Tied to a mortgage??

janiebump

Hi all, just wanted some advice please. I am a joint name on a mortgage and split up with my partner whos the other name, i temporarily moved in with my mam and have now decided that i want out altogether. The only prob is in the meantime the interest rates kept rising so he has put the mortgage on a 10 year fixed rate and we are with the abbey national, i havent or never did agree to this and havent signed anything, he said it was all done verbally but how can this be without my consent. He has shown me the papers and yes its there in black and white no need to sign and return, and now i want us to sell the house they want a huge fee to come out of it and i never agreed to it in the 1st place??!! Where on earth do i stand??

dunstonh

i havent or never did agree to this and havent signed anything, he said it was all done verbally but how can this be without my consent.

It cannot be done without your consent. Abbey would have issued a new contract letter requiring both of your signatures and a witness (two in scotland).

He has shown me the papers and yes its there in black and white no need to sign and return,

Has he shown you a copy of the contract letter or the "client" copy which wouldnt require signing?

now i want us to sell the house they want a huge fee to come out of it and i never agreed to it in the 1st place??!! Where on earth do i stand??

There is a possibility of fraud here so you need to find out information first before you do anything specific. Ask Abbey to supply a copy of the contract signed that agreed to this deal. Once you have that, you can decide if you did actually sign it or whether the signature is a fake or not.

Noz

I would have thought you would have been able to agree a new rate over the phone, I'm sure I have done that in the past without requiring to return paperwork

janiebump

yes but i didnt ring them or agree to it. I will ring the abbey and ask them, there is paperwork saying no beed to return this is for your reference and no way would alan forge my signature, he wont even draw me cash out of a machine with my card. The abbey are adament that this was agreed and thats it, fixed for 10 years.

Noz

Sorry, I meant that I rang my lender to agree a new rate, the other party on the mortgage wasn't required to do it also. I am recalling from memory though .

janiebump

Thanks for that, how can it be allowed though without both parties? Thats really not on, ok if i wanted him to do it but even still surley they need a recording of me agreeing or a signature of some sort, hope i can get out of this now, i may ring cab as i didnt agree to this and as im a joint holder they should have consulted me.

silvercar

If they accept that this shouldn't have happened, they will put you back in the position you would have been, had the mortgage change not taken place. Chances are that your ex moved onto a fixed rate because the previous deal ended and the other option would be the lender's SVR. If they accept that you shouldn't have moved deals, they will probably calulate the position you would have been on based on staying with their standard variable rate. This may mean paying a backlog of interest.

janiebump

Thankyou for all replys and advice x

jill2002

It's correct - Abbey will 'fast track' the transfer to a new rate with no signatures required. I don't know what rights you have in this situation - speak to the Mortgage Centre.

With hindsight, it would have been a good idea to let them know that you are no longer together and that any mail should be sent to BOTH of you as you no longer live at the property. They could have put a note on the file of the situation.

dunstonh

Wow, a lender creating a tie in like that without getting signatures is unusual and to be honest, I cannot see how that can be consistent with treating customers fairly. How can one individual be responsible for a liability that they knew nothing about?

I would suggest that if the OP does put in a complaint, you use the phrase "treating customers fairly" in there somewhere as that is the FSAs current baby. Indeed, nearly all rules now are made on the basis of this.

Other lenders require contracts to be signed by both parties confirming you are aware of the terms and conditions. I cannot see how Abbey could be seen to be treating you fairly if they have tied you into a financial liability without you confirming you were happy for that liability to exist.