Jump to content

Mortgage Shortfall Debt


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2022 days.

If you need to add something to this thread then


Please click the "Report " link


at the bottom of one of the posts.


If you want to post a new story then


Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 



Recommended Posts

Hello All,


This is my first post on here although I have done a tremendous amount of reading on the site trying to work out the best course of action for my wife and our family. I will try to keep it short and succinct:


We bought a house in 2007, with a GMAC mortgage, I lost my job in 2009 and we ended up in arrears, the mortgage changed to Mortgage Express, the house was sold with a shortfall of £30k. We have been paying £50/month ever since up to last month (April 2016).


I received a letter from a solicitors mid March saying they were acting for their client Bradford and Bingley regading the arrears remaining following the sale of the property, now £28k plus. Enclosed was an income and expenditure form, also request for details of vehicles we own, bank accounts, savings, shares, finally a statement to sign acknowledging liability for the outstanding debt and our offer of repayment either monthly or a lump sum.


A called them as they were calling me 4 times a day continuously. The info given to me on the phone was that they now owned the debt and they wanted the information to setup a plan for us to repay it. I have filled in the form but not sent it off or had any other contact with them yet.


I would just like to point out at this point that they have the wrong address for us as we have moved into rented property due to an impending permanent move abroad, I still have access to the old address and any post ariving there. It maybe wrong but I do not feel obligated to give this company our new address. Or should I setup and carry on paying the £50 ish/month and/or give them new address and setup new plan? Many morale questions but the immeadiate action is most important which will lead to the future plan. We are departing the Uk next year.


Thanks in advance for any advice and experience..

Edited by Fletch25
Link to post
Share on other sites

I would write to them (by recorded delivery), telling them that you already have a payment plan of £50 per month, which the lender was happy to accept, and you are unable to offer more. You should also send a Subject Access Request to the original lender asking for details of how the sale was conducted, charges levied on the account etc (we can help you with that).

Help us to keep on helping

Please consider making a donation, however small, if you have benefited from advice on the forums



This site is run solely on donations


My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

Link to post
Share on other sites


  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?

  • Create New...