Repossessed Home not sold after 12 years and counting

nonitem100

My Home was repossessed in 2008, yet it remains unsold.
I was young and naive when I took out a self-cert mortgage with Platform Home Loans back in 2006. During this time I was encouraged to take out two x secured loans on this property - Welcome and BlackHorse. I then became unemployed, suffering from mental health-related issues, for which I am now recovering. The House then became repossessed Oct 2008.
I am not sure what or how this works, but I remember that Platform, sold the mortgage to JP Morgan Chase, who was responsible for the repossession.
I recently checked up on the property and to my surprise, the only recorded sale on this property since 'HM Land Registry started publishing property sales in 1995 ' was April 2006, the date that I purchased.
The value of the property is now around 300k; the purchase price came up to 161k - I paid approx 20k in fees and deposits to Platform.
What I want to find out, is, if there is anything that I can do in regards to this matter - I do not have any documentation, nor am I unable to locate the office of JP Morgan which handled this mortgage - Welcome finance has since gone under; however, debt collection agencies are still on my case.
I would appreciate any advice on offer on this ..Thank you.

pearsforlife

Take a drive past, I imagine it has probably sold just a discrepancy at the land registers/data provider.

Thrugelmir

If it's empty and derelict will now be in a poor state of repair. 

DCFC79

nonitem100 said:

My Home was repossessed in 2008, yet it remains unsold.
I was young and naive when I took out a self-cert mortgage with Platform Home Loans back in 2006. During this time I was encouraged to take out two x secured loans on this property - Welcome and BlackHorse. I then became unemployed, suffering from mental health-related issues, for which I am now recovering. The House then became repossessed Oct 2008.
I am not sure what or how this works, but I remember that Platform, sold the mortgage to JP Morgan Chase, who was responsible for the repossession.
I recently checked up on the property and to my surprise, the only recorded sale on this property since 'HM Land Registry started publishing property sales in 1995 ' was April 2006, the date that I purchased.
The value of the property is now around 300k; the purchase price came up to 161k - I paid approx 20k in fees and deposits to Platform.
What I want to find out, is, if there is anything that I can do in regards to this matter - I do not have any documentation, nor am I unable to locate the office of JP Morgan which handled this mortgage - Welcome finance has since gone under; however, debt collection agencies are still on my case.
I would appreciate any advice on offer on this ..Thank you.

Why only now are you thinking of what you can do after so long ?

How were you encouraged and by whom ?

I don't see anything happening as it's been 12 years.

What would you like to happen ?

When was the last payment made toward the debt ?

JGB1955

My daughter bought a repossession house - the sale price has never appeared in the sale data.  I queried this with a Land Registry friend of mine - apparently it's because the house was sold at less than the 'going rate' for the area, and would skew the price index data.

dunstonh

What I want to find out, is, if there is anything that I can do in regards to this matter

What do you want to do?   It is unclear from your post what you are trying to achieve or why you haven't moved on from this?

Silvertabby

JGB1955 said:

My daughter bought a repossession house - the sale price has never appeared in the sale data.  I queried this with a Land Registry friend of mine - apparently it's because the house was sold at less than the 'going rate' for the area, and would skew the price index data.

When my sister lost her house through bankruptcy, it had to be sold at auction because it was in such a bad state of repair.  I know it went for £29K, but only because the buyer was a friend of a friend.  The buyer was told that the property would be transferred to his name, but wouldn't appear in sale data for the very reason quoted by JGB1955.

Houses in the same street - but in good condition - were going for about £45K at the time. 

[Deleted User]

Seems to happen often where property sales don't appear in the monthly sales index for one reason or another. Happened when a relative sold a bungalow about 15 years ago but I'm sure it was sold at market value and not under. It has since sold twice again and both times it has been recorded.

If they are purposely not publishing sales data of cheap properties to artificially keep prices high then that sounds like a shady practice. 

JGB1955

It's not to keep prices artificially high - do you really think the LR care?  No, they don't.  What have they to gain by doing so?

pearsforlife

It makes perfect sense, how peed off would be if your neighbours house was repossessed and sold for peanuts then the valuation of your house comes in at peanuts too!

[Deleted User]

pearsforlife said:

It makes perfect sense, how peed off would be if your neighbours house was repossessed and sold for peanuts then the valuation of your house comes in at peanuts too!

Surely that depends on the condition of the property. Most repossessions are in dire need of a full up to date refurb and a lot of maintenance issues fixed. Same goes for when an old persons house is sold after they peg it and hasn't had any modernisation in 50 years. 

Any way the mortgage company would sell a repossession at the market value it's valued at, not for peanuts.