House repossession : LUSENET : Repossession : One Thread

If you have a mortgage with a partner and then the relationship breaks down, are they liable for repossession costs as well as negative equity costs. Also would the building society with the repossession order come after the mortgaged property I have now with my new family.

-- Phil Cook (, March 07, 1999


They are liable for the repossession costs if the mortgage was a joint mortgage. That's because under a joint mortgage, you are both "jointly and fully" liable.

Lenders chasing repossession shortfall don't usually go for full repossession costs - they are prepared to settle for considerably less than they say they are asking for provided you don't query their figures.

I know of no case where a lender has come after the next property... but I'm sure it's happened. They don't generally do damage to each other, though they can get a "charge" against your current property. You can usually expect specialist lenders to be more aggressive in this respect. Another good reason not to use them.


-- Lee (, March 07, 1999.

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