How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
75100385
Type Your Law Question Here...
Ash is online now

I recently had my house repossessed and had a large shortfall.

Resolved Question:

i recently had my house repossessed and had a large shortfall. i successfully negotiated a figure in full and final settlement of the shortfall.
having now checked my mortgage statements i see i was charged fees and charges of over £10,000. my question is, 'can i seek to recover those unfair penalties etc even though the debt has been cleared?'
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** I will help you with this.
For now please let me know whether you paid this off?
Customer: replied 2 years ago.

yes i paid the agreed settlement amount in full...

Expert:  Ash replied 2 years ago.
If it's in full and final settlement sadly it means that. They can't take action against you and you can't take action against them. I will outline the process in the event you want to try and bring a claim but because if the above I don't think it would succeed.
You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.
The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.
Can I clarify anything for you about this today please?
Alex
Customer: replied 2 years ago.

understood re the charges etc.

does the fact i have settled in full mean i am prohibited in bringing any action against them i.e. if they have charged me the wrong interest rate or early redemption charges which were not in my original mortgage offer?

Expert:  Ash replied 2 years ago.
You can try. But if it's full and final my view is that is a bar. But nothing to stop you trying as a small claim.
Alex
Ash and other Law Specialists are ready to help you
Expert:  Ash replied 2 years ago.
Hi

I am just following up to see if there is anything else I can help with?

If this answers your question might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex