Northern Rock

Due to circumstance and threat of repossession have sold my property subject to contract. There is equity in the property but I also have an unsecured loan with Northern Rock, of which I am in arrears. Northern Rock have given me the impression they will take all the equity to cover some of the loan outstanding? With the loan being unsecured I didn't think they were able to do this? I have spoken to my solicitor who is handling the house sale but she doesn't seem to have a clue? Any clarity would be appreciated.

[ Previous | Next ]