can lender put a charge against my property?

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Post by Andrew.js » Fri Aug 06, 2010 2:08 pm
I have been living in a shared ownership house for the last 12 months,i own a 50% share and i moved in with a 15% deposit,the other 50% is owned by a housing association,i may be in a position where my employment is ended soon and i do have around £20k in personal borrowings.If i lose my job and i am unable to meet my reypayments on my personal borrowings can any of the lenders put a charge against my property??

Michael Peoples

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Post by Michael Peoples » Fri Aug 06, 2010 2:11 pm
Hi Andrew and welcome to the Forum.
The short answer is yes. If you fall behind on payments creditors can secure the debt against your property although most do not if you have any sort of arrangement with them. If you go bankrupt or enter an IVA creditors can no longer put charges against the property but any charges already there remain.
Michael Peoples | McCambridge Duffy Insolvency Practitioners
If you would like to talk to me about proposing an IVA or have any questions at all please visit


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Post by MelanieGiles » Sat Aug 07, 2010 6:50 pm
Do try and do something to stop the greedy creditors getting their hands on the equity in your property. An IVA will stop this, if you can get it done in time.
Regards, Melanie Giles, Insolvency Practitioner
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