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Hello,
I’m in the unenviable position of having two properties.
The one in which I live is mortgage free, which I’d like to pass to my daughter.
The other property, in South Lanarkshire, has an interest only mortgage.
I’ve tried to sell this property but it’s a terraced house and the adjoining house has been abandoned and left to deteriorate.
The result is no one wants to buy my property.
I and many neighbours of that property, have pursued South Lanarkshire Council to take action to have the owner upgrade or sell because it denigrates the village.
Legally the law says the Council “may” take action but the Council have declined. As one official said to me. “The lawyers are not looking for work”
Question:
If I decide to stop paying the mortgage payments for the South Lanarkshire property, have the lenders any claim to the property I currently live in or is the mortgage only tied to that property?
I’m in the unenviable position of having two properties.
The one in which I live is mortgage free, which I’d like to pass to my daughter.
The other property, in South Lanarkshire, has an interest only mortgage.
I’ve tried to sell this property but it’s a terraced house and the adjoining house has been abandoned and left to deteriorate.
The result is no one wants to buy my property.
I and many neighbours of that property, have pursued South Lanarkshire Council to take action to have the owner upgrade or sell because it denigrates the village.
Legally the law says the Council “may” take action but the Council have declined. As one official said to me. “The lawyers are not looking for work”
Question:
If I decide to stop paying the mortgage payments for the South Lanarkshire property, have the lenders any claim to the property I currently live in or is the mortgage only tied to that property?
