How long for a mortgage to be written off.......

[Deleted User]

Not for me as I am not a home owner.

Asking this for a colleague, I have no idea about mortgages as I have never had one.

One day I may be able to afford it when I get rid of the debt!!

They had bought a house but left it, cancelled bank account, had no contact since about 2008ish time.

Thanks in advance peeps.

I am gonna try & get them to register on here themselves cos you are a helpful bunch!

Dxxx

michelle2008

I think your colleague should post this themselves - you don't seem to have the full picture

[Deleted User]

Yup totally agree.

I have asked them but they dont want to register yet.

I know that the house has been resold as someone else is living in it??!!

Not sure how much this helps.

Dxxx

FireWyrm

Mortgage shortfalls can be pursued for 12 years and are not subject to normal statute barring rules. If s/he walked away in 2008, they can and will pursue until at least 2020.

[Deleted User]

FireWyrm wrote: »

Mortgage shortfalls can be pursued for 12 years and are not subject to normal statute barring rules. If s/he walked away in 2008, they can and will pursue until at least 2020.

Thanks very much for that

I will pass this onto them.

Dxxx

fermi

At the very least, get them to read this factsheet.

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EDIT: Changed to Scottish factsheet http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=14_mortgage_shortfalls

[Deleted User]

Thanks for that - we are in Scotland will it all be the same rules that apply?

Dxxx

fermi

Deleted_User wrote: »

Thanks for that - we are in Scotland will it all be the same rules that apply?

Dxxx

Not quite. It is up to 20 years in Scotland.

See this factsheet specific to Scotland.

----> http://www.nationaldebtline.co.uk/scotland/factsheet.php?page=14_mortgage_shortfalls

[Deleted User]

Thanks again xxx