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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3671
Experience:  Solicitors 2 years plus PQE
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10yrs ago a friend helped me to get a mortgage by adding his

Customer Question

10yrs ago a friend helped me to get a mortgage by adding his name, He also loan me some money towards the deposit. we did not have a formal contract, just verbal. The verbal contract was that, when the property was sold I would pay him back the loan.
Two year ago, he asked for a written contract, which he drafted and send to me by email. The contract stated that I would pay him the sum he loan me once the property was sold. I had no problem with the contract, I therefore resent the contract by email, so we both had a copy.
My friend wants to buy another property and have requested that I sell the property. I don't have a problem with that. However, he is now demanding 50/50 on the equity. Is this not breaking our contract?
Submitted: 1 year ago.
Category: Law
Expert:  Alex J. replied 1 year ago.

Hi, Thank you for your question and welcome. My name is ***** ***** I will assist you. If the money was simply a loan and he is not registered as owner of the property he has no entitlement to the property. You only have to repay him the loan. The situation is more complex if his name is ***** ***** property ownership register - if this is the case then you have the contract as evidence to show he was only ever entitled to the loan amount in repayment. I look forward to hearing from you. Kind regards AJ

Customer: replied 1 year ago.
Hi Alex,Thank you for your assistance.His name is ***** ***** part owner of the property. However, he did that to help me getting the mortgage. Throughout the ten years, I paid the mortgage and did everything that required to maintained the house. We both understood that the house belonged to me. He had no problems with that until recently when he met and marry his wife.So, is he bound the contract?
Expert:  Alex J. replied 1 year ago.

Hi, Thank you. If he tried to sue you for the whole proceeds you would have the contract as evidence that he is entitled to a proportion of the equity equal to this "loan" value. Ultimately he cannot sell the property without you (and you without him), if he is going to insist you sell and you refuse because he wont agree the equity issue, he would have to sue you. Is he likely to go this far?

Alex J. and 2 other Law Specialists are ready to help you
Customer: replied 11 months ago.
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Customer: replied 11 months ago.
I have received an email from my friend solicitor demanding half of the equity on the house and half of the rent. His wife called me, saying my friend was confused so could I explained everything to her. She also stated that when he loan me the money he wasn't well psychologically and was receiving medical treatment. She is also demanding access to the property etc.
Expert:  Alex J. replied 11 months ago.

Hi, Thank you. Are they alleging the loan was paid without capacity and under duress? Kind regards AJ

Customer: replied 11 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Customer: replied 11 months ago.
my friend claimed he was not in a fit state mentally to make rational decisions of this nature. Yet when he loan me the money he was actually working with vulnerable people. Furthermore, two years ago we did a written agreement stating that on the sale of the property I would paid back the money.There're lots to explain so you get the full picture of what took place.I've been trying to speak with you since 12 Oct. but unfortunately this has been unsuccessful. I would appreciate it if we could please set a time and date that is convenient for both of us?.Kind regardsCilla
Customer: replied 11 months ago.
Thank you.I look forward to hearing from you.Cilla
Customer: replied 11 months ago.
Dear AlexI've been trying to speak with you since 12 Oct. but unfortunately without success. I would appreciate your help to made this happen. Could we set a time and date that are convenient for both of us please?.I am available most afternoon from 13.00 until around 16.00. Sometimes later, all depends on whether there are people about.I look forward to hearing from you. Thank you in anticipation.Kind regardsCilla
Expert:  Alex J. replied 11 months ago.

Hi, My apologies I have received this. I will prepare an answer and respond to you by tomorrow morning at the latest.

Kind regards

AJ

Expert:  Alex J. replied 11 months ago.

Thank you. Did you at any point agree that you could be forced to sell the property if you defaulted? Kind regards

Customer: replied 11 months ago.
No. I did everything in regards ***** ***** property. He loan me the money for the property and he helped me to get the mortgage by adding his name. After that, he had nothing more to do with the property.I would like a telephone conversation with you so you'll get the full picture of what had happened and where we're at now.Have you seen my other messages? I've been trying to speak with you since 12 Oct. I left a message informing you that I'm available everyday between 13.00 and 16.00.Could you please call me. Im getting really desperate to get some proper advice asap as my friend wife in now demanding access to the property.Kind regardsCilla
Expert:  Alex J. replied 11 months ago.

Hi Thank you. I am not currently available for a phone call. The bot***** *****ne is you cannot be forced to sell withhout a court order. If they want to force a sale they will have to sue you. Realistically will you ever repay the loan?

Customer: replied 11 months ago.
Hi AlexI don't have a problem with selling the property because I have no other means to pay back the loan. The problem is, they are demanding half of the property because my friend name is ***** ***** the mortgage. They are now claiming that he was not mentally fit to make a rational decisions of this nature. His new wife states that all the mortgage, insurances etc. I've been paying were just rental fees. So my thoughts are, they want to take over the property. His wife has demanded access.
Expert:  Alex J. replied 11 months ago.

Hi, Thank you. They have no right to access the property, is his name on the title deeds or just the mortgage deed?

Customer: replied 11 months ago.
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Customer: replied 10 months ago.
Hi Alex
Since you're not available for telephone call, can you please close my case so that someone else can be assigned to me. I am getting desperate to resolve my problems and to know where I stand legally.RegardsCilla