Mortgage Recall

JimmyTheWig

But it's all still guesswork.
It doesn't matter what conditions are there, it matters what conditions they are using.

If the OP finds such a condition and then spends the next week taking advice and putting together an argument as to why that condition is unfair they'd be scuppered if it turned out that the bank were using a different condition to recall the mortgage.

I think there are two possibilities here...
1. The bank has made a mistake.
2. There is much, much more to this than the OP has told us.

SouthCoast

2. There is much, much more to this than the OP has told us.

Tend to agree.

The mortgage will be an "all monies charge".

And:

Facing the prospect of repossession can be frightening, but it’s important to remember that you are not alone. There is a lot of help available from government, from lenders and from advice agencies. The information here will give you the tools you need to prevent your home being repossessed. You'll also find stories from some of the 330,000 homeowners who have already received help and advice.

http://mortgagehelp.direct.gov.uk/default.aspx

And:

Pre-action protocol and court rules

http://www.cml.org.uk/cml/policy/issues/4084#policy

dolly_c

I assume I am the OP but not sure.

I would tell you "much, much more" if there were much much more to tell and therefore I hope you are right and it is just that the bank has made a mistake. What else could it be or could I tell you to shed more light on their action.

Going by the telephone conversation however they have not made a mistake and fully intend to commence legal action and I shall be liable for the costs.

Thank you for recommending the direct gov website which I have just been reading. Their advice basically says they MUST follow the conditions set out in the pre-action protocol which they definitely have not done. You also must be in arrears for them to consider a repossession order.

What is an "all monies charge"?

Rick62

Hi Dolly,

You seem to be getting some terrible advice from the credit counselling agencies. I doubt that RBS have made a mistake, but that doesn't mean that they are allowed to do what they say they want to.

You need to give some more details, how much is mortgage, how much is overdraft, is the overdraft within any agreed limit. Are you in a position to repay the overdraft over a reasonable period. What happened to cause credit problems last year? have you at any point supplied false information? Apart from arrears lenders can demand payment if a mortgae has been obtained using false information.

You need to put a case in writing, setting out that mortgage always paid, how overdraft arose and your plans to pay off the overdraft (over a reasonable period) and send this, recorded, to RBS. Then if they go to court you can just say, look here is my reasonable proposal, then the judge should tell them to get lost. You need to find some support, someone else at one of the debt agencies, legal aid, a sensible friend?

Trollfever

You seem to be getting some terrible advice from the credit counselling agencies.

CCCS and CAB would have had the benefit of a Statement of Affairs.

Post one on the Debt Free Wannabee Board for experienced advice.

Thrugelmir

I personally feel that you are in a very difficult financial situation. That you won't even admit to yourself.

You have an interest only mortgage, an overdraft and credit card debt. So are drowning very rapidly in spirraling debt. Any change in personal circumstances will merely accelerate your problems.

The risk management team can see this. They are just doing their job. There's no rabbit to pull out of a hat. Once on a downward slope its difficult to turn matters around.

While losing what you've got may not be pleasant. The stress free life on the other side, and starting again is much better. You will have learnt from your mistakes and be a better person for it.