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Dharms79
| 25-01-2010 02:48 PM |
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Joined: 25 Jan 2010 Posts: 2 | Hi, I split with my partner in Jan 2009 after I closed a failing business. Fortunately I have now got all financial matters in hand via a Debt Management Plan, but just realised that my secured loan has my ex-partners name on it, although the Mortgage and Land REgistry only has my name on it. Also all the payments were made by me from my single bank account. The unfortunate thing is through my bad business I have had a default registered against me, and I was wondering I am trying to get the joint account turned into a sole name, I have shown affordability, what can possibly stop the lender changing it into my name due to old mistakes. As I am also worried that my ex may want a share if I was to sell the house in the future just becuase her name is on the secured loan. Help what can I do, to convince the lender to change this loan into a sole name account from a joint account. |
| DW George | 28-01-2010 07:25 PM |
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Joined: 01 May 2007 Posts: 401 My Profile | Are you saying that the house/mortgage was not a joint mortgage? The fact that her names appears on the secured should not affect her claim to any equity you have in the house. If your ex is entitled to a share of the equity that's a matter of fact and is not dependent on her name appearing on certain documents - a lawyer will clear this one up. In respect to the secured loan how much was it and when was it taken out? The reason I asked is that there may be some angle you can work in respect of enforceability of the loan, especially since you ex never had her name on the mortgage. |
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Dharms79
| 05-02-2010 12:03 PM |
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Joined: 25 Jan 2010 Posts: 2 | We took the secured loan out in May 2007, I think the angle may be gone, the current balance of the loan is £77,000, although the original amount was £65k plus PPI. |
