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Mortgage Shortfall Debt Claim Assessment

Shortfall/Mortgage Shortfall Debt disputes or Mortgage Shortfall Debt claims provoke similar concerns and frequently the same questions:

"Can the lender keep on chasing me for this mortgage shortfall debt claim?" - "Is the claim for my mortgage shortfall debt statute barred?" - " Surely lenders can't chase me for this long on a past mortgage debt?" - "Do I have any defence?" - "What are my legal rights?" - "Can they repossess my current home from a past mortgage debt?" - "I gave the lender voluntary repossession, does that help?" - "I've been paying agreed monthly payments for years now - suddenly the lender has written saying they want full payment now or my house - can they do that?" - "My partner is now abroad/dead/missing, will the debt have to be paid by me alone?" - "I haven't heard from my partner since the repossession 10 years ago and now I have solicitors writing to me asking for my proposals for the mortgage shortfall debt from that property - can they do this?" .

Note: General collection procedures by lenders remain as tough today as at the time of our Mortgage Shortfall Debt Survey. But, new case law has provided lenders with increased options - the most important being twelve years in which to commence action to recover a mortgage shortfall debt. The six year code mentioned in our survey cannot be relied upon any longer for 'defence' in mortgage shortfall debt claims.

If you would like us to provide a general assessment to allow you to gain a clearer picture of your possible exposure to a mortgage shortfall debt claim and the help that may be available to assist you in resolving it, then please answer the questions below and send us the completed Questionaire, which should be returned to us making sure you have provided your full name and email address for our response. We will not reply to those who wish to remain anonymous.

 

If you haven't heard of IBAS before today then it's natural you will want to know our 'pedigree' - you will find our national newspaper comments for 2008 here plus many more in the News and archives sections of our site - see our site map. IBAS has featured in BBC TV and ITV News items and programmes on banking and the banking issues many times since we were established in 1992.

Please note: This form should only be completed by the person to whom the shortfall relates. We are unable to provide assessments for a third party.

IBAS Mortgage Shortfall Questionnaire

Please complete all questions relevant to your situation as accurately as possible
  • Name of bank/lender claiming shortfall?
  • Do they have an agent/solicitor acting for them - if so who?
  • What is the reference shown (by them) on the latest letter?
  • How much is being claimed?
    •
  • Approx when did the repossession happen?
  • Approx when did you first fall into arrears with the mortgage?
  • Approx when was the property sold?
  • Was the mortgage in your name only or with another person/s?
  • If yes, are you and that person/s still living together?
  • Approx when did you first know there was a shortfall?
  • Have you ever written or spoken to the lender or their agent/solicitor?
  • When?
  • Have you ever provided them with details of your income and expenditure?
  • Have you ever made an offer of payment?
  • Have you ever made a payment/s?
  • If you no longer live with the other party are you still in contact?
  • Do you know if they have ever made an offer or payment/s?
  • Do you own your current home?
  • When did you buy that property?
  • Is there any equity (current value less outstanding mortgage/s)?
  • If yes, how much?
  • Is it owned jointly with another person/s?
  • Is this the same person/s who jointly owned the repossessed property?
  • Has the lender ever suggested a settlement figure?
  • If yes, how much?
  • When?
  • Have legal proceedings been threatened to recover the shortfall?
  • Have legal proceedings actually been issued?
  • When was this?
  • Have you responded to their Claim Form?
  • Did you enter a defence?
  • Did you make any admission in part of the debt?
  • Have Allocation Questionnaires been completed?
  • Has a Case Management Meeting been listed?
  • Has the lender applied for Strike Out?
  • Has Judgment been granted by the Court?
  • Has the lender applied for a Charging Order?
  • Has the lender made a Part 36 Offer?
  • Have you ever sought help with this problem from a solicitor, CAB or other/s?
  • If so, who?
  • Are they still representing you?
  • Do you have copies of all your paperwork?

Your name: _______________________      Home Tel: _____________________

Present address: _____________________________________________________

____________________________________ Post Code: _______________

email address: ____________________________

Please copy the above questions, then complete with your answers and put the completed questionnaire into an email to us - using the email link below.

If you require truly independent and impartial banking advice plus direct assistance from a unique specialist organization campaigning on banking issues, which directly helps our members email us or call us on 01487 843444 for membership.  

Independent Banking Advisory Service (IBAS) is a national, independent, non-profit, unique specialist banking customer membership organization which resolves banking complaints and disputes and which has campaigned on UK Banking customer issues since 1992. We provide bank and banking assessment, analysis, bank comment and content for BBC TV News, ITV, Radio and national newspapers, keeping many serious banking issues 'alive' - see Bank News 2008