intrim charging order

confused8619

Hi, I hope someone can give me a bit of advice.

My husband bought our home with an ex years ago, he put down the deposit and has always made the mortgage payments, she has never paid anything towards the house/mortgage.
The property is in negative equity of approx £5000.

Last week his ex signed a transfer of equity in order for myself to go on the mortgage with my husband instead of her, this has now gone to the mortgage underwriter (Halifax) to be approved.

This morning my husband has received a letter from a debt collection agency saying that an intrim charging order has been put on the house due to a £6000 motoring debt that his ex has. We had no idea about this debt and will obviously be contesting the order in court as we live here with our two small children.
What I would like to know is if the intrim order will now stop the transfer of equity going through?

Stressed/angry/confused!

Any help appreciated

Thank you

sourcrates

Hi,

That's a very subject specific question, I think you would be better off posting anything of a legal nature on here :

http://legalbeagles.info

As they are more geared up on the legal side of things.

National_Debtline

Bit of a tricky one. An interim charging order would normally make a sale very difficult as the creditor is trying to secure the debt against the property. A charging order does not mean you would lose your home, the debt is just secured against the property so when it is sold they get their money back. If the property is in negative equity anyway then the ex partner will probably need to come to an additional/alternative arrangement with the creditor anyway to pay back the money owed.

It may be help to find out when the CCJ was granted against the ex partner...does it pre-date the document signed by them to transfer the 'equity'? If this was the case, would it help argue against the final charge? It may boil down to how cooperative the creditor and the ex partner are willing to be. Good luck


Laura
@natdebtline