NRAM "demanding" Income and Expenditure. Help needed please

DancingDolly

Can anyone help me with this please. I consult these forums regularly and always find them of great help. A good friend has come to me knowing that I rave about this site! Has asked for advice.
He has a Buy to Let mortgage with NRAM. Cut a long story short, they took him to Court last year based on a fraudulent Income and Expenditure asking for an Eviction Order. Fraudulent because it was non existent! Should never of even got to Court, right?! Made an offer which Judge upheld and all was fine. This was up until January of this year when the monthly mortgage payment was £45 short because of a Gas Safety Check. (Letting agent deducted from rental income) The payment was still over the monthly mortgage payment. But, because NRAM now say that he broke the arrangement they need to put another one in place and they "have" to have an I&E. The full agreed monthly amount has been paid every month since this one shortfall and he assures me he has made many many offers to put an agreement in place for the original agreed amount. Now I'm not a big fan of the Bankters, and neither is my friend. We have been told that he is NOT legally obliged to submit an I&E which NRAM have acknowledged to be correct, but they have said as part of their process he has to complete one. Now, he's received a letter saying that NRAM has instructed a firm of agents acting on their behalf to visit both rental property and his property to discuss his financial circumstances. If he meets them, no charge, if he doesn't agree to meet them they charge £103.50 to be debited the loan balance!!
Now, giving the current state of the Banking Industry and what they've all been up to in recent times he doesn't want to just be subservient to their demands and wants to fight back. Question is, can anyone advise what law we can quote/cite in his next letter to them in order to squash their bullying tactics and tell them once and for all that an I&E is legally not required in order to put a payment agreement in place. Monthly payments are being made on time every month since, for the full original agreed amount that the Judge put in place.
Would be grateful of any advice or links. Thanks in advance.

grumbler

Mortgages & Endowments board? Or House Buying, Renting & Selling?

ILW

DancingDolly wrote: »

Can anyone help me with this please. I consult these forums regularly and always find them of great help. A good friend has come to me knowing that I rave about this site! Has asked for advice.
He has a Buy to Let mortgage with NRAM. Cut a long story short, they took him to Court last year based on a fraudulent Income and Expenditure asking for an Eviction Order. Fraudulent because it was non existent! Should never of even got to Court, right?! Made an offer which Judge upheld and all was fine. This was up until January of this year when the monthly mortgage payment was £45 short because of a Gas Safety Check. (Letting agent deducted from rental income) The payment was still over the monthly mortgage payment. But, because NRAM now say that he broke the arrangement they need to put another one in place and they "have" to have an I&E. The full agreed monthly amount has been paid every month since this one shortfall and he assures me he has made many many offers to put an agreement in place for the original agreed amount. Now I'm not a big fan of the Bankters, and neither is my friend. We have been told that he is NOT legally obliged to submit an I&E which NRAM have acknowledged to be correct, but they have said as part of their process he has to complete one. Now, he's received a letter saying that NRAM has instructed a firm of agents acting on their behalf to visit both rental property and his property to discuss his financial circumstances. If he meets them, no charge, if he doesn't agree to meet them they charge £103.50 to be debited the loan balance!!
Now, giving the current state of the Banking Industry and what they've all been up to in recent times he doesn't want to just be subservient to their demands and wants to fight back. Question is, can anyone advise what law we can quote/cite in his next letter to them in order to squash their bullying tactics and tell them once and for all that an I&E is legally not required in order to put a payment agreement in place. Monthly payments are being made on time every month since, for the full original agreed amount that the Judge put in place.
Would be grateful of any advice or links. Thanks in advance.

Is he behind with any payments as he agreed when taking out the original mortgages(s)?

Hanky_Panky

So if I have got this right he has a suspended possession order based on him paying the agreed amount and he was £45 short one month.

If this is correct then why didn't he make up the shortfall in that month ?

If he already has a suspended order then they are also quite within their rights to go back and obtain full possession - why is he mucking about ?

It's not really the time to try and 'fight back'. Just play ball, it actually seems like they are trying to help him.

Also for reference - the agent who visits him will be self employed field agent (not a doorstep collector) and just there to collect the facts (I&E) and possibly any offer of payment to make up the shortfall. Why not meet him.

chanz4

Play ball or loose the second house simples

Agricolae

He seems to be skating on thin ice a bit here.

Does he lose anything by submitting his I&E facts?

Yorkie1

OP has duplicate posted this on another 2 boards.

Suggest you put all the replies from now on, on the Mortgages forum thread, which has the most answers.