hi glad to hear your payments are going down, i phoned them today to make payment and they told me the same as you, I also received a letter today explaining the rate drop that is now 6.69% hooray, i think it will drop further.

i plan to do all that is humanly possible to get redstone to not only lower my rate but also get back the £50 a month arrears fee they have been charging me for too long. as for writing to MP any publicity that shows these rogues in there true colours has to b positive action , we are realy worried about the rates like you say they do as they like and do not appear to come under any restriction on what they can do with your mortgage once they have lured you in at a low rate , i have noticed redstone mortgages is advertising an initial rate at present of 3.99 for all new customers, i pity anyone who is unfortunate enough to have to resort to any sub prime lender to get a mortgage, answer to your question about not being informed yet about rate change, i was sent a letter from redstone in november appologising for not writing to me in september and telling me of the rate change which went up not down, i believe they deliberately held off sending the letter in september because they were waiting for the bank of england rate to come down which it did, like you say they are meant to review the libor rate every 3 months, they held off knowing that in the new year the libor rate will probably drop even more, so instead of reviewing there rate in sept like they could have they will not have to do it untill january and even then they still dont have to lower the rate ????? if i could find a law that forced them to lower there rate or stick to the agreement we signed up for that would be great, but i think the only route is as soon as you get the chance to get away from subprime lenders do it and dont look back, even if like us you have to sell your house pay them off and rent for a bit untill you can get back with the high street lender, good luck and remember we are not alone there is an ever increasing number of people in the same boat as us ,

hi, we were with amber homeloans and as you say all of a sudden we also found that practicly overnight we were shunted on to redstone mortgages, or as i prefer to call them, redstone debt collectors, we fell behind with our mortgage and were instantly threatened with repo, but with the help of some truly great human beings on this site we managed to get suspended repo order, as long as we keep paying we are ok. i say ok but in truth it is getting tougher again now our mortgage just seems to go up and up regardless of what libor rate is.when we took our mortgage out in 2004 it was a discounted rate for 1 year and then rest of term at svr ??? which in 2005 was 5.89 . our rate now is 8.51 mortgage has increased from £649 to £889 but also as we are still paying off arrears at £50 a month they are charging me an extra £50.00 a month so we have to to pay £939 every month, we will do anything to escape the grip of this truly immoral inhuman debt collector . i am going to try fsa for help and i dont think its worth writing to redstone asking them to explain why they are not passing on ratecut even though libor rate is now 3.79 i think, all they want to do is take you for every penny you have and then take your house, we pay buy debit card now because in the past they have taken extra mortgage payments without are consent leaving us with no money. good luck to anyone who can bring this company to book ,

hi everyone, firstly thanks for all your help I won in court Tuesday, feel about 2ft taller. judge agreed with everything i said, despite that the mortgage company tried to get another £50.00 on top of what i was offering, the judge reminded them about the norgan case and ruled in our favour so we got a suspended possession order, as long as we pay monthly mortgage plus £50.00 that i promised. thanks again, mark

hi we are in court tommorow thanks for all your help we will let you know what they decide. MW.

hello thanks for your support, I went to the cab today who were helpfull, they told me to go to the law centre, who helped me to fill in my defence form explaining that i could pay the mortgage and £50.00 off the arrears each month, also we attached proof that our house was for sale , hope this will be enough to swing it my way. I will keep you updated many thanks mw

hi hope someone can advise me, as never been in this situation before on the 12th of March 2008 my mortgage company {redstone) informed me by way of letter that they have started proceedings to possess our house. this came about because i missed two mortgage payments , i am currently in arrears by £2481.53, my monthly payments are £874.49 . i have been in arrears before and i managed to clear them, i had to have an hernia op i was off work for 8 weeks i am self employed. at that time redstone were not sympathetic at all and it just seemed like they wanted to take our house. I am managing to pay the mortgage each month but cannott pay off the arrears at the rate redstone would like, they want me to pay a full payment half way through the month aswell as my normal payment, and because i cannott do this they have sent me another letter stating that i must attend court on the 15th April where upon they will ask the judge for a possession order. i have put my house up for sale and have just reduced the price. is there any hope for us. thanks mw