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LENDER DENIES CASHING-IN ENDOWEMENT POLICIES!!!

from (spooley@madasafish.com)
We are being chased for mortgage shortfall following voluntary reposession in july 1993. Home sold in january 1994. Prior to moving out of property (march 1993) the building society converted the mortgage to a "repayment mortgage" due to the fact that we stopped our monthly payments on our endowement policies.

Within a week of our departure, the building society cashed-in the policies. The solicitors dealing with the case (dibb lupton alsop) deny that their clients (a.national) did anything of the sort, but we have letters from all endowement companies concerned that our information is correct.

We know that this will help our case should they serve a writ, but what we are more interested in is this : Did a.national have any right at all to cash-in the policies seeing that the mortgage had been previously converted to "the repayment basis".

Any answers would be much appreciated, thanks.

(posted 8716 days ago)

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