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    • Much appreciated for the ammendment. The snottier the better right!   What I am assuming is that this response is to be posted to Gladstones? However, I am seeing some users sending this as an email instead, which is a little confusing.  If we're happy with this response, what would you suggest is the best way to send it over to them (post/email), and is there anything additional I could include (if necessary)?  Thanks again! 
    • Hi I've read through other threads to better inform me of the process from here onwards. When I put in the MoneyClaim it gave me a claim number and it currently says to wait for the defendant to respond, they have until 7 August.   It seems their most likely action is to extend that a further 14 days to about 21 August - this hasn't happened yet, of course, as it is only 27 July but I'm anticipating that may be the case. when the expected defence action is taken by EVRi I will need to submit DQ with these responses A1 - no mediation B - my contact details C1 - yes to the small claims track D1 - No.  If No please state why.  I believe the defence will provide some rebuttal to the particulars of claim and so I need to include details as to why the claim requires a hearing.  Is there some certain templated text I can include here or will it vary depending on what the defendant comes back with? I see on the form it mentions the following: Relevant reasons include that there are factual disputes which will need the judge to hear from witnesses directly or the issues are so complex they need to be argued orally.  Hoping to reach out to see what may be the most effective statements for D1 reasoning. E1-5 are pretty straightforward. I want to get ahead of things and be ready to take the next step so I appreciate what advice you may have about the DQ.   Thanks!  
    • Rachel Reeves is set to reveal a public finances shortfall of billions on pounds after a snap audit.View the full article
    • Hi What they have asked in what you have highlighted isn't unusual at all as Councils have numerous different departments that deal with specific different areas within that council. So if what you are asking in your DSAR is say specific to Housing Benefit, Council Tax Benefit, Planning Permission etc then just let them know that specific area. On the other hand if you want every bit of DATA they hold on you then simply tell then ALL DATA they hold on you it's them up to then to go through all depts to check for it. 
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    • We have finally managed to obtain the transcript of this case.

      The judge's reasoning is very useful and will certainly be helpful in any other cases relating to third-party rights where the customer has contracted with the courier company by using a broker.
      This is generally speaking the problem with using PackLink who are domiciled in Spain and very conveniently out of reach of the British justice system.

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      It would be very nice if the parcel delivery companies – including EVRi – practised this kind of thing as well.

       

      OT APPROVED, 365MC637, FAROOQ, EVRi, 12.07.23 (BRENT) - J v4.pdf
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Interest only mortgage expiring - I need more time to sell


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Hello All,

 

I am looking to find out my legal situation, and my options. I am over 65, with little income and (I'm guessing) a poor credit rating.

 

I have an interest only mortgage which is due to mature in a few months, I cannot afford the lump sum payment, so I am in the process of getting the property ready for sale. The property is worth more than 6x the mortgage amount. I have asked the mortgage company for a small extension to allow time to sell, but they are not being very helpful.

 

I have a few questions:

 

  • Do they have to be reasonable, such as allowing an extension of 6-12 months to allow time to sell? are there any guidelines or anything related to this I can use to get the mortgage company to give me time to sell? (say 6-12 months).

 

  • Do I have any other options here to buy myself enough time to finish work on the property and market it for a fair price?.

 

  • I am concerned the mortgage company may try and repossess the property and sell it cheaply, are there any emergency options for loans or re-mortgages that I could get with a poor credit rating, low income and being 65+? (but considering that there is plenty of equity in the property to secure any loan).

 

I know I should of planned ahead, and I understand a lot depends on varying factors, but I'm looking to get a general overview as to my likely options, if I have any.

 

Thanks

 

hereigo

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The pdf attached is a fine applied to another mortgage company for MCOB breaches.

 

One of those breaches was selling mortgages which continued after retirement age without checking if it could be afforded once in retirement.

 

page 3 section 2.3 (possibly 2.2 [1] also)

 

When was it taken out ?

 

Also have you considered one of these equity release things. they lend you money and then rather than paying a mortgage they own a percentage of your home which is then reclaimed when its sold after you pass on. if you want to stay in your home it may be an option worth considering

Edited by rdm2006
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The pdf attached is a fine applied to another mortgage company for MCOB breaches.

 

One of those breaches was selling mortgages which continued after retirement age without checking if it could be afforded once in retirement.

 

page 3 section 2.3 (possibly 2.2 [1] also)

 

When was it taken out ?

 

Hi,

Thanks for reply. That's an interesting case and I hope it will give me some leverage.

The mortgage was taken out 5 years ago because the previous mortgage had expired and I wanted to extend.

Does anyone one have any ideas about a letter I could send to the underwriters which might reverse their intransigence, based perhaps on elements in the case linked to above, relating to selling an interest only mortgage into retirement age without establishing vehicle for repayment? I really would prefer to sell but don't want the Bank to try repossession before I find a buyer.

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If they did take you to court the judge could end up ordering them to give you time to sell. Also as I said earlier about these equity release loans could give you time to do the work you want to do and allow you time to sell at a decent price or just stay where you are.

 

You could borrow enough to pay off the current lender and more to do the work as you have plenty of equity. Also you will still have equity in the property to leave to relatives.

 

The best thing to do would probably see the Citizens Advice and they can tell you about all alternatives and what pressure they could apply to the current lender to encourage them to be more co-operative

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