Just received a letter from the Abbey telling me..

"Unfortunately we are unable to provide you with a copy of the terms and conditions of the indemnity policy as, like the policy itself, this is privileged information"

This refers to my request for info re the MIG.

Have they shot themselves in the foot by denying me this info and should I write back to them insisting for the info? Any advice anyone?

Also the abbey wrote to me telling me there was only one offer made on my house and on 4 viewings. I've found there was actually 3 offers and 10 viewings. They're arguing the market was slow etc which is why they've lied about the number of viewings. These ten viewings took place within the 14 weeks of reposession so I wouldn't think that was a bad response. All the offers were well below the market price but I think this is because the viewers must have been told it was a reposession. One person put in an offer of only £54,000 yet on their surveyors report it says the cost of re building would be £75,000. Am I right to think the difference in purchase price and rebuild pice for insurance purposes shouln't be as great as this?? Any advice anyone???

Do I tell the Abbey that I know they've lied about the number of viewings and offers???

-- hanging in there! (Anderston828@aol.com), October 21, 2002

Answers

The cost of a re-build is alays a lot higher than the 'value' of a house so wouldn't get side-racked by this red herring.

You have encountered the common refusal of lenders to supply information about MIGs. See this site, 'Repossession', 'why lenders refuse to supply documents'.

That they lied about the marketing issue is significant. Keep asking for proof that they valued, marketed and sold the property properly and fairly. That is your right. If you encounter discrepancies in their written statements, you might consider asking the Information Commissioner for an 'assessment request' on the grounds that the lender is holding information about you that is inaccurate and not fit for its purpose.

Why? It all adds up to weakening the lender's 'case' against you. It makes their threats all the more shallow and gives your confidence a boost. These lenders thrive on scaring you into submission. The want you to pay up on unproven 'debts' just to get yur life back; I strongly suspect that at least one lender knows how much people are capable of borrowing and asks for this exact sum as 'settlement' of the alleged 'debt'.

How strong are you? If you follow Lee's advice on this site, you may find it stressful in the short term to fight, but beneficial in the long term to make your stand.

-- E (eleanor.scott@btinternet.com), October 21, 2002.