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Hi
I wonder whether anyone can advise on the following?
I took out a secured loan in April 2004 with my husband for £40K paying £518 per month.
We separated in October 2009 and he remained in the property against which the loan is secured with the agreement that he would continue paying the loan. A long story but last year I received notification from FP that he had not made the loan repayments for several months and they were taking us to court for repossession.
The court hearnig went ahead and an Order for possession was issued (dated 20 June 2011) with the following wording:
Court orders that:
1. The defendant give the claimant possession of (property address) on of before 20 September 2011
2. The defendant pay the claimant £31, 764 for mortgage
3. Upon it being agreed that the defendant shall pay by installments £600 per month.
4. Money judgment in the sum of £31, 764 not to be enforced withot the Courts Permission.
Since the above, my PPI complaint was upheld which paid off the arrears, FP have agreed not to pursue repossession. In the PPI offer (made in September 2011) FP have quoted their loan balance of £30 564 (which ties in with the above figure) to be reduced to £19712 with the PPI redress.
We now wish to sell out property and have asked FP for an updated redemption figure which they cquote as £33611 (more than the original amount agreed in court).
Can anyone advise, based no the above, whether we have a basis on which to challenge this latest figure?
I wonder whether anyone can advise on the following?
I took out a secured loan in April 2004 with my husband for £40K paying £518 per month.
We separated in October 2009 and he remained in the property against which the loan is secured with the agreement that he would continue paying the loan. A long story but last year I received notification from FP that he had not made the loan repayments for several months and they were taking us to court for repossession.
The court hearnig went ahead and an Order for possession was issued (dated 20 June 2011) with the following wording:
Court orders that:
1. The defendant give the claimant possession of (property address) on of before 20 September 2011
2. The defendant pay the claimant £31, 764 for mortgage
3. Upon it being agreed that the defendant shall pay by installments £600 per month.
4. Money judgment in the sum of £31, 764 not to be enforced withot the Courts Permission.
Since the above, my PPI complaint was upheld which paid off the arrears, FP have agreed not to pursue repossession. In the PPI offer (made in September 2011) FP have quoted their loan balance of £30 564 (which ties in with the above figure) to be reduced to £19712 with the PPI redress.
We now wish to sell out property and have asked FP for an updated redemption figure which they cquote as £33611 (more than the original amount agreed in court).
Can anyone advise, based no the above, whether we have a basis on which to challenge this latest figure?
