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T O P I C R E V I E W
Maz
Posted - 12 October 2008 : 18:41:44 Hi, I spoke to Northern Rock who we have our main mortgage with and the guy I spoke to said our 2nd charge lender didn't need their permission to go for repossession, is this right please?? thanks
3 L A T E S T R E P L I E S (Newest First)
JulianDonnelly
Posted - 15 October 2008 : 13:04:06 Hi REXN,
Unfortunately, they do reserve the right to do so. However, the second charge lender WILL need the permission of your mortgage company to go for reposession.
Julian Donnelly Spokesperson for www.Bankruptcyhelp.org.uk Don't forget the helpline on 0800 078 9367
REXN
Posted - 13 October 2008 : 20:56:11 What if you have no equity and are keeping the monthly mortgage payments, but failing the secured loan (which is tiny in comparison)?
Will the court still reposess a family, when they will only achieve a massive shorfall which will on both debts which will end up usecured anyway?
Reviva UK
Posted - 12 October 2008 : 20:29:19 Hi
absolutely corret.
The first OR second charge lender don't need the permission of the other one to pursue posession
Paul Johns Assisted Bankruptcy Specialists Reviva UK www.revivauk.com