If a house has 2 names on the mortgage but only 1 name on the deeds, can the person on the deeds sell the house without the other mortgage holders permission/knowledge/agreement?
It Does not fall into the family home category, and the 2nd mortgage holder never lived there/paid mortgage etc.
The selling price would leave a balance owing on the mortgage which would become an unsecured debt.
The bank are agreeing the sale, but have just said this is on the provision of 2nd mortgage holder agreeing which will hold things up. I'm not sure if they are correct in saying this.
What legal position does the 2nd mortgage holder have in relation to the sale considering they are not on the deeds? Do they get a say?
I will get legal advice but if anyone knows the ins and outs of this I would appreciate it.
Thank you
It Does not fall into the family home category, and the 2nd mortgage holder never lived there/paid mortgage etc.
The selling price would leave a balance owing on the mortgage which would become an unsecured debt.
The bank are agreeing the sale, but have just said this is on the provision of 2nd mortgage holder agreeing which will hold things up. I'm not sure if they are correct in saying this.
What legal position does the 2nd mortgage holder have in relation to the sale considering they are not on the deeds? Do they get a say?
I will get legal advice but if anyone knows the ins and outs of this I would appreciate it.
Thank you