Will we have to sell our home.
Going forward, it would be best if the bank let Mr. P sell the BTL and they write down his NE. The more he demonstrates he cannot afford it and the more he shows he owns nothing, the more likely a bank will do a deal.
Ask them (in writing) to forward the written letter requesting this to you as you seem to have not received it. No offence but your husband is right to at least stand up to these people. how many missed payments ? What is the total outstanding debt and what is the current expected value if you sell ? You may be in a stronger position than you think.we have no recollection or paperwork relating to this and there has been missed payments (
Send it again reminding them that all correspondence from now on must be done in writing. Reply to all letters from now on and keep copies of them. Until you get a copy of this keep answering that you are awaiting their response.A few months ago I requested all information that ulster bank and Cabot had on us nothing back. Forgot about it. Regretting it now.
Are you talking about the mortgage contract ? Or some correspondence that states they can appoint a receiver ? I'm not sure of the legality of appointing a receiver. If they are saying they can based on the fact that UB sent out a demand letter previous then ask them for a copy of that same eltter when requesting all info on file. Remember these guys are hoping you don't know the law and chance their arm with such statements. Maybe someone here can explain how a receiver can be appointed in the first place ?I’m after ransacking the house I can’t find an oyster agreement- letters about it but nothing physical.
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