Mortgage Arrears On A Deceased's Property
My father died nine months ago, leaving debts to be paid. There are also arrears on the mortgage.
Months go by and more debts surface. Initially the house was valued at £424,000. This has now been reduced to £360,000 which i think is more realistic. I can't drop the price too much more as it may prevent my clearing all the debts.
With no buyer in sight over the summer I am not sure what to do next. Any suggestions. I live 200 miles from my father's house.
Reply: We'd suggest your first port of call would be to seek clarification of the lenders position as this may dictate what your options are.