Home repossessed -topaz now asking for shortfall

[Sirbob00]

Hi

Sorry for the delay in replying.  Still recovering from a chest infection that has wiped me out again.

 

I’ve just read the guidance on a SAR and it mentions excessive.  I’m guessing 6 years since the last one isn’t classed as excessive.

 

Also for some reason I can’t find the agreement which I know I had although over the years with the children in/out of the cupboard where it was it’s likely bits of it have gone missing.

 

I’ll post the SAR request off today asking for all documentation relating to the mortgage from the application to the repossession and everything in between.

 

Many Thanks for your helo

[Sirbob00]

Hi.  Just a quick question.  I’m just sending off the SAR.  Unfortunately due to death of my grandma and the funeral yesterday I’ve been sidetracked.

 

As they have written to both myself and my husband separately do we both send a SAR request or is just one sufficient?

 

Thank you and Happy New Year.

[dx100uk]

you both sign one copy

[Sirbob00]

Thank you.

 

Am I allowed to put in the SAR request to just deal with myself.  Things like this cause a big decline in my husbands mental health and I don’t want to go back to him wanting to consider doing something stupid

 

Thank you

[dx100uk]

You are both on the agreement both have to agree to the sar request. Where it goes from there and from which of you... plays no part 

 

Dx

[Sirbob00]

Hi.

 

I have received the information from the mortgage company (SAR).  

 

You asked me to scan the agreement.

 Would that be the mortgage offer?  

 

For whatever reason there is no mortgage application form.  

 

Apparently they wrote to us in October 2007 saying they can confirm they don’t have our mortgage application form but did enclose the mortgage conditions and a blank copy of the mortgage application form.

[dx100uk]

sounds like dodgy paperwork to me... an application form is not a mortgage agreement! signed by both of you.

 

pers i'd await and see what they do next....

 

or just say stuff 'em, and sit on your hands until/unless (ever)  they are ever brave enough to send a letter of claim with a reply pack.

[unclebulgaria67]

Always tricky for creditors to obtain mortgage shortfall debt repayment.

 

Because as soon as they try, they know many people will go down the bankruptcy route and they will then get very little.

 

As dx says, wait to see what happens, as usually it appears creditors will hassle debtors in writing periodically, just to see if they can gain any response.

 

If your finances have changed for the better over recent years and you have more at risk, then you might want to get further qualified advice. 

[Sirbob00]

Hi.  This is the first letters since around 2015.  Unfortunately finances aren’t better.  My husband receives ESA and PIP, I claim carers allowance, our home is rented and our car is on motability.  From May money will drop by around £700 per month as our daughter with special needs turns 20 so we will receive no tax credits or child benefit for her (she also receives enhanced rate of PIP) and from September we loose another £300 as our youngest daughter is off to University.

 

I did note on their comments a vulnerable marker for my husband.  That hasn’t changed, in fact he’s worse.  Last October I had to quit my job as due to Covid my employer changed all our hours from working Monday - Friday 9-1 to working 5 out of 7 between the hours of 8-6 which initially wasn’t a problem as my daughters were at home doing online learning but then they returned back to education which meant nobody was at home to help my husband.

 

I don’t know if I should just wait for the letters and them saying an agent will call or just write and say we have absolutely nothing to offer and all this just makes my husband worse.

[dx100uk]

It would only ever be a ccj attempt, and you'd be easily able to defend esp with no paperwork!!

 

Let it run.

 

Dx

 

 

[unclebulgaria67]

FCA's Mortgages and Home Finance: Conduct of Business sourcebook (MCOB), says that a lender 'must deal fairly with any customer who has a mortgage shortfall debt'. A lender does not have to recover a shortfall debt, but if they do, they must tell you in writing, within six year of the date your home was sold.

 

So dates of correspondence are important.

 

 

[Sirbob00]

They did write to us in 2015 after the sale of the house saying they were intending to collect repayment but since then nothing until December 2021 so I guess they did make their intentions clear within the 6 year time frame.  

 

I’m unsure of the letter stating they didn’t have the application form as this was in October 2007 which was roughly 10 months after we completed the purchase of the house and I hadn’t asked for the application form.

 

I shall wait and see what happens next.  Thank you for your help.

[dx100uk]

let it run.

 

dx