Mortgage Shortfall,*** Help Needed***

[mtd4369]

I had my property in England repossessed aprox 8 years ago, I then moved to Scotland to make a new start, yesterday I received a letter from the building society saying there was a shortfall after the sale and that I need to contact them to discuss repayment plans and enclosed a form to fill in regarding my financial commitments , this is the only contact that has been made since the day I left the property 8 years ago, am I right in thinking that as they are a member of the CML that they can only enforce this debt within 6 years. Many Thanks for any advice as I am very worried about this

[nemesis45]

Re: Mortgage Shortfall,*** Help Needed***

It will depend on if the mortgage provider is a CML member.
There is no law or regulation in the CML statement it is just an
agreement made by the members.

However I'm unsure what the Scottish Limitation is on Mortgages/short falls.

nem

[mtd4369]

Re: Mortgage Shortfall,*** Help Needed***

It will depend on if the mortgage provider is a CML member.
There is no law or regulation in the CML statement it is just an
agreement made by the members.

However I'm unsure what the Scottish Limitation is on Mortgages/short falls.

nem

Thanks for the prompt reply, yes the mortgage provider is a member of the CML

[nemesis45]

Re: Mortgage Shortfall,*** Help Needed***

Remind the BS of the CML agreement, although this applies I think to enforcement they may still be able to "ask " for payment.

[Nibbler]

Re: Mortgage Shortfall,*** Help Needed***

However I'm unsure what the Scottish Limitation is on Mortgages/short falls.

nem

Should help I hope.

https://www.nationaldebtline.org/S/f...s/Default.aspx

[mtd4369]

Re: Mortgage Shortfall,*** Help Needed***

Should help I hope.

https://www.nationaldebtline.org/S/f...s/Default.aspx

that's a very helpful link Thank You