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Original poster

Unknown overdraft

43 replies

Mortgageoverdraft · 12/02/2025 13:44

I'm shaking. I'm putting papers away and realised my husband of over 25 years has a massive overdraft going back years.
I didn't question it before as it appeared regularly on our bank statements and I was looking for unusual activity.
He doesn't like it when I start talking about saving more now that our children are older.
He's spending it on something I don't know about, isn't he.
The papers say it's secured on our home. I had no idea.

OP posts:
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Bumcake · 12/02/2025 16:21

Mortgageoverdraft · 12/02/2025 16:06

I'll speak with him .

What a radical idea.

Barrenfieldoffucks · 12/02/2025 16:16

Isn't a mortgage reserve just like the kind of mortgages like an offset? Where you have a pot available?

Like attached.

Unknown overdraft
ByQuaintAzureWasp · 12/02/2025 16:16

Mortgageoverdraft · 12/02/2025 13:55

I've lived here for over 20 years.
We've been married for 25.
I feel sick. I can't lose my home.

If it's only a few thousand don't panic. You do need to sort this out and ensure youve access to all financial information moving forward.

Caravaggiouch · 12/02/2025 16:15

Having it isn’t the same as using it, and using it isn’t remotely a sign you’re going to lose your home. You need more information before leaping to “shaking”. Why aren’t you on the mortgage? That would be the issue for me!

GildedRage · 12/02/2025 16:13

In some instances that type of overdraft is great to have for expensive car repairs, expensive home maintenance jobs, emergency trips etc.
The repayment terms are often very flexible ie as much as you want whenever you want along with paying the monthly minimum.
Dh and I have one and it’s very practical.

beachyhead · 12/02/2025 16:10

Is the property in both names? That will be more important than the name on the mortgage.

Maray1967 · 12/02/2025 16:07

So the devastation was the initial reaction - but she got a good outcome.

Maray1967 · 12/02/2025 16:06

toomuchfaff · 12/02/2025 13:51

in that case she can prosecute as that's fraud. She wouldn't be liable, he would have to be prosecuted.

Show quote history

Yes, they divorced and she used the knowledge of it as leverage … her solicitor basically told her that she was in a very strong position.

Original poster
Mortgageoverdraft · 12/02/2025 16:06

I'll speak with him .

OP posts:
thepariscrimefiles · 12/02/2025 15:30

Mortgageoverdraft · 12/02/2025 15:24

I'm suspicious cos he's always blocked financial discussions and told me to trust him.

When someone tells you to trust them, with no evidence that they have your best interests at heart, don't believe them. He sounds pretty dodgy to me.

Original poster
Mortgageoverdraft · 12/02/2025 15:24

I'm suspicious cos he's always blocked financial discussions and told me to trust him.

OP posts:
User7288339 · 12/02/2025 15:12

It's all sounding very dramatic and you're making pretty big leaps.

Just ask him.

FrannyScraps · 12/02/2025 15:04

You sound very passive in your marriage.

Ihatelittlefriendsusan · 12/02/2025 15:04

toomuchfaff · 12/02/2025 13:53

bigger problems than his overdraft. You've no rights on the house, if you were to split etc However on the plus side, if it's his house, it's his debt.

Show quote history

They are married so she is entitled to 50% regardless as a starting point.

TheBossOfMe · 12/02/2025 15:03

treesandsun · 12/02/2025 15:00

If you have been married for 25 years why is the house only in his name? You say you can't lose your home because of this overdraft - but you have nothing to say this is your house?

Doesn't matter because they're married so assets are shared.

Bumcake · 12/02/2025 15:01

Sounds like you’ve had your head in the sand for decades! Not being named on your own mortgage is utter madness.

treesandsun · 12/02/2025 15:00

If you have been married for 25 years why is the house only in his name? You say you can't lose your home because of this overdraft - but you have nothing to say this is your house?

Original poster
Mortgageoverdraft · 12/02/2025 14:57

Dates don't match- mortgage started 5 years before reserve.
Taken from joint account. It's horrible cos he got angry.

OP posts:
Mt563 · 12/02/2025 14:51

Are you sure the mortgage reserve is a negative thing? It could either be how the bank records overpayment to the mortgage (nationwide does something like this) or it could be a savings account that is part of an offset mortgage

Original poster
Mortgageoverdraft · 12/02/2025 14:48

Thank you so much everyone.
I need to ask him questions about what the reserve (overdraft) does. Maybe he's borrowed money at a,lower rate of interest? But for what? There's no visible evidence of what it's been spent on.
He refused to put me on the mortgage cos I only work part-time and he said that my earnings wouldn't be taken into consideration when applying for a mortgage, both 20 years ago when we moved in and last year, when I asked again.

OP posts:
TheBossOfMe · 12/02/2025 14:44

How big is the actual overdraft balance? Just because he has a £20k facility doesn't mean he's actually £20k overdrawn.

Bramshott · 12/02/2025 14:40

Could it be that it's a offset mortgage? They were quite popular a few years back. I think it's where instead of having a mortgage and then having savings separately, you run the two things together so that any savings are used to reduce the mortgage balance.

LazyArsedMagician · 12/02/2025 14:37

A mortgage reserve is an overdraft attached to a current account.

It is "different" to a normal OD as it tracks your mortgage rate instead of the normal 29.9% or whatever that your bank charges.

Having it doesn't mean the same as using it; but equally, it's attached to a current account so he could just be using it as a current account.

These were added to almost all Woolwich/Barclays mortgages back in the day, but they have been phasing them out for the past five years or so.

Question: what you do mean "it appears regularly on our bank statements"? Do you mean him putting money in from your joint bank account?

SeaShellsSanctuary1 · 12/02/2025 14:31

Your biggest threat is it's not your home to lose if it's only in his name.

Why are you not on the mortgage? There is no planning for the future without this

allthemiddlechildrenoftheworld · 12/02/2025 14:30

@Mortgageoverdraft OP you need to answer the questions. why are you not jointly on the mortgage? you may have inadvertently enabled him to do this. has he buried his head in the sand thinking the debt would never be visible? How far into the overdraft is he???? are his earnings enough to pay off this debt and is your mortgage nearly paid off?