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Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2469
Experience:  Over 5 years in practice.
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In 1990 I,together with a friend bought a house. It was an

Customer Question

in 1990 I,together with a friend bought a house. It was an interest only mortgage.Negative equity hit and the house was due for. repossession.
Acourt date was set .
My friend took all his things out of the house and moved.
I attended Court hearing he did not.
In 1994 the Judge said if I paid all the motgage plus £50 each month I could stay in House.
There is a for we both signed saying that if one left the other had option to buy out.
Does this apply 23 years later especially since I paid for everything he contributed nothing
I would be grateful for your help.
Submitted: 2 years ago.
Category: Property Law
Expert:  Clare replied 2 years ago.

Thank you for your question

My name is Clare

I shall do my best to help you but I need some further information first

What is the wording of the document you signed?

Was it a repayment or an Interest only mortgage?

Customer: replied 2 years ago.
peter Costello and Marilyn desouza owned the property jointly in equal shares as tenants in common so that the title deeds will have a restriction entered against the register to show that no disposition is to be registered after the death of either person without the consent of the personal representatives of the deceased goes onif one owner wishes to leave the property in the first instance the departing owners share will be offered to the other joint owner if the owner does not purchase the share within 3 months the share may be sold to another person within further three months.after this the house will be soldinterest only mortgage until judge made decision that I could stay it became a capital repayment mortgage
it has been 23 years since judge made decision
thank you
Customer: replied 2 years ago.
I'm a pensioner so have limited funds to spend but Ido know this matter has to be sorted as I have paid all the mortgage since judges decision it has been a strugglemarilyn
Expert:  Clare replied 2 years ago.

For clarity - the matter was in court on a repossession - not anything to do wi tha dispute between you and your former partner?

Customer: replied 2 years ago.
Thanks for contacting me
We were not partners just friendsMarilyn
Expert:  Clare replied 2 years ago.

sorry for the error - but the question remains the same

Customer: replied 2 years ago.
the house was in court for repossession I attended he did not
Judge aid I could stay in house if I paid all mortgage plus £50 each month to cover arrearsThis I did
He never contributed anything after 1994
The arrears took me years to clear until 2008
Expert:  Clare replied 2 years ago.

How much is the property worth now and how much is outstanding on the mortgage?

Customer: replied 2 years ago.
110kI slely paid all the mortgage and I fully paid it off
Customer: replied 2 years ago.
Expert:  Clare replied 2 years ago.

How much was the mortgage in total?

Have you made any structural alterations that increased the value of the property?

Customer: replied 2 years ago.
I paid for new roof new doors new windows new boiler and new gas fire plus alterations to garden as I'm getting old and gradually losing mobility grass taking out hedges removed
Expert:  Clare replied 2 years ago.

How much has that worked enhanced the value of the property?

has your former friend asked for the sale of the property?

Customer: replied 2 years ago.
it might add up to 15/20k
he has not asked me to sell home
Expert:  Clare replied 2 years ago.

I am afraid that the words of the Judge only related to the repossession not to the position between you and your friend

How much was the mortgage in total that you paid off?

Customer: replied 2 years ago.
apart from abiding by the judges decision of paying the mortgage each month plus £50 each month when I was retired on medica grounds in 2009 when I was 59 I paid the whole outstanding amount of £29000
paying since 1994 he contributed nothing ater 1994