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Charging order in one of a joint owners name
tuttime
Posts: 4 Newbie
We have been a nram mortgage prisoner for years and got into large amount of debt through it , my husband at the time the debts were in his sole name and a charging order was granted.
We are now trying to sell the property and the conveying solicitors insists it has to be paid but we don’t have that kind of money and there’s no equity in the .
I have read and read and found something stating if it’s on one of the joint owners there’s nothing they can do , has anyone else dealt with this problem?.
thank you in advance
We are now trying to sell the property and the conveying solicitors insists it has to be paid but we don’t have that kind of money and there’s no equity in the .
I have read and read and found something stating if it’s on one of the joint owners there’s nothing they can do , has anyone else dealt with this problem?.
thank you in advance
0
Comments
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If the debt is in a single name and the property is in joint names, the best they can get is more like a restriction, IIRC.
https://forums.moneysavingexpert.com/discussion/1839539/charging-order-the-myth/p1
I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
What has your conveyancing solicitor said to you?1
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They say it has to be paid upfront as there’s no equity in the house I don’t want to let the poor buyer down we are 8weeks into the sale .
thank you0 -
King street , I have read this but unfortunately can’t get the conveying solicitor to listen to me , we have been paying our debts for 13 years with no end in sight just need to move on .
Thank you0
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