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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33310
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I own 50% of a bungalow but have been separated from the other

Customer Question

I own 50% of a bungalow but have been separated from the other 50% owner, the ex wife, for 10 years. I have not pursued the sale of the property as our son was still living there until 2&1/2 years ago. I recently found out that the ex wife had obtained a secured loan on the property fraudulently, by forging my signature in 2006 with a company called 'Swift advances'. I have known for some time she had had money problems, and it now has come to light that the loan company are repossessing the property. I confronted the ex wife and she actually owned up saying she was desperate back then and needed money quick and this Swift company were eager to get the business. I have contacted Swift and explained that I NEVER gave my permission for the loan, I never signed any contract and refuse to allow them to take any further action. They say I can do NOTHING as I have no leg to stand on - What can I do to stop them repossessing the property??????
Submitted: 3 years ago.
Category: Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
I shall do my best to assist you but I need some further information first.
How much is the property worth and how much is outstanding on any jointly signed for mortgages?
Claire
Customer: replied 3 years ago.

In the currant property climate, I would suggest it is worth approx.
£155000. The property is up for sale at slightly less than that with an agent. There is £28000 on an endowment mortgage with a building society that was jointly signed in 1998. I left on 28-08-2003 (legally provable). There is a loan signed by my ex wife(not by me though) and granted on 25-8-2006 for a total (all parts of loan, fees Etc.) £33550.53 with Swift advances of Essex - These loan sharks from what I have gleaned via web forums are probably the worst to deal with, using bulling tactics and the like.


I do not wish the property repossessed as it is up for sale, in due course it would sell and the ex wife has agreed to pay off her debt!


 

Expert:  Clare replied 3 years ago.
Hi
How much are the arrears on the loan?
Claire
Customer: replied 3 years ago.

I do not know exactly - it's not my loan but I do know there has been a consistent stream of letters I have copied that signifies it has always been in debt. - the actual advance letters states ' £33550.53 to be paid over 240 months' at £367.01 for the first and subsequent payments! - looking at the breakdown of payments by the end of the first year the payments had increased to £401.88 with no reason or explanation why? At one point in the payment history the arrears had gone up to £2,763.19 but with increased monthly payments it appears to have been reduced to a level that would be 'on-track'. The arrears began to rise again and as of 25-12-2012 was £5,710.10 due to a lack of payments being made. there has been a constant stream of charges of £64.00 being added to the account along with other charges at times. I have been told that the ex wife has made a considerable amount of offers to Swift to try and come to payment plans but they are un-yielding and will only accept 'FULL PAYMENT' on each occasion she has tried to manage the account. Apart from obviously failing to make thorough checks before allowing the loan, they have consistently allowed the loan to be it arrears and adding to that by the excessive charges attached during the term.


How do I stand as 50% owner of this ????

Expert:  Clare replied 3 years ago.
Hi
The problem is that the fraud does not effect the firm's right to repossess the property - only what they have to do with the proceeds.
They can only deduct the debt from your ex's share of the property not yours - although in fact the eventual division will be made by the company holding the first mortgage.
From what you have seen it appears that your ex has made a number of repayment arrangements which she has not kept to which is almost certainly why they are not willing to accept any further offers.
The only way that you can stop the repossession is by paying off the arrears I am afraid.
If you wish to take the matter further forward you will also have to report the fraud to the police.
I appreciate that this is not the information that you wanted - but please ask if you need further information
Claire
Customer: replied 3 years ago.


Can I counter sue them for allowing a fraudulent loan to be taken out on my property - I do not have enough ready cash to pay off her debts. What ways can I stall this action, I know the property will eventually be sold but given some interim time, hopefully the property will sell and all debts will be settled - please furnish me with the options that I could use to get some breathing space


Thank you!!!!!

Expert:  Clare replied 3 years ago.
Hi
Have re-possession proceedings actually been issued?
When is the first hearing date?
Claire
Customer: replied 3 years ago.


I have found out today that court proceedings are on 13-06-2013 for repossession. The letter that was given to me yesterday eve states a court case is for 13-06-2013, but I was phoned by my ex wife a few mins ago saying she received a letter today stating she has to be out by that date as set by the court ?


I am really spitting feathers now - what can I do ?????


 


Regards

Expert:  Clare replied 3 years ago.
Hi
Looking only at your letter what does it specifically say?
Claire
Customer: replied 3 years ago.

Further to our previous correspondence regarding the above property, we now write to advise you that a warrant has been issued to enforce the order of possession that our client holds.This will be executed by the court on the 13-06-2013.

 

 

UPDATE

 

I have reported this to Police but they will not act on things except for noting it all and supplying a CRN.

They say that as I have notified the loan company and their solicitors it is down to them to investigate and act on.

Still no further forward in stalling the repossession!!!!

Expert:  Clare replied 3 years ago.
Hi
Is this the first court paperwork that you have been made aware of?
Claire
Customer: replied 3 years ago.

As I said earlier, I only became aware of the situation recently, around the 27-04-2013 when my son gave me a letter delivered to the bungalow with my name on it after a visit to his mother. That is what started the ball rolling - anything prior to that I was totally un aware of, although in 2009 there is paperwork to suggest Swift were following a similar path ?


I need a way of legally getting them to back off so as to allow me time to sell the property in the normal manner to give me the opportunity to get what I consider is a reasonable price for my property !


 


Regards

Expert:  Clare replied 3 years ago.
Hi
Then matters are indeed very far advanced and your ex has hidden a great deal from you.
You can then apply to the court - urgently - for an Order staying the Warrant of Execution based on the fact that not only did you not sign the deed but you have not seen any of the court paperwork
http://hmctscourtfinder.justice.gov.uk/courtfinder/forms/n244-eng.pdf
This will buy you time - but nothing else I am afraid
Claire

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