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joint secured loan on a single mortgage- please help!!

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  • #1

    joint secured loan on a single mortgage- please help!!

    I took out a joint secured loan with my ex almost ten years ago. The loan is secured on his mortgage, my name has never been on the mortgage. I am now a single mum working part time, I have been paying half the monthly installment and up until a few months ago so was my ex. The account has now fallen into arrears as he has stopped making payments. There is now a repossession hearing coming up. This has happened before, and was sorted somehow but I have been warned that because I am working and my ex is not, that I will end up being made to pay the full monthly amount or an attatchment of earnings order be made. Worried sick, this will cripple me, Im only just scraping by now. Is this the case? will the court order I pay it all rather than repossessing the property which the loan is secured on? please help, hearing different stories ! Any advice would be much appreciated
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  • #2
    Re: joint secured loan on a single mortgage- please help!!

    Hi Welcome to LB,

    Can you explain please is this a " joint loan" as a 2nd Charge on the property ? Is this the one in arrears?

    Is your ex paying the mortgage still?

    nem

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    • #3
      Re: joint secured loan on a single mortgage- please help!!

      Hi
      Sorry I didnt explain it very well did I. The joint loan was taken out for home improvements and secured on my ex's mortgage. He is, i believe still paying the mortgage but is umemployed so Im unsure if it is behind also.

      Does that make more sense? Is that what you mean by a second charge?

      Thanks xx

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      • #4
        Re: joint secured loan on a single mortgage- please help!!

        Also, yes, it is the joint loan in arrears xx

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        • #5
          Re: joint secured loan on a single mortgage- please help!!

          Do you live in the property that the loan is secured on ?
          #staysafestayhome

          Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.

          Received a Court Claim? Read >>>>> First Steps
          • 1 thank

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          • #6
            Re: joint secured loan on a single mortgage- please help!!

            no i dont live in it, i moved out, my ex is in the property which the loan is secured on. his name is ont eh mortgage x

            - - - Updated - - -

            on the mortgage, sorry, multitasking

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