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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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if we stop making payments on a second home can the bank make

Customer Question

if we stop making payments on a second home can the bank make a claim on the family home even although there is a mortgage on the property? Thanks
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts :

Hello my name is ***** ***** I will help you with this.

Alex Watts :

Sadly yes, although the process is a little long.

Alex Watts :

They can get an order for possession on the second home, then see Judgement on the arrears.

Alex Watts :

If you currently have another home they can seek to get a charge on the first property for the Judgment arrears.

Alex Watts :

It makes no difference if you have a current mortgage.

Alex Watts :

They can then seek to enforce that charge by seeking an order for sale.

Alex Watts :

I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest

Alex Watts :

Can I clarify anything for you about this today please?

JACUSTOMER-mzyutl5c- :

does this apply if we have the second home in Europe

Alex Watts :

Yes I am sorry to say.

Alex Watts :

They can get a European Enforcement order on the arrears which means it can be enforced in the UK

Alex Watts :

I am sorry

JACUSTOMER-mzyutl5c- :

can you explain please The conditions of this Deed shall be governed and construed in accordance with Maltese Law and the Maltese Courts shall have non-exclusive jurisdiction over any dispute arising herefrom.

JACUSTOMER-mzyutl5c- :

Thanks

Alex Watts :

Yes. That means they need to take you to Court in Malta.

Alex Watts :

But once they have Judgment, they can still enforce the Judgment in the UK

Alex Watts :

They can get a European Enforcement Order

Alex Watts :

I am sorry

Alex Watts :

If this answers your question could I invite you rate my answer before you leave today.


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