Are Mars Capital silently writing off buy to let shortfalls?

M

mark71

Registered User
Messages
154
To put this as short as possible my principle and buy to let are both with Mars. I handed back the keys on the buy to let in 2013. 16 months ago they auctioned off the house where it fetched 170,000 less than what was owed on the mortgage.
I have since heard absolutely nothing form Mars about the sale, outstanding debt or anything at all about it.
Does anyone have idea if they are writing off these shortfalls? I'm a bit reluctant to go ringing them myself to find out.
My principle mortgage has no arrears.
 
I don't know Mark71. You'd hear a bit of talk on the grapevine that's all.
How did you find the process and any advice please? Was e170 much of a proportion of the loan? You needn't answer if you'd rather not divulge. Best of luck.
 
Hi gahfan, sorry only saw your post now. The 170k left over would be near 80% of the loan owed.
As for the process I just handed back the keys in a voluntary surrender. Heard nothing then I saw it go up for sale in an auction where it made less than 50% of market value for that street. I have heard absolutely nothing from them since, not even a note to say it was sold.
 
Don't worry ! I have no intention of poking the dog at all.
But I thought once a sale had been made this would re set the clock,no?
 
Another set of yearly mortgage statements arrived. Once again only for my principal property and nothing for the buy to let I handed back.
Just praying it has been writing off.
 
Looks like I'll be finally finding out if the loan is still around or has been closed. Just applied for my credit check from the Central credit register which went live yesterday.
I'll be lighting a few candles and going through the Rosary beads waiting for the email reply.
 
I doubt if the Central Credit Register has any legal validity.

In other words, if it's not up there, it does not mean that you don't owe the money.

Brendan
 
Maybe so. But I'd rather not see it there all the same.
Our principle mortgage is with Mars also so if that is there, which it should be, and the other isn't it may be an indication It's gone?
 
You must log in or register to reply here.
Back
Top