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DH wants to get off prior mortgage but how? Seems impossible. Please help.

(7 Posts)
MortgageQuestions Mon 08-Oct-12 09:20:44

Message withdrawn at poster's request.

Collaborate Mon 08-Oct-12 10:17:06

He can apply for an order for sale of the property under the Trust of Land Act (often called TOLATA - numerous threads about it here).

He would get an order for sale. The £20k loss - is this negative equity? They'll all 3 be jointly and severally liable for any shortfall on sale. If the mortgage is in arrears his credit score will suffer.

You will never be liable for it.

MortgageQuestions Mon 08-Oct-12 10:30:27

Message withdrawn at poster's request.

Collaborate Mon 08-Oct-12 10:41:26

He would have to try and argue the existence of a constructive trust - again there are numerous threads here.
If you're applying for a joint mortgage it might not make much of a difference. Speak to a mortgage advisor.

MortgageQuestions Mon 08-Oct-12 10:50:09

Message withdrawn at poster's request.

MortgageQuestions Mon 08-Oct-12 10:51:10

Message withdrawn at poster's request.

MortgageQuestions Mon 08-Oct-12 10:53:46

Message withdrawn at poster's request.

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