Letter from Mortgage Company

nev32

I have received a letter today from Mortgage Company (we haven't paid our Mortgage last month as we want the house to be repossed as it is £30,000 in negative equity and has a secured loan against it, we are going br on the 10th sept as have other debts aswell)
The Letter states that if we do not respond to the letter within 7 days they will have no choice but to instruct a specialist external field counsellor to call at our home. They will discuss the options open to us with regards to your mortgage and any other associated debts you may have. Should a field counsellor call then there will be a charge up to £117.50 for this service which will be added to your account and you will be charged interest on this, the charge will be added to your account following the councellor's first actual or attempted visit to your home.
Can they actually do this?

nev32

any advice would be cool. i know its saturday. doh. im working.

Flowerpot_2

Sorry Nev I would if I could but I can't advise as I don't have any personal experience of this
Personally I would have thought this is just a 'scare tactic', another way of trying to get some money out of you, like the letters you receive from DCA's saying they're coming by the house etc.,etc., but of course I may be wrong - I'm sure someone more expert than moi will be along shortly
FP x
BTW its raining cats & dogs down 'ere so you're not missing anything by being at work - my OH is so bored he's resorted to baking :eek:

fermi

Why should you care?

Any fees will just go into the BR when the property is eventually sold, so if your mortgage company want to throw their money away it's not your problem.;)

debt_doctor

Hi,

Mortgage companies do this all the time and unlike when 'ordinary creditors' say they will call round and its just a bluff, mortgage companies nearly always turn up.

As Fermi says, all the costs of such a visit will go in to your BR, so thats not an issue, but what are vyou doing about re housing ?

If your going in to private rent then it really makes no difference if you see this 'councillor' or not, but if you are trying to gain council accomodation under homeless rules then you must see them and explain that you would like to remain in the home but simply cannot afford to as this report would be requested by the council and could lead to a decision of 'intentionally homeless' by not cooperating with your lender.

DD