House repossession from a Bank charge over the house from a Business Overdraft

[Mineral1]

Re: House repossession from a Bank charge over the house from a Business Overdraft

Doe's your child live with you. And are you up to date with the payments to your mortgage company.
Is this a second charge that Natwest have on the property.
Back in 2006 Natwest were notorious for not putting a legal charge on the property check with the land registry to see if the second charge is registered costs 3 pounds on line.

Notorious? I think a more appropriate word would be helpful! mashappy:

[sharonma12]

Re: House repossession from a Bank charge over the house from a Business Overdraft

Yes Child lives with me.
Mortgage is behind (slightly...but this is not an issue, I am paying extra each month as agreed to catch up)
Will check with Land Registry. Thank you.

[sharonma12]

Re: House repossession from a Bank charge over the house from a Business Overdraft

OK - Within the paperwork from the solicitor is a Land Registry search done by Natwest, done on 18th Dec.

It says.....Particulars of Search as Supplied:
Title Number: ST112500
Applicants (mortgagee) Natwest

Result: There is no entry on the register of a home rights Notice or a matrimonial home rights caution.

[sharonma12]

Re: House repossession from a Bank charge over the house from a Business Overdraft

Just spoke to Land Registry....and yes, there is a 2nd Charge with Natwest registered.

[Streetwise]

Re: House repossession from a Bank charge over the house from a Business Overdraft

OK - Within the paperwork from the solicitor is a Land Registry search done by Natwest, done on 18th Dec.

It says.....Particulars of Search as Supplied:
Title Number: ST112500
Applicants (mortgagee) Natwest

Result: There is no entry on the register of a home rights Notice or a matrimonial home rights caution.

The Legal charge document, when you and your Husband signed it was it explained to you what you were signing by a solicitor, has the document been witnessed and signed by this solicitor, and is there a signature from an independent witness,this should be on the last page of the Legal Charge Document.

[sharonma12]

Re: House repossession from a Bank charge over the house from a Business Overdraft

The witness is the Bus Bank Manager

Not witnessed & signed by a solicitor.
No independent witness

But I did sign saying that I was strongly advised to take independent legal advice.

The fact is......I don't dispute that I (we) owe the money.

Thank you again for helping me

[sharonma12]

Re: House repossession from a Bank charge over the house from a Business Overdraft

The witness is the Bus Bank Manager

Not witnessed & signed by a solicitor.
No independent witness

But I did sign saying that I was strongly advised to take independent legal advice.

The fact is......I don't dispute that I (we) owe the money.

Thank you again for helping me

I have been thinking. If I can borrow half of the amount of the money off of a friend, and offer to pay £28k, which in effect is my half of the debt, do you think the bank would accept this with my husband being liable for the other half? I appreciate that the charge would have to stay on the house until he paid his amount........Can I have your valued thoughts please on this. Thank you

[wales01man]

Re: House repossession from a Bank charge over the house from a Business Overdraft

If this gets to court make sure you have some legal help with you.
At the moment it seems your brain is working overtime trying for a solution a Judge when told all the facts from both sides will make a decision this if you can offer a payment plan that you can afford and sustain this will be to your advantage.
Unless your OH attends and agrees to pay half your offer would only pay half the Joint debt which would still leave the rest jointly owed .

seek the advice you need having been through this I regret not doing so it was easier at the time to give in less stressful but with hindsight I was wrong you may make mistakes if unguided.

[Mineral1]

Re: House repossession from a Bank charge over the house from a Business Overdraft

The other potential pitfall lurking maybe you ex. Has everything been signed and sealed in a legal settlement? If you sort this hurdle out what he doesn't come back and dump a claim on you for half the property. He may well be hiding behind the fact that the Bank can call in the loan by taking possession of your property so you need to seek his proposals for settlement now. Get a lawyer. If your household insurance includes legal cover (most do) phone them and they will arrange for this. I have availed myself of this last year. It works. Have a look at the details of your household insurance. Today mashappy:

[Streetwise]

Re: House repossession from a Bank charge over the house from a Business Overdraft

I have been thinking. If I can borrow half of the amount of the money off of a friend, and offer to pay £28k, which in effect is my half of the debt, do you think the bank would accept this with my husband being liable for the other half? I appreciate that the charge would have to stay on the house until he paid his amount........Can I have your valued thoughts please on this. Thank you

Doe's your ex husband have any known assets,do you know his financial position,you say he refuses to pay his share of the debt.
Are you divorced .

[sharonma12]

Re: House repossession from a Bank charge over the house from a Business Overdraft

Hi, Yes we are divorced. As far as I am aware, he has no assets, and is not in a good financial situation.

[Streetwise]

Re: House repossession from a Bank charge over the house from a Business Overdraft

Hi, Yes we are divorced. As far as I am aware, he has no assets, and is not in a good financial situation.

Is he employed or self employed,is he letting you carry the can.

Doe's he still have an interest in the property.

[sharonma12]

Re: House repossession from a Bank charge over the house from a Business Overdraft

He is SE. Yes he is letting me carry the can. He wants me to sell the property which he left 6 years ago so he can get some of the equity.
Once I have 'sorted' out Natwest. I want to come to an agreement with him & pay him an amount. This is my home, and I run my business from home (which has been adapted to enable me to do this) If I lose my home, I lose my business.....
I have had my head in the sand for far too long!

[Mineral1]

Re: House repossession from a Bank charge over the house from a Business Overdraft

He is SE. Yes he is letting me carry the can. He wants me to sell the property which he left 6 years ago so he can get some of the equity.
Once I have 'sorted' out Natwest. I want to come to an agreement with him & pay him an amount. This is my home, and I run my business from home (which has been adapted to enable me to do this) If I lose my home, I lose my business.....
I have had my head in the sand for far too long!

NOOOOOOOOOO!!!! Don't do that. Once you have sorted this out he can stick his hands in your piggy bank so I would seek his proposals now. I take it he can walk off with half the equity as things stand? As if you were to settle NatWest then he can still come along and you will have done all the hard work
Do this right!!!

[Mineral1]

Re: House repossession from a Bank charge over the house from a Business Overdraft

If he has little to offer and no money to settle any of this overdraft then you have the whip hand. If the Bank were to repossess as much as you would end up with little so would he. If you can get this sorted then his only realistic prospect of getting anything is by your hand. You need something legally watertight now to say what he will be getting post settlement of your financial pickle.