Posted on 29 September 2012 by Emma
Myself and my partner bought our home in 2006 with a northern rock together mortgage, through a broker(smf). Recently though we have been struggling to make payments and it went to court for repossesion and I want to stay at my home but the judge told me to look into my together mortgage as a lot of issues have risen around it. I borrowed £65k secured and £15k unsecured my home is in negative equity so I will still be left with a huge chunk of difference to pay. If anyone can help and give me some advice on the issues facing together mortgages would be really useful
Also northern rock said it had charged my loan to my mortgage but when we were in court northern rock could not say if it was or wasn't.
You should ask your mortgage broker Specialist Mortgage Funding Ltd to give you copies of the Key Facts documentation and a copy of the mortgage offer so that you can show these to your solicitor. Your solicitor should also ask Northern Rock for a copy of the mortgage terms and conditions if they haven't already.
My understanding has always been that the unsecured loan part of the mortgage was not charged against your property, hence the unsecured label and that only the £65k secured loan plus any accrued interest and legal costs could be recovered from the sale of your property.
If you don't have a solicitor you should talk to either the Citizens Advice Bureau, Consumer Credit Counselling Service or the National Debtline about your situation. These are all independent agencies providing free and impartial advice and there details can be found on the DirectGov website: http://www.direct.gov.uk/en/HomeAndCommunity/BuyingAndSellingYourHome/Mortgagesandrepossessions/DG_180066
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