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Future mortgages/Engage problems


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hello all,

I took out a mortgage in February 2008 with Future Mortgages. it was unfortunately an interest-only mortgage.

 

The repayments were a huge £1500 per month.

 

I lost my job after a year and my financial life and circumstances spiral led out of control.

 

Ultimately I ran up arrears of £15, 000 on my mortgage.

 

Eventually like all of you guys that have posted on the topic, my account was transferred to Engage.

 

I have been to court three times with Engage for repossession and was thankfully able to keep the house each time.

 

I still owe £10. 000 on the arrears but i am making regular payments again.

 

I really don't know where to start in terms of the thought process regarding Engage/My mortgage

 

I have run up an additional £5000 in fees with Engage (shows separately on my monthly statements

 

Can anybody advise me where I stand with this,

any advice will be really appreciated,

should i get rid of the house altogether?

 

I have a very good job (now) but somewhere along this journey since 2008 I lost all financial discipline and hope

 

Only now I am I really willing to grasp and deal with my overall debt problems and particularly mortgage issues

 

Are my arrears of £10, 000 unheard of

- am I still in a position to apply to the courts for an arrangement that works for me moving forward.

 

Rather than me applying to the courts as a reaction to Engage threatening to repossess

is it possible to get in their first to seek a repayment plan that suits me and is affordable

 

Also what roughly should I expect my interest rate to be almost 6 years on from initially taking out the mortgage

 

Any assistance will be very much appreciated

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not sure on the wider issue

 

but

 

you need to get ALL the statement via an SAR

 

al those arrears/debt management & any other set FFES

 

can be reclaimed at your mortgage rate.

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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HDXn

 

Not entirely sure what you mean by SAR and FFESS, not following you, can you be more clear, thanks again for taking an interest

 

Hello there. I think dx night mean fees, hopefully he will confirm. If you click on SAR in his post, it takes you to another screen with more info.

 

My best, HB

Illegitimi non carborundum

 

 

 

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you need to get all the statements via an SAR

 

then reclaim all the PENALTY fees

 

they are unlawful

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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  • 4 weeks later...

I've had the letter about my mortgage being sold to Engage. I'm not sure how this is going to pan out for us. We've never been in arrears or not met our payments with Future and the monthly repayments have always been (from what I've seen) pretty competitive, but I am somewhat cautious about this new move. I'll try to keep people on here informed if we are suddenly penalised in any way.

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