Bowfin Property

Property Solutions to Sell Your House Fast For Market Value

Mortgage shortfall example explained

What Is A Mortgage Shortfall? (Mortgage Shortfall Debt After Repossession)

After a repossession the lender normally sells your property to recover the money they are owed, i.e. the mortgage. But if the proceeds they receive from the sale is less than the amount you owe the outstanding balance is called a mortgage shortfall. In the UK your mortgage company can seek repayment of any shortfall you have.

Scroll to top