Please Help need advise !!....

clarkson1970 · 30 June 2011 at 1:11PM

Hi,

my problem is that just over a year ago i had an accident (broken neck and Back) which unfortunately led to me loosing my employment on the grounds of incapability, Now i own a property in but was unable to pay the mortgage and at the time unable to live there on my own as i required constant care, I then had to let the property to enable me to still pay the mortgage, I called the lender to advise them of this and they informed me that this was possible to change the agreement but i would need to complete a letting application pack and pay a fee of £100. This was over 6/7 months ago, Now as i was not living at the property i asked if they could send the letting pack to where i was residing, they stated that, that was not possible and it had to be sent to my property, hence i had to re-direct my post. THIS IS WHERE THE PROBLEM STARTED.

non of the post was being delivered from royal mail ! i called the lender on three occasions to explain this problem i was having and asked again if it could be sent to me at the current residence, again the said no and sent another pack to my let address. I have taken issue with royal mail and after investigation the say there is no problem with my post re-direct.

about a week ago three letters arrived through my door all from the mortgage lender one dating back to April !!, basically they are stating as that they have not received the lettings pack back and the property is let they now class it as an unauthorized let and were either going to possible evict and add a 2% loading to my mortgage payment which would increase it from currently £550.00 per month to £770.00. the rent i get is £560.00 per month but add the Landlords insurance of £28.00 per month i was not making any money but in fact just about covering the payments. I can not pay any extra at present as i am still in recovery and have no income except from ESA payments of approx £360.00 per month.

I have spoken to the lender to explain the situation that if the increase payments i will not be in a position to make the payments, they also stated that even if the agree for me to let the property (which as of yet they have not done so) they would still add a 1% load which would increase the payments to £660.00 which would still leave me in the same situation. I have written to the lender (awaiting response) to ask them if they can agree the let and to not add any %load fee and leave the payments as they were at £550.00 as that is all i can reasonably afford to pay due to my current medical situation.

Could anyone please give advice on the following:

1. Do i have any other options i can negotiate with the lender.
2. What should i do if they do not agree to the letting
3. Is asking for a payment holiday an option (Good or Bad?)
4. Is they anything else i could to to avoid not falling into arrears.
5 they mentioned the possibility of a shortfall sale , what implications will that have on me.
6. I have also looked at bankruptcy, but do not have the £600 fee to do this! is there any help available out there for me with this problem as i fear i am on the road to loosing my property.

Hope you can help

Andy

rakkibeth · 30 June 2011 at 2:36PM

This sounds a tricky situation! i'm sorry for your accident, and i'm afraid i have no helpful advice, but thought i'd just say good luck and I hope very much that someone on here can help you.x