OR Interview today!

wayforward_2

At 11 am on the phone!

Am all organised - have got out all statements, letters etc for every creditor for last 2 years in separate piles, got payslips ready, plus a copy of our SOA's. She said she would do me first and then OH afterwards as I am more on the ball about our finances and he doesn't have a clue!

Not so much nervous but just anxiously looking forward to getting it over with so i know what our IPA will be - that's when i really feel like we can move forward.

MicheH

It's a good feeling when it's all over! This hour waiting is the worst it will be, the actual call is fine and you very quickly get into your stride with the conversation - the time flies by!

Roll on about 11.40 eh?!

wayforward_2

All over!

Mine lasted 40 mins and then handed phone over to OH and his lasted about 5!

She was really really nice and friendly. Basically just asked for verification of what original loan amounts were, when i last spent on a card etc. Didn't go into any specifics asking what i had spent money on. Wasn't interested in the lower value credit cards.

Unfortunately re the property we are renting out - turns out we are allowed to collect the rent but not allowed to pay the mortgage. OR has written to the mortgage co asking if they want to appoint a receiver to receive the rent on their behalf.

I have phoned the mortgage co - bit sticky seeing as they didn't know we were renting it out. They said they may increase the interest to a buy to let interest rate - i have written to them stating that if that is the case we will have to let it be repossessed and that it is £35k in negative equity. Asked them to collect the rent on our behalf. If it goes it goes tbh.

She said they aren't interested in the car we own (£1500) and have no interest in the leased car but that the lease co may want to repossess it which we anticipated.

She'll write to us by end of next week re the IPA. We have put the bundle of statements etc in the post to her today.

They'll contact us in about 8 weeks re the BI in the house.

She didn't ask about the motorbike OH sold 2 weeks ago to pay for a retraining course.

All in all - very painless!

MicheH

Phew! Pleased it's over. I've kind of got that attitude now, what will be will be, I'm no longer stressing or worrying about anything. It's a nice feeling to be in after all this time. My interview was 1 hour 20 mins then DH was 5 mins too.. I was red in the face with concentration and he's laughing and joking with her, typical!

wayforward_2

We were discussing our dogs!

Best bit so far has been putting the "borrowing" box file back on the shelf and it's EMPTY!

nervousmother

wayforward wrote: »

All over!

Unfortunately re the property we are renting out - turns out we are allowed to collect the rent but not allowed to pay the mortgage. OR has written to the mortgage co asking if they want to appoint a receiver to receive the rent on their behalf.


All in all - very painless!

She told you your not allowed to pay the mortgage? and what are her reasons for this after all it is a secured loan so is not included in the BR untill it gets sold.
As I have said before we kept our BTL property never missed a mortgage payment and collected the rent. the mortgage was put down as an expense on our SOA and the rent as income. It may be best for you to let it get repo but the info she gave you does not sound correct to me.

Glad it went ok for you though

wayforward_2

Hmmm - she said she was going by the IS guidelines - maybe i will check. I realise it would be financially beneficial if we let it be repo'd but we have other reasons for trying to hold onto it so if we can i would rather!