Hi, I'll try and keep this as short as possible.
I have been contacted by DMS attempting to retrieve a shortfall on a house sale from 21st June 2007 (that's right, 7 years ago). The amount is £7,957.
I emailed them back with the standard wording "I do not accept liability, please send me a breakdown, this debt is 7 years old therefore you have taken too long to contact me and I don't have to pay", etc.
They sent me a statement & breakdown.
I borrowed £90k, after Interest (it was an interest only Mortgage),
DD Recall Charges, Admin Fees, Additional Interest, Default Notice Charges, etc
they mustered up a sum of £113,149.70 (over £23k more than I borrowed).
The solicitor acting for them then paid £5,380.58 worth of fees which is broken down
but doesn't tell me who to except for £2,070.94 to my Estate Agent
who they de-instructed and never used, even tho the house was sold!
Our Sol was doing final searches when an old unsecured loan appeared
as a second charge which prevented the sale going through
so we handed the keys back so the Mortgage company could complete the sale.
They instructed they're own Estate Agent and sold the property 7 months later for £117,500.
This left me £900.
Except then, in a roundabout way, with lots of adding and subtracting
they finally added £6,985.90 (7k!!!!) early redemption charges.
So that leaves the £7,957 they are chasing.
So what do I do?
Tell them I'm not paying...
Try to claim some of the charges back to drop the balance...
Or send the income & expenditure back and offer them a payment...
I have till Monday night to respond.