Mortgage Express - unfortunate accident - interest only repayments??

SouthCoast

(50/50 equity, tenants in common)-

Be aware that joint and several liability means that both parties will be liable for 100% of the debt.

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surreybased

Hi,

How long will your friend be out of work? Could it be a short term, a few monthshs? Is there anything he can do to raise the money, family, or sell items?

Wutang_2

surreybased wrote: »

Hi,

How long will your friend be out of work? Could it be a short term, a few monthshs? Is there anything he can do to raise the money, family, or sell items?

hmmmmm....is there an echo in here?

JA1000

He just did

pararct

What are the circumstances of his accident? Did it occur in the workplace and did he cause it himself?

Even if the latter is true the employer will still bear some responsibility. As to whether that runs to mortgage liability may well depend on the opinion of a court. However it is worth pursuing given the potential negative consequence.
The company will have insurance in place called a liability policy but as a rule they do not que up to hand it over.

Suggest you post as much detail of the accident as you are able advice can then follow on whether there is an avenue worth following. Is the firm an established name or a fly by night builder type operation?

If he injured himself playing Sunday football in the park then forget about the angle I am trying to explore here.

JA1000

Where there's a blame.........................

sammyjammy

So his share of the payment is £350? Surely if he works full time he is receiving that much in sick pay? Statutory sick pay is paid at a rate of £79.15 per week. So for four weeks £316.60, a little more for a months pay, if he has to live off toast for a month or two and let the other bills go into arrears then that is what he should do. Paying your mortgage entitles you to a roof over your head and must be the first thing you pay.

computerad

sammyjammy wrote: »

So his share of the payment is £350? Surely if he works full time he is receiving that much in sick pay? Statutory sick pay is paid at a rate of £79.15 per week. So for four weeks £316.60, a little more for a months pay, if he has to live off toast for a month or two and let the other bills go into arrears then that is what he should do. Paying your mortgage entitles you to a roof over your head and must be the first thing you pay.

Yes, his share of the mortgage is £350, but then he has his share of the bills to pay too, which is about an extra £100. Then he has a BMW finance and his car insurance payment to find (which you can imagine is pretty expensive for a mid 20s bloke with a Z4) so sick pay won't go far.


He had a hand delivered letter from his employer, requesting his attendance to a meeting, so he rekons he's actually getting sacked today, so that could change things some-what.
Basically, he went to perform a service at a clients factory, but was left unattended. When he caught his fingers in a machine, which ripped and chewed the tips off each digit, only the security guy was there to help him. So luckily for him (or not..whichever way you look at it), he still anticipates receiving some form of conpensation, despite the submissal.

magpiecottage

A couple of points

Firstly, nobody lives in a BMW as far as I am aware so if he has to default then that should go first. The insurance is needed all the while he has it, though.

You say it was a fixed rate for three years from 2007 so presumably your rate will fall soon.

It will also be worth going back to Mortgage Express to ask them to reconsider.

If they refuse, remind them that Kensington has just been fined for treating customers in financial difficulties unfairly. (See here)

He should also see the CAB or similar. Help may be available with Council Tax and other expenses.

While he is in the office today, he should take down the details of the Employer's Liability policy (they have to display it) if he is considering making a claim against the employer (though it would be the employer against whom the claim is directed, if they disappeared the insurer would remain liable for a successful claim).

In saying that, I make no comment about the validity of such a claim.

pararct

computerad wrote: »

Yes, his share of the mortgage is £350, but then he has his share of the bills to pay too, which is about an extra £100. Then he has a BMW finance and his car insurance payment to find (which you can imagine is pretty expensive for a mid 20s bloke with a Z4) so sick pay won't go far.


He had a hand delivered letter from his employer, requesting his attendance to a meeting, so he rekons he's actually getting sacked today, so that could change things some-what.
Basically, he went to perform a service at a clients factory, but was left unattended. When he caught his fingers in a machine, which ripped and chewed the tips off each digit, only the security guy was there to help him. So luckily for him (or not..whichever way you look at it), he still anticipates receiving some form of conpensation, despite the submissal.

If he is in a Trade Union he needs to speak to them urgently if not then a no win no fee solicitor.
He needs to take someone with him to the meeting today as a witness to what is said. Even though he has little employment protection (2 months service you mention earlier in the thread) if this dismissal is a result of his being unable to work due to this accident it will very possible be unfair and the basis for another claim.
They will record the minutes of this meeting he needs to ask for a copy and to keep all correspondence given to him.

Good advice has already been given about the car. Why does he think he can afford such a large and expensive car with no safety net under him?

As for the where there is blame there is a claim Section 2 of the HSAW is very explicit. All employers (and I am one also) have a absolute duty to keep their employees safe as far as is reasonable practicable whilst they are going about their duties.

There are also very explicit regulations in place regarding the guards on machinery with the potential to injure. It may be possible that a criminal act has been committed if those regulations have not been followed.