In August 2005 I took out an HSBC Mortgage. In September 2005, I went back to university to study for a full-time MBA.
To help with cash flow, HSBC kindly offered a 6-month payment holiday.
I took the payment holiday option in December 2005 with the mortgage payment holiday ending end of May 2005.
In June 2006 I received a call saying my mortgage account was 6-months overdue. I explained the Mortgage Holiday and was sternly told, “HSBC doesn’t do Mortgage Payment holidays – and all money must be immediately repaid.”
I arranged a payment plan to pay off the £4,400 ‘holiday arrears’ over the next 24 payments. It was about £180 per month.
But because of the HSBC Mortgage Holiday, my credit score has been destroyed. My Equifax credit report lists me a “Poor” and shows 6-months mortgage arrears from the period June 2006.
Is there any publicly available evidence showing HSBC have given out bad advice with Mortgage payment Holidays?
I need to get this removed from my credit file and will call the HSBC Mortgage arrears team – on Monday (08456 029 512).
Before I call, I need your help to provide previous examples of HSBC giving out bad 'Mortgage Payment Holiday' advice...
Any sources or ideas?