Opinions on where I stand

I purchased with my first wife a property in late 1988. She worked for a bank and recieved a Mortgage subsidy. I have a letter from the BS stating that they have no record of asking for or recieving proof of this subsidy at time of Mortgage inception but feel that they must have considered it as our incomes did not meet their lending criteria. After a messy divorce (partially induced by the financial stress that this mortgage placed on us) we agreed to sell the property. I notified the BS of my new address. My ex wife continued living in the house during the marketing process and then decided that she wanted the house herself. I attended the local BS branch and signed a Transfer Subject to mortgage in early 1991 and never heard another word on the subject. In April of 1992 I emigrated in order to start a new life with my new wife. I returned to the UK in 1998 with my wife and three young children. In the middle of 2001 I recieved a letter from a collection agence saying that I owed over 27,000 on this mortgage. A mortgage that I thought was now in my ex-wifes name. The BS has supplied me with copies of correspondence and various info (Not the Deeds - they told me to get this from the land registry as they do not have them, Not the MIG, Not the Valuations and the Have said that they have No Money Order Judgement.) All of the correspodence has been addressed to the mortgaged property (except one or two pieces dated after I had emigrated) including a letter staing that the Transfer subject to Mortgage was unsucessful, hence my not being aware that I was still obligated. Also the Notice of sales was addressed to the reposessed property. Surely this cannot be right as this is the property that they sold on the day that the letter was dated, had been in their posession for 6 months and the property where they had the letterbox secured with screws. Six years from date of sale is up on the 27.1.2001 which is why they are really pushing for a completed Financial Analysis with threats of court action. Also does anyone remember what the interest rates were in the early '90s. They were charging this account 15.4%. Any words of wisdom would be welcome.

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