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Ben Jones
Ben Jones, UK Lawyer
Category: Law
Satisfied Customers: 48190
Experience:  Qualified Solicitor - Please start your question with 'For Ben Jones'
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Customer Question

Hello. I have just logged into our online account for our offset mortgage. It states it has a zero balance yet it should still have 120k outstanding. I have printed a statement with the zero balance on it and date and time. Is this something I can pursue?
Submitted: 1 year ago.
Category: Law
Expert:  Ben Jones replied 1 year ago.
Hello, my name is***** am a qualified lawyer and it is my pleasure to assist you with your question today. When you say pursue, do you mean that you are wishing to ty and claim you have no mortgage to pay?
Customer: replied 1 year ago.
If feasible yes.
Expert:  Ben Jones replied 1 year ago.
Whilst that would be a nice idea, in reality it is highly unlikely to materialise. The fact that your online statement has shown a zero balance does not create a legally binding situation which would avoid you having to pay for your mortgage. In reality, both you and the bank know that there is an outstanding balance and a simple clerical or technical error like this would not have legal grounds to be applied against the lender. The binding situation would be the clear fact that you had taken out a loan which had not actually been paid and unless you received some formal confirmation from them that the loan has been cleared and that they had knowingly and intentionally decided to absolve you from its repayment, you will not be able to claim that from them. As such, the printout you have does not really hold any legal standing and they will quickly correct this error as soon as they are made aware of it. If you try to argue that you have no more repayments to make, they may quickly start pursuing you for the actual outstanding amount and that could create difficulties for you if they try and seek possession of the property to recover the money you still owe them. I'm sorry if this is not necessarily the answer you were hoping for, however I do have a duty to be honest and explain the law as it actually stands. This does mean delivering bad news from time to time. I hope you understand and would be happy to provide any further clarification if needed. If you are still satisfied with the level of service you have received I would be grateful if you could please take a second to leave a positive rating by selecting 3, 4 or 5 starts at the top of the page. Thank you
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Customer: replied 1 year ago.
Great thank you for your help
Expert:  Ben Jones replied 1 year ago.
You are welcome all the best