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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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i have a buyer property however the sale will only cover

Customer Question

i have a buyer property however the sale will only cover the mortgage or the 1st lender. There is a second charge on the property, and they will not release the charge i have gone through shortfall with them and they have said they will not release it. I feel i can only hand the keys back to the mortgage company do i have any other option?
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Alex Watts : my name is ***** ***** I will help you with this.
Alex Watts : please let me know what reason they have given?
Customer:

Alex

Customer:

Alex they gave me no reason over the telephone when i rang them all i was told by the shortfall team at 1st plus is they were not prepared to release the charge

Alex Watts :

Have you made any formal complaints yet?

Customer:

no don,t who to complain to

Alex Watts :

You need to write to the lender who has first charge and make a formal complaint. They will investigate the matter and report back to you.

Alex Watts :

If you are not satisfied with their response you can raise an issue with the Financial Ombudsman. They regulate lenders and can examine your complaints . They are also independent. Their website is: www.financial-ombudsman.org.uk

Alex Watts :

That should hopefully resolve the issue

Alex Watts :

Can I clarify anything about this today please?

Customer:

thanks i have spoken to the first lender and their response was" these things happen " but i could never get through to the proper legal dept. But with your reply i can no contact them again and hopefully take it further

Alex Watts :

Yes make sure you register a formal complaint. They have a set procedure and it gets investigated

Alex Watts :

Only then if they give you a final response as a no can you go to the Ombudsman.

Alex Watts :

Does that help?

Ash and other Law Specialists are ready to help you