disadvantaged by the alliance and leister

skintmecol

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bumpybecky

Have you really sent that letter?

_Andy_

Not a great complaint letter - i.e. the sarcasm etc. Also you didn't put at the end specifically what you're after as an outcome to resolve it. It just reads as one big rant.

Peelerfart

In addition to the above,it is hard work to read and the spelling isn't great.
Please re read it because you've written it in anger I guess and you need to rethink it before sending

skintmecol

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Wutang_2

skintmecol wrote: »

as for the sarcastic remarks, i think considerng the current situ of this country and many people like myself ,i think we have every right.

Try to insert some better sarcasm and I am with you all the way - whoever said "sarcasm is the lowest form of wit" was someone who had just felt the force of some proper sarcasm...

Its like people who say "the customers always right" - the only people who say that have usually just done something wrong......AND, "there;s no such thing as a stupid question" - people only say this when they have just asked a really stupid question!

Anyway - this letter, bin it + its up to them to agree to the affordability not you unfortunately.

_Andy_

skintmecol wrote: »

well lets face it, he aint going to read it. why would he. they would sooner let sombody go bust than help them out. if by some chance i do get a reply i shall let you know. as for the sarcastic remarks, i think considerng the current situ of this country and many people like myself ,i think we have every right.

Why be so defeatist?
Sarcasm doesn't help with a complaint. neither does being defensive or emotive.

Mands

skintmecol wrote: »

the reason... affordablity ?? well lets look at the facts.
My property 310.000
Property to buy 280.000
My mortgage when first taken out 4 years ago 275.000
Mortgage today 252.000 meaning i would add 28.000 to make up the full price.
Leaving me with 38.000 profit. Even after fees, it runs to 27,000 enough to pay off my 3 credit cards, leaving me almost debt free!
The monthly mortgage would be exactly the same,in fact as stated earlier its due to drop by £500 in march.
Incidentally my salary is 52.000 as An Art Director for Sony.
So affordablity ????/ i don't thinks so, in fact a better financial situation i have been in, in the last 10 years! debt free for me,my seven year old son and my Fiance who is now disabled due to illness.

I *think* that you are saying you wanted to transfer a £252k mortgage to a property valued at £280k on a £52k salary.

That would be 90% mortgage. Not that many people get those, certainly not with a poor credit history and certainly not with £50k of credit card debts.

Looking at the salary vs mortgage: you are asking for a mortgage almost 5 times your income. Not many people get that and certainly not those with a poor credit history and £50k worth of other debt.

Would the transfer put you in a better position? Almost certainly and therefore I can see why you are frustrated that this hasn't happened. But it would be irresponsible of A&L to transfer this mortgage; you are on the brink of insolvency.

I'm sorry you haven't got what you wanted but it's clear that affordability and your financial situation are the issue here.

Mands

Thrugelmir

skintmecol wrote: »

well lets face it, he aint going to read it. why would he. they would sooner let sombody go bust than help them out. if by some chance i do get a reply i shall let you know. as for the sarcastic remarks, i think considerng the current situ of this country and many people like myself ,i think we have every right.

Reading the letter impartially. I feel you would have gone bust through your own intransigence and fault. Not the banks.

You've a £252k mortgage, and more than £27k of other debts. Supported on a £52 salary.

Even now you are not clearing your debts in exchanging houses.
I'm not going to tell you what you should do. Other than you need to wake up and face reality. Unlike others its totally within your powers to bring your finances under control.

skintmecol

so the mortgage i would be porting is 252, buts thats whats left of a 270 mortgage.
2nd my credit score is spot on, so i dont have a bad credit history, i just have too many credit arrangements. hence spending my profit to get rid of a massive chunk of debt seems a resonable offer.
nothing is going to change, payments stay the same, i reduce debt.
i cant change mortgage as i have a penelty of 8k if i do. so moving to a smaller mortgage 252,not 270 and paying off 20k worth of debt would be the good thing to do? surley thats better than going for an iva?

luckyfool

skintmecol - While your mortgage would reduce, Santander/A+L would be in a weaker position following the move. If you default now there is more equity in the property/a lower loan to value, by agreeing to the move they would then have a smaller cushion in the event that they needed to repossess the property. You might reasonably point out that you are much less likely to default on the mortgage if they allow the move, but ultimately that isn't their main concern, nor should it be. They are protecting their interests and those of their shareholders.

An IVA is one option, as a negotiated payment plan on your unsecured credit through the CAB, CCCS, or Payplan (or a commercial Debt Management Company). An IVA is technically seen as being much more serious (one step short of bankruptcy), but it does have advantages. A Debt Management plan on the other hand will tend to send all your unsecured credit into default which will still have a significant impact on your credit score. One option would be negotiated reduced payments through CCCS (or similar) for a year or two, then go back to the creditors and offer them a full and final settlement (such as 50-60p in the pound) to clear the balances. You might do this by selling your property and renting for a year or two (at this point you are unlikely to be able to obtain a high street lender or any mortgage at above 80%).

Just some suggestions.