Northern Rock

Mumad

So really could do with a bit of advise...

So in 2001 i took out a 100% mortgage with northern rock £53,000, they delivered it to me in two parts, a secured loan on the house £41,000 and an unsecured loan of £12,000 for the deposit.

following the breakdown of a relationship i extended the secured part by £10,000 2 years later to buy my ex partners share. total mortgage standing at aprox £63,000

a year later the property went on the market and was sold, due to unavoidable circumstances i had defaulted on the unsecured loan and because they knew the property was due to be sold they applied for a charge to secure the money on the house.

however going through paperwork recently it appears when the house was sold they have requested the wrong amounts on the redemption statement and i have only just picked it up.

they requested payment of both parts of the mortgage totalling 63k plus the 12k secured on a charge/ccj total they were paid £75,000

where should i go to try to recover the money, im aware that Northern Rock doesn't exist as it did then or should i be looking at the solicitor who did the conveyancing?

any advise is greatly received.

minimike2

What is the breakdown of the total costs on the redemption statement?

Mumad

Mortgage Balance: £61,599.24
Judgement Debt, Costs and Interest: £12,710.17
Discharge of Mortgage Fee: £195.00
Arrears Admin Charge £165.00
Sundries £30.00
Interest to 10th August 2004 £1,036.05

Total redemption Figure £75,735.46

minimike2

OK - And what are you trying to reclaim? (And why?)

Can you clarify what numbers you think are wrong?

davidmcn

Sorry, it's not clear what you think the problem is? In any event, I doubt you'll get anywhere querying this 15 years after it happened.

Mumad

minimike2 wrote: »

OK - And what are you trying to reclaim? (And why?)

Can you clarify what numbers you think are wrong?

£61,599.24 included the 12k unsecured loan (secured by ccj/charge on land registry)

i effect i paid the 12k unsecured loan twice because they left it combined in the balance and included it as judgement in the statement.

Mumad

davidmcn wrote: »

Sorry, it's not clear what you think the problem is? In any event, I doubt you'll get anywhere querying this 15 years after it happened.

the redemption statement included the same monies twice just under different circumstances.

i fear your probably right, however no harm in looking into it.

minimike2

No, you didn't pay the £12k for the loan twice, it is just coincidence that your default charges and other costs are roughly the same amount.

There could be early repayment charges within that, which could have been substantial, along with your costs applicable for defaulting, which depending on the exact situation could have been substantial.

Thrugelmir

Mumad wrote: »

i effect i paid the 12k unsecured loan twice because they left it combined in the balance and included it as judgement in the statement.

Costs and Interest of £12k is not the unsecured loan.

You borrowed £53k initially and then a further £10k. Total debt around £63k.

davidmcn

If your solicitor really had overpaid by £12k (or by any amount), the overpayment would have come straight back to them. It's implausible that it wouldn't have been noticed (or have been brushed under the carpet). As above, I suspect it's the various charges and interest arrears.

Mumad

There were no early settlement fees, its what attracted me to the mortgage in the first place, it was never going to be a long term investment, it was a development opportunity.

what they have done is not in question, i have the paperwork. my query was regarding where to go to possibly recoup the money? its a error by NR by the look of it