Hi, some advice required please in relation to a charge which has been placed on my daughters house by ACC Bank because her ex-boyfriends debts to that bank.
My daughter went to transfer the mortgage into her sole name as they had a join mortgage. My daughter had been single for 3 years and has paid her mortgage in full for the 3 years. When she enquired about transferring it into her sole name, her boyfriend informed her that ACC had placed a charge on the property (& 10 others) which his name is attached to approximately 14 months ago and she was never informed of this.
We assume that he has significant debts with various banks as he was previously engaged in property development, and he now lives in the UK.
My daughter had no dealings with ACC and her own mortgage is with AIB. she has been advised that as ACC has placed a charge on his half of the property, then she is effectively paying a full mortgage on a property that she cannot own!! Madness in my opinion!! The market value of the property is equal to the mortgage balance outstanding.
Any thoughts people on how to proceed from here!!!
Thank You.
My daughter went to transfer the mortgage into her sole name as they had a join mortgage. My daughter had been single for 3 years and has paid her mortgage in full for the 3 years. When she enquired about transferring it into her sole name, her boyfriend informed her that ACC had placed a charge on the property (& 10 others) which his name is attached to approximately 14 months ago and she was never informed of this.
We assume that he has significant debts with various banks as he was previously engaged in property development, and he now lives in the UK.
My daughter had no dealings with ACC and her own mortgage is with AIB. she has been advised that as ACC has placed a charge on his half of the property, then she is effectively paying a full mortgage on a property that she cannot own!! Madness in my opinion!! The market value of the property is equal to the mortgage balance outstanding.
Any thoughts people on how to proceed from here!!!
Thank You.