What if one of the co-owners stops paying their share of the mortgage and/or insurances?
If a co-owner is in breach of the Share to Buy Legal Agreement by failing to make their share of either the mortgage repayments or insurance premiums, then the other co-owner/s either singly or together can require that person to remedy the situation and should they fail to comply within a period of two months from the onset of the default, force the sale of the share of the defaulting co-owner as if they had absented themselves. Please note: in the case of arrears on the mortgage, Britannia will advise the co-owners, on a group basis, that such a situation has arisen; where premiums are not being paid on an insurance policy arranged by graduate network, we would be able to advise co-owners of this event.
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