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Response to Scottish Law

from Eleanor Scott (eleanor.scott@btinternet.com)
Jo,

I've been trying to find this out for you, and my understanding is that whereas in England & Wales the Limitations Act states that a person can be pursued for up to 6 years for simple debt and 12 years for specialty debt, in Scotland it is 5 years and 20 years.

Will someone please jump in and answer the main part of Jo's question - which law applies? Presumably Scottish? But wouldn't she have to be summonsed to a court near where she lives in England?

Jo - another question is whether or not your shortfall is simple or specialty debt. You need to see your mortgage deed to be sure.

But your lender probably won't show you this. Ask yourself why.

Don't forget the main issue - did your lender undervalue, or undersell, or under-market your repossessed property?

(posted 8476 days ago)

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