Can't pay mortgate this month -natwest

dadooronronrondadooronron

Hello

I have previously posted about my desire to sort out debts etc and have just about managed to negotiate reduced payments with credit cards (although still struggling with MBNA!!)

I had a problem with car last week and the bill was huge. I had to pay it as the garage had my car and I need it for work. I checked bank balance after paying this and had just enough to cover mortgage payment - had drawn cash out for food/petrol etc for month. I normally look at advance notice on statements of interest charges from bank but just missed doing that - so what happened next!

Natwest current account took out bank charges totalling - £112 (large overdraft - gradually reducing - fee made up of interest and charge for items last month). So when my mortgage company came to take payment out yesterday that was rejected as account was £100 short (mortgage is £480). I rang mortgage company this morning for general advice and they say they will attempt to take out again next Monday - I don't have £100 to put in by then?

I am really asking what action should I take? Should I now write to mortgage company and explain situation and explain I will be able to pay on 20th of month as my partner will get paid then (this will mean mortgage payment will be 17 days late -will that count as arrears??) I have ensured so far that all my mortgage payments have been paid on date set so don't want to damage relationship with mortgage lender.

Any advice really welcome? Also is it worth contacting Natwest and asking if they would refund the unpaid item fee for the mortgage - also concerned going to get another unpaid item fee next Monday when mortgage company try to take payment again?? HELP PLEASE . Ron

SouthCoast

I am struggling to pay my mortgage:

http://mortgagehelp.direct.gov.uk/i-am-struggling-to-pay-my-mortgage/diagnostic-tool.aspx

Jez-_2

Can you not ask your employer for an advance of a couple of hundred to tide you over this month?

dadooronronrondadooronron

Thanks for your point. I work for a smallish company and I can't really do that. I appreciate it can be done with some businesses but it is so small that everybody would find out. I really like to keep my personal finances private from work. Any other suggestions as to how to approach mortgage company? any experience of them accepting a payment couple of weeks late?

benjo

No personal experience of this, but yes they will 'accept' your payment a couple of week late - but all behaviours have a consequence and late payments will have a consequence. Just what that that consequence might be depends on several factors...and only the lender can tell you what the consequences of making a late payment will be.

Wutang_2

benjo wrote: »

No personal experience of this, but yes they will 'accept' your payment a couple of week late - but all behaviours have a consequence and late payments will have a consequence. Just what that that consequence might be depends on several factors...and only the lender can tell you what the consequences of making a late payment will be.

You what??

TheAnalyst

Wutang wrote: »

You what??

It's pretty clear to me? :rolleyes:

Euphoria1z

can you take mortgage payment break (holiday break or something?) where you dont pay for a month or 2 but it gets added to your overall outstanding amount? this could give you time to get back on track perhaps? i would speak to natwest and hope they sympathise with your situation and refund most of your charges. if you have a good history and if this is the first time they can refund the charges if they want to. me and my wife both have had charges refunded (tho it was £30).
borrow £100 to cover shortfall and then do overtime to pay it back? if you have weekends free then get a weekend job.

getmore4less

Short term you have two option either find the money or plead with the mortgage company.

With all the other debts allready on a DMP not sure an extra late payment mark will matter that much.

Longer term you need to review you budget and your DMP.

You need a bigger buffer in you plans so you can cope with the important expences when they come up.

benjo

Wutang wrote: »

You what??

What what?

The lender is not going to say 'your payment is due on the 1st of the month, if you try to pay it 10 days late we wont accept/take the money'

They might say 'your payment is due on the 1st of the month, if you try to pay it 10 days late we will accept your payment, then charge you £xxx for the privilage of being late or (insert 'any other options available to them under the t & c of the mortgage lending contract you signed with us' here)'.

So, yes they will 'accept/take your money' and there will also be consequences because the payment was late (insert 'any other options available to them under the t & c of the mortgage lending contract you signed with them' here + £xxx in charges).

Wutang - I wasnt suggesting that late payments are 'acceptable' but late payments will be accepted ... at a cost. Hope that is clearer - sorry if it wasnt clear in the first place.

AnAlternativeView

Pay by cheque the £ you currently have and then follow with the other £ when you have it available. However - tell NatWest and contact them. If you don't, you'll end up incurring fees for various letters - the last thing you need.