The Mortgage Works (TMW) Redemption figure – Help!Make Text Bigger
We have five portfolio loan accounts with TMW. These five portfolio loans are held under one account number. We have a buyer on one our properties in the South of England and requested a release figure in June.
TMW wrote and requested 16 internal valuations of properties we hold in the a North of England. We called and argued that any fall in the North had been more than compensated by the rise in the South. They asked us to email an individual with up to date valuations in the South and wait a response. We have chased as has our solicitor.
10 days ago they said they could not proceed without the 16 valuations. We asked if they were happy with the valuations provided and asked for details of their complaints procedure. They have again not replied.
Our solicitor said they should provide a redemption within 20 working days but it will take longer than that to arrange agreeable access to 16 properties that are all tenanted. Also I cannot see why they are valuing properties from differing loan accounts. They claim I have one loan account with 5 sub accounts, but each ‘sub’ account has specific properties within it and charges a differing rate and has a different end date.
Anybody out there able to help?
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