----< Guardian claims lenders 'shortchanged' repossessees >-------
Abbey National and Cheltenham & Gloucester are named as two lenders who's lending and repossession policies allegedly damaged former customers.

The Guardian claims it has copies of internal Cheltenham & Gloucester memos in which directors ordered branch staff to get rid of repossessed properties within three months.

It's an interesting article. We'd question the real significance of the 'within 10% of valuation' target that Cheltenham & Gloucester required of offers for repossessed properties: it's normal practice for surveyors, courts, or anyone involved in property valuation to accept that valuations vary within a 10% band.

But the examples given in the story are typical of the kind of claims people see. They also illustrate that it pays to fight.
http://www.guardianunlimited.co.uk/jobs_and_money/story/0,3605,359381,00.html

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