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Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34105
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My father died and my mum did not do probate , she has now

Resolved Question:

My father died and my mum did not do probate , she has now but it comes to light my sister lent my father money and there is a legal charge the wording comments on who owns the property and interest is being charged on the loan . Im not sure how this effects the probate and wether to sign the probate forms.
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.
HiThank you for your questionMy name is ***** ***** do my best to help you but I need some further information firstWhat exactly is your concern about this?
Customer: replied 1 year ago.
I think I have sent all documents I have
Expert:  Clare replied 1 year ago.
I understand all of these - but am still not sure what your concern is - as it all seems to be being dealt with correctly now
Customer: replied 1 year ago.
Hi again yes documents have sent .
I refused to sign probate as I did not understand how the charge effected it. My mother wants me to sign the probate of course.
I feel my father was given very poor advice as he was under threat of losing his home, when he went bankrupt. My sister lent him the money and I believe that she should have some interest on the loan but now its a huge amount and grows each year. I want the Charge removed or the interest rate changed and my mother can set out in her new will what she wants to pay back ,I am aware I can not ask my Mum to write anything in her will. This has be unresolved since my father died . 5 years ag
Customer: replied 1 year ago.
So if I sign the probate in my mind I am agreeing to my sister getting back the money and the total interest on the loan until my mother is 100 or she dies. this to my calculation is now £90,000 and interest is added to the total outstanding every year . I do not think its so good. I know I can not stop the charge but only my sister can , am I correct . What happens if I don't sign ?
Expert:  Clare replied 1 year ago.
Why do you think it is £90,000?The interest rate is 7.25% per annum?
Customer: replied 1 year ago.
Yes but thats on total amount owed including interest every year, someone else worked out the total amount not me. Im not sure of the amount really.
Customer: replied 1 year ago.
So I should sign and I just wait to see how much she will receive compound interest on the loan on top of 50% of total value of estate . Can I have a reply ?
Customer: replied 1 year ago.
You have not answered me and I hope you do and I don't get charged for each time I answer you . My father never paid the loan back it is not paid back until my Mum dies out of the estate , so compound interest. I am not sure how much all these questions are costing me and I have not got my answer. 7.2 % is much higher than a mortgage now !
Expert:  Clare replied 1 year ago.
This Charge is not relevant to and should not delay the applictaion for Probate. If you do not sign the Paperwork then the other Executors can simply apply without you.With regard to the Charge it is difficult to see on what grounds you can challenge it.The money was lent by your sister and received by your father and used by him.The Interest Rate charged was the going rate at the time - and had regular payments been made of £1950 a year then the debt would not be large.However if you do wish to challenge this then delaying the Probate will not assistI am sorry not to give better news, please ask if you need further detailsClare
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