Jump to content


mortgage interest payments***Resolved***


Please note that this topic has not had any new posts for the last 1126 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

  • 1 month later...

Rececived letter which states l'm in receipt of mortgage interest payment help,

but warning me about the change in April with SERCO.

 

l've just had a phone call trying to set up the loan agreement.

 

Told them not interested.

 

BUT what the hell is everyone supposed to do?

 

Our stress levels are through the roof.

Link to post
Share on other sites

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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

 

If you want advice on your Topic please PM me a link to your thread

Link to post
Share on other sites

You either take the loan or pay the extra

on your mortgage, no other option

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

How can this be allowed to happen?

 

If you rent, your rent will be paid but you will get NO help to cover your mortgage (interest) payments!

 

Thousands of people who expected to have retired,

but now have to wait an extra 6 years are having to claim JSA or ESA (if they have bad health) will be worried sick about this removal of help!

 

This is a change to far and we the public need to make it STOP!

Link to post
Share on other sites

Had phone call from SERCO on 10th Jan, had letter today, (shows they can get letters out fast if they want to,) stating that l am receiving mortgage help but the DWP say no, anyone else getting the run around?

Link to post
Share on other sites

We could do with some help from you.

PLEASE HELP US TO KEEP THIS SITE RUNNING EVERY POUND DONATED WILL HELP US TO KEEP HELPING OTHERS

 

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

 

If you want advice on your Topic please PM me a link to your thread

Link to post
Share on other sites

Everyone in receipt currently of SMI payments will have or will be receiving a call from Serco to discuss whether they wish to accept the loan or not

 

As previously stated if you don't wish to accept the loan you will have to fully fund your mortgage payments yourselves

 

SMI in its current form will end April 5th

 

If you have told Serco you are not interested at present, whilst you qualify for SMI you have the option to switch to the loan at any time

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

If this is allowed to go ahead, next will be everyone who has help with their rent.

 

I have been warned that the whole system has been speeded up so that If you miss just 3 payments on your mortgage the mortgage company can fast track and take your house within the following month!

 

If this system must go ahead everyone should be given more notice.

 

I would suggest a 12 month period be allowed,

giving people a chance to take a breath and consider their position and get independent advice.

Not being pushed into something they will regret.

 

Has anyone yet received the paper work to set up this loan thats being offered?

Link to post
Share on other sites

hi poppy

 

This has been coming quite a while,i sent the paper work back in december but have still not had a reply,and agree there should be a consultation period

 

I would be concerned with your statement about missing 3 payments is this a fact or just hot air.

Link to post
Share on other sites

'It's your main home and you own a minimum of 20% of the property debt-free (meaning your current loan-to-value of your existing mortgage is 80% or less). You need to be at least three months in arrears and have tried, but been unable, to reach a repayment arrangement with your lender.

Mortgage Arrears Help - Money Saving Expert'

 

I have also read somewhere else about mortgage companies who have high risk customers being able to fast track repossessions. I will try to find it again.

 

I had a BTL mortgage and after missing 2 payments through illness and no tenant, I contacted the company only to be told that if I missed the next payment they could take the house. I missed the next payment through illness and over the following weekend the company repossessed the house, changed the locks and stuck a warning notice on the front door! It took me 9 -12 months to get my house back and cost me over £3,000 in solicitor fees. I don't know if it was different as it was a BTL but the lesson was learnt by me to ALWAYS pay ALL my bills even if I can't afford to eat or heat.

 

I would hate for anyone else to be put in this position and feel that I'm not the only one who think that if you have been paying your mortgage for years on time then the lender will help if you become ill.

 

My concern is that if people don't get more notice, they will be unable to meet the payments due and will not have the time to sort out anything else.

Link to post
Share on other sites

BTL mortgages are entirely different, they are basically unregulated business loans

 

Regulated residential mortgage lenders have to abide by MCOB13

 

If people take the loan from the DWP they will be unaffected financially on a day to day basis

 

The only time they will be affected is if or when they sell their property

 

They will then receive less profit on the 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.

Link to post
Share on other sites

I still think that this 'loan' could mean that the long term sick could end up not being able to sell and downsize as they may not in a few years time have the funds to do so.

 

If they are given more time to consider their options it could be better for them to make to move sooner rather than later.

 

This is all going to happen to quick for many to have any other choice but to take the 'loan'.

 

I can't see how the DWP can bring this in for those in need who have a mortgage and not include those that rent.

 

I do think this will be the next evil step of picking on the disabled and jobless.

 

We would all be better off in prison!

Link to post
Share on other sites

AT LAST!

Someone listened!

Had phone call this morning DWP made a mistake....

will be receiving Mortgage interest payments and backdating it it AND confirming by letter.

 

So if you are both unable to work and both have fit notes you don't have to wait 39 weeks.

 

Please pass this on.

Link to post
Share on other sites
  • 2 weeks later...

we had a call from serco few days ago and the person who phoned us just told us exactly what was in the leaflet that we had received previously.

 

we told them we wanted to see the paperwork and take advise before we said yes to accepting the loan, this morning the paperwork turned up.

 

one thing that the person from serco said, was there may be a charge levied on the property, what they should have said was there will be a charge.

 

one question i asked was, what does the 1.7% rate equates to as in the £ added to the loan, so far no-one knows

Link to post
Share on other sites

The loan will be registered on your deeds at the land registry so in the future when you sell your home the loan will be repaid in full.

 

This may leave you unable to afford another home.

 

If you die It will be paid from your estate.

 

Either way the DWP will get their money back with interest! :-(

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...