S.O.S.-STOP REPOSSESSION ,insurance problem ?
S.O.S.-STOP REPOSSESSION ,insurance problem ?
On 10th February, the Britannia Building Society intends to repossess
my brother's house, thereby making him, his wife and his children
homeless,unless substantial mortgage arrears can be met by that date.
However, my brother has two offers on his property (giving positive
equity), either of which would take about eight weeks to complete. The
Britannia Building Society has been made aware of these offers but refuses
to allow my brother to accept either of them, unless they could be
completed by the above date. This is both untenable and illogical, as
it prevents my brother from paying off his outstanding debts and
realising whatever capital sum may be leftover. It is highly unlikely
that the Britannia could achieve the market value in a sale following
foreclosure and might even fail to recover its investment.
If anyone reading this has any thoughts or advice on how to stop such
a ludicrous travesty of justice
- Get the offers in writing, including their value and date. Keep those
offers safe.
You may find more useful information on the Home Repossession Page at:
www.users.dircon.co.uk/~lee-k/
- a) its an indemnity, not