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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 31300
Experience:  Over 5 years in practice
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I moved into the home I currently live in with my then partner

Customer Question

I moved into the home I currently live in with my then partner 8 years ago. He arranged for the mortgage to be applied for in his sisters name, it was an interest only mortgage. He originally paid the monthly mortgage payments and when we split up i have been paying the monthly mortgage payments up until now 5 years. I have since found out that when the mortgage was originally applied for the 'declared income' on the mortgage application form was overly inflated by his sister. Could this be regarded as mortgage fraud? She works for a banking institution also, could she be reported for gross misconduct? Recently she has stated that she wants to sell the house what rights do we have?
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 the mortgage?
Was a Declaration of Trust signed confirming the actual ownership of the property
Clare
Customer: replied 3 years ago.

No nothing like that was signed, it was just purely to acquire a home.

Customer: replied 3 years ago.

House is now worth approx £325K outstanding is £214K

Customer: replied 3 years ago.
Relist: Incomplete answer.
Not sure if Clare has completely answered yet??
Customer: replied 3 years ago.

Hi Clare I believe the house is now worth approx £325K o/s on mortgage is £214K she wants to sell and keep profit, and no there wasn't a 'Declaration of Trust signed confirming owner of property.

Expert:  Clare replied 3 years ago.
Hi
So how did he protect his investment?
Clare
Customer: replied 3 years ago.

Well it was his sister and went on trust I suppose. Didn't think this would happen?

Customer: replied 3 years ago.
Relist: Incomplete answer.
I last answered Clare by saying that the investment wasn't protected due to going purely on trust. She needs to clarify if I have any rights to continue living here?
Expert:  Clare replied 3 years ago.
Hi
Who paid the deposit and the cost of the purchase and why was this done in this way?
Clare
Customer: replied 3 years ago.

My partner did both the deposit and the cost of purchase, he did so because the house was for us to live in but he already had other mortgages in his name so used his sister as the named person on documentation.

Expert:  Clare replied 3 years ago.
Hi
What was your arrangements with your partner given that the house was being purchased with his funds?
Are there any children involved?
Clare
Customer: replied 3 years ago.

Hi again, there were not any arrangements as such. I had not long had our daughter, she was approx 5 months old at the time. So I was not working anyway. But i did pay for some of the utilities from maternity pay and also paid for weekly shopping. There is one child involved.