds?

barronclonk

Hi ..I think that is what they are saying , its not that i am not allowed to sell the house its just that , the notice will not be removed if the my ex's equity does not cover the debt. Its a catch 22 situation they are only looking to take my ex's share to pay the debt but they know that its not enough so just to sell the house I will have to give them my share of they equity just so they will remove the notice and the house can be sold .

its bizarre ... cant get my head around this one

barronclonk

Thrugelmir wrote: »

Have you sought legal advice yourself?

I have , but i am beginning to think its not worth it any more and maybe its time i cut my losses and walk away ...

barronclonk

ACG wrote: »

Are you saying they will not allow you to sell the property and only take half of the proceeds?[/QUOT

Hi ..I think that is what they are saying , its not that i am not allowed to sell the house its just that , the notice will not be removed if the my ex's equity does not cover the debt. Its a catch 22 situation they are only looking to take my ex's share to pay the debt but they know that its not enough so just to sell the house I will have to give them my share of they equity just so they will remove the notice and the house can be sold .

its bizarre ... cant get my head around this one

stator

Does your husband have any assets or equity now that you could sue him for?

How much equity do you think you have in the house?

ACG

barronclonk wrote: »

Hi ..I think that is what they are saying ,

Double check with them. It doesnt sound right as they are opening themselves up to a complaint.

You can not be out of pocket due to their mistakes. So I would double check and advise them that you will make a complaint to them and take it to the ombudsman if needed.

audigex

You need professional legal advice, an official complaint and to contact hte ombudsman: but as you haven't signed anything to put the house up as security, you should be able to argue successfully that they don't have the authority based on his signature alone to place a charge on the house.

The fact they gave your ex money without being legally able to use the house as security is their problem.

Mokka

I agree. We've used Financial Services Ombudsman in the past and they are really good and helpful.

barronclonk

audigex wrote: »

You need professional legal advice, an official complaint and to contact hte ombudsman: but as you haven't signed anything to put the house up as security, you should be able to argue successfully that they don't have the authority based on his signature alone to place a charge on the house.

The fact they gave your ex money without being legally able to use the house as security is their problem.

Hi I have had legal advice and you are right, Black horse finance did not have the authority to place the charge on the house and thus removed it after i made a complaint, this is where i begin to get confused , they removed the charge then placed a unilateral notice on the register , I am not quite sure what this means and what the difference is between a charge and unilateral notice but as far as i can see there is very little difference as to the effect it has when selling your home .
I am still reading the literature on unilateral notices but cannot easily spot the difference ..:(:(