We had our house repossessed in August 1995.....We had a second mortgage on the house by the house builders of £22000.00....We have a letter in our possession received today that we owe them this letter...apparently when the house was sold it didnt fetch enough to clear their debt....so they were obliged to discharge it. From that day to this we havent heard from them,althought they knew where we live.nOW 6 YEARS LATER THEY ARE CHASING US.sAYING WE HAVE BREACHED THE MORTGAGE CODE......SURELY WHEN THE HOUSE WAS SOLD THAT FINISHED. WHAT SHALL WE DO...HOW DO WE STAND THANKYOU

R A FOX

-- Rachel and Jeremy Fox (r.fox@talk21.com), February 20, 2002

Answers

If you had the house repossessed in August 1995, then six years from that is August last year, but it is the date upon which the house is sold that counts and that is what you need to discover.

Counting from that date, if its less than six years, then they have right to chase you, but as they are not mortgagees in the Building Society sense, they may have 12 years as the house purchase was a document under seal.

You need to take some qualified legal advice on this quickly - in the meantime, before you have done so, do not answer the letter.

-- David J. Button (davidjohnbutton@supanet.com), February 20, 2002.