Arrears payment in full

[Conniff]

Not a nice picture. This is from 2010, it seems as if they are after quick settlements because they want the cash and not long dragged out mortgages.

I wouldn't think that you would have any problems retaining your house should this go to court.

 

"Many, like Rooftop, Southern Pacific Mortgages Limited (SPML) and Preferred, were first owned by American investment banks that failed.

 

The current ownership of many such lenders is unclear, even though tens of thousands of ordinary borrowers remain on their books. The Financial Services Authority says it has no list of such lenders or their parent companies and no knowledge of what mortgage rates they charge.

 

In many cases the lenders are thought to be foreign, unregulated businesses that can charge high mortgage rates and become aggressive if borrowers default.

 

Evidence from Citizens Advice, Shelter and other charities suggests these lenders are especially harsh over arrears. The law simply requires that the mortgages be run by a UK firm authorised by the FSA. But these have no control over lenders' rates or arrears policy. "

 

 

Read more: http://www.thisismoney.co.uk/money/article-1240055/Fresh-mortgage-agony-borrowers-threat-repossession.html#ixzz1TQhTkg91

[LSD]

Hi

 

Our mortgage company are taking us to court on 2 August for possession of the house unless arrears are paid in full. My mother has given me the money to pay the arrears in full, I have informed the Mortgage company of this but they say they will not accept payment from us unless I prove where the money has come from and where my mother's money has come from and she provides them with bank statements.

 

They say they will still be taking us to court, are they really able to do this? All we want to do is pay off the arrears!

Please can anyone help?

I am having a similar problem. Engage Credit won't accept a debit card payment, or bank transfer, on the basis that their policy states' no third party payments accepted' . My mother is willing to pay arrears account of £2000 before their offices close at 8, to cease the house repossession for tomorrow morning. I paid 1500 last friday and I have arranged a court hearing for tomorrow, and mother will arrange payment into my bank first thing so that I can then pay Engage. Cutting it close I know but I miscalculated and theres a lot more to story.

 

I'm hoping will be able to clear arrears by 10 am on the 31st, but how do you think court will view this? Seems all this could've been resolved if they would accept. Any advice sincerely grateful.

[Ell-enn]

Can you print off a copy of your bank account balance before you go to court? What time is your hearing?

[LSD]

Can you print off a copy of your bank account balance before you go to court? What time is your hearing?

 

Hi, not sure I'll have time to print it off, have to be at court 10.45, mother can't pay into my account until bank opens. Although thinking about it I could probably go to a nearby Internet cafe - why would tis be useful, as once money in my account I will be calling Engage with debit card, and they have stresssssed the money will then be then 'locked into the account and guaranteed as they'll have an authorisation number ... Only way to ensure money shows on your (mortgage) account' such rollocks but feel I am at their beck and call at this stage. Thinking about it more, I will have to print off bank statement, they ask a series of 5 'security' questions, if you don't have all your paperwork to hand some are impossible to answer. I kinda feel they using some underhand methods to stall, delay or frustrate!

[LSD]

They also claim if my mother was to pay directly into my account with them, it wouldn't be accepted and returned?!?! Can this be right?

[Ell-enn]

You need to let the judge know all this - what did you put in Q10 of your N244? you did keep a copy didn't you?

[Conniff]

Whatever happens, if the court hearing is going ahead, make certain you attend in person, it really is important.

[LSD]

In my n244 just stated Engage would not accept payment to clear arears on account from my mother. I asked Engage if they could send me a copy of their policy as I haven't been able to locate it on paper or on their website. They "do not communicate with their customers by email" ( had to send house particulars that it is on market via fax) . They claim policy will be brought to court, in my frustration I accused them of knocking one up! In addition, if I were to try and arrange for my mother to use their online payment system it takes you to an enquiry form. They had also insisted I only pay by debit card, but when I pointed out the option of bank transfer was also provided on their letter, the reply "oh, ok then, but debit card " etcetc. Without sounding like I'm whining to judge how do I present these endless barriers they've put up? Cor banks only ask 3 security questions for goodness sake! Really appreciating your responses, it's prompting me to remember the difficulties!!

[Ell-enn]

You need to take a written statement with you to hand to the judge in the hearing - if you need help with writing one, please let me know and I'll draft one for you.

[LSD]

That would be great! My head is a bit all over the place as I've got myself in a state of panic, pacing, not sure I" ll be able to sleep and feel awful I've had to put the pressure on my mother. Didn't say I had offered them £1000 this coming Friday, this morning their calculation was arrears of£1100, so I thought this would be acceptable. I have made 8 calls to them, 4 of these weren't answered before 9 ( they state openings ours 8.30) the other 4 they'd referred my proposal to the manager and would get back to me. This afternoon the figure jumped to £2150.60 as they 'recalculated' and I'm not really clear how they reached this figure, possibly charges? At 3.00pm my mother offered, I called them, referred again to manager to ask if 'on this one off occasion they would consider 3rd party payment, run to court for an emergency hearing, still no call from them. I had to call them again. Only to be told no, not willing to accept my proposal, 3rd party payment and arrears in full please.

[Ell-enn]

Ok, do you have a printer at home?

[LSD]

Its out of action but find an Internet cafe to print

[Ell-enn]

OK, just need a little background before I can complete the statement - stay with me on this thread as I will be asking for information:

 

1. Is the mortgage only in your name?

2. Are there any children living in the property?

3. What was the reason for the arrears?

4. Did you attend the original hearing for possession? I assume there is a suspended possession order, what were the terms of the order?

[LSD]

1 my name only

2 I let it for one year, just managed to get them out, house in a state, they are aware let out n tenants gone. Explained house on market. I am single with a 5 year old, sole support.

3 inconsistent payments from tenants. Tenants stated they would settle up on leaving, they did a runner on 3 months rent. Have offered, but not formally agreed by Engage to pay weekly to spread cost of monthly mortgage, I am paid weekly.

4 yes, suspended, mortgage + £100. My mortgage seems to go up and down, it is now £687 on a £157000 interest only mortgage, I can afford £160 weekly

 

Thank you so much for your help

[LSD]

Sorry for delay, little un off colour and still trying to settle him

[Ell-enn]

Affixed is the statement for court - you need to fill in the information at the top of the statement where there are XXX's the info you need will be on the eviction warrant. You also need to put the transaction number you will get from the lender in the morning when you make payment.

 

Print out 3 copies of the statement and sign.

 

When you get to the court ask if there are any free legals on duty - lots of courts have them on repo hearing days and they can accompany you into the hearing and support your case.

 

When you get into the hearing, wait until the judge has finished opening and then say "Sir(or Madam), please may I give you further information" and then hand over the statement, then hand one to the representative for the lender.

LSD Statement for court.doc

[LSD]

Thank you so very much, Ell-enn. I would've rambled on and on. I will get back to you once I get a judgement. Once gain, thank you.

[Ell-enn]

You're welcome - don't forget to come back and let us know the good news

[LSD]

Hiya, all sorted! So pleased . Arrears paid off in full ( thanks to great Mum) and although Engage didn't cancell order suggesting still go to court etc, their solicitor was fine. Judge thanked me for the statement, explained there are a number of problems with 3rd party payments ( contractual engagement? And probs with money laundering ) possession cancelled, suspended order. In and out in 5 mins.

 

Thank you for your assistance and time Ell-enn x

 

Don't accept the mortgages companies inflexibilities, make an application to the court.

[Ell-enn]

Great result - well done:)