Hi Lea, You probably remember my earlier posts - this has dragged on and we have been unable to raise the stated balance but we still have cash buyers as a last resort. To answer your points we didn't know we could ask for a set-aside (Isn't that the purpose of an N244?) we have asked soliciors, cab, forum's, etc. and been given very little advice of any value. There is a charge on the property. Interest Rates: We have queried this many times with GEM and their answers are completely baffling! They incorrectly stated we were on a fixed rate, then apologised and said we were on a variable rate, however they have fixed the rate at 8.44% since 2009 whilst their base rate has been 4%. I mention their reply in my statement were they refer to CIBC's rate. Loans A,B,C - as I said I have sent a request to GEM for additional info under the SAR as they have provided no proof of an agreement. As far as I'm aware there was no 'money judgement' the judge just said we were in breach of contract as the term had expired and he had no option. I didn't state I have cleared the funds, I said if they only had a claim on the original £48k (Which is the only account they have produced docs for) my spreadsheet shows we have paid £31k even at 8.44%, which would leave an oustanding balance of approx. £31.4k according to GEM's statement dated 30th Jan 2015 furthermore if the interest rate should be 4.5% instead of 8.44% that balance reduces to £27.1k - We can probably raise this amount via a personal loan. Solicitors costs: GEM have added 5 amounts without notifying us (Only notified £240-00) and I believe they are accruing interest which I have been told they cannot do. The loan term expired Jan 2012 which is why we were told we were in breach of contract. My point that GEM won't lose out is that we have paid over £58k since GEM took over our mortgage in 2004 and we are still paying 8.44% plus 33% extra per month so they are hardly out of pocket! I'm afraid your reply has just dashed any hopes I had and I'm back to square one.....mugwump 99

I did black out the relevant details on my first attachment however here is a new attachment with all details replaced with === (PDF format)

Hi CAG, I realise I am leaving it a bit late but can anyone check my attached witness statement which I am hoping to take to court tomorrow with my N244? I have blacked out my name and other details for obvious reasons.

Thanks, there are a couple of £40 charges I'm questioning - I did manage to get 2 or 3 removed previously for late payment (A few days!) I was intending to argue the balances after we've secured a remortgage and through a solicitor I'm still trawling through the over 40 pages of statements! Thanks again for your help, I'll let you know what happens. best regards, mugwump99

Not really! I'm still trying to obtain a remortgage offer. I have had offers from 2 cash buyers but we are trying to raise at least the 62k to get GEM off our backs and give more time. Found another bridging source that was much cheaper than the first but the problem is we have to have an exit route. I did attempt to reply to your previous points but my reply appears to have got lost in transit! I'n not sure why you suggested sending a SAR as we have over 40 pages of statements from GEM rec'd in August 2014! If we can't progress on the remortgage offer we will have to go ahead with the cash buyer by the end of the week to give enough time for the solicitors. We are reluctant to sell as we won't have enough cash to buy anything within about 100 miles of here and my partners work and church are nearby. We will probably end up renting a one bed flat and that will cost about £850 a month in this area - about the same, or more than a remortgage.

Thanks again, The only reason I tried to PM you was that I am reluctant to put too much information on here regarding specific companies whose adverts appear on various site's - I realise the site's don't necessarily endorse the ad's.! The remortgage would cover all outstanding charges if the charge holders agree to discounts which 1 has and 1 other did recently (June 2014) - 3 to go! The bridging loan we have been offered would last one year and cost about 30k+ which I think is excessive.

Sorry Lea_HTH I tried to send a PM but unable due to lack of posts! I didn't want to put company names on the main forum but I've been in touch with a company and they say they can stop this but they haven't put anything in writing to date. One possibility I have been considering is if we can raise the £62k to clear GEM, we then have plenty of time to get a remortgage or sell at our leisure. I'm not sure if this can only be done through an expensive bridging loan or if we can get an agreement for a 3rd party to buy the property with a proviso that we have the option to buy it back within a certain time-scale for a set price including the 3rd parties fee - obviously this would have to be drawn up properly via a solicitor. Thanks again for your help (Message truncated to avoid names!)

Thanks Lea_HTH you have been very helpful! I had come to most of the conclusions that you state but trying to get sensible and correct information is not easy as I'm sure you know! We have been offered a remortgage in my partners name only (As she is younger at 59) but the problem seems to be cache 22 as the charges need to be removed before any remortgage can go ahead. I have been offered a 1 year Bridging Loan but this would cost a fortune. (I'm sending a PM also.) Thanks again.

Hi theoldrouge, Thanks, I'll take a look

Hi theoldrouge, Property valued at £250k (Net) recently. Outstanding Mortgage £62k and Charges £30k to £64k (Negotiating). Credit reports ok. Ages 59 (Female) and 68 (Male) Ideally looking for £100k remortgage to cover all outstanding charges. So LTV = 40%.

Thanks Honeybee13, I'm looking forward to some replies! (I seem to be the only one on here that isn't in arrears but who's mortgage has actually expired!)

Hi Folks, (Sorry this is a bit long!) I have trawled through several of the Forum posts relating to Possession Orders on here and on other sites but our case seems to be different (The story of my life!) Our INTEREST ONLY Mortgage with GE Money expired in Jan 2012 with a balance outstanding of approx £62k which we were unable to pay. We have since made interest payments of over £15.5k at a rate of 8.44% which hasn't changed since 2009 although we are meant to be on a variable rate. There are no arrears and we have OVERPAID approx. £740-00 to date. We made a written offer to GEM to repay the outstanding balance over 5 years at their Base Rate of 4% but this was declined. We had a remortgage offer last year but this fell through as there are other charges on the property and we ran out of time to sort them out. We went to court in September armed with 11 pages of defence as GEM's solicitors had got most of the details wrong but the judge ignored this and said he had no option other than to issue a possession order as we were in default (Expiry Jan 2012). We have until Nov 25th and have been looking at all the options. These are: 1 Cash Sale (Approx 84% of value) 2 Auction Sale (Estimated 88% of value) 3 Remortgage at 2.5% over 11 years to cover outstanding Mortgage and Charges. (We are currently in a joint mortgage but would have to transfer ownership to my partner due to my age!) 4 Bridging Loan over 1 year whilst we sort out the charges with a view to putting the property up for sale. Everybody and his dog keeps telling me we haven't got much time! Been to CAB, 2 solicitors (£75 costs), about 20 websites, zillions of e-mails, etc! (Not much help really, especially the cAB and solicitors who seemed to tell me what I'd already told them!) The judge said we would have to have tangible evidence of either a sale or a remortgage going through - not sure if an offer document would be enough. By the way GEM's solicitors (Eversheds) sent us a wad of documents dated a week before the hearing but we received them at 10am the day of the hearing - which nearly made us late! GEM have since written to confirm they have a 'Absolute Possession Order' which becomes enforceable on 25th Nov 2014 and stating: "We are still, however, prepared to provide you with a further opportunity to repay the balance of your loan within a reasonable period of time". I phoned them and was advised to put in a better proposal, shorter than the 5 years that I had previously offered. (I have been advised that GEM send these letters out automatically just to comply with regulations) My questions are: 1 Can I appeal on the grounds that GEM's solicitors had most of the facts wrong in their application? 2 As the judge said we are in breach of our agreement should we have continued paying interest or can this be claimed as capital? 3 GEM took over our account from FN Finance/Abbey National - is this legit as other sites suggest an agreement isn't legal unless both parties have signed it (Or is that just in the USA)? 4 I have sent letters/e-mails/phone calls to the 5 parties with outstanding charges against our property, with a view to them accepting reduced settlements but have only received 1 reply to date! Would GEM or the court be liable to grant further time whilst these are sorted? 5 Does anyone know of a solicitor that can be relied upon to carry out the work in a short time? I think that covers about everything for now - I'll just add that I'm reluctant to pay out fees up front with no guarantees as most of our money is still going to GEM to repay interest.