URGENT Changes to Morgage Interest Support [merged]

dave030445

dmg24 wrote: »

Just a reminder to those who are affected - you really need to contact your MP to ask them to look into this. There are a few petitions on the subject, but nothing will be done unless someone of influence (an MP or a formal pressure group) takes up the cause.

If anyone has already gone down this route, please do report back with any progress.

Ive sent a email to my MP today and waiting for a reply. I may contact his office to attend one of these surgeries. Not sure what they are. Do you get to speak to him on a one to one, or are you in a group.
dave

Tara100

woodbine wrote: »

tara,it looks like your lenders interest rate is above the 3.7%that the dwp will pay from 1/10,do you know 1)what your interest rate is and 2)the outstanding balance?
given those 2 figures i could work out whats what
if you prefer not to post the figures feel free to pm me
john

Sorry John, I am not absolutely certain of my rate (and typically I can't find the letter with the most recent rate change) so I'll phone the lenders tomorrow and PM you afterwards

Thanks again

MissMoneypenny

woodbine wrote: »

tara,it looks like your lenders interest rate is above the 3.7%that the dwp will pay from 1/10,do you know 1)what your interest rate is and 2)the outstanding balance?
given those 2 figures i could work out whats what
if you prefer not to post the figures feel free to pm me
john

This BBC mortgage calculator can be used to work out what the interest payments are too.
http://www.bbc.co.uk/homes/property/mortgagecalculator.shtml

DouglasW

I worry that this forum is advising people to muddle on and petition for more government help for mortgage payers. The government is out of cash and the property market bubble is starting to collapse. Get out now if you possibly can and let some greedy buy-to-let landlord take the pain of the coming collapse. If you manage to get out with some equity then great news - you'll be able to buy a sensibly priced property in a couple of years. Renting doesn't have to be hell (I've had some great landlords) but it definitely helps to be prepared to live where the rents are better value. That may mean changing schools and other upheaval but at least as a tenant you are free to move, as an owner in negative equity you are not. (With apologies to those in negative equity)

dmg24

dave030445 wrote: »

Ive sent a email to my MP today and waiting for a reply. I may contact his office to attend one of these surgeries. Not sure what they are. Do you get to speak to him on a one to one, or are you in a group.
dave

You will be able to speak to him privately. It would be worth trying to make an appt beforehand, as they can get very busy.

DouglasW, this thread is to support those affected by the changes. If you wish to discuss your opinion on the subject, there are threads on Discussion Time where your posts will be welcomed.

Tara100

woodbine wrote: »

tara,it looks like your lenders interest rate is above the 3.7%that the dwp will pay from 1/10,do you know 1)what your interest rate is and 2)the outstanding balance?
given those 2 figures i could work out whats what
if you prefer not to post the figures feel free to pm me
john

Hello John

I've PM'd you, but I'm not sure if the message has been sent as my 'sent messages' is clocking at zero!

Regards
Tara

DannyboyMidlands

dmg24 wrote: »

You will be able to speak to him privately. It would be worth trying to make an appt beforehand, as they can get very busy.

DouglasW, this thread is to support those affected by the changes. If you wish to discuss your opinion on the subject, there are threads on Discussion Time where your posts will be welcomed.

I think that DouglasW makes a fair point. If we are affected by the changes we have several options. One of which, I guess the worst case, would be to sell up and rent somewhere to live.

DannyboyMidlands

Tara100 wrote: »

Hello John

I've PM'd you, but I'm not sure if the message has been sent as my 'sent messages' is clocking at zero!

Regards
Tara

Hi Tara

I suspect that for peace of mind you're hoping for an answer a.s.a.p. Feel free to send me the details if it hasn't been cleared up yet. I'm sure I can help.

Dan

[Deleted User]

Tara100 wrote: »

Hello John

I've PM'd you, but I'm not sure if the message has been sent as my 'sent messages' is clocking at zero!

Regards

Tara

it has tara and ive repied

[Deleted User]

DouglasW wrote: »

I worry that this forum is advising people to muddle on and petition for more government help for mortgage payers. The government is out of cash and the property market bubble is starting to collapse. Get out now if you possibly can and let some greedy buy-to-let landlord take the pain of the coming collapse. If you manage to get out with some equity then great news - you'll be able to buy a sensibly priced property in a couple of years. Renting doesn't have to be hell (I've had some great landlords) but it definitely helps to be prepared to live where the rents are better value. That may mean changing schools and other upheaval but at least as a tenant you are free to move, as an owner in negative equity you are not. (With apologies to those in negative equity)

looks like it might be too late already,rightmove report that the number of properties on the market is at an all time high,with the average being 79 per agent,and that prices fell 1.1% last month.
this change in smi and the changes affecting claimants from january will only compound these problems