Response to When is 6 years actually 6 years?

lenders have six years to chase you,it really depends on the lender who is chasing you for the shortfall,they say the clock starts ticking from the date of sale to the first contact.This according to the CAB is when you are contacted and then acknowledge the shortfall e.g when they send a letter to your current address or contact you by phone.This all came into effect on FEB 11th 2000. some barristers say that the six years starts from the time you default on the mortgage this is when the lender could sue you and take you to court, it is at this tome that the contract has been broken.some lenders try it on by saying the they have sent you letters to an old address. try the CML web site it's all explained there.

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