Joint Account - Help please

london_33

Hi

I purchased a house with a friend in 1995 and set up a joint account for all the bills etc.  I sold the house to them left the joint account open (not sure why!).  I finally decided to close the account but the bank (Natwest who I have my own account with) have advised they need both account holders to advise this.  The issue is the house was sold in 2016 and I have no way of contacting the account holder who I believe has gone abroad.  

Would anyone know how I can resolve the issue please?

Mark_d

Is there anything to be gained by closing this account?  I guess it doesn't have any kind of borrowing/overdraft facility so what are the risks of leaving it open?
It nice to hear that you bought a house with a friend, sold it to them and then they sole the house again some years  later.  Is this related to the issue of you trying to close a joint account?

PRAISETHESUN

As long as the joint account exists, OP is financially linked to this other person. Their credit history (good or bad) can be factored when OP applies for new credit in future. With a potentially thin file by virtue of having moved abroad, it could cause OP issues.

Could be worth asking the bank if they will remove OP as a named account holder if they won't close the account. At the very least I would want to have the account frozen, to ensure that nothing can be done by the other party that could affect the OP.