Do I have a case against the bank?

3DataModem

chanpan wrote: »

Hi,
My husband is very loyal to this lawyer but I feel we should go to someone else (especially as I think his interests may be compromised as he was the person to do the convalescing on the house originally).
.

OK so now I re-read this. Of course the lawyer is saying this, as the bank will go insane with him for allowing this to happen (and yes, he could be reported to the law society for it).

The fact that the only person actually on the mortgage is no longer resident in the state, and your name is on the deed, and the fact you are living and want to stay in the house, means you could be in a great situation.

If you stop paying the mortgage and keep living there they will never ever ever get you out, and won't be able to even impact your credit rating, or chase you for the mortgage.

Get a solicitor. A good one. Find out what your options are.

dubrov

I'd be careful of doing anything without talking to your friends.

The guy who worked for the bank and whose name the mortgage is in may have done some dodgy (and possibly illegal) paperwork to put the mortgage in his name only to get the preferential rate. Even if this isn't the case, not paying your mortgage would mean the bank would go after him and ultimately damage his credit rating.

You need to make sure they are on board before proceeding

Trish56

The best way to sort this out is to request a copy of the loan offer from either your Solicitor or the bank and it will definitely state who's name is on the mortgage and all conditions applicable so should be able to clear same up.

chanpan wrote: »

Thanks for all your opinions guys especially those which constructive advise rather than making assertions on my character..I am not now nor ever have I been someone who looks for free money..we just want to buy a house and were getting 2 different opinions from professionals and weren't sure what path to take/who to believe.

Jim2007

3DataModem wrote: »

If you stop paying the mortgage and keep living there they will never ever ever get you out, and won't be able to even impact your credit rating, or chase you for the mortgage.

Total BS, you have no ground for such a claim at this stage.... the fact that the OP's partner agrees with the solicitor, is something that needs to be cleared up. I doubt the OP is getting the whole story, either the bank has got some kind of personal guarantee or pledge to cover the mortgage or the three have got up to some high jinks that could result in fraud.

The OP should take know action until they have clearly established the facts.

3DataModem

Jim2007 wrote: »

Total BS, you have no ground for such a claim at this stage....

The OP should take know action until they have clearly established the facts.

The facts in the OP are:
- house bought by three people in 2006
- one of the three people are living in the house
- the other two people not living in Ireland
- the mortgage solely in the name of one of the two who emigrated

Assuming all the above is true, and there is nothing substantive that has been left out, then the facts remain;
- the bank will be unable to chase the resident for repayment. Their arrangement is with the borrower, not the deed-holders. This is a fact.
- the bank will find it extremely difficult to repossess, as there are three owners only one of which is answerable for the mortgage. This is based on precedent.
- nobody will not be able to buy (or sell) without the consent of the bank and the other two owners. This is a fact.

What am I missing? If the solicitor conspired with the buyers to hoodwink the bank and falsified documents to get 3 names on deed and 1 on mortgage, there may be a legal avenue for the bank to persue, but the bank is also grossly at fault, and the above three things remain true.

My advice remains unchanged, OP.

antix80

Your mortgage adviser is a salesman and he will likely tell you anything you want to hear. Listen to your solicitor.

FelaniaMump

Why are posters saying the deed is in OP's name? Nothing is in his/her name, neither the mortgage nor the deeds. All of this was prior to her/his marriage and move into the house. OP has no claim or debt of any kind here.