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LJW_2
Posts: 354 Forumite
Hi, i may be getting my house and mortgage in my name, reason being is that my husband has a debt of £24000 from an old mortgage!! We didn't know of this until recenlty and are now worried about losing our home.
If I do manage to get the house in my name would the courts be able to touch it if he still lives there?
Also don't know if this is an option but have tried to settle this dept with an offer through the CRB but was refused. The CRB said they may be going for the money from our house??
Any advice would be greatly accepted
If I do manage to get the house in my name would the courts be able to touch it if he still lives there?
Also don't know if this is an option but have tried to settle this dept with an offer through the CRB but was refused. The CRB said they may be going for the money from our house??
Any advice would be greatly accepted
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Comments
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For dept read debt
The creditors will only be able to take things that belong to your husband (in full or in part).
GGThere are 10 types of people in this world. Those who understand binary and those that don't.0 -
they may ask about asset deprvation0
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You need to be clearer about what is happening. If you both currently own the house but you are trying to put it in your sole name then that could be construed as an attempt to avoid this debt. If you don't yet have a house but are considering buying one then yes you could put it in your name alone but then the mortgage would have to be in your name alone too.Hi, i may be getting my house and mortgage in my name, reason being is that my husband has a debt of £24000 from an old mortgage!! We didn't know of this until recenlty and are now worried about losing our home.
If I do manage to get the house in my name would the courts be able to touch it if he still lives there?
Further, I would only be "worried about losing our home" if you can't make an arrangement with this old lender that you can't keep.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Hi, we bought the house in June last year in both our names. My worry is that they will think we have put it in my name to get away with the dept. I am worried that they will put a charge on the house but not sure of the timescales that this takes.
What would be great is if they dept company agree a lower rate which is more achievable to pay, do you think we should offer this?0 -
If they put a charge on your house, it means they will get the money when you sell.
How long ago was the repossession? Have you acknowledged the debt?I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, mortgages and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Have a listen to the Radio 5 Live Report I posted a day or so ago. You aren't the only person this has happened to. At present lenders must be under pressure to minimise bad debt and their arrears departments will be hard pressed. Your husband's name appearing on a property may have been a flag to them that he may have some money to pay his old debts.Hi, we bought the house in June last year in both our names.
Oh yes, I'm certain that if it came to a court hearing their lawyer could suggest that case.My worry is that they will think we have put it in my name to get away with the dept.
I don't know how the old lender will actually go about this. I don't even know if it's the arrears department that would deal with it, it probably varies from lender to lender and it could have been sold on, though not likely with UK mainstream mortgage lenders. What have they actually asked you for and how have they calculated it? You may do better asking for help on the DebtFreeWannabe section and going to someone like the CAB.I am worried that they will put a charge on the house but not sure of the timescales that this takes.
What would be great is if they dept company agree a lower rate which is more achievable to pay, do you think we should offer this?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
As silvercar says how old is this debt and when did you last acknowledge it.0
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Hi, we bought the house in June last year in both our names.
So any transfer to your sole name could be looked as an attempt to avoid the debt!RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0 -
It is extremely likely that you will not be able to transfer into your name only and it is extremely likely that a charge will be placed on your property.
You will not lose your home though.....as the charge will be settled when you move. (unless of course your house is about to go into negative equity)
Go see a solicitor.....you can get half hour free from most of them. They will tell you the ins and outs.0 -
Hi all, thanks for the above advice from everybody. In answer to questions above as the CAB have been dealing with this through court I guess that the mortgage company are in time to do this. The court has now given a Money of Judgement for £24000 which is also added interest. I am hoping that the CAB have been effective in some way but not completely sure??
I have booked to see a solicitor next Monday0
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