non contact after repo : LUSENET : Repossession : One Thread

repossession 2 years ago, address given to Britannia for forwarding details of any short fall. this request was given 3 times, once after sale had gone through. we have never had any reponse. we have a new house purchase going through, new lender requested letter stating any shortfall is cleared. called britannia asking for this, after 3 calls, thye finally stated we owe £5700. at first they implied that forwarding address never gave mail, then admitted that they don't know why we were not informed as requested. we are in danger now of losing the house we are in the process of purchasing because of this (we can not raise an extra £6000 on top of deposit/stamp duty/costs etc). we would have paid this if we had known, as we have cleared all debts we had.

does this conflict with the FSA code, 13.6.3 A firm must ensure that, as soon as possible after the sale of a repossessed property, if the proceeds of sale are less than the amount of the customerís debt, the customer is informed in a durable medium

-- justina hancock (, December 03, 2004



Regarding the conflict question, I would give the FSA a ring to check this. Also, you say Britannia state that you owe them £5,700, don't make the mistake that so many of us have done, that is to trust a financial institution. Make them justify this claim, you could start by sarning the lender. Be careful too of them placing a charge on your new property, this can accumulate interest as well. Good Luck.


-- M Amos (, December 06, 2004.

Moderation questions? read the FAQ