Asking for help from your mortgage provider

MichMoor

Hello All,

Further to my recent thread about the assisted sale scheme I contacted the mortgage provider to discuss options.

They told me I would have to be 3 months in arrears before they I could qualify for any help, at present up to date with payments.

This seems ridiculous to me as i am asking for help before I get to that stage, but is this normal?

Afterwards I spoke to a financial advisor who recommended we just did not pay the mortgage, either to then qualify for assistance or to get it repossessed (am seperated cannot afford it any longer and soon cos I work in public sector going to fall victim to the cuts with salary been reduced).

The estranged wife who is still livin in the house says we should default, must admit am inclined to agree, just want rid of it then can at least start on other debts and we both have somewhere to live. May have to go bankrupt when they come back with the shortfall though but worry about that then.

Will take further advice tho before takin this step, but if anyone else can suggest somethin will listen!

Thanks to all for the advice to date, very difficult time in my life.

Gemlou26

I am afraid it is the norm with mortgage providers for there to be an arrears situation before they can look at any assistance going forwards.

It does seem ridiculous to the mortgage payee but the lender would not want to encourage people who are keeping up their payments to ask for assistance, it is for people who are genuinely struggling (being in arrears would demonstrate that), imagine if a large proportion of their mortgage book did this. The fact is the lender wants you to make your payments in full every month they do not want to get into any arrangements as such.

Still not great for you I know but I used to be a mortgage advisor and dealt with many people who sensibly realised there was a problem and wanted to discuss before they got into missing payments.

I am really just saying it as it is from their prospective having been in the thick of it during the recession, I totally see where you are comming from on it.

Most people here will advise you to have a chat with one of the debt charities for all your options, I don't have the links someone will be along with them I am sure

Good luck

SouthCoast

Having problems with your mortgage payments?

http://mortgagehelp.direct.gov.uk/default.aspx