Advice on pending repossession needed urgently please

slg_sue

Hi all, I am new to this forum but am looking for some advice re a pending repossession on my home.

To cut a very long story short, we were sold a very hefty mortgage back in 2007 and almost immediately fell into arrears. We had a suspended possession order granted but as the payments were still ridiculously high failed to keep it and as such have landed ourselves a repossession date of 1st February.

We have submitted a N244 form to the courts to stop this eviction as our interest rate has been dramatically reduced as our fixed term came to an end and we are now in a much better position. After receiving a copy of our arrears statement it has also become clear that the true arrears are just over a months payment at the higher rate. The charges are extortionate. Due to this I have logged a complaint with the FOS. I have been told a repossession cannot take place if a complaint has been logged with FOS until it has been resolved, is this true?

ILW

Were you not told what the payments would be when you took out the mortgage? Were you misled in some way?

slg_sue

In all honesty, my memory is a bit hazy. We must of been told what the payments are going to be, and the advisor was so encouraging at how beneficial this mortgage was going to be for us!!!! My husband was the only wage earner and they did a self certification for us (his wage is far from impressive), we have 3 small children and took what he said as accurate and good advice. I had no idea of all the charges that would be put on should the account fall into arrears though.

I do feel we were taken advantage of due to our naivity and lack of knowledge though.