I have a problem with Stroud & Swindon Mortgage company (a sub-prime lender) as I am in arrears with my mortgage (a re-mortgage) and they want to reposess.(posted 7172 days ago)I have a firm offer on a remortgage of £131,500 and the S&S want £132+ (£119000 for the original mortgage, 6% redemption penalties and £1,600 'other fees'). We have been to court twice and I have got a stay on the posession hearting. I offered S&S £129000 to redeem the account, but they flatly refuse, saying they believe there is sufficient equity in the property for them to want reposession. I have explained that on the last valuation it was deemed 'high' and that property prices - especially repo prices in my area have dropped and all they need to do is check the local land registry details...
Can anyone suggest any legal arguments (I am taking them to court and asking for Norgan?sp) to be applied on the arrears (*about £6,000 now) or that they be made to acceot the £129000 I have offered - which is about 98% of the money they want.
Any hep is much appreciated - I've talked them into waiting until the 17th Sept until further legal proceedings take place to allow me time to build my case.