Mortgage arrears

migwella76

Hi all,

Apologies if this is the wrong board.

I haven't worked as much over the last few weeks as my dad has dementia and I have been looking after him. I am self employed so I am feeling the pinch.

I will be employing someone in the next few weeks once I get my sister to take some time off while I sort things out with the business.

I am already one month behind on my mortgage and will be 2 months come next week.

What would be ideal would be to take a third month and then repay those 3 months arrears over the next 6-7 months, just in time for the mortgage fixed term to run out.

Would the bank be likely to accept this? Has anyone any experience of this? I'm with HSBC.

Would I need to obtain some form of proof like a doctors cert for my Dad?

Thanks
Mig

boredofbeingathome

HI, i am so sorry you are in this position and well done for taking on board all you already have done.

I honestly think that you should talk to your bank ASAP and make arrangements with them. I would hope that they will be amenable to your situation. I have no experience personally of this so i think they would be first port of call than the CAB or some other service. They would be better able to advise you.
Good luck with your dad. It is very distressing to be a carer in such a position.
BOB X

OberonSH

I agree - best to get hold of the bank right away, explain the situation and try to come to an amicable agreement. Don't forget to only offer what you can afford, no point agreeing to whatever they want becasue they agree, and finding you can't pay it.

mummytofour

It might help if you post this on the benefits bored as I know if you were getting carers allowance u would get help after 8 weeks with your mortgage. BUT i dont know if you cna get carers allowance..

delboypass

3 months and they will start repossession order if you have not informed them

My advise would be to get on the blower to sort something out with the bank pronto...

migwella76

Thanks for taking an interest and responding to me.

I will call them asap to talk to them. One of those situation where I have put my head in the sand.

As im self employed I do earn more than £100 a week as a rule so I wouldn't qualify for benefits. It's only the last month and the next two where I will struggle.

My mortgage over 3 months is £1800. If I started to repay that, on top of the original repayments, at £300 a month from November then I would be up to date by the time the fixed rate runs out.

Come November I would expect to have my business up and running again employing someone to do the day to day tasks.