Response to Advice needed in re po case

Steve,

Not much to add to the above. As has been stated already the alleged shortfall may be statute barred if no acknowledgement or part payment has been made. The 12 year limitation period usually commences from the 2nd or 3rd missed mortgage payment (subject to terms and conditions in your mortgage) see Bristol & West v Bartlett. http://www.bailii.org/cgi-bin/markup.cgi? doc=/ew/cases/EWCA/Civ/2002/1181.html&query=bristol%20&%20west%20v% 20bartlett

Any acknowledgement made after the expiry of the 12 year period won't restart the limitation period I believe. I'd also check out the CML angle as already suggested. Another point to bear in mind given that they are claiming a huge lump of interest is the following:

"Is the lender claiming statutory interest? If so, liability for any such interest that relates to more than 6 years ago should be denied - as it is statutory interest, it comes under LA s9, a sum recoverable under a statute, and is limited to the last 6 years."

Have a look at my posting under skipton...can anyone help,mortgage shortfall(interest) you will find more info here.

People that can help:

You could contact Ahmed Bhutt (who I am told is an exceptional advice worker) at the Mary Ward Legal Centre 26-27 Boswell Street, London WC1N 3JZ Tel : (020) 7831 7079. Another possibility is Derek McConnell He is at South West Law Services (Legal Services in the Community) Ltd, 1 hide Market, West St, Old Market, Bristol BS2 0BH (0117 314 6400).

Another person you could try is Mike at Mike Thomas Michael Thomas Consultancy Ltd 01376 563365. He works on a no win no fee basis. There is the NAMV and of course the CAB.

Hope this helps,

Mark.

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