Need some housing advice. - Page 9

TheDaddy · 05-05-2011, 20:32

Once he is out you might want to get a notice of disassosiation so any further debts he runs up don't impact on you or your credit worthyness.

AdamD · 05-05-2011, 20:33

Yea I was thinking the same, I have a feeling he's told them they can have his share, for 70k and he'd be part owner of the house

I have no idea, but I do know he doesn't have Â£3000 to simply pay off the arrears, so I'm wondering if his partner or her brother in law has paid him money for it.

**Maggy** · 05-05-2011, 20:38

Quote:

Originally Posted by AdamD

Yea I was thinking the same, I have a feeling he's told them they can have his share, for 70k and he'd be part owner of the house

I have no idea, but I do know he doesn't have Â£3000 to simply pay off the arrears, so I'm wondering if his partner or her brother in law has paid him money for it.

They are bigger idiots than he is if that's the case.

Frankly your Uncle is a conman and appears to have committed fraud.If it were me I'd dob him in to the police especially if he is picking up benefits..

MovedGoalPosts · 05-05-2011, 20:40

If any transfer of even a part ownership of property is going to have legal standing then it will need registering against the title. Whoever did the conveyancing for that should swiftly find the mortgage charge against the property which would prevent a transfer of any title until the mortgage agreed. Clearly they are not going to agree unless the debts are settled and a new mortgage allowed with the new owners, something that seems rather unlikely to happen.

Bottom line here whatever hair brained scheme he might be considering, wouldn't stand real scrutiny, and unless he is prepared to sit down with leagl advisors, yourselfs and the mortgage company to come to some binding agreement this is going to go round and round in circles until the inevitable repossesion of the property.

AdamD · 05-05-2011, 20:40

I don't know for sure, because he makes a point of staying out of the house now

He leaves at 6:45am and comes back at 10:30-11:00pm.

I suspect he's promised them his "share" of the bungalow in exchange for cash, perhaps to just pay off the arrears (Â£3000) and he's going to try and have his name removed from the deeds or mortgage, which should be interesting.

borrissey · 05-05-2011, 21:51

What's the hosue valued at, is it worth more than you payed for it?

You should be able to rent cause they ask for bond and a months payment up front.

AdamD · 05-05-2011, 21:53

House cost 180k
House is currently valued at anywhere between 205, to 215k.
mortgage was 140k

borrissey · 05-05-2011, 22:57

Whens your uncle moving out?

AdamD · 05-05-2011, 23:07

He hasn't said, heh

Just waiting to see if he sticks something else stupid under my dad's door.

borrissey · 05-05-2011, 23:13

Not a good way to treat your brother, that's the problem and the risk when relatives go into joint mortgages problems can arise.

Let's hope you can get it all sorted eventually but it's going to take a while, then hopefully you can buy another smaller house you and your dad.

AdamD · 05-05-2011, 23:22

Me to, as this is stressing my dad out quite badly, he's in remission for cancer and has proper angina, so this isn't doing his healthy any good.

Wayfair · 06-05-2011, 09:45

So let me get this right, you and your dad paid him every month and he stole the money and never bothered to pay the mortgage?

Or did you all pay into a joint account and it never got paid as there was always a shortfall?

AdamD · 06-05-2011, 10:04

Not quite, the arrangement was a bit odd/complicated.

My dad doesn't pay anything, as he put down a large deposit, but as he gets pension credit, the government pays part of the interest on the mortgage. (SMI, which he's applied for in April of this year)

The uncle was supposed to pay off half the mortgage so I could afford to pay my share, because he knew that I couldn't afford to pay the Â£400ish a month.

Instead, he chose not to pay it off, so myself, him and my dad agreed that I would pay what I can and he would pick up the rest, as he claimed he was going to make a fortune setting up a website.

Then the government launched the SMI (support for mortgage interest scheme) which took over my contribuition, which he was more than happy with.

He knew exactly what I could afford and was happy with it.

There's three brothers on my dad's side of the family, including one in sweden, when their dad (my grandfather) passed away, they all got about 90k each in inheritance

The uncle somehow burnt through over 120k of spare cash in less than 4 years, which seemed to run out sometime back in January, as that's when the bounced direct debits started to come through from my uncle's bank.

The money I get from being on benefit pays for any appliances which break in the house, along with the internet and house insurance.

AdamD · 07-05-2011, 00:19

Yay a new letter.

It says:

Quote:

As I've put a proposal to solve the problem and santander are happy with it, they will want to know why you won't agree to it. We'll tell them to contact you.

Should you want to be reasonable XXX and YYYY are prepared to discuss it with you, but only if you are prepared to consider it.

They are prepared to cover the debt that is owed and Santander are happy to withdraw the compulsory purchase that is threatened.

With that paid the mortgage reverts to Â£450 approx and we can get a lodger for the Â£300 a month, fact, XXXX and YYYY rent out rooms!

As for the bills I would cover the Â£84 no problem and the Â£50 difference XXXX or YYYY would.

XXXX = Partner
YYYY = Partner's sister or brother, not sure.

Not exactly sure how the mortgage is going to "revert" to Â£450 a month after his partner pays off the Â£3000 worth of arrears, perhaps I'm just reading it wrong.

Angua · 07-05-2011, 11:34

Quote:

Originally Posted by AdamD

Yay a new letter.

It says:

XXXX = Partner
YYYY = Partner's sister or brother, not sure.

Not exactly sure how the mortgage is going to "revert" to Â£450 a month after his partner pays off the Â£3000 worth of arrears, perhaps I'm just reading it wrong.

Another big fat lie.

Unless all the mortgage holders are present no agreement can be made or signed. He cannot go to Santander and arrange this without your agreement.

As for there being a charge against the property this should only be against your brothers share (if he is the person the restriction has been placed against) and you and your father would have received letters from the Land Registry individually addressed notifying you of this. This does not prevent onward sale but you do need to have a solicitor who understands this particular rule for sales purposes. Any money raised from the sale of his share would have to pay back the creditor who got the charging order first.

If Santander sell you will probably only get 70% of the market value.