Unilateral notice

barronclonk

I contacted the financial ombudsman , and it seems that black horse are legally entitled to place the notice on the register , as my ex has an interest in the house , but it still seems so unfair . If I walked away and waited for the house to be repossessed then , the house might go for no where near enough to pay of my ex partners debt , the mortgage would be payed off before any one one got any money and Black Horse are unlikely to receive a penny .
We are talking about a mid terrace here not a mansion .
£ 21000-26000 debt , around £ 20.000 equity in the house (at the most ) I am not very good at maths but I am able figure out that there will not be enough money to pay the debt from my ex-partners share of the equity .

I don't why Black horse are being so difficult , if we worked together we might actually get somewhere ... I no longer care about the money I would just like to move on sell up and forget about the whole thing .. until this is resolved I am stuck paying two sets of bills ...its a struggle and I am getting into debt as a result ... at my wits end :eek::mad::(

silvercar

It may well be that black horse have put the charge on the property to ensure that your ex's proceeds from the sale go to repay his loan.

So when you sell, your ex's share of the equity go to black horse and they remove their charge. They can then chase your ex for the remaining loan money, but that is a matter for them.

From their point of view, this is the only way they can guarantee getting hold of your ex's share to repay the loan.

barronclonk

That is what I thought yet Black Horse have said that they will not remove the charge until the debt is repaid ... I will gladly give them his share but they are insisting that they want more than what that will be , to remove the notice they have a settlement limit which is 21000 they are asking too much and i will left out of pocket ...

audigex

You need a good solicitor

barronclonk

audigex wrote: »

You need a good solicitor

I know ...Its looking that way ...

Dave_Ham

This starts and finishes with a competent solicitor.

There will be a deal to be done for sure, although you need to weigh up the cost of a solicitor and the potential upside of some equity once they ensure Black Horse act reasonably.

Best of luck

barronclonk

Dave_Ham wrote: »

This starts and finishes with a competent solicitor.

There will be a deal to be done for sure, although you need to weigh up the cost of a solicitor and the potential upside of some equity once they ensure Black Horse act reasonably.

Best of luck

I have been advised to put the house up for sale , and then its will left up to the solicitor dealing with the sale to sort things out with Black Horse ... Nothing more I can do now accept rely on luck and hope the solicitor is as good as people say he is ..thanks