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Order Of Posession Mortgage Arrears

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My mother has recently had a hard time financially, but today I came across a letter from this week from the bank where she has a mortgage, stating it has started proceedings for its solicitors to create a court hearing to repossess her house.

 

On the letter it shows what she has been paying, the expected payment is £103 each month, but she has been paying £20 one month, £70 etc the next, not a regular payment plan at all.

 

The arrears are currently £1200 odd. I will be paying £100 tomorrow and have said I can pay £160 each month for her.

 

She will also pay £100 off on Monday, which I will make sure of, and then make payments of what she can.

 

Will this be acceptable to her mortgage lender? Does anyone have any advice? As the expected payment is £103, and I am willing to pay £160, +£200 this week should start to bring it down.

 

What are the chances the bank outright rejects this? Will her house be repossessed or should this plan be acceptable?

 

I am working tomorrow, but my brother will be going with her tomorrow to speak to the bank along with a budgeting plan outlining what will be paid each month and when, created by myself, but is basically similar to what I have typed here.

 

I live with her, and until recently was unemployed, but will be giving her pay slips to show the bank there is a regular income and this £160 will absolutely be met on time + my mum will be making regular payments twice a month towards reducing it.

 

Thoughts?

 

Thanks very much,

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I'm not an expert by any means but I don't see that there should be much of a problem with what you are offering. The bank may tell you it is not acceptable but if you went to court I think your offer would be accepted. If you are paying £57 per month extra then the arrears will be gone in a couple of years and if there is still at least that time outstanding on the morgage you can pay it off over that time. £1200 is nothing really and if you can prove you can keep to the payment plan there should br no bother.

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i would think it would be more than exceptable

 

under MCOBS banks are required to assist in every way possible.

 

you appear to be with a high street lender and not some ind co. like kensington

 

there is nothing to stop you getting your mother to give them the authority to allow you to deal on her behalf either.

 

that might take the strain away from your mother

 

most big high street lenders are ok as long as they know 'what' is going on.

 

its when people do not liase with them even IF in trouble when things get tight and bury their heads

 

thats quite ok on most debts but not a mortgage.

 

can i assume this is what has happened here & the threat of repro [which is i expect all it is, id designed to make people contact them in

some way shape or form] has just been reached though a head bury session?

 

dx


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i would think it would be more than exceptable

 

under MCOBS banks are required to assist in every way possible.

 

you appear to be with a high street lender and not some ind co. like kensington

 

there is nothing to stop you getting your mother to give them the authority to allow you to deal on her behalf either.

 

that might take the strain away from your mother

 

most big high street lenders are ok as long as they know 'what' is going on.

 

its when people do not liase with them even IF in trouble when things get tight and bury their heads

 

thats quite ok on most debts but not a mortgage.

 

can i assume this is what has happened here & the threat of repro [which is i expect all it is, id designed to make people contact them in

some way shape or form] has just been reached though a head bury session?

 

dx

 

You are right there. My mother buried her head in the sand. I was more angry she had not told me straight away as I work and can deal with it. Probably too afraid or embarrassed.

 

My mother went in today and paid £100 off, and I'm paying £40 every Friday so that covers the £103+ money towards the arrears of £57, she is then paying £100 every 1st week and third of each month. The guy said there should not be a problem with what we are offering but to come in next Wednesday and speak to their specialist mortgage advisor and he would be able to sort it out with their litigation team, so I'm happy with that.

 

Thanks for your help. It is greatly appreciated.

 

My mother was with the old Alliance & Leicester now Santander.

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