[ Post New Message | Post Reply to this One | Send Private Email to M Amos | Help ]

Response to Halifax Arrangement Negotiation

from M Amos (idgroms@hotmail.com)
Mel,

This sounds very peculiar to me. Firstly, you should not make any offer of settlement until the property has been sold and any shortfall proven (if that is what you decide on). Don't send them any income & expenditure details at this stage. Perhaps the lender has reached a verbal agreement on a possible sale price, but it all sounds highly irregular to me. I believe the Halifax are members of the CML (Council of Mortgage Lenders) but you need to check. You can check whether a lender subscribes to the Mortgage Code by phoning The Mortgage Code Compliance Board on 01785 218200. If they are members, and I would be very surprised if a big lender like this isn't, I would explain what is happening to the Mortgage Code Compliance Board, as it appears to me Halifax are in breach of the Mortgage Code. How, for example can they threaten you with "taking further recovery action" when they still don't know what there is to recover, & give you 14 days to reply? How can they expect you to agree a settlement or repayment program on a hypothetical amount? Is this their fair and sympathetic treatment ? See the CML web page Debt Following Mortgage Possession on: http://www.cml.org.uk/servlet/dycon/zt- cml/cml/live/en/cml/pub_info_dept

Also "Handling of Arrears and Possessions" http://www.cml.org.uk/servlet/dycon/zt- cml/cml/live/en/cml/pub_info_arrears

If the situation is as you say I think you have grounds for a complaint. The Office of Fair Trading might be worth ringing too. I would contact the Compliance Board first and also take professional advice on this before replying. I'll see if I can also get a legal opinion for you too. To avoid acknowledging the alleged debt just make sure you state that you deny liablity and dispute the claim, more than reasonable at the moment as they haven't even sold the property!!!! I would also include the words "Without prejudice" in any communications. I would be very interested to hear how you get on. Good Luck.

Mark

(posted 7623 days ago)

[ Previous | Next ]