House repossessed

sourcrates

Hi,


If you think you have cause to complain to your ex mortgage lender, then you should do so.

Send a written complaint detailing the points you have raised here.

The lender has 8 weeks in which to issue you with a final response, after which, if you remain unhappy, you can then escalate the matter to the financial ombudsman service.

Be aware time limits exist here, you generally have 6 years in which to make a complaint, so that clock started ticking in 2013.

System

If you sold it yourself well below market value then that is down to you. These events did not stop you from ever owning your own home again, that is a decision you have come to. Given you'd had 20 years of mortgage no doubt you had a fair lump of equity in your house to use as a large deposit on another or even possibly buy a smaller house or a flat outright.

A court wouldn't have issued a repossession notice that quickly, especially with a family involved, and would likely not have issued one at all if you attended and told them of the circumstances as the advice to county court judges at the time was to avoid awarding repossessions at all costs. The time between filing for repossession and getting a warrant of execution can be the thick end of a year. That same year I helped someone with £1000s in council house rent arrears who had been taken to county court for a repossession order avoid eviction based on the fact they were getting an inheritance within a month that would clear it and could provide documentary proof of the fact.


Something tells me there's a lot missing from this story.

Comms69

Sounds like someone sold for too low a price and is now looking to blame everyone else

dealer_wins

Jackanorys on, sit back and relax

Biffer123

BoGoF wrote: »

A tall story methinks

that is the problem with those who do not have a problem, they dont believe,or want to understand and see or respond to others who have.
If you do not have an educated response why Bother

Biffer123

It wasnt £700 it was three months but the £700 would have made it two and at least given me an an option with time to put something in place to rectify the suituation.

System

Mortgage lenders don't go for repossession for 3 months/£2100 of arrears especially when the lender has proof of pending income to cover the arrears and as I posted the advice given by the government to county court judges was to not grant repossession where possible. Had you taken it as far as county court the chances are highly likely their request would have been denied.

In short you panic sold the house.

poppy10_2

After 20 years of home ownership you would/should have had significant equity in the house, unless you MEWed it all away

worried_jim

Biffer123 wrote: »

that is the problem with those who do not have a problem, they dont believe,or want to understand and see or respond to others who have.
If you do not have an educated response why Bother

Time to start typing out some facts and figures then.