law property act 1925 : LUSENET : Repossession : One Thread

I have a while ago voluntarily handed back the keys to my house after defaulting on my mortgage agreement with the C&G BS.

I have recently been made aware they have sold the property and there is a likely shortfall of say 26k.

The sale was completed on the 31st march this year.

I discovered this by contacting there recoveries section.

I have not been contacted regarding the sale and have spoken to people in the area who did not see any statuary notices on the property before the sale.

Could you advise if I should pursue the BS on this matter.

And direct me to some relevant case examples.

They have not traced my whereabouts yet.



-- kevin scott (, June 22, 2001


My view is yes you can hit them with this, especially as it was so recent.

In reality, however, the relevant section of the 1925 act allow you two weeks to remove your 'goods and chattels' and requires them to put the notice up on the property PLUS tell you directly if they know where you live. On the basis that your goods were likely to have already been removed by you, any remaining are unlikely to amount to 26K in value... so, although the act is in your favour, it would also be a weapon to mitigate the claim, not dismiss it.

Better angles for you to pursue are to a) keep any letters regarding the voluntary repossession; did they assure you they would be sympathetic etc b) when the property was sold, did it go for the market value? who sold it, how was it marketed etc etc? They have a statutory duty (i think under 1986 or 1981 building society act but perhaps somebody could clarify?) to obtain best price for the property but in my experience they tend so sell quickly and cheaply.

good luck

-- (, June 22, 2001.

Kevin, You should definitely pursue the C&G B/soc. The Building Society Act 1986 requires the lender to 'obtain the best price reasonably available'.Depending upon the market conditions this can mean either- the best of a bad job in a slow selling market or THE BEST OF MORE THAN ONE OFFER in a sellers market. (It depends on what is happening to property sales around the relevant area.) To obtain the 'best price' the property should have been marketed with that in mind. Serve a Subject Access Rights Notice (Data Protection Act)on the C&G requesting copies of ALL data relating to your case - and I mean ALL. This should include full details of ALL marketing activities carried out and by whom, copies of 2 x INDEPENDENT valuations prior to a 'For Sale' notice being erected at the property. (Pigs might fly!!) You have a legal right to this information so don't be fobbed off! Don't pay more than 10.00 for ALL the information and send the letter Recorded Delivery so they can't say that they haven't received it. Carry out your own research as to prices being achieved on similar properties in the area; check the archives of the local paper in which properties are usally advertised. Ask around the neighbours to see whether they observed any people viewing the property etc. Don't be afraid about C&G knowing your address - I'm sure you haven't committed a crime ! I had a *lovely* time with the same lender so if you wish to e-mail me direct please feel to do so. Keep us posted as to what it is happening Kevin - there are many people who regularly visit this who are more than helpful and understand only too well just what experience you are going through. Regards, Joy.

-- Joy Harker (, June 22, 2001.


I forgot to say in my previous answer - don't ring them up!! Put everything in writing to them and keep safely copies of those letters, all documents and correspondence from them (even the envelopes). Good luck, Joy

-- Joy Harker (, June 22, 2001.

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