Northern Rock buy to let help please? Bad treatment I feel.

CarsOrBikes

Hi All

I don't know if i'll get a link to professional assistance here but, I have three accounts with Northern Rock, 1 x loan, 1 x residential mortgage and the problem one, a buy to let mortgage.

My mortgage ended it's fixed period of three years in March this year, and in Sept 07 I ported it across to a new prestige apartment apartment from the new house I had before. The point was really to use forholidays as before, but the management company say I cant and even though the conveyancing solicitors were asked they'd said they couldn't see a problem. The day of completion was when I found out the management co. didn't like it.

The property was empty until Sept this year, and only had a tennant found under an AST with Watson Bull Porter, and only then because I ran out of money having sold pretty much everything to cover it until this point. I had an operation in June whichwas to investigative, but they repaired something whichresulted in abstenance from work for 4 months and the Mortgage was last paid in July.

Northern Rock were very quick to call me daily, and send many letters, asking for money I didn't have, and demand arrears in full. They say they don't work like the residential section, which is on the same floor as them, and that 'it's a business mortgage' and they don't have a reduced payment factility.

They threatened me with a law property receiver unless I paid them, and also unless I got a tennant. I got a tennant pretty much straight away when they said it would stop them getting a receiver. But the rent acheived was not whatthe Northern Rock surveyor had said was acheivable when he valued it (approx 500 light). The tennant moved in End Sep and WBP had to get certificates etc, and the first two months had expenses deducted, and the fees etc. I have spoken to N/rock several times to try to arrange a reduced, accepted paymenjt, but they refuse, yet write to me suggesting I need to make arrangements.

This is infuritaing as despite hours on the phone where they seem one minute like they are taking meaningful notes, the next minute they call and refuse to accept anything other than 'all' the money.

They sent a field rep round unannounced, who went through income and expenditure, and took details of my proposed payments which were to be approx 300 in Oct, 500 Nov, 700 Dec and normal in Jan, and the agent seemed to think it was acceptable as clearly I had no other money.

They were very critical of my car and motorbike insurance, and argued my domestic expenses, but although our kids are only here alternate weekends, they are teenagers, and expensive. I don't earn a lot, neither does my wife, but she isn't on any of the accounts, due to the lenders refusal to accept her, so I argued they should be not including her income now, if not good enough to allow her to be on the account initially.

The lender will not respond to my repeated insistance I wish to pay them, and have still threatened a law property receiver, even after clearly saying after consultation with a supervisor on one incoming call, they wouldn't. Now I learn they have, and when questioning WBP they confirm they had correspondence saying rent would be paid direct to the receiver.

WBP charge the same as the receiver, and I said this to N/Rock, along with the fact that appointing someone prematurely, and against my wishes, only to increase the dept as they add 700 to my balance for the privilege, it is unnacceptable and they should remove the receiver.

They say they can't remove them, but they are not administrative receivers, only law property receivers, but apparently they act for me? They can sell the apartmment too?

It was already on the market, and now they forced me to put a tennant in, two people wanted to view, and one was a cash buyer, the tennant refused to allow the viewing, which although they are allowed to under 'quiet and peaceful enjoyment' etc, the fact it is for sale was known prior to tennancy, and is likely to lengthen the AST.

I want to know how I get someone to take up a case if there is one, to protect me from this rip off. Arears is one thing, but all the calls are recorded at the lenders, and when asked for copies of the conversation, they said they will listen to them and check, coming back to me and denying the content. They also refuse to give me the senior manager of the buy to let name, and after asking about eight times, the woman finally gave me four supervisor names, but only when I suggested she play the call back so she could hear how obstructive it sounds, wtih me asking to come to arrangements, and her refusing to give managers names.

My property is in the hands of someone it shouldn't be, I can pay as per the arrangement discussed with the lenders, but they won't put acceptance in writing, and until they do, I don't want to hand over any more money, only to find they still harrass me for more, ignoring the converstations I have with them.

Surely they can't treat me like this?

I told them several times I am not a business either. They keep saying it is a business loan?

Long post, thanks for reading

SouthCoast

Your BTL property is a business.

Contact Business Debtline for advice.

The helpline that provides free, confidential and independent advice on how to deal with debt problems.
So that we can provide you with the best possible advice, we need you to tell us which country you are living in. This is because the laws concerning debt vary depending on whether you live in England & Wales or Scotland. You can be confident that the advice you're looking for is targeted to you.

http://www.bdl.org.uk/

Senior_Paper_Monitor

Frankly I am not taking sides here as it appears that NR may have reasonable grounds to take whatever position they like, however you are entitled to any data held on you including full transcripts or copies of the telephone conversations.

If you feel access to these will be of assistance to your case simple give a written request to Northern Rock in accordance with the Data Protection Act for copies of of all data held on you and/or any party (commercial or individual) having the mortage on the buy to let property, specifically including but not limited to recordings of telephone conversations - they can charge you up to £10 on behalf of each party making the request.

This sounds like a bad situation - whoever is to blame - which may have serious implications for you ..... professional, experienced help (which you will need to listen to) is vital before the situation gets worse.