Hi, i urgently need some help and regarding welcome finance.
I took out a joint secured loan on my property with an ex parter in may 2004 for five years repaying 174 a month. I signed this agreement in there offices with my ex partner.
When we split the loan was for a car which he kept as i dont drive, he agreed to make repayments as he was keeping the car, which he then sold and kept profit as he was given a company car.
In March 2005 this loan was closed and a new one opened by my ex partner (we were no longer together at this point) the new loan is again in joint names and secured on the house, but term extended to 180 months repaying £101 a month, i had no knowledge of this and did not sign an agreement.
I found out as i am in the processing of selling the house and my mortgage company commented on it, the original loan should have been cleared in may this year. I checked my credit file and found the information, upon calling welcome, they have just given me the run around.
Can someone tell me where i stand legally with this as i havent got a clue, and they are telling me that if they investigate this and it turns out to be fraudulent, the original loan will be restored, and as a result defaulted on payments for the past five years as every payment would have been short and interest added according to the defaulted payments.