No money to pay interest only mortgage

John1429

Thanks for your post magpiecottage.

I am writing to Acendan this week with a letter that will request an extension along with reasons. Should I qoute info like "Financial difficulties is FSA's high level principles and rules and in particular Principle 6 (a firm must pay due regard to the interests of its customers and treat them fairly)" to strengthen my case or await an initial response.

John

John1429

Posted letter to Acendon today. Will update when I receive reply.

Stuey_Griffin

Sarah Smith from Channel 4, is beginning an investigation into the Lehmans servicer- ACENDEN (Capstone).

she is requesting any borrower or anyone that has been repossessed or being repossesed through ACENDEN to contact her at;

sarah.smith@itn.co.uk

if anyone wants to submit any info, your experience to her and finally get this exposed, now is your chance- she is committed, but needs your help.

the 'lenders' of Lehman Bros UK;
Southern Pacific Mortgage Ltd (SPML)
Preferred Mortgages Ltd (PML)
Southern Pacific Personal Loan Ltd (SPPL)
London Mortgage Company (LMC) various guises

John1429

Update

Received a letter today to confirm that the mortgage company (Preferred) have agreed to extend mortgage by 5 years.

Been a few phonecalls from Acenden since I forwarded the letter to discuss request. Have had to provide evidence of wife's illness and pension lump sum. They also did an affordibility check. Acenden passed on information to Preferred who then made the final decision as to extending mortgage.

Thanks for all the contributions as the advice was spot on about next steps. Huge relief and thanks again.

DiscoCat54

I'm really pleased for you, John1429.

holly_hobby

Thats super news John .... you obviously gave a well reasoned and supported request, well done you !

Mr Magpie's guidance was also excellent, and as we thought TCF came into play here.

Its nice to have a positive ending to threads such as this !

Well done once again ..

Holly x

charlie3090

Thats great news,so pleased for you:T

Jimbo1976

That's great news. I am very pleased for you. It is good to see that lenders can make sensible decisions to help their clients.

Thanks for letting us know