Need some housing advice. - Page 2

colin25 · 23-10-2010, 14:07

Luckily credit ratings are assigned to the person now..and not the address..or the "big red letters" letters (you know what I mean) might have been a worry.

Flyboy · 24-10-2010, 17:14

Quote:

Originally Posted by AdamD

I have no idea what it's held in, I didn't know there was a difference

I would assume it's a joint tenancy? Not sure.

But, in other news, we got a letter through the post today to say our mortgage hasn't been paid for the last 2 months and the matter has been sent to a collection agency (The letter was from the collections branch of "Santander")

He claims the bank "lost" his shares and it messed up his direct debits, but the letter can be tossed out, as they are aware of the situation and the reason we got the letter is just "Procedure"?

I don't believe him, for several reasons, namely he's been waiting outside everyday for the postman/girl for the past 3 months and the one day he isn't here to intercept the post, is the day we get the letters.

This guy is completely useless, and that's putting it mildly.

As has already been advised, now is the time to consult a solicitor. You could use this to force him to sell his share of the property to you and the other partner.

---------- Post added at 16:14 ---------- Previous post was at 16:13 ----------

Quote:

Originally Posted by colin25

Luckily credit ratings are assigned to the person now..and not the address..or the "big red letters" letters (you know what I mean) might have been a worry.

If it is a joint mortgage, all names on the mortgage deed will be affected.

---------- Post added at 16:14 ---------- Previous post was at 16:14 ----------

AdamD, do you have seprate mortgages, or is it just the one mortgage?

AdamD · 24-10-2010, 17:26

It's just one mortgage, all our names were put down on said mortgage when we took it out.

Flyboy · 29-10-2010, 01:54

So, why is the mortgage in arrears? Whose account does the payments come out of.

AdamD · 31-10-2010, 23:26

Quote:

Originally Posted by colin25

Luckily credit ratings are assigned to the person now..and not the address..or the "big red letters" letters (you know what I mean) might have been a worry.

Well being the paranoid one, I checked my credit rating on experian.

My credit score/rating has dropped by a couple of hundred points and there's a note on my report/score that there's 1 months of arrears on the mortgage.

So it does affect all of us, it seems.

Flyboy · 01-11-2010, 12:23

That's because, if it is a joint mortgage, you are jointly and severally liable for any defaults on the loan.

Who is responsible for making sure the mortgage is paid?

AdamD · 01-11-2010, 15:20

Quote:

Originally Posted by Flyboy

Who is responsible for making sure the mortgage is paid?

The uncle.

Flyboy · 02-11-2010, 00:12

That is easily changed. Write to the mortgage company and ask them to set up a new direct debit in your name, at least then you can keep control of the payments. They will be happy that someone else is taking responsibility. However, at this stage, you have no legal recourse to force him to pay anything towards the mortgage. You really need to consult a solicitor to help with your attempt to buy him out.

This is perhaps a salutary tale (if not a pointless observation), about sharing property and not setting it up as tenancy-in-common and ignoring the possibility that someone won't stand up to their end of the bargain.

AdamD · 02-11-2010, 05:08

We can't buy him out, we don't have the money for it

And even if either my dad or I took over the payments, there's no telling if he'll "accidently" forget to pay US, then we'd be in debt.

The only option I can think of right now is to sell up, I think we're both at the point of not caring what happens to our credit, or the house itself, we just don't want to live with him, he's....well there are no words to describe what a waste of space he is.

TheDaddy · 02-11-2010, 07:47

Quote:

Originally Posted by AdamD

We can't buy him out, we don't have the money for it

And even if either my dad or I took over the payments, there's no telling if he'll "accidently" forget to pay US, then we'd be in debt.

The only option I can think of right now is to sell up, I think we're both at the point of not caring what happens to our credit, or the house itself, we just don't want to live with him, he's....well there are no words to describe what a waste of space he is.

You never know you luck, he might burn the house down when your all out next time!!

superbiatch · 02-11-2010, 09:53

Quote:

Originally Posted by AdamD

We can't buy him out, we don't have the money for it

And even if either my dad or I took over the payments, there's no telling if he'll "accidently" forget to pay US, then we'd be in debt.

The only option I can think of right now is to sell up, I think we're both at the point of not caring what happens to our credit, or the house itself, we just don't want to live with him, he's....well there are no words to describe what a waste of space he is.

If he defaults paying you and you have a record say for instance a bank statement, this can add weight to your argument to buy him out in future. Don't give up, its hard work but to keep your credit rating protected for future is important as you're only young (I'm assuming that because you're living with dad) and will want your own mortgage at some stage.

Flyboy · 02-11-2010, 14:56

Quote:

Originally Posted by superbiatch

If he defaults paying you and you have a record say for instance a bank statement, this can add weight to your argument to buy him out in future. Don't give up, its hard work but to keep your credit rating protected for future is important as you're only young (I'm assuming that because you're living with dad) and will want your own mortgage at some stage.

Not really. The uncle has no responsibility pay the OP anything at all. It is a joint mortgage held on a jointly owned property.

---------- Post added at 13:56 ---------- Previous post was at 13:53 ----------

Quote:

Originally Posted by AdamD

We can't buy him out, we don't have the money for it

And even if either my dad or I took over the payments, there's no telling if he'll "accidently" forget to pay US, then we'd be in debt.

The only option I can think of right now is to sell up, I think we're both at the point of not caring what happens to our credit, or the house itself, we just don't want to live with him, he's....well there are no words to describe what a waste of space he is.

You will need to "buy hm out" at some point, whether you give him the value of his "share" and he leaves, or when you sell the property, you will need to give him his share of the proceeds (effectively "buying him out" of the deal).

It is time for you to consult a solicitor Adam, I don't think anyone on here will be able help any further, other than give you lots of empathy and support.

superbiatch · 02-11-2010, 15:01

Quote:

Originally Posted by Flyboy

Not really. The uncle has no responsibility pay the OP anything at all. It is a joint mortgage held on a jointly owned property.

I was told that by a solicitor when divorcing my ex who didn't want to continue paying the mortgage

AdamD · 30-11-2010, 17:59

Thanks all for the advice.

My credit report now shows two late payments, not sure if there's any late ones this month so far.

But we've had numerous debt collection companies calling for my uncle of late, Amex, Albion, Risk Management Alternatives, Lloyds Gym and another who's name I forget.

Everytime they call here, he rushes to the phone and says "No David isn't here at the moment".

We had a call 10 minutes ago and the conversation went like this.

David: Hello?
David: No, who's calling?
David: Oh, no he's not here at the moment
David: I'm his brother...no, he hasn't told me about that.....really? No I had no idea
David: How did you get this number? Well he hasn't had email in years, so that can't be right, does he know what this is about?....well I had no idea, but he's not here, so you'll have to call back later.

He hangs up and usually repeats that type of conversation the next day when they call.

We've confronted him about it and he always has an excuse and it's usually someone elses' fault, be it his partners, the banks, or some "miscommunication".

So, I have a question

When we bought this house, the mortgage was 138k and my dad put down a 40k deposit.

If the debt collectors come calling, could they take (A) the house and (B) the original deposit my dad put down?

danielf · 30-11-2010, 18:13

Quote:

Originally Posted by AdamD

So, I have a question

When we bought this house, the mortgage was 138k and my dad put down a 40k deposit.

If the debt collectors come calling, could they take (A) the house and (B) the original deposit my dad put down?

Adam,

At least 5 people told you to get a solicitor when you started this thread. I presume you haven't done this, otherwise you wouldn't be asking this question. You really need to see a solicitor ASAP, or you could find yourself in serious trouble.