Jump to content


Advice please mortgage repossession


jbfb
 Share

style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2566 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Due to ill health I fell into arrears on my mortgage I attended a county court hearing at my local court hearing. I was informed by Santander’s solicitor not to worry that this would be a legal hearing to arrange a payment plan for the arrears however once I was in the court the attending solicitor tried to get a 28 day repossession on my house. I was represented by my local council’s legal department it was duly noted at the hearing that in August 2010 I would go on base rate when my fixed rate term comes to an end. The agreement of the hearing was that we had to pay £65 in arrears each month on top of my monthly mortgage payment and the repossession was suspended.

 

The court hearing was in March 2010 which left 4 months of fixed rate mortgage payments at 5.8%. In August 2010 I received a letter detailing my new payment schedule however the letter stated my mortgage had only decreased by £40 per month. I rang Santander to query the new mortgage amount they informed me that my monthly payments were on standard rate which was 5.25% and not base rate which was 0.5%.

 

Whilst on sick leave I was made redundant at work this left me with major financial constraint. The DWP now pay 30% of my mortgage interest but this still leaves me with a massive shortfall in my monthly payment. I carried on paying the mortgage (which was set at a rate of 5.2%) up until recently, I have fallen into arrears with my monthly payment again I have been told that they are now filling for a possession order and am now awaiting a 28 day eviction notice.

 

What I would like to know is at the original hearing it was duly noted that my mortgage would change to base rate, if I was on base rate for the previous 4 years i would not be in the position of losing my home. Where do I now legally stand? I have been told that base rate should have been applied. I would appreciate any feedback thank you.

Edited by jbfb
Link to post
Share on other sites

I will leave a message for site team to look in on you - it will likely not be until tomorrow now.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

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

Link to post
Share on other sites

it sounds like you are on a standard variable mortgage rate

 

you will need to check your t&cs of your original mortgage agreement

 

no provider would offer a mortgage at base rate

 

it would be base rate plus a rate as outlined in your t &cs

 

just as an example base rate plus 2%

PLEASE HELP US TO KEEP THIS SITE RUNNING

EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

 

 

 

Any help I am able to give is from my own experience only. Should you have any doubt you should contact a qualified professional.

Link to post
Share on other sites

 Share

  • Recently Browsing   0 Caggers

    • No registered users viewing this page.

  • Have we helped you ...?


×
×
  • Create New...