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Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I have 15 buy to let properties all in negative equity

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Good Morning
I have 15 buy to let properties all in negative equity shortfall about £100,000 total if I hand back the keys what will the building societies do about the shortfall can they chase me for the outstanding arears I do not own my own house but have a limited company can they put any legal charges on

Hi, thank you for your question. Are all the properties in your name only?

Customer: replied 1 year ago.
There in joint names

Who are they in joint names with?

Customer: replied 1 year ago.
My Wife we don't own our own home just the buy to let's if we default will the building societies pursue us for the short fall we have a business in a comoany limited name can they pursue us through the limited company

Thanks for confirming. If you default on the mortgages and the homes are repossessed the mortgage providers can pursue you either individually or jointly for the shortfall, however they cannot pursue the limited company as that is a separate legal entity.

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