[ Post New Message | Post Reply to this One | Send Private Email to Gordon Bennet | Help ]

Response to in simple terms what does the outcome of the court of appeal cases mean?

from Gordon Bennet (arsenewhinger@hotmail.com)
The full judgements have not yet been published Sally, but as far as I can tell from what has been posted here, the Court of Appeal has decided that a lender has 12 years to bring to court an action for recovery of debt arising out of a mortgage contract, and this time runs from the point at which they knew there was a problem which is to say after two or three failures by the borrower to pay their monthly mortgage payments ie. much earlier than the lenders have been willing to admit up to now. The Court of Appeal did not apparently decide on the issue of whether or not payouts from insurers on Mortgage Indemnity Policies are 12 year or 6 year limited debts. The time limit is also affected by acknowledgements of the debt and payments made to service the debt. You say that you are being taken to court. Have you been served with a summons or is this action threatened by solicitors acting for the lender?
(posted 7897 days ago)

[ Previous | Next ]