Response to Mortgage Shortfall Limitation -12 years or 6 years ?

Surely if MIG payments are, as lenders continually point out, a private matter between themselves and the insurers, the entire debt regardless of any MIG issue is pursuable for 12 years from the default date. However, any element relating to interest on arrears is, as the Limitation Act s20 makes clear, limited to 6 years from accrual. The fact that it is now (a little) clearer that it is the date of default on the mortgage contract when the clock starts ticking, NOT the date of repo or sale, should help many people who, like me, tried desperately but unsuccessfully to pay obscene monthly repayments for several years in the early 90s. (Gosh Citibank, you really haven't got very long left to chase me!!)

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