• How Long Can A Mortgage Be Held When Not Paid?

    By Guest on 25th Mar 2015

    Hi.my mother lives in a property bought by my dad around 1985. My dad went bankrupt, 1991? The bank never completed repossessing the property and despite an initial letter to ask my mother to move out in 1992? There has been no further contact from the bank to either person. There is a charge in the property from the initial mortgage and a second mortgage. The court has now ordered the house be transferred into my mothers name (matrimonial matters). We have contacted the bank to ask the charge be released. Would they need to write this off because they have not chased this or would they still have legal redress to chase the charge? Also if they were able to chase the charge could this remain in my fathers name rather than transferring with the deeds to the house? Many thanks

  • 1 Answers

    By Guest on 12/10/2016

    The lender cannot take action to recover the debt once 12 years have elapsed since it became due but I believe the clock only starts running from the date on which the lender last made contact so the exact date they asked your mother to vacate is crucial

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