Response to HAS ANYONE GOT A DEFINITIVE ANSWER ON THE 6 YEAR RULE?

Unfortunately it would appear that there is no 'definitive' answer on the six year rule, in the sense that all lenders, borrowers and the law courts are now working to some common understanding. The banks and building societies themselves unsurprisingly interpret the six year rule to their best advantage - for example, according to one major lender it starts from the sale of the repossessed property, and 'recovery proceedings' are deemed by the lender to have commenced from the issuing of their contact letter. Other lenders are loathe to even give out this much information. However, other observers who are not in the lenders' camp argue that this interpetation is not one which would be upheld in a court - see, for example, a recent newsletter issued by this web page, in which a barrister is quoted as saying that in his opinion the clock starts ticking the minute a borrower first defaults on the mortgage. Basically, it's a shambles. But that shouldn't deter exborrowers from arguing the six year rule. All best, Eleanor Scott.

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