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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34236
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My partner has a property with an ex and consequently shares

Customer Question

My partner has a property with an ex and consequently shares a mortgage albeit by name only as he pays it - Some time ago whilst they were still together she took a secured loan out against the property without him knowing, if he was to take her name off the mortgage with her agreement would the said loan still be secured against the property given her name would no longer be there and would he then be able to sell? Or, could they still sell the property even though there is a loan against it?
Submitted: 3 years ago.
Category: Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the house worth and how much is outstanding on both the mortgage and the loan/
How did she take the loan out without his signature?
Clare
Customer: replied 3 years ago.


Hi Clare - Thanks for helping.


 


The original mortgage was for c£55k and they have been apying it for 5 years so I suspect there will be c£52l left on the mortgage - The loan she took was for c£22k, he only knew about it after he received letters saying she hadn't been paying the repayments


 

Expert:  Clare replied 3 years ago.
Hi
How much is the house worth?
Are you sure it is secured on the property?
Clare
Customer: replied 3 years ago.

It won't be worth much more than what they paid so c£55k and from what he believes yes it is, she only works in a shop as an assistant and was taking loans out left right and centre and was struggling so consolidated from what we can gather, I can't see she would have been able to get a loan for that amount without securing it against something, having said that we are not 100% - Would the mortgage company be able to tell us as she won't give us any info?


Thanks

Expert:  Clare replied 3 years ago.
Hi
What did the letters say and who were they addressed to?
Clare
Customer: replied 3 years ago.

Addressed to both of them, I don't have them infront of me at present - However if it is secured on the property and she signs the property over will the loan follow and will he be able to sell it?

Expert:  Clare replied 3 years ago.
HI
If it is in both names then either your partner was tricked into signing the paperwork OR he ex forged his signature
If it is the second then provided he is willing to report the fraud and challenge the loan then yes it can be removed from the Property register and the property can be sold.
If not and it is secured on the property then the property cannot be sold unless the Loan Company agree as their charge cannot be paid off as there aren't enough funds.
The starting point is for your partner to contact the loan company and ask for a copy of the application form.
He can also check whether or not the loan is Registered against the property by contacting the Land Registry for a copy of the title deeds
http://www.landregistry.gov.uk/public/property-ownership
I hope that this is of assistance - please ask if you need further details
Clare