Mortgage Repossession - reclaiming excess funds

bernard67bernard67 Forumite
1 Post
Hi - can anyone offer me some advice !
My flat was repossessed in 2002, and in June last year I met someone who bought it as a repossession for a lot more money. I have contacted the bank who confirmed there were monies owed to me in the region of £70K (wow!). The issue has since been handled by a solicitor since who required me to prove who I was. I have had to engage a solicitor myself to prove my identity and to help me with their solicitors requests. Finally they accept I am who I say I am and they are offering to release the money. However, they state that various rates of interest has been applied to the money - the lowest is 0.04% and the highest is 1.09% amounting to a whooping £2K. Surely this can't be right - are they conning me out of my interest ??
Any advice would be much appreciated!
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