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LibertyNow1`

'Together' Problems with Mortgage always behind big added interest and costs

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They used to be Blemain, now are 'Together'.

 

I am always behind with my mortgage. I am on a very low self employed income and it is erratic. So always end up having to pay three or four months arrears when they threaten me with an eviction. They have an court order due to persistent late payments.

 

My circumstances have changed since I lived at the house...my gf who is also on the Deeds split up. She pays the mortgage, I pay the second mortgage with Together which is about £500 a month. I can never do one of those things with income and outgoings because is so erratic and I dont even live there. But I pay it every few months when I can so she doesn't lose her home, and at some point maybe we can sell it.

 

But, because of all the charges and extra interest etc the amount I owe after paying it for about 10 years is about £10k more than I borrowed! Yet am Paying £6k a year! Total amount is about £60k and its a high interest rate because that is all I could get at the time. So virtually everything I earn bar about £100 a week pays that. And as I only get money erratically and then £2-3k every three months or so on average, I can never get in front just keep paying off the arrears and my living and some debts.

 

So I am very depressed about it and cant see a way forward, except that one day we may be able to sell it. But there is no equity in it atm, and I am losing £6k a year really while the market is stagnant and yet actually reducing nothing its gone up over £10k.

 

Problems started when the banks called my business o/d and loan in as then I had no way of budgeting to cope with the erratic income.

 

I am effectively homeless, and cant even get tax credits because of my circumstances, and living between a few sets of friends and a new girlfriend. She has a tiny flat so I cant store anything there, and cant stay at all when her son is there...no room to swing a cat. All my stuff is with friends in my 'rooms' there, and I have nowhere to sit and do my books which are a few years behind and no doubt I am being chased for that too on money I haven't earned but fines for late books. I am in a total mess and cant see what to do.

 

What can I do? Are these charges even legal? I am told they are not? I want to sort this out first as it will be one thing off my mind if I can stop them doing that. Then I have to face the HMRC and explain why I haven't done my books for several years afterwards.

Edited by LibertyNow1`

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