Response to The HALIFAX Give A Public Definition Of When The Six Year Rules Starts

The problem is "opportunity to sue" is not defined in Law. I tried this route with my Lender - as the mortgage was "technically" in default over a year before the repossession and obviously longer than that before they sold the property. The contract - the mortgage - is legally broken when you are in default. The default period is defined in your Terms and Conditions - e.g. after two payments are missed the Lender can ask for the full amount to be repaid etc. This is the key - "can" ask...so they, to an extent, determine the default date. No prizes for guessing that they choose the sale date of the property in most cases. Think about it - they can claim they tried to contact you etc etc for two years, sell a run down empty property for a song then come after you when they feel like it. Most people panic when they get that first letter and call them - so then they have you for the next twelve years. Fair and above-board? I think not.

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