I am in the process of selling my property for a sum which would meet the outstanding debt and all costs. The sale is proceeding well but is being slowed up as it is leashold and the purchasers solicitors are asking lots of questions. I have a court date for reposession which is before I can reasonably expect to exchange contracts and complete - All I need is a 28 day extension. However the original court date has already been adjourned twice by the building society - once for their benefit and once for mine and they now say that they will not agree to any further adjournments. I have been told that I should apply for an emergency adjournment on the day of the proceedings at a cost of #50 - does anyone know what this is and will it work ? - any other suggestions would be appreciated - I am so close to ridding myself of this problem once and for all and without any debt being left behind but I need a bit more time. I am unable to make any interim payments on the mortgage so cannot stave of the proceedings that way - help please !

-- Guy Parker (guyman@btinternet.com), September 18, 2000

Answers

If a lawyer gave you the emergency injunction advice then I'd be inclined to accept it. Get as much evidence of the potential sale together as you can.

But if this was not the advice of a lawyer, get as much evidence of the potential sale together as I can and then go to a solicitor and ask them to assess the chances of another adjournment. don't be put off by the threats of the lender.

But please do name them here. Doing so will help other potential customers steer clear of them.

Lee

-- Lee (repossession@bigfoot.com), September 19, 2000.

Thanks Lee - it's Nationwide. I am hoping the judge will see sense and allow the sale to proceed by accepting the adjournement - I cannot believe they would do otherwise - the adjournement is on my solicitors advice.

-- guy (guyman@btinternet.com), September 20, 2000.

Refer Nationwide to the following Court of Appeal Rulings -

05/01/96 Nat. Prov BS v Lloyd - Mortgage repossession may be deferred as long as necessary if sale to be completed ;

25/01/96 - Nat. Prov. BS v Lloyd - Length of suspesion of possession order to allow sale is a question for each case ; (You don't indicate whether a possession has yet been granted or if you've had any arrears build up;

02/05/96 - Bristol & West v Ellis - Mortgage repossession order to be made if no prospect of sale within 3-5 years; (In your case that's a big 'if' !!)

Finally, subject to how your account has accrued any arrears or spurious charges, see the Sunday Times 08/03/98 in which the Nationwide refunded a customer #26,500 of penalty charges. This article was a follow up to an earleir article I instigated on 22/06/97 principally about the Bradford & Bingley and their concealed 'fines'. (All Bradford & Bingley shortfall victims please note).

If the Nationwide do not have a possession order already, then put them to 'strict proof' of their account and all calculations.

With best wishes. Vic

-- Vic Harper (victorcharper@aol.com), September 30, 2000.