mortgage arrears

julie_walton

I am unfortunately in arrears with my Capstone mortgage. Whilst I am in arrears they are charging me an extra £50 per month. I cannot afford to pay more than £50 extra each month so my debts are rapidly increasing. I would be grateful for any advice, Thankyou.

Nonshy

Speak to mortgage lender and come to some arrangement, I suspect you must be in 3 months arrears?

or seek professional advice.

Impossible to give any "advice" based on your post as circumstances and numerous other factors are unkowns.

SouthCoast

Advice from CAB on mortgage arrears.

http://www.adviceguide.org.uk/index/life/debt/mortgage_arrears.htm

julie_walton

Nonshy wrote: »

Speak to mortgage lender and come to some arrangement, I suspect you must be in 3 months arrears?

or seek professional advice.

Impossible to give any "advice" based on your post as circumstances and numerous other factors are unkowns.

thanks for your reply. I was about 3 months in arrears. (hubby was in hospital) They said as long as I continued to pay the agreed monthly amount I shouldn't worry about re possession. However just had letter stating my arrears are now well over £3,000 as they have actually been charging me £150 charges a month. I hadn't been told this. As long as I am in arrears they will charge this. There's no way I can get hold of over £3,000 to pay them.

feisty1

have a read here

http://england.shelter.org.uk/get_advice/advice_topics/repossession/mortgage_arrears

midge61

Hi
I am with Crapstone too and have had problems with them since Oct last year because they claim I have arrears from 2 yrs ago. I had to ask for a statement of arrears because they could not tell me exactly where the missing payment came from.

Get a statement from them and make sure you check it closely with your bank statements. I have found several mistakes.

Make sure you have a good paper trail. I have been writing and trying to get this sorted for over 3 months now so have filed a complaint with the FOS.

The FSA state they following as bad practice:

• [FONT=&quot]Prescribed information, such as the FSA information sheet on mortgage arrears, or statements of charges, are not sent to customers. [/FONT]
• [FONT=&quot]Regular statements of charges are not sent to customers whose properties have been taken into possession but have not yet been sold, or who have outstanding sale shortfalls attracting charges. [/FONT]
• [FONT=&quot]Arrears statements are difficult to understand, for example they: [/FONT]
  • [FONT=&quot]include descriptions of fees which are inconsistent with the tariff of charges;[/FONT]
  • [FONT=&quot]have multiple debit and credit entries for one fee when it is being added to the mortgage account; or[/FONT]
  • [FONT=&quot]do not make clear whether the outstanding debt figure on the statement includes the arrears and associated charges. [/FONT]

You could ring the FOS and ask their advice. I am sure I have read that they cannot add their fees to the arrears but should add them to the capital but I am not 100% sure on this.

Good luck

midge61

PS as of this month they are putting up their arrears management fee to £60