We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Repossession question

iolande
iolande Posts: 88 Forumite
in Mortgages & endowments
If a mortgage is registered against a property after matrimonial home rights have been registered, what happens to the home rights once the property has been repossessed?

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The lenders rights to repossess the property take precedence. Making the home rights valueless.
  • iolande
    iolande Posts: 88 Forumite
    So your spouse can take out a mortgage after you put in a home rights notice and ensure that it is repossessed? What's the point of a home rights notice then?
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Can't get a mortgage if the home rights were first
    What does the registration of home rights mean for Lenders?

    Once home rights have been registered they act as a charge on the property resulting in the registered proprietor being unable to sell or mortgage the property unless written consent has been received from the spouse in whose favour the right is registered.
    Changing the world, one sarcastic comment at a time.
  • iolande
    iolande Posts: 88 Forumite
    They can and they did. With their parents.
  • iolande
    iolande Posts: 88 Forumite
    The home rights are still on the deeds after repossession
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    iolande wrote: »
    So your spouse can take out a mortgage after you put in a home rights notice and ensure that it is repossessed? What's the point of a home rights notice then?

    If you are inferring wrong doing of some kind. Then that is another matter.
  • stator
    stator Posts: 7,441 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    iolande wrote: »
    They can and they did. With their parents.
    Check with the lender if their signature was forged
    Changing the world, one sarcastic comment at a time.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.7K Work, Benefits & Business
  • 600.1K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture