Can't pay mortgate this month -natwest

azthe

Try asking for a temporary increase in your overdraft to tide you over until your income increases again. If not try transferring your current account to one that will offer you a larger overdraft facility.

newrecruit

Hi
17 days will not count as arrears straight away. You say that the mortgage company will attempt at withdrawing the repayment on Monday? What will happen then will be this...Natwest will refuse the payment and charge you another bank charge (how much depends on the type of the bank account and arrangements you have). It is most likely that Natwest will also cancel the direct debit to your mortgage company. High Street banks has the tendencies to do this.
The best thing to do, I feel, is this. Firstly, use your debit card and pay 380 pounds (or what ever you have) to the mortgage company ASAP. and tell them that you will pay the balance as soon as you have the money (after 17th?)
Mortgage company should accept this because some money is better than no money and it will prevent them from wasting their admin cost in chasing you with the payment.
With only 17 days in arrears, they do not have the basis to take you to the court, and the fact that you have made some payment and not refused to pay means that they do not have any basis to class the missed payment as default. They can still enter a record in your credit file as late payment if you go 1 month or more into arrears. So repay the balance (100 pounds) as soon as you can.
It is worth asking the mortgage company to change the repayment date...possibly to 18th or 19th (give 1 - 2 days breathing space in case the money you recieve on 17th comes in late because of bank holidays etc.)
The mortgage company may charge you for this, but may be worth it to avoid the hassle in the future
Goodluck

newrecruit

Sorry...a mistake...change the repayment date to 23rd or 25th.
Your partner is willing to help, yes?
I am assuming that you have missed the payment only this time? If so there is no need to make a drastic arrangement as increasing the repayment amount or go on DMP unless it is going to be a long term issue.

dadooronronrondadooronron

Thanks for all ideas/suggestions.

I have taken the following action. Posted a letter to mortgage lender explaining situation.

Cancelled direct debit with natwest so that i cant be charged again for unpaid item fee


I have included notification of this in letter to mortgage lender and explained my reasoning behind it. I have asked them for fresh direct debit form to reinstate from end of this month.

Having read further suggestions I have this morning posted by special delivery (bit expensive - but perhaps worth it!!) - a cheque to show goodwill and an accompanying letter to tell them balance will follow as agreed.

I feel better already. I have done all I can do and hopefully they will see that.

Thanks for all comments. Just to get others opinions sometimes helps me to see clearly. thanks again. This website is fantastic. Dadoo Ron Ron Ron Da doo Ron Ron

AnAlternativeView

Let me know if you get any problems / fees from doing what you have.

Good luck

newrecruit

dadooronronrondadooronron wrote: »

Thanks for all ideas/suggestions.

I have taken the following action. Posted a letter to mortgage lender explaining situation.

Cancelled direct debit with natwest so that i cant be charged again for unpaid item fee


I have included notification of this in letter to mortgage lender and explained my reasoning behind it. I have asked them for fresh direct debit form to reinstate from end of this month.

Having read further suggestions I have this morning posted by special delivery (bit expensive - but perhaps worth it!!) - a cheque to show goodwill and an accompanying letter to tell them balance will follow as agreed.

I feel better already. I have done all I can do and hopefully they will see that.

Thanks for all comments. Just to get others opinions sometimes helps me to see clearly. thanks again. This website is fantastic. Dadoo Ron Ron Ron Da doo Ron Ron

Well done! :T
Good to be of some help.
Make sure you do your budget for the future so that you will not be in similar pickle again. Good Luck