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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30929
Experience:  Over 5 years in practice
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hello Some years ago my wife was in a partnership with her

Customer Question

hello
Some years ago my wife was in a partnership with her boss at an estate agents They bought a house together to let out and gain a profit to sell on after a few years.Unfortuatley my wifes boss became bankrupt and went to Dubia to avoid any taxes.The problem is he had not paid anything towards the rent and upkeep of the house they shared.HE IS PREVENTING THE SALE OF THE PROPERTY AND MAINTENANCE AND SHE/WE FEEL HELD TO RANSOM.bECAUSE HE HAS NOT PAID A PENNY IS THERE ANYWAY THAT MY WIFE CAN HAVE HIS NAME REMOVED FROM THE MORGUAGE THANK YOU
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
When did he go bankrupt
How much is the property worth and how much is outstanding on the mortgage?
Claire
Customer: replied 3 years ago.


Not really sure if he was declared bankrupt his business Westpark Financial Services was closed and I bought him out of the lettings and sales side of the business. Shortly after he left for Dubai the Inland Revenue contacted me re outstanding PAYE for the estate agents which l settled. The bailiffs also entered the premises to remove computers etc. One they were satisfied that Westpark Financial Services were nothing to do with me they left the premises which were different premises to the registered address of Westpark Financial Services.


 


Regards


Carol Chandler

Expert:  Clare replied 3 years ago.
Hi
How much is the property worth and how much is outstanding on the mortgage?
Claire
Customer: replied 3 years ago.


£104.000 owed on mortgage worth £100.000 to £105.000 in todays market. The mortgage is an interest only mortgage which L have been informed by the lender will need to be paid in full to take my name off.


 


Regards


Carol Chandler

Expert:  Clare replied 3 years ago.
Hi
Do you wish to sell the property?
Claire
Customer: replied 3 years ago.


Not at the moment as repairs and empty periods have left the property owing money to me. Paul Dummett wants to take the property off my hands as he calls it. This would only lead to further problems as he would need to re mortgage the property with another lender to take my name off which I think he will find impossible. This would mean he would keep the current mortgage and run the management himself, which I think would be disastrous as he would collect rent not pay the mortgage and finally the property would be repossessed. I understand he has done this in the past and the partners he was in business with had to pay the outstanding monies to the lender to avoid repossession. This amounted to several thousand pounds.

Expert:  Clare replied 3 years ago.
Hi
Do you wish to deal with the management of the property?
Claire
Customer: replied 3 years ago.


Yes I already do and would want to carry on. That way I know the rent is coming in and the mortgage repayments are met.

Expert:  Clare replied 3 years ago.
Hi
Has the other owner challenged this?
Claire

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