Jump to content

 

BankFodder BankFodder


  • Tweets

  • Posts

    • Might be worth talking to local Council Housing again about options, if your Mother is unable to occupy the house for a period due to essential repairs being required.  But find out from landlord first whether they can confirm in writing if alternative housing is available while the house is undergoing works.  The landlord might not have any other properties available or is unable to offer any alternative housing options due to covid-19.    The landlord can increase the rent but there are rules regarding this.  See https://england.shelter.org.uk/housing_advice/private_renting/rent_increases   Guidance about homes being fit for habitation.   https://www.gov.uk/government/publications/homes-fitness-for-human-habitation-act-2018/guide-for-tenants-homes-fitness-for-human-habitation-act-2018   Housing is quite a complex area and you might want to contact Shelter the housing charity, if the local Council Housing cannot assist first.     The work to the house is likely to take months and if  it is started in the next few months, given Covid-19 restrictions (social distancing), your Mother might find herself not able to occupy it over the Winter including the Christmas period.   I suspect many contractors such as electricians have a backlog of work due to the lockdown and when the lockdown is lifted, they will prioritise the work they have already agreed to.  The landlord may therefore struggle to arrange the works, unless they have friends who work for them regularly.     
    • Thank you. You haven't told us the value of the car. Also, who did you actually bite from – meaning which company or trading name did you pay the money to – what name appears on the receipt. Also, how did you pay? This has been going on for over two years and I am rather surprised that you've allowed it to go on so long. You probably will have to issue a claim – that it's probably only worth doing if you know that you can enforce the judgement. Have you checked the trust registry for other judgements against this company? https://www.trustonline.org.uk/ unfortunately it costs money to access the database – but I'll bet you that there are a stack of judgements against the company – and it would be interesting to know how many of them are ever enforced. Have you looked on Google and have you looked on trust pilot to see what is being said there? As far as I can see if, the TMO doesn't have any particular powers which means that if they find in your favour and the trader doesn't comply, then you have to bring a full claim and start again. With the financial ombudsman service, there is a fairly direct route to getting a judgement – although of course there is still always the problem of enforcement. I'm quite sure that a court would pay regard to the decision of the TMO and so I'm sure that your chances of success will be much better than 95% – and as I am sure that you have paid more than £600 for this vehicle, you would be able to transfer up to the High Court for enforcement by High Court Enforcement Officers – take a very rigourous approach to enforcement and whose fees are very high – typically £2000 – but to be paid by the defendant if the HCEO execute a successful enforcement. If they are unsuccessful then the cost to you is only about £66.   Will be very happy to help you with your claim and it would be fairly straightforward – but you will have to consider the risk factors which include your claim fee – a hearing fee (unlikely to happen) cost of transfer up to HCEO and the general hassle of doing it all with probably a fairly real chance of being unable to enforce the judgement. I don't know how much the claim fee will be because you haven't told us the value of the vehicle. In exceptional circumstances you can claim litigant in person costs at £19 per hour (I think). These are generally only available in the face of unreasonable behaviour by the defendant – and this may well be an example where the court would apply its discretion in your favour. So if you decide to bring a legal action then you should start trying to work out how much time you have spent on the whole thing – and make sure it is all moderate unjustifiable and not simply a money grab.
    • as long as these fleecers have your correct address then let them willy wave.   dx  
    • It's been a while since I heard from CRS but despite me requesting that they don't use my email address they still opted to send me an email saying they are preparing a file to send to their solicitors to issue a letter of claim because I haven't contacted them.   I sent off a CCA to the debt owners at the end of April but again I am awaiting a response.   No texts yet. Do I sit and wait and see?    
    • chargeback is 120days (total 540 days) - debit cards this is a section 75 under the CCA - credit card there is no limit other than 6yrs limitation.   dx  
  • Our picks

andymr

Dealing fairly with interest - only mortgage customers who risk being unable to repay their loan

style="text-align:center;"> Please note that this topic has not had any new posts for the last 730 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

There are many people who find themselves in my position

 

. Interest only mortgage coming to the end and there are either insufficient funds or no funds to repay the capital sum.

 

In my case I took out a 10 year Interest Only Mortgage ( Idon't know why it is only 10 years)

 

I have contacted Santander a few times over the last 2 years to see if they would extend the term but they just refer you to customer services to start a whole new loan

 

. I no longer fit any criteria to get a loan

. I have never missed a payment even though I am on a very high rate compared to other lenders or teaser rates

 

. I am now retired with a younger wife and four-year old son

 

. I got until February 2017 to find an answer to my problem.

I have read the FCA guidelines 2013 but its just guidelines and Santander doesn't wish to play ball.

Anybody got any ideas?

Share this post


Link to post
Share on other sites

They must treat you with forbearance are you able to make any realistic proposal to satans?

 

you could also look into possible misale of the mortgage

 

But in the long term your solution may have to be sale


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.

Share this post


Link to post
Share on other sites

I see some Mortgage Lenders are offering to extend their mortgages.

The FCA guidlines says something about treating the customer fairly and coming to a reasonable solution.

I don't see why they just can't extend the mortgage. I've never missed a payment.

Also I no longer fit their criteria to get a whole new loan.

Share this post


Link to post
Share on other sites

Hi Andy,What happened in the end? We have a problem looming soon and wonder if eventually you overcame it? Thanks

Share this post


Link to post
Share on other sites

Hestia,

 

Start your own thread with more information

In particular name of lender, how long left, payment and credit file status (all up to date?)

Ages of borrowers,and percentage of equity you own

 

Some banks are providing solutions


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.

Share this post


Link to post
Share on other sites

I have managed to get a few 10 year interest only buy to let mortgages extended, every time the length increased so did the monthly payment.

 

It seems lenders use it as a opportunity to get more money out of you although my experience is its time consuming an stressful an outcome is not guaranteed ( but more likely to grant extension of length if lender getting increased payment), annoying thing is I do not know why they were all originally 10 year loans I would never agree to such a short length nowadays.

 

I think in those days was much easier to get re-mortgages.

 

I would say typically lenders are keen to see a portion of the loan moved onto repayment, all my loans I was not in a position to remortgage due to bad credit file.

 

So I negotiated with the existing lenders an did get advice from business debtline who were very helpful.

 

Hopefully this may help someone.

Share this post


Link to post
Share on other sites

  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...