DB Mortgages / Payment Holiday?

[Cristal]

Ys, they are disgusting.....but it is a bit tougher for them to take you to Court/evict you now with the new government guidelines. So you must begin your correspondence with DB ASAP. Please post info about your thread here and I wish you GOOD LUCK!!

[budica]

hi,

tell government about this db mortgages 0207 925 0918 is no 10--11 faxes no at downing street--dob them in.these nasty companies need to be fined as not human.you cant be evicted if your paying something-go to an advise centre where you are,your council have a 1 stop shop that deals with problems like this,hope this helps.

budica

[Cristal]

thanks so much for the fax numbers.

 

I've rec'd a reply to my request for a payment holiday. Though they 'normally would not consider it', they are condescending to do so (I cc'd the head of the bank). DB have requested an expenditure report and also my accounts for the last 3 years (am self employed), which, of course, are not that impressive (i have income from other sources that is not invoiced by the co.). I will write to them and explain that and also, if necessary, provide them with evidence of upcoming income in Feb/March. If this is not sufficient for them, i will not hesitate to cc the government, OFT, FOS, etc. The ongoing problem for me is that DB have a SPO over the property.

 

Again, thanks so much for the info...a huge help! Cx

[jansus]

The fact that they are considering it is a great step forward.

 

Fingers crossed for you

[Cristal]

Sorry not to have posted in ages...am now in a Groundhog Day situation. I DID get a payment holiday (tho they never let me forget what a huge favour they were doing me!) but got into a pickle (erratically paid by employer) and had to fight off an eviction by negotiating w/DB - I paid off half of the 'arrears/payment holiday' and resumed payments. Am now late with 1/6th for the July payment and can't make the August payment (due tomorrow).

 

The intimidating calls and letters began two weeks ago, hugely stressful. It's a real threat because there is a Suspended Possession Order over the property.

 

I've asked repeatedly if DB would capitalise the 'arrears/payment holiday' amount (3 months worth) into the mortgage but they simply say it's not 'their policy'. Well, a payment holiday wasn't, either!!

 

My two year term ended in May, bringing my payments down by a third but they're still huge.

 

In anticipation of another eviction notice being served shortly, can anyone give me any advice? Should I ask again if they'll capitalise the 'arrears/payment holiday' and give me a breather so i can either sell the flat of remortgage (tho give my credit rating/self employed income this option is unlikely).

 

I originally remortgaged with this AWFUL company in order to invest in my company. My intention was to go back to a normal 'mortgager' at the end of the first year but, by then, the global financial landscape had changed!

 

Hoping all of you are well and coping!!! CXX

[Cristal]

Hi

 

Just wanted to say Hi and to say that I am in a similar situation again with DB Mortgages, I took a mortgage with them about 2 years ago and the fixed deal is coming to an end and the payments are due to increase by £300, I wrote to them back in March advising I was having financial problems due to loosing my job and needed to sell the house but due to negative equity advised i could not afford so sell and pay the massive early repayment charge on the mortgage which was 13k, they refused and advised I could not sell the house.

 

I then rang them on several occasions through out September and November to speak to them about possible payment issues as the fixed deal was coming to an end and I could not afford the massive jump in monthly payments, they told me they were no longer lending money and therefore would not offer me any new rates and they refused to even talk to me about my payment issues as I was not currently in default.

 

I am now one month in arrears and they have already started to take action against me to repossess despite everything I have tried.

:?

 

 

Hi, just wondering what's happened in the intervening months? am hoping it's good news!! CXX

[Cristal]

Well, things are falling apart. Have rec'd a letter from Eversheds, warning me of an impending eviction notice (there is a SPO on the flat). This must be my 5th one in the last 18 months. DB 'litigators' say they are 'there to help' but really just speak like robots and ignore any attempt at true negotiation.

 

I had a 'payment holiday', then DB added on too much money to my payments once the two year fixed arrangement came to an end. I rec'd an eviction notice in May, managed to pay half the 'mortgage holiday' (which DB now insist on referring to as 'arrears'), paid May, June and July and they refused my offer of £1,000 for August. I wrote to them and asked, for the third time, to capitalise the 'arrears' into the mortgage, as suggested by the Civil Justice Council. This would give me some breathing space and reduce the stress of the constant threat of eviction. Their reply was the letter from Eversheds, threatening eviction.

 

I've written to them a number of times, explaining that I am pursuing money that is owed to me and what I can afford. DB ignore it and demand more. Interestingly, I've just rec'd a letter notifying me of a drop of about £250 in my monthly payments 'following the recent change in the LIBOR rate'.

 

I've written and told DB on countless occasions that the deliver in this area is generally terrible but now there is a postal strike on - chances of any letters from anyone, including the court, not being delivered, are very high.

 

I have a transcript of the original repossession hearing, in which I press the judge whether or not there will be a suspended order over the property once I pay and his responses are decidedly ambiguous.

 

although I managed to escape eviction in the past, I'm not so sure this time. I suspect I'll have to go to court to see f i can fend DB off. Is there any chance the court will agree to my request to capitalise the arrears into the mortgage?

 

The 'arrears' are about 6 months and are substantial (as is the mortgage). Any advice would be greatly appreciated!

 

thanks!!

[jansus]

Hi

 

the first question is is have the arrears risen since the suspended repo?

 

Are they including arrears charges in the sum they are asking for.

 

Can you afford your new MP plus a small amount towards the arrears?

 

you will have achance to go back to court I think so make sure you have all your letters and paperwork together.

 

 

Hope Ell-enn will be along to help soon.

[Ell-enn]

Hi there, the judge won't be able to order that DB capitalise the arrears to the end of the mortgage - he could suggest it, but he cannot order it, as he cannot change the terms and conditions of the mortgage. The judge can only make an order regarding how the arrears are to be paid - if you can prove that you are able to make the monthly payment plus an amount towards the arrears each month then you have a good chance of keeping your home.

 

You will need to gather together all the documentary evidence you can in order to prove their aggressive possession behaviour, and use that in your N244 defence (we can help you with that).

 

Ell

[Cristal]

Hi

 

the first question is is have the arrears risen since the suspended repo?

 

Are they including arrears charges in the sum they are asking for.

 

Can you afford your new MP plus a small amount towards the arrears?

 

you will have achance to go back to court I think so make sure you have all your letters and paperwork together.

 

 

Hope Ell-enn will be along to help soon.

 

Hi J! thanks so much for your response - i would have replied sooner except my server has been down

 

in answer to your questions:

 

I paid off the original arrears that incurred the SPO, but my payments have seesawed since then (hence my growing collection of eviction notices). i cleared half the 'payment holiday' in June and have missed August and September payments.

 

Re arrears fees - Im looking at the most recent statement (21/7-5/9) 'solicitor's instruction fee' (£193) and 'Monthly Arrears Management Fee' (£50) are included. Are these defined as 'arrears fees'? I'll search my files for other statements.

 

Whether I can afford the MP plus extra toward the arrears is a tough question - I'm self employed and my income tends to come in erratically (one of the reasons I'm in this mess) and clients are slow in paying. I know the court will want evidence but I'm not too sure I'll have anything satisfactory for them. I will see what I can come up with in the next week.

 

Again, thanks so much for your help.....CXX

[Cristal]

Hi there, the judge won't be able to order that DB capitalise the arrears to the end of the mortgage - he could suggest it, but he cannot order it, as he cannot change the terms and conditions of the mortgage. The judge can only make an order regarding how the arrears are to be paid - if you can prove that you are able to make the monthly payment plus an amount towards the arrears each month then you have a good chance of keeping your home.

 

You will need to gather together all the documentary evidence you can in order to prove their aggressive possession behaviour, and use that in your N244 defence (we can help you with that).

 

Ell

 

Hi Ell-enn,

 

Thanks so much for your post and apologies for the delay in responding (my serve has been down).

 

Thanks for clarifying the arrears capitalisation issue. My ongoing problem is my income which is erratic, as best. It will be difficult to demonstrate future consistency but I will see what I can do in the next week.

 

DB are very quick to move to repossess/evict (though they can hide under the mantle of the SPO). There is a bit of evidence of that but it's also their lack of trying to help that is somehow more obvious. whether that will help me is another matter!

 

Thanks for offering to assist with the N244. The actual eviction notice has not yet arrived. i will spend the weekend going through my DB files.

 

Again, huge thanks for all your help. I can't tell you how reassuring it is to see your flower logo!!

 

CX

[jansus]

I think a question you have to ask yourself as well is would you actually be better off in rented accomodation. You can only take so much pressure when you are trying to hold down a job as well?

 

If you sold would you be able to find a house to rent which would cost you less? You would also have no worries about maintainance etc?

 

Reference the arrears fees they should not be included in any arears figures they have given you. Arrears are only the difference between MP due and MP paid.

 

There are a few cases on here where charges have been refunded by going to the FOS . But that can wait until you are a bit more settled.

 

One thing at a time.

[Cristal]

Yes, well have been juggling that in my mind. I'm not sure I can find rented accommodation that will be significantly cheaper in my area. Having lived here half my life, I'm also v attached to the place (also work from home).

 

I think I will see the Court thing out - and pray for a reversal of fortune in the meantime! The court outcome will, ultimately, make my decision.

 

CXX

[jansus]

I can understad where you are coming from - I have an interest only mortgage and know eventually I will have to sell the house to repay the mortgage- but in the mean-time there is no way I could rent a house like mine for what i pay on the mortgage. But it does vary from area to area and some people find that a huge pressure is lifted if they do manage to sell the house if they really can not afford to stay there. But I always recommend trying to do that yourself - Do not let the lender get possession if there is anyway you can avoid it.

 

 

Hope your income improves so you can make some sort of proposal.

[Cristal]

Well, another scenario is asking the court for time for me to sell it - as i'm sure the mortgage co would just let if go for under its market value.

 

Another thing i keep meaning to mention is that DB is out of the mortgage business (i.e., not granting any new ones), so I imagine they're keen to get rid of me and my property.

 

Thanks again for your input!

 

CXX

[jansus]

Ell-enn would be the person to ask whether you could keep that in reserve to use at the hearing. If you promised to make what ever payments you could while the property was on the market it may be a possibility.

 

Would you have equity in the property do you think?

[Cristal]

It's hard to tell.....the market here is so unpredictable. The optimistic answer is yes, hopefully enough to get me started again (which is another reason I want to hang on to it!)

 

CX

[Cristal]

Hi there, the judge won't be able to order that DB capitalise the arrears to the end of the mortgage - he could suggest it, but he cannot order it, as he cannot change the terms and conditions of the mortgage. The judge can only make an order regarding how the arrears are to be paid - if you can prove that you are able to make the monthly payment plus an amount towards the arrears each month then you have a good chance of keeping your home.

 

You will need to gather together all the documentary evidence you can in order to prove their aggressive possession behaviour, and use that in your N244 defence (we can help you with that).

 

Ell

 

Hi Ell-enn,

 

I'm in the midst of getting my docs together (my file is like two huge yellow pages, but not so organised!). Got home today to a message from the DB 'Customer Support Team'. In the years of DB torment, I've never, ever been approached by or heard of a DB Customer Support Team I can only imagine that there's only one lonely employee in this department!! Before I return the call tomorrow, do you have any advice? Should I request an arrears statement that does not include extraneous fees (e.g., legal fees or 'account handling fees'). I don't quite know how to 'read' this situation (makes me a little nervous/skeptical) and would appreciate your advice, on what to ask and what to reveal. I have yet to receive the formal eviction notice from the Court, but that could be due to the postal strike.

 

Many thanks!!!!!

 

CXX

[Ell-enn]

Hi there, I don't think you have anything to lose by ringing this Customer Support Team. Over the last 9 months or so I have heard of several lenders setting up specialist teams to work with those in arrears and perhaps DB have now followed suit. GMAC who were previously very aggressive in issuing court proceedings and eviction warrants, now have a team who work at keeping people in their homes by agreeing payment arrangements and stopping monthly arrears fees.

 

However, if during the phone call, you feel pressurised just ask if you can call back as you are getting stressed. You should go into the conversation optimistic and hope that this is a step in the right direction that they may be willing to come to an arrangement. The fact that you haven't received an eviction warrant yet may be an indication that you can work with them to stop that happening.

 

Fingers crossed this is a positive step.

[Cristal]

Ell-enn, I so hope you are psychic!! My arrears (6 months) are huge, as my mortgage is huge. Will let you know the outcome soonest. As ever, I appreciate your support, CXX

[Ell-enn]

If you are nervous about making the phone call, perhaps you could write to the customer support team explaining your circumstances and asking for their help in resolving the situation by allowing you to make reduced payments while the house is on the market. You must, of course, send the letter by recorded delivery and keep a copy for yourself along with the signature receipt from the royalmail website.

 

If you need help with the letter, please let me know.

[Cristal]

Hi Ell-enn,

 

As ever, huge thanks for your advice. I don't have the strength to make a phone call to DB. Apart from recovering from an unexpected op last week, I can no longer face so called 'conversations' with DB. DB operatives are irrational, abusive and unhelpful. They certainly aren't interested in helping. Thank you so much for offering to help with a letter (and reminding me to send it by post that requires a signature). I will attempt to draft one and see what you think. I know time is probably not on my side, but I am feeling so poorly at the moment I don't know when I'll have the strength to do it. Hopefully this week.

 

Again, thank you so much for you support.

 

CX