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It is bad news I am afraid
Where there is a mortgage there is no Time Limit at all.
You have been lucky and given substantial extra time to address the issue - selling the house yourself if necessary, but that time has now come to an end.
This is the point at which you now need to plan your next step.
It would be much more financially effective to sell the property yourself rather than wait for the Mortgage Lender to repossess
Please ask if you need further details
I am afraid that in these circumstances the Mortgage Company would be sen as being fair since it gave you extra time to deal with the problem.
The lender does not have to give any defence.
They hold a Charge on Your property.
If you do not take steps to settle the Charge they can apply for repossession
Whether they do it immediately or two years later is immaterial
Which particular part - I ask because there is a fair amount of legislation and I need to know which part you wish to have details of?
You can find the pre action protocol clearly explained here
The process is described here
The basic law is still contained in the law of Property Act 1925 (as amended)
Was this a first or second mortgage, when was it taken out and what has "gone wrong" with it?
Who is the lender and was it mean to be a short term bridging loan?
What was the amount borrowed and over what term?
Why have you stopped making payments an dhow did you plan to pay off the capital?
Right - that is indeed avery different story.
How much is the property actually worth an dhow much is outstanding on the mortgage.
Why are you not making token payments?
have you asked for a copy of the actual mortgage offer?
Why are you not paying what you can?
Who prepared the Cash flow?
Have you asked the lender for a copy of the offer?
You must on occasion feel that you have gone down the Rabbit hole!
Ask for copies of ALL the paperwork involved and then seek advice from a Direct Access barrister as to the possible negligence claim that you may have!
YOu should have paperwork relating to the setting up of the account - and the terms of the mortgage offer
The absence may not invalidate the contract - but it does raise serious questions about the terms of the Transactions and who is responsible for the problems that you have
I do not think it can be used at all I am afraid
Even so - it is simply hard to see how the threshold would be reached - more about such cases here