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Response to When the husband goes bankrupt, does the family always lose the home?

from Eleanor Scott (eleanor.scott@btinternet.com)
There are conditions attached to Council Renovation Grants, and these should have been made cear to you when you first discussed the grant with the council surveyor, and also later on in writing. The person (or persons) whose name is on the deeds will have been required to sign an agreement stating the terms of the grant. In my area, for example, this would include agreeing not to let out the property or to sell the property within 5 years, otherwise the grant becomes a repayable loan which attracts interest. What would happen in the event of involuntary repossession, I do not know, but your council will certainly be able to tell you if you ring them up and ask.

You should probably being talking all of this through with your local Citizens Advice Bureau, and/or a solicitor. You may be entitled to some free legal advice via your house insurance, or a credit card if you have one, or through trade union membership.

(posted 8399 days ago)

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