I have an ongoing fight with Britannia via Drydens for a property that was repossed in 1999. My question is that after serving a SARNs amoungst other things the Mortgage Deed has the wrong address on it.

Can anyone tell me how I stand?

-- Harry Fowler (qokisdan@hotmail.com), June 18, 2004

Answers

You are very, very unlikely to evade liability by the fact that the wrong address is on the mortgage deed - this will be accepted by a court for the mistake it is - the facts are that you borrowed £x000's to purchase a property - that property, whatever the address, was repossessed and you owe the shortfall.

Sorry, but there it is - not the answer you wanted I am afraid.

-- David J. Button (davidjohnbutton@supanet.com), June 20, 2004.

Thanks David, no it wasn't however I still have a lot more on them. At the moment they are refusing to hand over the MIG which was puchased in 1989 and the mortgage deed does not mention anything about shortfall being treated as part of the original debt. The mere fact that they keep refusing to hand over the MIG after repeated attempts makes me suspicios.

Another thing is that two of the valuations by the Britannia prior to the sale and after repossession show the property was sold 1000.00 pounds under those valuations even after an offer was made higher than the eventual sale price at the same time?

One last thing, the Mortgage deed is only one page with the usual signitures and provides a few conditions on it some refering to the Mortgage terms and conditions which as I mentioned previously makes no referal to the shortfall being treated as part of the original debt. Is one page that they have provided me all I should expect or are there other pages that they have not provided me?

I would appreciate your comments David.

-- Harry Fowler (qokisdan@hotmail.com), June 20, 2004.

I am not entirely surprised they are refusing to hand over the MIG because the BS stance has always been that whilst you paid for the MIG, the BS was the beneficiary, not you - I believe there is case law that supports this.

Mortgage deeds vary in terms of style, number of sheets etc. Some may only be one page and then refer to "General Conditions" which are on a separate sheet, fold, or batch of papers.

When you were repossessed - if this was done by a possession order rather than you voluntarily moving out, the judge, at the time, would have asked to see the mortgage deed to ensure it was in order - if it was not, then a PO could not be granted.

-- David J. Button (davidjohnbutton@supanet.com), June 21, 2004.

Thanks again David. So are you saying that the comments on this site regarding 'older MIG's' prior to 1989 may not mean anything at all? Do I not still have the right to 'strict proof' before relpying to their claim? Also I would welcome your thoughts on the underselling I mentioned earlier, I have evidence from the Natioinwide's website that indicates the property would have been worth at least 6000 - 12000 pounds more than they sold it for depending on when they calculate I agreed the sale price or when we settled the purchase. Also the fact they had a higher offer which they refused at the same time they sold it to the lower offer.

Again your comments would be appreciated.

-- Harry Fowler (qokisdan@hotmail.com), June 21, 2004.

What I said about the MIG's was from my understanding that the parties are the MIG Insurer and the BS and as such, third parties do not have the right to dispute the arrangement which would include sight of the MIG document itself.

Underselling is very difficult to prove - all the BS has to do is prove/show that they sold at the best they could get at the time - so an offer shall we acadmically say of £30,000 from a man with cash (i.e. no mortgage to obtain) would get preference over the man who offers £40,000 but needs to fund the purchase with a mortgage. You are potentially on a sticky wicket here.

As to proof, yes, you are entitled to put the lender to strict proof of the debt - I think you will find that they will be able to show the above regarding sale and all the ancillary costs plus the ongoing mortgage premiums from repossession to sale and that it will all add up correctly.

You perhaps ought to be thinking along the lines of making a settlement offer - there is plenty of guidance in this forum from those who have done this - successfully.

Good luck with it.

-- David J. Button (davidjohnbutton@supanet.com), June 21, 2004.