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Donita
| 10-11-2008 09:20 PM |
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Joined: 10 Nov 2008 Posts: 1 | Hi When I met my partner he had a secured loan on his property. I then bought into the house and had my name added to the mortgage. My partner is in dispute over the loan and the loan company have threatened to reposess the house. Can the loan company do this if the mortgage is in both our names now and the loan is only in his name? Thanks D |
| DW George | 11-11-2008 12:32 PM |
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Joined: 01 May 2007 Posts: 195 My Profile | Hi Donita What does the terms and conditions of the secured loan say about selling your house? Your secured loan is a called a second charge which means that the loan company has first call on the equity after the mortgage company has been satisfied. So I don't think that your partner can dilute the equity on the property before he had an interest in the property. When your partner bought into the house was this done through a solicitor and registered with the land registry? Is he named on the mortgage? More info to follow once we find out more about the current situation. George |
