Hello Alastair my name is ***** ***** I will help you with this.
How long do you have on the mortgage please?
Just to clairfy they have called in the loan?
Ok. It's bad news I am afraid. If you have broken the terms of the agreement and I assume you have because you have moved to interest only they are entitled to enforce the mortgage.
This is because, I imagine they have a charge on the property and as such because this is a loan are entitled to call it in.
All you can do at this stage is write and make a formal complaint. This will be I vetsgated and if they do not find for you then and only then might you be able to complain to the financial ombudsman. They operate an independent and free service. They will be able to Investgate your complaint at www.financial-ombudsman.org.uk
But sadly if you can't pay it and they have called in the loan, options are limited.
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.
Can I clairfy anything for you about this today please?
1. They can attempt to sell it. If they can't clearly they can't invent a sale. Yes if they add charges you would be responsible.
2. No, you are joint and severelly liable. So they go after the person with the biggest pot.
3. Other assets yes if you are guarantor.
Does that clairfy?