Had home repossessed now expecting an Endowment payout..

Zanteboy_2

25 years ago I took out an endowment mortgage to buy a house with a couple of mates. After 6 years we walked away from the house as we could no longer afford it due to job losses.

The building society (Nationwide) chased us for their loss but gave up without much of a fight.

Last year the endowment company (Scottish Widows) sent me a statement informing that this year they were going to pay me the few grand that had accrued for the years I had paid into the policy.

Today they send me a letter saying they've made a mistake and they need a reassignment letter of no further interest from Nationwide to pay me the money.
I kind of know what the answer is going to be but anyone out there know if there's anything I can do to possibly obtain the money?

opinions4u

Ask Nationwide for the letter.

I doubt they still have a record of the repossession.

Zanteboy_2

But surely they'll want to know the account details? Will this not open a can of worms?

Radiantsoul

Assuming you have not ackowledged the debt it is now past the limit for which it can be pursued.

I agree Nationwide probably have no record of the repossession, and probably no knowledge of the policy either(otherwise they would have sold/surrendered it).

bigadaj

Simple answer is to give it a go and see how you get on. Morally the money is probably Nationwide's anyway, but they can't hold you liable for any shortafll given the timescales, so the only options are that you get the money or they do.