Note of Interview with Mr. Ferguson of the Eastbourne
Mutual Building Society at his office

4th July 1947;    

RE: JOHN RIMELL

Mr. Ferguson gave me the following particulars of the mortgage:-
                                 Date of mortgage:             April 1929.
                                 Amount advanced :            £802. 18. 5d.
                                 Balance of principal
                                 at 31/12/46:                      £656. 14 .7d.
                                 Rate of Interest:                Originally 5 ½ % now 4 ½ %
                                 Original Repayments.        £4.0.9 monthly
                                 Original term                     21 years
 
The property is freehold.
 
The debtor became in arrear with his repayments to the Society at some period amounting to £89. 3. 0. Mr. Ferguson could not readily tell me whether this was before his evacuation or not but promised to let me have the dates if I would write requesting same. In any case, these arrears cannot be the subject of a Moratorium Order as the debtor had offered and the Society had agreed, to accept the £89. 3. 0. by instalments of £3. 15. 0. a month in addition to normal repayments. This would take approximately 2 years to clear. The debtor's offer was given in a letter written by him to the Society in December 1946, and confirmed by them in writing. Mr. Ferguson explained that the Society were not charging interest on the arrears of interest.
 
I explained to Mr. Ferguson that I required this information for the purpose of reporting to the Court on the Corporation's application for a Moratorium Order in respect of rates.
 
1 promised to let Mr Ferguson have explanatory notes regarding Liabilities Adjustment and Moratorium Debt Settlement procedure, as he indicated that they had a number of cases where arrears were outstanding, chiefly as a result of war-damaged property, but also a few moratorium cases. If any of their mortgagors could not reach agreement he would suggest they applied to the Liabilities Adjustment Officer

Transcribed from document ref: LCO 26/654 at the National Archive by Peter Rimell - Jan 2013