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Category: Property Law
Satisfied Customers: 190
Experience:  Expert
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I am in the UK and have a question regarding property law. I

Customer Question

Hi, I am in the UK and have a question regarding property law. I have a house in which my wife's nan is the mortgage lender, however we have an agreement where I own the house and pay the mortgage. I am currently going through a break up, and as such I am concerned as to my rights. Can her nan reposses the property and I lose the equity paid in it? The house is in mine and my wife's name. If you need further info please tell me
Submitted: 16 days ago.
Category: Property Law
Expert:  ChrisB4147 replied 16 days ago.

Hi, thanks for the question.  I’m Chris and I’m a Solicitor. I will be happy to assist you and hope to provide a full response as quickly as possible.

This is a question and answer service rather than an instant chat service, and I may not be able to reply immediately. However, rest assured that I am dealing with your question and will get back to you as soon as I can.

I’m sorry to hear about the situation you find yourself in. I presume that this is a mortgage registered against the property? If so, you need to take out of the equation that it is a mortgage in your wife’s grandmother‘s name. It is treated as though it is a general mortgage as if by a bank or building society. Therefore, the equity will need to be dealt with as in any other divorce with a house with a mortgage by a bank. Just because it is in your wife’s grandmother‘s name does not mean that she has any more rights to repossess the property.

Customer: replied 16 days ago.
Is just like a mortgage as she is the mortgage lender i.e ( the bank) can she take the house off me and i wont get money back off it ? Is it a easy process for her?
Expert:  ChrisB4147 replied 16 days ago.

She can only start a repossession application if you stop paying the mortgage. Even then it’s not easy. Ultimately, the house is going to be part of the divorce process and will need to be considered a to what to do with it between you and your wife within a financial application.

Customer: replied 16 days ago.
Well obviously because im going to move out i will be stopping the payments and we won't be getting a deforce anytime soon, my wife is not not funny about anything so just wanted to know the process of what her nan would need to do, to take it off me
Expert:  ChrisB4147 replied 16 days ago.

Both you and your wife would have to stop paying the mortgage. It is only when it becomes three months in arrears that anything can happen with regards ***** ***** of repossession. She would need to send you a letter before action setting out the fact that you are in arrears and how much those arrears are. If it then is not paid, she will need to make a claim to the County Court seeking possession and the terms allowed in the mortgage. That would then bring with it a court hearing and they court would issue possession of the house to your wife’s grandmother. It is a relatively simple process for a lender. I am presuming that there is power under the terms of the mortgage for this to happen. It is a standard clause but it may be that it is not in here because it is a family agreement. However, it is advisable to always put the centre I presume that it would be.

This would of course mean and your wife would have to vacate because she is also a party to the loan. Then it would be your wife’s grandmother selling the property to obtain her when he money back. You and your wife are then have the remaining money as part of the finances for a new divorce settlement. However, whether you’re wife’s grandmother would kick her out is another thing but the whole point of a possession application is for someone to get their money back. Both you and your wife will get a CCJ against you for the monies and if your wife was not removed from the property and the property thereafter settled you May have a claim against your wife’s grandmother on the basis that she is abusing power and the terms of the mortgage because she’s doing it to favour one and not the other.

Expert:  ChrisB4147 replied 16 days ago.

I was just following up to see if there is anything else I can assist you with? If so, just let me know. If not, then I am happy to have been able to assist you. I hope the matter gets resolved.