natwest offset

I have a natwest offset mortgage which is currently 2 months in arrears due to unemployment and still waiting to hear about MI 12 help. I have kept them informed as to what is going on and after the first month of being in arrears they said they could switch it to interest only to make the payments cheaper. I said as i wasnt recieving any help yet, I still couldnt afford to make any payment at the moment.
Have just missed the second payment( there is a mis-hap waiting for MI 12 as Natwest wrongly informed them my mort had been redeemed)
I asked if i could switch to interest only as was now told that i couldnt.
The lady on the phone has told me there is quite a strong worded letter on its way to me ( something about solicitors, if i dont pay in 7 days)and if i miss the 3rd months payment, they will pass me to debt collectors.
Im in tears at the moment as i have lived here 18 years this bank holiday and i love my home, im trying to be strong, hubbys in bed so i can have a good cry without upsetting him.
I want to pay,I borrowed the money so i should,I just cant!
I cant believe though that after only missing a few months payment that it has come to this, isnt there some way they could help?

Replies

  • silvercarsilvercar Forumite, Ambassador
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    I thought NatWest had [STRIKE]been told by the government[/STRIKE] signed up to not taking any action until arrears amount to 3 months.

    I know with little money coming in life is difficult but you should (a) be prioritising your mortgage payment, (b) cutting back on expenditure (c) making sure you are claiming everything you are entitled to.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, in my home and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • silvercarsilvercar Forumite, Ambassador
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    I don't know why you have an offset mortgage if you have no savings to offset and if you do have some savings you should use them to pay the mortgage - arrears will not look good on the credit rating.
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, in my home and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • supersunshinesupersunshine Forumite
    143 Posts
    100 Posts
    Forumite
    :-( Just wanted to send you a virtual hug as you must be so stressed. I would go straight to your Citizens Advice Bureau about this and see if they can help in any way. They are a fab organisation with voluntary solicitors who can help you make sense of it all and guide you. Take care
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