HALIFAX - undersold? (more info)

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Hi all

Further to my previous post below, in which I outlined how the Halifax sold my former home for less than 7000 against my mortgage of 24500, leaving me with a 20000 shortfall after costs etc...

As I mentioned, the Halifax sold it through Halifax Estate Agents after only one valuation - a fact which I thought seemed rather cosy and convenient. Well after reading some older posts on this site I've just found out it was even cosier than I thought... the sole valuation was by Colleys, who I now find out are a division of... the HALIFAX!

This whole thing gets more rotten by the day. I really cant understand how these people can get away with this kind of behaviour. The one thing this info does is make me even more determined to fight this.

Any comments would be appreciated.

Ron

-- Ron (ronmac39@hotmail.com), June 19, 2003

Answers

Keep on digging! you might have been told that the market was sluggish and that there was only a few people viewing your house which is an excuse they use to undersell.

My lender used this excuse... But after sarning the estate agent, lenders solictitor etc I found that there was ten viewings rather the the 3 they originally said. Their lawyers even sent me the records of every person who viewed...(not appropriate under the data protection act).

Remember to check Land Registry records for any similiar/identical houses sold around the same time...the comparisions might be a help to you !

Good luck

-- moira (Anderston828@aol.com), June 19, 2003.


Ron,

If you haven't already I would get your local MP involved too, if he's not interested try Mike Hancock or one of the MPs who signed his EDM 62 (see "Repossession" page on this site). Let us know how you get on. Good Luck.

Mark.

-- M Amos (idgroms@hotmail.com), June 20, 2003.


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