The Counsel of Mortgage lenders has stated that they will not pursue anybody after 6 years.

1) Is this 6 years from repossession ? 2) 6 years from voluntary surrender by handing in the keys ? 3) Is it 6 years from the date the house was sold by the mortgagee. 4) With respect to pursuing within the 6 year period, does pursuit include sending a chase letter, or does it require court proceedings. i.e if they write after 5 years, sue after 7, are they in breach of the code ? 5) Does anybody have a link to the full CML report on the 6 year rule

-- Glenn Ackroyd (ga@rice-jones.co.uk), March 24, 2000

Answers

CML press release of 26 1 00

pretty useless

limit runs from when last letter sent by creditor

-- (ahmadbutt@talk21.com), April 16, 2000.