Pox wrote:'£98,000 extra for the work ' - according to Craig - wow, a lot worse than I thought.
No wonder Tom looks ill.
Would that be 98k on top of the original loan plus interest?
If so, 98k for what? Seems a bit steep to me.
A standard mortgage possession case, defended by the borrower, which results in, say, two or three court hearings, then an application for a warrant, various applications to suspend the warrant, an eventual repossession with the attendance of a court bailiff, a locksmith and an agent for the mortgage lender, then the need to have the property properly valued (at least two independent valuations by local agents), the appointment of solicitors and estate agents to sell the property, possibly the need to appoint asset managers if the property's unsold for a while or the borrower's being difficult and/or alleging the property's being allowed to deteriorate - you're looking at costs of probably around £20,000 over a period of 6-9 months, if you take into account all the solicitors' costs, court fees, third party fees, and interest continuing to accrue against the outstanding loan until the property's eventually sold ... So £98K for the Crawford fiasco is no surprise to me.