Court case re old reposession help needed

rchddap1

Hi folks,

Still waiting for the outcome of another court case that has gone before the house of lords before this case can be resolved.

jen_jen_2

It may help to know that a couple of years ago lenders who are a part of the council of mortgage lenders agreed not to pursue any shortfall debt that they had not started to request money from that was 6 years old. You may fall into this voluntary agreement, I would look at FSA or Council of Mortgage lenders website.

I think they agreed this around 2002

rchddap1

The case has been put before a court already, but adjourned to wait for the results from another case that is before the House of Lords. So we could be waiting for a while. So a huge pile of people are involved from solicitors to judges etc...and from what I have been told so far, it is looking good. However, I'm not counting any chickens until that fat lady starts singing.

pud1

i hope people don't think i'm being heartless posting this but as a married person with a 5 month old daughter and who's struggling to get on the housing ladder due to the cost of property at the moment can anyone tell me where i can find properties that are up for sale in my area due to repossession.If i contacted the banks directly would they tell me and is it possible to contact the original mortgage lender and make them an offer or do the properties have to go to auction.And if they do have to go to auction how can you buy one if you don't have a lump sum available to put down as a deposit

rchddap1

The house involved with the court case was supposed to have been sold at auction...However, it was sold a day after the repossession by a back hander to a local development company for far less than it was worth.

They are supposed to get the best price possible for the house so that the money can be used to pay off the outstanding mortgage and any arrears. So I suppose they could use a huge variety of means in order to do this...including auctions.