Trustee and mortgage redemption

reallystressed

Hello

I posted a while back in regards to beneficial interest in my property
Basically the trustee/or left it too late to claim the interest in our house
I wrote to the trustee Kpmg on the advice I received o. Here
Stating that as they hadn't dealt with the matter according to legislation the interest reverts back to us

They wrote. Ack to me and confirmed the interest does revert back to us

Today I have received a letter from my mortgage company saying they have received and actioned a redemption request from Kpmg
What does this mean?

Will they force us to sell the house can they? Even though 3 years was up in July? There is quite a bit of equity in the house and I'm worried they cm somehow force us to sell

National_Debtline

Hello again,


I think you need to write to your mortgage lender and ask them what they mean if their letter isn't clear. Unfortunately, if they are talking about redemption that would seem as though there is a risk that KPMG are continuing with action against the property - which seems very strange if they have acknowledged you are correct.


If this is the case I would suggest a formal complaint. Details of which can be found here - https://www.gov.uk/complain-about-insolvency-practitioner. Unfortunately, your only other option would be legal action but this could be difficult and costly. Speak to your mortgage lender and take it from there.


Laura
@natdebtline

reallystressed

Thank you for your reply
Surely if they have acknowledged they can't sell them they can't?
I will o tact them tomorrow I think
Also the letter from my mortgage lender said no actio. Required from me they are simply notifying me of the request
I think I will make a complaint if they are trying to sell
This is so stressful I don't k ow what to do
It's like a never ending nightmare
I felt like once we got passed the three years we were safe
Thanks for your advice

Mouse007

Perhaps KPMG are offering to pay off your mortgage ! That's a redemption.

reallystressed

Ha that would be nice!

Then they can wait for the value to go up and force me to sell!

Mouse007

They can’t force you to sell, ever, they have no claim whatsoever against your home. You have already established this legal fact.

The only party who has an interest in your home (I presume) is your mortgage company, and they have just said they have received and actioned a redemption request, wow!

I would be tempted to write to (or call) the mortgage company and thank them for the good news that KPMG have redeemed your mortgage per their letter dated xx/xx/xx and ask them to confirm that your balance is now nil and there is nothing more to pay ... perhaps they would be so good to notify the Land Registry that the charge has been satisfied and return your deeds.

Be quick before anyone notices

reallystressed

Thank you for your reply
I was certain that they couldn't claim property now
It has just scared me receiving this letter
I do have proof that they have re vested the property back to us
As they have stated that on correspondence
Although it did say they have a duty to investigate various other aspects of affairs
Maybe they are checking the mortgage for the amount we told them and haven't lied about it?
Although throughout br when asked for statements and proof of payments it was all sent to them
Oh maybe I should ask the mortgage company if Kpmg have paid up and then I can go and have a spend up!!
Thanks

silvercar

Today I have received a letter from my mortgage company saying they have received and actioned a redemption request from Kpmg

A redemption request could be just to let them know what is outstanding. Irrelevant if they have said they have no interest in the property, but they may need to document how much money they have lost (for your creditors). It may be that they need to set money aside if a creditor claims that the insolvency service failed to act correctly.

london1973

I would second Silvercar, suspect a redemption request is purely a request for a redemption statement, which they need in order to close the file, so box ticking basically-