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    • I see the poops are still trying to deflect from their own criminality and and abuses by whinging on about raynors buying her council house - now about election registration - anyone who owns a flat or house understands that you dont give up your and your childrens home just because of a new relationship and while we are on about that ..   lets start with When is jenrick being revisited for both lockdown abuses and self admitted (claims estate is his main home - not the property in his electorate or his london property) 'possible (lol) electoral registration abuses as he claimed he was at his estate 'main home' away from both London and his electoral 'home'  - much of which paid for by the taxpayer     Cabinet Minister Robert Jenrick 'breaks lockdown rules twice' by going to 'second home' - Mirror Online WWW.MIRROR.CO.UK Key Cabinet Minister Robert Jenrick drove 150 miles to his 'second home' after urging the nation to remain in their homes in a bid to...   ... perhaps follow with more self admitted lobbying while in a potion where they shouldn't “A few of us in parliament have lobbied the government – and with the help of the Treasury select committee, the chancellor has listened,” John Baron wrote.   Tory MP faces lobbying questions over Treasury committee role | Investing | The Guardian WWW.THEGUARDIAN.COM Co-owner of investment management firm called for ‘urgent’ post-Brexit changes to City rules at committee meetings     About time labour got in the game and started pressing for these self admitted/bragged Tory abuses were properly investigates.
    • No I didn't I got the dates mixed up.   
    • Sorry about that, TJ. The person who posted it specifically said it was free access. Here's another version of the FT article. https://archive.is/KYrPa
    • Isnt there some indication in there of at least intent to inform arbuthnot? IF he wasn't then it would seem to be Vennells decision to keep him 'uninformed .. Although seems to me if arbuthnot was unaware - he was either incompetent or should have very detailed records of denials. Seems vennells is constantly at the core of all the lying about all these issues though.
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Interest Only Mortgage Ending - Can't repay capital - Anyone know what Nationwide will do


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Hi, Does anyone know what Nationwide is likely to do in our situation please?

 

Wife is 16 years older than me so we had a 10 year self cert mortgage taking her to age 65 originally through Derbyshire/Salt and now taken over with Nationwide.

 

About 12 months ago we rang Nationwide after receiving a standard letter re repaying the loan at the end of the mortgage term. The friendly but extremely unhelpful call center guide was only interested in referring us to an independent mortgage advisor when asking about options and whether we could extend the term as they couldn't give advice and there were NO options on Nationwide doing some sort of deal or changing the mortgage.

 

There wasn't much point in talking to a broker as my business went south in 2009 and we have wobbly credit, can't prove income to service the loan now although have no arrears or ever been in arrears.

 

Instead we have been trying to sell the property - £255000 mortgage and 2 local estate agents started us at £395,000 now down to £340,000 and only 3 viewings in a year!

 

I have been trying to understand 'Forebearance' but can't find any examples of any lenders being helpful to customers when they can't afford repayment.

 

All we want to do is to continue actively trying to sell it while paying interest only rather than have it repossessed and forced sold.

 

Does anyone know what is 'likely' to happen - particulalrly where Nationwide are involved? Any thoughts or advice would be really appreciated.

 

Wife was just going to leave today she is getting so upset.

 

We have until Feb for the mortgage term to end although haven't received any notices about the mortgage since last year.

 

Thanks

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Hi, Thanks for the reply.

 

Yes, I appreciate that they can foreclose and we have been dropping the price. We understand that ultimately something is better than nothing/a debt if they sell for less than the mortgage but it still hurts to hemorrhage the only bit of money we have and you always have to negotiate a sale anyway.

 

Does anyone have any experience of what they do in practice? Might they extend the term or allow a period longer to sell on the market? Even if we dropped to €250000 and invited bids it would take longer than we currently have!

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Try talking to an independent mortgage broker - the good ones usually know what the options might be

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My advice is based on my opinion and experience only. It is not to be taken as legal advice - if you are unsure you should seek professional help.

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First have a read of the following

 

Nationwide will most certainly have to allow you a period to sell your property about 2 years would be seen as reasonable

 

Several banks including are introducing new mortgage schemes to help in your situation

 

https://www.fca.org.uk/news/press-releases/fca-publishes-findings-review-interest-only-mortgages-and-reaches-agreement

 

https://www.fca.org.uk/publication/finalised-guidance/fg13-07.pdf

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