Response to The HALIFAX Give A Public Definition Of When The Six Year Rules Starts

In my, and my advisors opinions, the 'day they realise they will make a loss' is totally irrelevant. The date the time starts is on default and as that is tricky to get 100% accurate the consensus of opinion is that it is the date of repossession that is taken for the 6/12 years to start.

I repeat that the Halifax made this statement simply to allow themselves extra time to chase people. There is nothing in law to say it is when the realised a loss would be made - that could be the date the offer was accepted, the date contacrs exchanged, date of completion.... the list is endless and therefore cannot be used.

The Halifax and others, IMHO, will take nobody to court using this as they will not win. Judges tend to be logical and take the law as it reads - the date of default is the date the clocks begins. The date of default can NEVER be when 'they realised they would make a loss'.

The end

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