Redstone Mortgages - Advice

MrsMacFarlane12

I would like to enquire on behalf of my parents if anyone has had any past dealings with Redstone Mortgages.

They have missed two payments, which they have already discussed to Redstone why, but now they (Redstone) are getting high on their backs, now, my mum is the only member of the family in full-time employment and my dad is retired due to illness, my older brother can't find a job and I am on benefits due to being unfit to work so paying bills is a bit difficult even with my dads MOD pension etc.

He (my dad) has just been in touch with our local council who have a department to help those in need of help with mortgages, but really after two payments, with an explanation given is it fair to be treating my mum & dad like c***?.

Simon_gloster

Likely they want the money back. Its probably a lender like Preferred or SPML oringinally.

They were quite hardcore back in the day.

The only way to deal with this is set up a payment plan with them over 12 months to claw the 2 months back. Any further missed payments whilst in arrangement will lead to them taking further action.

Income is the issue here, 4 adults to keep with one income. Appreciate you may he circumstances beyond your control, but temping agencies surely must have something, even if its licking stamps. In hard times.......needs must. Im not having a go I promise, but employment is the root cause here.

sammyjammy

Do you and your brother contribute financially to the household?

What happened that caused your parents to go from (presumably) covering the whole payment to being able to pay nothing the following month?

Are they on a repayment mortgage or an interest only one?

ACG

Your only 1 payment off where some lenders would look at eviction notices. Not wanting to scare you as it could be another 3 months down the line.

But the simple fact is that if your dad cant work, your mum cant work more hours then you or your brother need to go and work. The govt now is looking at jobs you can do rather than what you cant do so unless your not far off your death bed, go and speak to the job centre, they will find you something to do.

MrsMacFarlane12

I understand you all saying me and my brother need to work.

I am unable to work as I have mobility issues, and suffer from mental health problems etc.

My brother however is applying to every known job there is here in Fife and is always getting pushed aside, possibly mainly due to his HNC in Electrical Engineering, but he cannot even get a job within that trade.

Yes me and my brother contribute to the bills, as well as myself paying my own bills from when I was studying at college etc.

They have tried to reason with Redstone but all it seems is that they want the amount, my dad offered to pay an extra £50, on top of the already £150 they get, when his pension was paid but they flat out refused. My parents kept up with mortgage because when I was studying my HND I paid a quarter of it as did my brother when he was studying his HNC, but it all changed, and with my dad being ex-forces he is unable to receive help from the benevolent fund as they have already helped in the past,


My parents bank account was compromised last month and the month before me and my dad occasionally mixed our cards up due us both having same account with same bank and strangely the same last four digits of the card and we thought nothing of it until it happened.

ACG

Get everything you have in writing, make a formal complaint advice them that you are prepared to go to the financial ombudsman if they cant help you resolve the issue.

Im not asking you disclose information on an open forum. Its not impossible for people with mobility issues and/or mental health issues to work, even if its for yourself. Infact working may actually help with the mental health problems, being stuck inside all day isnt usually a good thing especially not for young people.

The long and short of it is that your parents are struggling financially, you either find a way to contribute more or they have to sell up and move elsewhere.

Im sorry to be blunt but there is only so much help we can give. No lender is going to allow you to go permanently into arrears unless there is an acceptable repayment method in place - £50 extra a month on a £150 mortgage to me actually sounds quite reasonable but if the lender has looked into this and the sums dont add up then this may be why there rejecting it.

aimzrabbit

Mrs mac

I have a redstone product a former beacon mortgage

the problem you have is that when your attempting to negotiate they are not a normal lender but a (SPV this means that your house security is part of a portfolio that is held by an Investor rather than normal bank )

they were fined the other year for treating customers
unfairly and are not in a position to really negotiate in arrears

as you are behind with your mortgage you will be accruing charges such as monthy arrears fee this will be adding to your outstanding mortgage i would ask them for a copy of charges added so far

there are 2 ways this will go , they want you to bring your account upto date with all arrears within 2 months , a field counsillor visit is £500 which is added to your mortgage if they send 1 out

if you get 2-4 months behind they will start litigation for proceedings .....they used to start ligitation for repossesion at 1 month until they were fined

I'm not trying to scare you but I have spent hours researching redstone , and luckily for me I have only 3 payments left tiil until i get shut

good luck