Quick back story. My mum dies last April and my dad died last October. Both aged 59. Both cancer. No wills. Mortgaged property. I have got grant of probate and have had the house on the market. Not been paying mortgage since dad died. This was agreed by lender dad left about 25k. This was mums death in service ( part time cleaner for nhs ). No life insurance ( think he cancelled it). I love them dearly but they were a financial nightmare.
The mortgage on the house was for 80k. The unpaid payments have mounted to about 4K so I owe about 84k. Out of this 25k I have paid for 2 funerals and paid utility bills as well as some renovations that were desperate on the house. Got 15k left.
As I have said they were a nightmare. They had an iva due to credit cards debts. My they had been paying this for about 3 years and there was 8k left on it. My uncle came to an agreement with iva company after mum died and they accepted 4K on full and final settlement.
Now to the point. The mortgage was up to full value of house if not a bit more. The mortgage was taken in 2007 and is an interest only. They had no means of paying it off once the term had finished. They would have been credited up to the eyeballs at the time the mortgage was taken out. I know that they are grown ups and they chose to take on the mortgage but I honestly can't see how it was allowed.
I have now had an offer for 77k so I can afford to accept the offer and pay it off with the money from mums death in service so sells well that end well but I can't shake the feeling of anger that this situation was even allowed to happen.
Tbf I know iabu but al I hear about is miss sold ppi and bank accounts. Surely this is also a form of miss selling
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AIBU?
Aibu to wonder how the hell it was deemed appropriate to sell my parents this mortgage
35 replies
pud1 · 20/06/2016 21:13
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