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    • Yes, my initial view is that @unclebulgaria67 is probably right and that because it was a magistrate's warrant, it would be the energy company that would have been in control of the situation directly. Unfortunately this will be much more difficult to deal with then dealing directly with Marston but anyway if you give us your details as requested, we can at least get Outlook from that direction as well. I'm also wondering about the position of your landlord in this. As you have taken up a tenancy in a particular property then I would have thought that one of the terms of the tenancy would be that you should be entitled to quiet enjoyment. Although the landlord may say that it is not their fault and it is down to the previous tenant, at the end of the day you have a contract with the landlord who has certain responsibilities. I think we may consider involving the landlord in this as well. You say that there have been letters addressed to the previous tenant. What have you done with those?
    • Yes please. We have certain direct access to Marston and we may be able to get someone to look at this at a senior level. Please email us as requested with your own contact details and name of previous tenant.   We can't guarantee any particular result but we can promise you that it will be looked at.
    • they say in letter dated 20/01/20 that the agreement was terminated on 30 July 2017 and cannot be terminated twice, so your VT request is invalid. startline issued termination or Default notices on the following dates: letter: 30/03/2017 termination notice  liable for payment: arreaers to date : £365.38 the balance of: £10,586.50 total: £10,951.88 7 days notice else ROG+sums outstanding. ....................... Letter: 11/12/2017 Default Notice nature of breach: instalments of £211.73 due 30th each month. action to remedy: payment of arrears £449.23 by 30-12-17 other info: payments to date: £5226.91 outstanding: £9351.89 less rebate: £2251.41 Amount Due: £7100.48 if you act before 30-12-17 and have paid £7056.90 you can VT. ............ Letter: 27-07-2018 Default Notice refs a dn dated:31/05/2016 - there is no such DN in an SAR return. nature of breach: instalments of £211.73 on 30th each month. action to remedy: payment of arrears £226.73 by 15-08-2018 other info: on or after date 27-07-2018 we shall terminate,withdraw possesion and recoversums due upon termination. total paid: £6250.91 outstanding: £7647.28 less rebate: £1590.47 Amount Due: £6065.81 if you act before 15-08-18 and have paid £7056.90 you can VT. ........................  letter: 01-10-2018 termination notice  liable for payment: arreaers to date : £325.06 the balance of: £6079.75 total: £6404.81 7 days notice else ROG+sums outstanding. ……………………...     NEW ORDER STATEMENTS.pdf Doc1.pdf
    • thank you.   have you had issues paying credit before you took any of these out?   i'e were you keeping a good handle upon your credit file and it wasn't shot with any defaults or payment markers during the period when you applied and were successful in getting any of this additional credit?   my thoughts are ...should the above not be the case and your credit worthiness was good... so couldn't p'haps introduce some irresponsible lending complaints in association to them … it might be an idea to give all your creditors the heads up that times are hard and you wish them to help you, as they are duty bound to do, by freezing interest and any penalty fees to allow you to ride out this present financial hardship till things improve ...   how does that sound...   dx  
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jen123

HELP~mortgage ended shortfall on endowment

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Hi I would be grateful for any advice. my mortgage with santander has come to an end and i have a shortfall of 40000. I work full time have no arrears. I can continue with payments but will they want to repossess for outstandnig balance.

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I believe quite a few people were left with shortfalls due to the poor performance of their endowment policies.

 

If you are in a position to continue with the payments, I think the bank should show a little compassion. I have sent out some S.O.S for you - it might not be until later in the day that someone responds because most of the advisors in this section have day jobs.


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Have you spoken to the bank about this at all ? Would you be able to increase the payments in order to reduce the shortfall quicker.

 

Do you believe you have been the victim of Endowment mis selling ?


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Uploading documents to CAG ** Instructions **

 

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2: Take back control of your finances -

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3: Feel Bullied by Creditors or Debt Collectors?

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4: Staying Calm About Debt

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2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

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5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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thanks for your reply

 

 

'spoken to santander they have given 3 months for me to get advice on what to do.

 

 

Thinking back i believe i been misold as i took an endowment before i had a mortgage on advice from our insurance man, who in those days, came to the house to collect payments on other policies,

that i could start paying a towards a mortgage and at the end have a big lump sum

 

I can increase payments but what would they consider a reasonable time to pay it back

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I can increase payments but what would they consider a reasonable time to pay it back

 

Hello again. I think that might be something you need to ask them.

 

Here's a link to the CAB on endowment shortfalls. Have you received letters from the endowment provider telling you how the policy was doing? I thought they had to let you know if there was a problem.

 

http://www.adviceguide.org.uk/england/housing_e/faq_index_housing/faq_housing_endowment_mortgage_worries.htm

 

You might also want to google the Money Advice Service advice on endowment mortgages and the Financial Ombudsman on endowment mis-selling. They have factsheets that look informative.

 

HB

Edited by honeybee13

Illegitimi non carborundum

 

 

 

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Hello again honey beei. would receive a yearly letter but to be honest didnt really pay much attention to it as i was more concerned with keping up repaymrnts. stupid thing to do but hindsight is a wonderful thing

Edited by jen123

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I can increase payments but what would they consider a reasonable time to pay it back

 

I have had a look round the internet and some banks have been good enough to allow up to 5-7 years to repay shortfalls - but some have wanted their money within 1 - 2 year. I guess each situation is dealt with specifically.

 

What is your age (how long will you be in employment). How much would you be able to increase the payments to ? You have of course just been paying interest. I imagine they would want a reasonable increase. You need to remember that interest will be added to the shortfall as well.

 

Perhaps do a little bit of math yourself.. check what is the maximum you would be able to afford - then divide that into the shortfall figure and see what you come up with.

 

I do think you need to look at whether you were mis sold or not. You might have to send a Subject Access Request to the company that sold the Endowment.

 

They should have sent you an update every year which told you how your Endowment was doing and whether it would cover your mortgage sum.


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Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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you could also look into a remortgage, certain building societies will consider rmortgages up to the age of 87:-)if you can prove sufficient income. Also if old like me you could consider equity release dependant on your circumstances


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The sensible - and very easy thing to do if you are in employment with a reasonable credit score, is to take out another mortgage. Not ideal, but definitely the easiest thing to do and Santander can assist you with this.

 

The alternative is to ask them what the maximum period is that they will allow you to repay the shortfall over (often with Santander it is 2 years - but you do need to check), and then you'll need to work out whether you can afford it, as they will obviously add interest to the 40k too. As a ballpark figure, you're probably looking at around £1800 a month to repay that in 2 years...which is why you can see why the best advice is to take out another mortgage.

 

As regards misselling of your endowment - that is probably a boat long missed as Santander (as other lenders) sent out letters to those with insurance based mortgages asking them to check that their policies would not be leaving shortfalls - and in fact, in the last few years of the mortgage, those letters come more frequently.

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old rouge you made me smile im sure young at heart

 

Thanks to all for advice

 

 

,from the advice in earlier post i phoned santander to ask how long i would have to repay

.and this phonecall was more reassuring than the lady i spoke to the other day,

 

 

she was very fast speaking,

call center attitude

just didnt seem to care and

 

 

i felt like she was fishing for information that they coud use later

trying to get me to do an expenditure over the phone whichi i wouldnt do as i felt it could bite me in the bum later.

 

today i spoke to a nice young chap and he tried to reassure me that they wil try to come to a resolution first before any proceedings.

and told him i wasnt happy doing

i.e over the phone so has put account on hold for 2 weeks

so he can send me the form to fill n at my own time and will go from there9

 

I am 48 and my job is quite secure

pay not fantastic but could afford 660 a month.

 

 

kids are now 21( studying but taking a job to help) and 16.

 

credit score not great

ccj 4 years ago settled

no other debts.

cant remortgage will explain late rjust hoping that santander will give time to pay

 

mortgage was taken with my sister.

2 years into mortgage she married and had a baby

moved away

interest were very high and

they struggled with payment

left went aboard saying it was mine and wanted nothing to do with it.

 

 

20 years later she has paid off her own home abroad

and now is looking for payout from this house

now its no longer in negative equity.

 

 

This has been my family home for over 40 years and i would like to stay here.

 

 

im hoping that if santander allow me more time to pay I hope to come to an agreement with her to let me pay her after the shortfall is paid.

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Hi just wondering if anyone can give me some advice on what to do.

 

 

I applied for a mortgage to pay off the arrears

 

 

I was given £35k subject to my sister coming of the deeds.

 

 

at the start of the process she wanted £50k which we agreed i would pay her after i cleared the arrears,

 

 

i would re mortgage and given other assurance it would be paid.

 

she has now changed her mind and want £160k half the value of the house which i cant afford.

 

 

It has now put me in the position to sell before repossession

 

 

is there anything i can do or do i just have to suck it up

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I would be grateful for any advice.I tried to sell a few years back to resolve the shortfall, at that time the house was of lower value and my sister and her husband wanted £30.000. When i had a buyer at the last minute they increased what they wanted by £20.000, which then with younger children at the time I could not afford,As i had moved out i had to move back into the house which the whole process left me with debts like council tax arrears.

I just feel very frustrated any time i try to resolve the problem they put a stop to it . What she wants to do is to stay on the mortgage for another 10 years and then she said she will make a decision then.

I want to resolve this now as have not been feeling to great( which she knows) and put off going to doctors until I secured mortgage and insurance. I went to the doctors and within two weeks was having a biopsy, I'm waiting on results and while Im writing this the hospital have phoned asked me to come for a scan. My biggest fear and I have said this to her over the years is that if anything happens to me because its a joint mortgage all will go to her my children will lose their home and security.

I just feel its so unfair they lived here for only 2 of the 25years but can now call the shots on how and where i should live

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