Mr Devine,(posted 7708 days ago)I don't disagree with what you say about selling quickly i.e. that it could insinuate that the lender sold the property without giving due consideration to the sale price. If this was their only reason, why not say so? I don't know whether the lender did anything wrong as they refused to justify their actions. My real point was that the lender, in my opinion, should act in a responsible manner and justify why this reasonable offer was turned down. This I consider to be both fair and reasonable. In the UK Mortgage Code lenders are supposed to act fairly and reasonably in all their dealings with Mortgagors. The CML state that lenders are committed to fair and sympathetic treatment of people who have suffered repossession.
P.S. I've just checked, the property in question was eventually sold some 2 years after the offer of 52K, and the Mortgagor charged interest on those 2 years.