short fall in mortgage

ValHaller

Yes, I think the Barclays part of the DMP is going to put them in the wrong frame of mind towards you. How much do you owe them on the DMP? Is it an amount which could be rolled up into your mortgage? OK, they might be reluctant, but for the, it would become secured and interest bearing.

I think that you could stall Barclays on this for a fair amount of time, by putting the house on the market if it gets too hot - say 3or 4 months after your mortgage is due to be paid off. If the viewers don't like the smell of curry and dog and the overgrown garden and your shtty attitude you will have got yourself over a year. If you keep up payments over the period and make headway, then it may be even longer before you are called on it.

The basic approach is to make it easier for them to put your case back to the bottom of the pile every time they look at it.

You may need to think too about defaulting on the rest of the DMP if this will release more funds to get the matter sorted - although it may be preferable if your credit is now clean to think about keeping it clean so that towards the end of a battle with Barclays you can start putting day to day expenditure on the card, paying minimums back and putting the cash you would otherwise have spent towards taking the mortgage to some trivial level. Deparate stuff, but I think there are ways and means of keeping Barclays at bay.

Barnaby

Thanks ValHaller.
As much as I'd like to give Barcs/Woolwich a bl**dy nose I'll wait to see the result of the call back by the other Barcs team.

I've also spoken with the FSO and the Money Advice Service both think I have a case ref being allowed to close the policy which was attached to the mortgage. I'll hold fire on that until I get the mortgage shortfall set up.

Still waiting for the Barcs/Woolwich Call back.

Regards

ValHaller

Barnaby wrote: »

.... As much as I'd like to give Barcs/Woolwich a bl**dy nose I'll wait to see the result of the call back by the other Barcs team.

Seeing this through, paying them off and keeping your house would be 2 fingers and in your position, I think giving them 2 fingers would suit me fine. Giving them a bn will probably set you in the wrong frame of mind to win the important things.

You now need to think through your game plan and what to get recorded in correspondence vs what to keep to discussion and calls.

Barnaby

Thanks again ValHaller.
I've been doing as you just suggested.
I've made an offer to keep paying the same amount as I was for the 3-parts of the mortgage but applicable to the shortfall over 5 years. They know I've been paying that for the last 15 years.
I'm awaiting their other team to contact me to discuss.

I've tried other ways of raising a loan but they're either too costly or just won't do it.

I'm assembling my file from all the correspondence I have ref the insurance that got stopped which would have paid off this shortfall.
The FSO, CAB and Money Advice Service all think I have a good case for future claim here.

If Barcs come up with an acceptable offer I will accept it then pursue the mis-selling/bad advice claim later.

Regards

Barnaby

Barcs/Woolwich letter of reply arrived today.
Not interested in a 5 year plan but instead have offered a 2 year plan at £540/month. Saying any missed payments will incur a £40 charge.
I rang them and they say after reviewing my application paper work they reckon I have enough disposable income to pay this much???? They went on to explain that they had used the CCCS/Step Change figures as a guide and reduced my outgoings accordingly to allow this. Isn't the important word here, GUIDE LINES that's what they are supposed to be not finite figures.
Anyway after I complained that their decision seemed very heavy handed and somewhat cavalier they made a final offer of a 3 year period at £390/month.
I've asked them to put their offer in writing and to send me their calculations so I can review them in case an error has been made by me when filling them in. Checking my figures on my file copy show I have a disposable income of just under £300 and not the £540 they have calculated it to.

If I don't find any errors in my paperwork where do you think I stand in arguing my disposable income figures are correct and the ones that should be used.
Remember I am in a DMP which has been accepted by my creditors and these are the figures I am using to fill in my mortgage extension application, repaying it over 5 years.


Regards