Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
13:31 PM, 21st November 2017
About A year ago
I had a property sold by my lender for what I believe was undervalued.
It comprised of a house converted with consent into 4 x 2 bed flats producing £5200 per month on ASTs.
The lender kept the property for 1.5 yrs systematically vacating each flat thus reducing income. I believe each flat should have been sold separately, but instead after such a long period exchanged contracts who subsequently sold the contract at auction 2 weeks later and made £160k profit!
Does anyone know if any other cases of this kind have been reported or any comments greatly appreciated.
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