is my mortgage legal?

If your father gave you the deeds then he did consent to the mortgage.

Please don't call me a fool, it will get you banned and then we'd have fewer threads like this!
 
I cannot remember who said that

"the greatest protection of liberty is the single man in pursuit of his rights"

but it certainly springs to mind here.

Good luck to you Shane, you may even get away with it.
 
If your father gave you the deeds then he did consent to the mortgage.

Please don't call me a fool, it will get you banned and then we'd have fewer threads like this!
I apologise but the issue is the bank has made a huge mistake and now they have sold my mortgage to a private equity firm for less than half its value. If my father didn't want me to have the deeds he wouldn't of giving them simply and why didn't the bank contact my father to look for his consent or contact him to say there was going to be a charge on the property my father was a very kind man and just wanted the best for his kids and we were very close.
 
I cannot remember who said that

"the greatest protection of liberty is the single man in pursuit of his rights"

but it certainly springs to mind here.

Good luck to you Shane, you may even get away with it.
I will let you know if I do.
 
The bank put a charge on a property that you co owned with your Father.
Your Father never gave his written consent to this.
The security or charge over this property is therefore defective.

Have you brothers or sisters, they could sue the bank for damages for loss of inheritance, they could well be joined by the fund that bought your mortgage from the bank.
 
Last edited by a moderator:
The bank put a charge on a property that you co owned with your Father.
Your Father never gave his written consent to this.
The security or charge over this property is therefore defective.

Have you brothers or sisters, they could sue the bank for damages for loss of inheritance, they could well be joined by the fund that bought your mortgage from the bank.
Hi I have two brothers. Do you think the bank didn't repossess because they knew that they couldn't that's why they sold it on for less than half of what is due. And now the new private equity firm is just taking what I can afford every month.
 
Hi I have two brothers. Do you think the bank didn't repossess because they knew that they couldn't that's why they sold it on for less than half of what is due. And now the new private equity firm is just taking what I can afford every month.[/QUO



The banks usually sell loan books that are not performing at discounts, this is quite common and usual. However, it would be a give, that the security over the mortgages are valid and enforceable. This is not the position in your case. In relation to your two brothers, both could sue the bank for damages as they have lost their share of your Father's inheritance when he died ( half the value to the house you live in would have been liable to a three way split between you and your two brothers.) This is not possible at the moment because the bank has a charge over the whole house, which was put on the house, without your Father's written consent. Bank's have large legal departments and this is their error. You, presumably, on the other hand, are not a legal professional and just filled in your standard mortgage loan application. A court would and should have no problem granting restitution to your two brothers, it might even direct the bank to vacate the charge.
 
The bank put a charge on a property that you co owned with your Father.
Your Father never gave his written consent to this.
The security or charge over this property is therefore defective.

Have you brothers or sisters, they could sue the bank for damages for loss of inheritance, they could well be joined by the fund that bought your mortgage from the bank.


Absolute. Nonsense.

mf
 
Absolute. Nonsense.

mf
I disagree, but you are entitled to your twopennies worth, can you please add some reasoning to your post, as such exclamations serve no one, least of all the original poster.
 
Shane,
From threads so far.
1. Bank and/or solicitor give mortgage without clear authority from joint owners.
That now means that should bank wish to enforce judgment on the deed they hold , that it would be very difficult for them.
2.It does not mean the loan/mortgage is illegal , you got a loan under flawed security , you remain liable for said loan/mortgage.
3.Should you end up in an arrears /default position the Bank will have difficulty using the deeds as saleable security.
4. I do not see {fraud} as quoted here , naivety and poor practise is not fraud?

If you end up in conflict with lender , I would expect any court to take a dim view if you tried (not saying you are) to use illegal title as a defence.
Bottom line , you owe money, lender has poor security to squeeze you with .

Mrs Vimes ,
Naughty of you to sell car that wasn,t yours and trouser the money.
Can you get mother to sign off and sort this, because this has the whiff of fraud.
 
That now means that should bank wish to enforce judgment on the deed they hold , that it would be very difficult for them.
just to correct you on this Gerry, judgment is a separate process and has no relevance to the validity of the mortgage. Once a judgment has been obtained it can be registered against any property that the debtor has an interest in. However, you are most likely referring to possession proceedings rather than judgment and in that instance you would be correct.
I would agree that there is no inference of fraud here. I.e. it's not similar to the anology of selling the mother's car. (which I suspect was used for the purposes of illustration only by Mrs V)

Bottom line , you owe money, lender has poor security to squeeze you with .
Absolutely!! No bank will simply return the title deeds without the debt being substantially cleared!! The OP is looking for advice here but appears to only accept advice that agrees with his own conclusions!
 
just to correct you on this Gerry, judgment is a separate process and has no relevance to the validity of the mortgage. Once a judgment has been obtained it can be registered against any property that the debtor has an interest in. However, you are most likely referring to possession proceedings rather than judgment and in that instance you would be correct.
I would agree that there is no inference of fraud here. I.e. it's not similar to the anology of selling the mother's car. (which I suspect was used for the purposes of illustration only by Mrs V)


Absolutely!! No bank will simply return the title deeds without the debt being substantially cleared!! The OP is looking for advice here but appears to only accept advice that agrees with his own conclusions!
Thank you all for replys just one point I am open to all advice given and take it on board. It's just going on to long now nearly 7years and the bank sold my mortgage in 2014 to a private equity firm and now it's a problem for them I just don't want another 7years I want it to come to an end. That is in the lap of the gods as the stress is to much.
 
Shane. You need to step back from this and realize that taking the stance that this is an "illegal" mortgage will get you nowhere. I have worked in the banking system for many years and have come across many similar cases but none have them have resulted in the client walking away with the deeds of the property. You do have some leverage with Tangier on foot of the security defects but you will need to deal with them and come to some kind of compromise agreement on the facility.
 
Hi Shane,

How much do you currently owe and what is the value of the property?

Is this your only property?
 
This is the first time you've mentioned stress. So far on here you look like you are trying to pull a fact one, hence the negative responses. Yet you haven't given us all the details. Your income, the 'mortgage' your outgoings, marital status, value of house and any other assets you have. Who is living in the house.

If you genuinely cannot afford it then the advice will be different.

And stop thinking about who the loan has been sold onto and how much of a reduction the got, it is not relevant.
 
Brendan 44, you are correct I was getting myself confused.Indeed I think your advice is sound,
................
Shane , Looks like if you want closure you will have to make the first move.
From posters Bank has security issue and you have a poorly secured debt against you.

Contact them with a reasoned affordable long-term solution and they may just accept that.
If they don,t accept what any 3rd party would see as reasonable then its a legal long -haul.

Debts don,t disappear even with iffy security an d I gather you want closure, so good luck.
 
Shane. You need to step back from this and realize that taking the stance that this is an "illegal" mortgage will get you nowhere. I have worked in the banking system for many years and have come across many similar cases but none have them have resulted in the client walking away with the deeds of the property. You do have some leverage with Tangier on foot of the security defects but you will need to deal with them and come to some kind of compromise agreement on the facility.
Thanks I know I still owe the money and that's fine but I just can't afford full mortgage amount and my bottom line is can they repossess and if not will they accept an amount that I can pay.
 
No they can't repossess. If I was offering advice I would say to write them a letter clearly explaining the fact that the security is in joint names and say nothing about the death of the co-owner. You may not be in a position to offer them a settlement amount for the full debt but you can offer an affordable payment. They will need income/expenditure details so I would complete a mortgage SFS and enclose this with the letter.
 
No they can't repossess. If I was offering advice I would say to write them a letter clearly explaining the fact that the security is in joint names and say nothing about the death of the co-owner. You may not be in a position to offer them a settlement amount for the full debt but you can offer an affordable payment. They will need income/expenditure details so I would complete a mortgage SFS and enclose this with the letter.
Thanks Brendan44 my position is a mess as there is also a judgement mortgage against me from boi. That's 3years now so what might happen regarding that it is a real messy case.
 
Back
Top