Showing results for tags 'house'.
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My Girlfriend is selling her house, and her parents are also selling with the intention to move in together so we can care for them. Ownership would be 60% my girlfriend, 40% her parents. The parents are mortgage-free, My girlfriend's mortgage would be carried over to the new property, and form approx £130k of the house's worth of £770k. Her bank has just asked for a seemingly unfair if not impossible requirement! Her parents are to sign that they don't own any portion of the house. The house will be in My girlfriends name as she has a mortgage running on it. However, the parents are also required to sign to guarentee the mortgage should my girlfriend default? This just seems wrong from both ends? It's also possible to extrapolate from this that if they were to sign that they have no ownership of the house, then they would have gifted my girlfriend their 40% which at £300k plus would entail a taxable sum? Surely it can't be impossible to have two owners of a house and one source of mortgage repayment? Especially given that the mortgage forms 35% of that owned share? It also seems wrong that the parents should sign away ownership and yet still be liable for default? Has anyone seen this situation before or advise if it's correct or wrong? My suspicions are that with the complication of selling two houses, then conjoining into one with shared portions, someone in the banking process has assumed that the parents are not contributing financially and as such must state they have no claim on the house? Thanks.
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I own a home with my wife and desperately need to move due to size as we have more kids on the way. Since buying my home 7 years ago there are a string of defaults etc on my file, unsecured and in the main unsettled, but being paid by arrangements. I have been stupid and irresponsible, for the last 6 years, building up a debt of £25k to various loans, cards, payday lenders etc. This can only be put down to me being an idiot! Missed payments are on unsecured stuff, mortgage has never faultered. The current home is worth £200k, and i owe £120k to standard Life now woolwich. £80k equity that i would love to use to pay off my £25k debts and use the remainder to use as a deposit on the new home. my earnings are now good £50k pa + £10k regular bonus, with my wifes part time work bringing in 18k. wifes crredit is good but with about £6k in loans, but never missed. Is there any suggestions for how i could get a lender / broker to assist with this situation on moving home many thanks
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could you good people qive views on what may in time become likely senario. now no assets at all,,making token £1. payments,,, if inherit house,,i become asset rich but still cash poor,,,but my own place to live, how would this in your opinion afect dealings with collectors if they knew i had saleable asset, a...would they try force me to sell home to pay... b..would they still offer f/f if could find funds,,, c...or simply try to bankcrup me to sell my home n pay em:evil: d..just keep on token payments as still id have no more cash even though id have home... thks you good folk in antisipation
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Hi, My son has recently had to submit an Insurance claim for a burst pipe in the bathroom and damage to his kitchen ceiling. A loss adjuster has been instructed to come out to view. We have asked if his father can meet the loss adjuster as my son has recently started a new job and is in the middle of a 3 month trial. He knows the company don't look kindly on people having to take days off. The insurance company said my son would need to sign a mandate, however the loss adjuster rang him yesterday at work (even though we had specifically asked them not to) and said that he HAS to be there when he makes his inspection. He said that as his father has no financial interest in the property he cannot speak to him. My son works approx 30 miles from home so it isn't as though he can nip home at lunchtime or such, it would mean asking for a half day off which he desperately doesn't want to do. Just wondering if this is something he has to comply with. Thanks
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Hi. I have a mortgage with GMAC for which the outstanding balance is £118000, a secured loan with Picture for £42000 and 3 charging orders...Lloyds TSB £4500, Moneybarn £6000 and for a water charge of £1800. I want to sell my house which is now only worth aroud £115000. I have received an offer of £105000 from a cash buyer. I have spoken to Gmac who have agreed the sale, Picture have also agreed it with a proposal to pay. My questions are: Will the presence of the charging orders prevent me from selling? And will my prospective buyer be informed of my secured debt and charging orders? The buyer is a family member and thus I do not want them knowing my position. Any advice will be welcomed. Thanks
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My wife died just over a year ago. The house we live in was bought in her name only, and the mortgage is in her name only. I obtained Probate and I am the beneficiary of all assets and debts. Last week I phoned up the lender - assuming it would simply be a case of switching the deeds and mortgage to my name and continuing payments. I was concerned when the person said that in those situations they usually required the mortgage to be repaid - which i couldn't do without selling the house - and I would have no-where to live. Despite my late wife owning the house/mortgage, ALL monthly payments have been from MY account and have never been missed. Anyone have any advice on this? Thanks
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This is great, type in your postcode and the advert will run, but on some scenes it will use Google street scenes and taxy past your house. http://taxi.ba.com/ -
can someone please point me in the right direction.. I have had a charge put on my property by Weightmans,due to Marlin Europe l Limited on behalf of an overdraft with yorkshire bank. i requested a payment card from Marlin but never received anything also i never received anything with account numbers nor bank details to send payment too,it was then refered to weightmans who again never supplied account details....so after stupidly ignoring them ive now have an interim charging order for £ 3,611.69. It goes to a court hearing on the 19th july 2012. Is there anything i can do before the 19th july that can stop this charge being applied,i do not want a fairly small debt to jeopardise my home. any help would be appreciated:|
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I posted about my issues with a co owner of this house, back in June 2011. http://www.consumeractiongroup.co.uk...father-at-risk To cut a long story short I co own a house, with my father and uncle The house has a tenants in common house deed, it was purchased for £180,000 My father put down a £40,000 deposit, making the mortgage some £700 a month, for £140,000. (£20,000 was also spent by my father and I, on updating the house) The mortgage was supposed to be paid by myself and my uncle. The uncle stopped paying his share back in October 2010, we didn't find out till April 2011, as he'd been intercepting the mail and phone calls, we only got wind of the problem when he happened to be out one day and WE got the mail about the arrears (Some £4500ish) The uncle moved out in May 2011 and we've been paying off the arrears and mortgage, by renting out two rooms in our home. Here's the problem. We have no trust deeds setup on the property/equity, which I believe we should've got when we purchased it. We obviously weren't expecting things to go pear shaped, but I want to sell the house, because we barely scrape by each month and we can't remortgage to get the uncle removed from the deeds, because my dad is now to old to get a mortgage in his name AND because all our credit has been ruined by him keeping the arrears hidden from us for half a year. But, if we sell and have no trust deeds, does that mean each of us gets an equal share? Or would my father get back his £40,000? and the £20,000 spent on updating? My uncle never put anything into the house, money wise, so I'm wondering if there's a way to sell, without him getting anything, given how much of a mess he's left us in
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hi, not good on pc and spent 2 days trying to post on here so please forgive if its in wrong place. im part disabled and like lots of people badly in debt. i have a main mortgage with abbey, this is paid via dwp and is in fact in front with payments due to the interest rate. i have a 2nd charge on the house with future mortgages, yes not good. the house is valued at around 80k. i owe abbey 75k and furure 55k. so i have negative equity for around 48k. every month is a struggle and health food and everything is really bad as its so difficult paying future there 450 per month.. if i was to look at bankrupcy what would happen i dont want to loose the house. there would only be about 7k left for future morgages if the house sold for 80k. im not trying to default as if i was i would have walked away from the house a long tim ago. can any one offer some advice thank you
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Hi, Wondered if you could help me at all? Two years ago my husband and I split up after 25 years of marriage. All is agreeable and amicable. He agreed I can have the house, I paid him a sum of money, car , bike pension etc. My question is this, can I get his name removed from my deeds without going through a solicitor and encountering a large fee? Also can we get a divorce without people telling us what we have to split? as we are quite happy with things as they are. Your help is much appreciated. Sonja
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Hi I am new to the forum so apologies if I have posted in the wrong place. I was wondering if someone could give me advice? Background: In 2010 my house (which I tried to sell off and on for 7 years) was taken of my hands by a guy who offered a lease option on our home. Basically he was meant to pay the mortgage and secured loan for a period of 6 years, rent it out in the meantime then buy the house at the end of the period. My wife and I moved into privately rented accommodation with our children. We found out christmas 2010 that the guy in question stopped paying the mortgage and subsequently went bankrupt. He had never paid the secured loan either so we ended up reinstating our DD for that earlier in the year. The guy in question also moved in non-paying tenants who refused to leave, so even if we wanted to move back into the property, we couldn't. To cut a long story short, we could not afford rent, secured loan and mortgage and the house was eventually repossessed Feb 2011. Today we received a letter from the bank stating they've had an offer for the house and there would be a shortfall. I'm estimating the shortfall to be approx £20,000 We are not wealthy people, and simply can't afford any shortfall. We have no assests for them to repossess either. My questions are: 1) What happens if we refuse to pay the shortfall? I know they can slap a CCJ on our files and threaten/force bankruptcy, but how likely is that? 2) We are still paying the secured loan on the property. I am starting to resent it now in all honesty! What happens if I stop paying it? It's not like they have a house to repossess? 3) We don't want to go down the bankruptcy route. However would we be able to take out an IVA taking into account the mortgage shortfall, and the secured (soon to be unsecured) loan? Any advice would be warmly welcomed!
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i have got behind in our mortgage repayments and been in constant contact with NRAM. They told me that they would charge £90 if I refused to meet their 'field rep' so I called the 'rep' some weeks ago and arranged a meeting. I was to meet him at my local library but he didn't turn up but instead went to a different library in another nearby town. He says he phoned NRAM and told them I didn't show. Is he just playing games to wind me up or is there any point to his shenanigans? Anyone had a similar experience?
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Hi All I have been hit with a Companies house penalty of £375. Just hoped someone in the forum knew of succesful appeals and what grounds are best to use. I personally do my own accounts, on a start up company, and was away for 2 months hence didnt read the notice in time. Any advice would be great Thanks AR
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I am really needing some help. I have a house valued at £110,000 and a mortgage of £105,000 which I may need to sell. The only problem is I have a secured loan of £34,000 on my home through Picture (or whoever they are now) which has arreas of £650 and they will only get bigger as I am no longer able to afford the loan. What I am wanting to know is am I allowed to sell my home even though the secured loan won't get paid off. I am intending to rent if I can sell my home. Any advice would be much appreciated. I don't want to sell if I don't have to but will Picture?? take my home even if they won't get any proceeds from the sale.
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