our home was repossessed two weeks before a completion date for us selling it was due. Mortage company wanted 69,000 pounds to settle it. The house was sold for 115,000. We had 8,000 arrears.
How could we claim the equity value of the property back. I know they will have to supply a "Statement Of Accounts", but wat is the rest of the procedure.
Im also contacting the Financial Services Authority, suprising how many people dont know about this issue though.
I look forward to a reply
2007-01-04 00:29:59 · 4 answers · asked by Steve J 1 in Business & Finance ➔ Personal Finance
NO!!!
2007-01-04 00:38:34 · answer #1 · answered by melissa renston 1 · 0⤊ 0⤋
I would have thought the equity in your home was yours. Once the building society got its money back, any excess would be yours. Try this website for help.www.lawcentres.org.uk or www.cml.org.uk. The last one is for the council of mortgage lenders. Both of these organisations should point you in the right direction. Good luck anyway.
2007-01-04 01:07:57 · answer #2 · answered by charterman 6 · 0⤊ 0⤋
Usually, the creditors get their money, the bailiffs get their money & the rest is swallowed up in administration charges. I doubt you can claim anything back, but you could try writing to the bailliffs who handled te repossession, & ask them.
2007-01-04 00:50:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You need to get a solicitor to help you with this one.
2007-01-04 00:32:19 · answer #4 · answered by Bella 7 · 0⤊ 0⤋