Repossessed home - mortgagor's rights

[Ginger Mog]

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

Edited November 3, 2016 by Ginger Mog
punctuation.