We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Repossession
wainerush
Posts: 1 Newbie
Can somebody tell me what happens to the left over money once a property has been sold, and the mortgage and bailiffs costs are deducted?? A friend who had her house repossesed about 6 years ago has still not had any information supplied to her regarding what if anything was left??? Even allowing for bottom valuation of her property, oustanding mortgage and an approx estimate of £35,000 for bailiff and legal costs she stills feels there would have been approx. £100,000 left over. Any advice I can find out would be much appreciated she is very frail now and cannot afford huge legal bills.
0
Comments
-
Once all liabilities and fees are covered, the mortgagor should receive any residual funds.
Did the mortgagee in possession have an address to contact her once the matter was completed?I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
Download the deeds from land registry (cost=£4) and see what actual sold price was.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
-
Or use mouseprice.com for free.illegitimi non carborundum0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.5K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.5K Work, Benefits & Business
- 601.4K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards