Response to Mortgage shortfall - lump sum pay off????

Somewhere on the website it suggests making an offer of between 2 and 10 percent of the lender's claim. So 3k sounds absolutely spot on. Make sure to use all the correct wording - you need to say the offer is "in full and final settlement" of the debt, and you need to be sure to send it Special Delivery (costs £3.50), so they can't claim they haven't received it (I speak from experience - this is where a previous attempt at settlement of my own alleged debt floundered!) It is also worth making it a condition of settlement that the lender acts to erase records of the debt with credit reference agencies and any similar records held within the industry...all this is written down somewhere on the website - read it all in detail before making an offer. Good luck,

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