A first post, so hello.
My home was repossessed six months ago and the estate agent’s website shows a notice saying
Mortgagees in possession are now in receipt of an offer for the sum of £240,000 for [property]. Anyone wishing to place an offer on the property should contact [Estate agent’s details] before exchange of contracts or within the next 7 days whichever is sooner.
This replaced a previous notice, first seen on 29 September 2016, specifying 28 days instead of the current ‘7 days’. What does this notice mean? Does it actually mean that a sale is proceeding but contracts haven’t yet been exchanged? The house isn’t advertised ‘Sold subject to contract’. I think this notice is meaningless as it doesn’t say when ‘the next 7 days’ runs from, it’s just an advertising gimmick.
Isn’t the mortgage lender supposed to pay some attention to the defaulting mortgagor’s interests, and accept a reasonable offer? The asking price for the property is £250,000 so the offer, if it exists which I doubt, of £240,000 should be accepted. The outstanding loan is £65,000 and of course there will be costs for anything they think they can pile on. The agents refused to speak to me when I phoned to ask if a sale was proceeding. I’m housed by the Council and they can’t find out either. What are my legal rights in this situation?
I made an appointment to see a solicitor in my local town but after going into their office and actually speaking to the man, I got the very definite impression that this new client (who also needs other services like a Will and executors of my estate as I don’t have family, and will pay for work done), wasn’t the kind of client they want.
Any help would be very much appreciated. TIA.
Ginger Mog