Finding the money LC19 - Remortgage / Equity

[superbean]

So here's another - possibly obvious - question: if, as in my case, I jointly own the house (my only asset) with my husband, can ownership be transferred to his name only, and if so how does this sit with any demands for payment from HMRC?

We still have a mortgage on the home and have been working hard to try to pay this off over the last twelve years.
APNs, LC2019 and all other noxious demands from HMRC will put an end to that :-(

[Loan Ranger]

So here's another - possibly obvious - question: if, as in my case, I jointly own the house (my only asset) with my husband, can ownership be transferred to his name only, and if so how does this sit with any demands for payment from HMRC?

HMRC can only lay claim to your share of the equity in the house by bankrupting you.

If they do this, the trustees in bankruptcy can set aside any disposals of assets at below market value in the previous 5 years. In other words, this would backfire on you.

If you offer to enter a TTP, HMRC are unlikely to petition for bankruptcy, and the house would be safe.

[webberg]

Insolvency and the options there are a very specialist area.

I would very much recommend that you seek professional advice and/or make use of the various charities who are in the debt management space.

For example, I am aware that transactions which move assets from one party to another and where the first party then goes into insolvency, can be reversed by a trustee in bankruptcy if they were in the previous (I think) 5 years.

Like I say a specialist area.

We do not do insolvency work but we have very good contacts with a couple of firms we can recommend. PM me if you want the details. (And no, we do not get a kick back).