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Bank Guarantee & Mortgage Debenture


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Hi, I would be most grateful for any advice.

A friend of mine signed a guarantee and a mortgage debenture for her then husband's company overdraft.

The company went into liquidation in 1990 and the bank came to her for the company debts.

They issued a writ for the guarantee in 1996 but this petered out by 1998. Nothing was issued for the mortgage debenture and she has had no contact with the bank since 1998.

Her question would be has the mortgage timed out too and could interest have acrued if there is still a debt? The bank holds the deeds on the property the mortgage relates too.

Regards,

Brian.

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