Vulture Slayer
Registered User
- Messages
- 6
Hi All
I probably should have posted here before for advice but I thought I was out of the wood...turns out I am not.
My situation is that after separating from my wife we were engaged in MARPS process with BOS for a number of years so that she could stay in house when full mortgage payments became unsustainable. Deal was that we paid interest plus token amount of capital and that we would sell the house in 2017.
When Tanager took over the loan they took a harder line and to cut a long story short we found a buyer off market and cut a deal with them for full and final settlement. The figures were €789k owed, Sale price €705k and settlement €670k.
Unfortunately it turned out there was a problem with the title due to a front garden that had been given to us by developer but wasn't registered by our solicitor (we bought the house new in 2002). We got an extension from Tanager on deal to end of November to allow title to be rectified. We got this done by the last minute and at same time our buyer had a hiccup which held things up.
We were able to get back to Tanager last week to confirm that everything was in place and buyer could guarantee closing on 15 Jan. Tanager turned around and said the deal was off.
On Monday we put together a letter listing out all the reasons why it made financial sense to them to allow us to sell house now rather than go repossesion route. Plus I got buyer to speak to them to confirm he was serions and he upped price to €712,500 so we could up settlement figure.
They contacted me today and said no deal. I am livid as it just seems to make no sense whatsoever...Like previous poster in another thread I was concerned that the right people were not getting to see full facts of case so I had specifically requested in letter that they confirm that case and letter was reviewed by credit committee and senior management. Today thewy would not give me a reason why the deal was pulled other that the passage of time and I was given no alternative options.
Given all that is at stake here I feel that this is discourteous and disrespectful behavior by Tanager to cancel agreement without a reason and to not explore options fully. I like to think I can handle myself OK and I hate to think what effect their attitude might have on more vulnerable people.
At this stage we just want out as we thought it was finally sorted. Any advice would bwe much appreciated.
Thanks
I probably should have posted here before for advice but I thought I was out of the wood...turns out I am not.
My situation is that after separating from my wife we were engaged in MARPS process with BOS for a number of years so that she could stay in house when full mortgage payments became unsustainable. Deal was that we paid interest plus token amount of capital and that we would sell the house in 2017.
When Tanager took over the loan they took a harder line and to cut a long story short we found a buyer off market and cut a deal with them for full and final settlement. The figures were €789k owed, Sale price €705k and settlement €670k.
Unfortunately it turned out there was a problem with the title due to a front garden that had been given to us by developer but wasn't registered by our solicitor (we bought the house new in 2002). We got an extension from Tanager on deal to end of November to allow title to be rectified. We got this done by the last minute and at same time our buyer had a hiccup which held things up.
We were able to get back to Tanager last week to confirm that everything was in place and buyer could guarantee closing on 15 Jan. Tanager turned around and said the deal was off.
On Monday we put together a letter listing out all the reasons why it made financial sense to them to allow us to sell house now rather than go repossesion route. Plus I got buyer to speak to them to confirm he was serions and he upped price to €712,500 so we could up settlement figure.
They contacted me today and said no deal. I am livid as it just seems to make no sense whatsoever...Like previous poster in another thread I was concerned that the right people were not getting to see full facts of case so I had specifically requested in letter that they confirm that case and letter was reviewed by credit committee and senior management. Today thewy would not give me a reason why the deal was pulled other that the passage of time and I was given no alternative options.
Given all that is at stake here I feel that this is discourteous and disrespectful behavior by Tanager to cancel agreement without a reason and to not explore options fully. I like to think I can handle myself OK and I hate to think what effect their attitude might have on more vulnerable people.
At this stage we just want out as we thought it was finally sorted. Any advice would bwe much appreciated.
Thanks