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Equity in House
Scotsgirl
Posts: 85 Forumite
Had appointment with CCCS and starting DMP 1 November they were very helpful and non judgemental
However we have one concern, partner has a large debt personal unsecured loan with the bank, can they take our house ? There is some equity but the mortgage is in 3 names
Can anyone give any advice
Thanks
However we have one concern, partner has a large debt personal unsecured loan with the bank, can they take our house ? There is some equity but the mortgage is in 3 names
Can anyone give any advice
Thanks
0
Comments
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From what I've read on these boards as long as it is unsecured they cannot touch the house. There may be odd exceptions, I honestly don't know but there are alot of wise people on this board who will no doubt be able to answer your question properly.0
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Probably not, we need a bit more detail. To take the house they would need a charging order, with three owners and a small amount of equity I doubt if they could make it stick. Never turn unsecured into secured. Can we have details of the debt?"YOU WANT THE CASH? YOU CAN'T HANDLE THE CASH"0
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thanks for replies
29k outstanding with 5yrs remaining of 7yr term with RBS0
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