Mortgage sold on

sirjbr

Hi everyone got a question im hoping someone can give me an answer to.
I was declared bankrupt two years ago and at the time told by the official receiver that I could buy back my house from them at the current market value (less than the current mortgage balance) however my mortgage company are refusing to cooperate as they are not members of the mortgage lenders code. My mortgage has been sold on to this company by my original lender who were members without my permission.
If anyone has any idea how this all works I would really appreciate any help.

Thanks

Thrugelmir

sirjbr wrote: »

My mortgage has been sold on to this company by my original lender who were members without my permission.

The mortgage debt belonged to the original lender. In the contract terms they will have incorporated a clause allowing them to sell the debt on. They do not require your permission to do so.

silvercar

In bankruptcy the official receiver owns the beneficial interest, that is the difference between the property value and the outstanding mortgage. If you buy back the BI from the OR then you own any equity.

The fact that the original lender sold the original mortgage to a new lender shouldn't have an impact on the OR selling you the BI.

Lots of advice on bankruptcy implications on property ownership on the bankruptcy board.