2nd Charge Repossesion Order. Urgent Help Required

[Fighting-Back]

Sorry if this a little vague as I am still trying to get to the bottom of it myself.

 

Approx 26 years ago my father in law had an overdraft of 60,000 pounds for his buisness, the bank apparently put this into a second mortgage on the property. In 1992 they apparently wrote to my wife's parents (they say they did not receive the letter) requesting 84,000 pounds that instant. They had not received any letters from Natwest for the next 16 years until her father was in the process of sorting out a bankruptcy order four years ago when he contacted the bank, as they were shown as a charge on the property. He offered to pay them a lump sum of 70,000 but was unable to put together the finances, so Natwest agreed for him to pay 75 pounds a week with an assessment after a year.

About six weeks ago he received a letter from the bank requesting 314,000 (to include interest) and subsequently a repossession order was received by my father in law from Natwest. He has offered to pay them first 60,000 and then 80,000 both offers have been refused. My mother in law's name is allegedly also on this agreement and she insist that she knew nothing about it and has never signed or agreed to this loan. She was shown a copy of an agreement but states that it is not her signature on the form.

Is there anything that can be done to prevent the repossession of their home. It was suggested by their solicitor that if this is the case then he would refer her to another solicitor.

Can my mother in law have a separate solicitor and what are her chances of winning this case in court? They are due in court next wednesday 21st May. Their current solicitor seems to be unco-operative and does not possess expert knowledge of how to handle this case. He has however, requested certain information from Natwest which they have not provided him. Due to this can the case at least be adjourned?

 

Thanks in advance.

[Bona]

Ok

Firstley you need some specific dates there is a limtations of 12 years on mortgage debts and 6 on others this my be staute barred but |I am no expert. your mother in law needs a good solictor who is an expert where about are in the country I think that Nat west are not playing fair and you could have very good cause to get this adjourned have you put in a defence did your father inlaw forge your motherinlaws signature

[Bona]

Also we can with the help of ell-en make a statement and try to get the case on wednesda adjourned if that doesnot work then the possession order will be 28 days or more when that has passed Nat west will then have to obtain a warrent of eviction that will be at least two weeks could well be more , at any time after the hearing you can make application to the court to have it suspended or dismissed so allthough they are in court on Wednesday you have probally 2 months to try to get good advice I suggest they pay nothing as Im not sure that they owe anything and they may need to pay for good legal advice what is the value of the house is this the only debt lodged agsinst it

Im not saying that it will be fine but I think there several possibilites but we will need to know more try to tell them not to worry and I know others will come along and post

take care Bona

[Fighting-Back]

Hi Bona thanks for your advice, no defense has been put in yet, as far as the value of the property goes as I undersatnd it there is still the 1st mortgage on the property which is relatively small, plus some other cautions totalling about 100k, even if the house was sold they could still walk away with about 200k (if they paid the full 312k to natwest).

 

There is a good chance the signature was forged by my father in law, but if this was the case where does this leave their defence? As I said in the beginning I am still trying to understand it myself, my mother in law remembers signing for a 11k overdraft, but not 60. So it sounds like either the amount was changed or her signature copied onto another form, but surely the bank would have had to have helped for that to happen. They are the witnesses on the copy my wife saw.

 

Also can they turn an overdraft into effectively another mortgage and charge such high interests?

 

my wife has seen the forms and they were

[Bona]

OK

 

your inlaws will need some help at the hearing may be by you they need to make statements and take them to the hearing or leave them at the court the day before so the Judge sees them they or you need to send Nat west a S.A.R. so you can find out exactly what is on the account

then I think the best you will get at this point is an adjournmrnt the worst a pssession order for 28days both ways will give them some time to get expert legal advice I hope during today some one else will be along here with advice there are allsorts of things you can do with that sort of equity to stop the house being repossessed but first you need to find out more from nat west as to how its so high and why ist wasnt chased for so long the Judge may order them tell you