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Good Afternoon
Sorry for the long post. I have searched and read lots of info but nothing to help me specifically with this issue.
My husband and I have separated and are getting divorced and will be going through a full financial separation (very early stages)
Since his leaving I have opened a letter from Coast Finance stating they are going to start repossession proceedings due to an unpaid secured loan against the house.
My Ex husband took out a loan (secured) with WF in 2007 in his name, however secured against our mortgaged property (both names on mortgage). I did sign to agree for this to happen in 2007 as we were getting married and had home improvements to make.
Unknown to me he then returned in 2009 and took out a further £10k (new loan to cover the past loan and get extra).
I did not sign for this to happen, I didn't even know! They are defending it by saying "At this loan meeting (2009) a new Legal Charge was prepared but never used as the original charge from May 2007, an "all monies" charge, signed by both parties was still valid".
The letter also states than in Nov 2010 the loan was reduced (by around £1500) in "the re write of the loan" (to remove a PPI charge). Again unknown to me and nothing signed by me.
My questions are these
I have called Coast and have been advised to seek legal advice. They have given me 3 weeks. I have sought legal advice and they have informed me it will be £234 per hour, which could rack up to thousands. Citizens Advice cannot give me legal advice. I do not get any benefits therefore no legal aid advice. I am happy to communicate with the loan company myself however have no idea which pieces of law or legislation to be quoting and cannot find anything relevant online!
Any help would be hugely appreciated! I am at my wits end.
NB I cannot communicate with my husband as he is currently on bail and there is a non mol order in place for his harassment and domestic violence towards me. We have 3 children in the house.
Sorry for the long post. I have searched and read lots of info but nothing to help me specifically with this issue.
My husband and I have separated and are getting divorced and will be going through a full financial separation (very early stages)
Since his leaving I have opened a letter from Coast Finance stating they are going to start repossession proceedings due to an unpaid secured loan against the house.
My Ex husband took out a loan (secured) with WF in 2007 in his name, however secured against our mortgaged property (both names on mortgage). I did sign to agree for this to happen in 2007 as we were getting married and had home improvements to make.
Unknown to me he then returned in 2009 and took out a further £10k (new loan to cover the past loan and get extra).
I did not sign for this to happen, I didn't even know! They are defending it by saying "At this loan meeting (2009) a new Legal Charge was prepared but never used as the original charge from May 2007, an "all monies" charge, signed by both parties was still valid".
The letter also states than in Nov 2010 the loan was reduced (by around £1500) in "the re write of the loan" (to remove a PPI charge). Again unknown to me and nothing signed by me.
My questions are these
- This "all monies" charge would never have been explained to me and must be hidden in some tiny print which means I was duped into signing something giving my husband at the time full range to go get additional funds against our house without my knowledge. I would NEVER have agreed. Where do I stand on this? Is this loan even legal enforceable (they can go after him all they like but they are coming after my house!)
- The Loan is in his singular name, but they want to reposes me - again, I never agreed to this. IF the only option is to pay it can they agree payments with me or only him (as he will not do anything about it - no longer his problem as far as he is concerned)
- Surely there is something about irresponsible lending - he never paid over the 2 years the initial loan (I have later found out from a statement sent through) so why on earth would they lend another £10k to someone who clearly couldn't afford (or had no intention of paying) the first sum of money lent to them?!
- Lastly, this was in 2007 / 2009 and they are chasing now - in 2021?! To my knowledge no payments have been made since 2009. Is there not a period of time they have to enforce debt or is it different for secured loans (although I am arguing the whole amount is secured!)
I have called Coast and have been advised to seek legal advice. They have given me 3 weeks. I have sought legal advice and they have informed me it will be £234 per hour, which could rack up to thousands. Citizens Advice cannot give me legal advice. I do not get any benefits therefore no legal aid advice. I am happy to communicate with the loan company myself however have no idea which pieces of law or legislation to be quoting and cannot find anything relevant online!
Any help would be hugely appreciated! I am at my wits end.
NB I cannot communicate with my husband as he is currently on bail and there is a non mol order in place for his harassment and domestic violence towards me. We have 3 children in the house.
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