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Bank destroying me due to mortgage please help

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Can someone please help re my situation, due to cicumstances I had to drop hours that I worked from 6nights pw to 2 nights,my 14 year old daughter moved in with me after divorce this was 2011
At that point I informed the bank of my situation and was put on interest only from repayment this continued into the second year of interest only but at no point in arranging this was I informed how much my mortgage payments would be after the interest only period finished the bank knew my income was around 1100 per month but when the interest period finished the bank was now looking for me to pay 820 per month, at that point I asked the bank to extend my mortgage this was refused due to the mortgage finishing when I was 65 but there was a sub account on the mortgage which finished in 2017 and this was causing the high repayments I had forgot about this part due to going through bad divorce ect and my annual mortgage statements hadn't made that part clear as there was 5 sub accounts on my mortgage and at no point was I giving the option of extending this part or fully informed of this part of the mortgage whilst in contact with the bank and I was not ever informed of what my payments would be at the end of interest only.
Trying to make payment of 820 per month from an income of 1100 meant I was getting out of my depth and missed payments ,the bank knew my situation and income they also knew I was on a debt arrangement scheme but in no point of contact did they ever offer the option of extending the mortgage especially the sub account which was causing the payments to be so high, they had also carried out a financial review over the phone early 2013 so knew full well of my situation
In dec2013 the bank sent an external field agent to my home they charged me 100 for this, on his visit I recorded the conversation in case he gave advice and at that point of his visit the bank knew I was off work due to an accident and was waiting for an operation my income at that point and for 6 months was ssp of 400 per month but the bank where still pushing for 820 pm the field agents advice to me was to not to pay the bank as the money would be better in my control this was the only advice he gave me.
I informed the bank in jan2014 of what the field had said for this to dissmissed and to be told I need to make payments of 820pm I tried my best to make these payments which put me further into debts cause I was now missing payments to other things council tax ect and incurring fees by missing other payments
In August 2014 the bank phoned me out of the blue and asked if I would like to consolidate my debts with them which would now bring my payments to 960 pm even though they already knew my income but at least they gave the option to pay more but never an option to pay less
In February 2015 whilst phoning the bank to make an 820 payment I yet again mentioned what the situation had been through out and for the first time the person I spoke to said I had grounds for complaint this was then acted on
The bank reduced my monthly payment to 540 pm and offered 200 in good will and offered to remove some charges amounting to 400 but between nov13 to feb14 the bank had added over 500 in charges and nearly every month I was late with a payment or missed a payment I was being charged 70 for the same letter
I also informed the bank that Ive still the recording on my phone between the field agent and myself but the where not interested in listening to this but it's the only way I can prove these events have taken place as they wont believe anything I say to them regarding any of this as its not on there system so how am I meant to prove anything
Can some please advise is this worth taking to the financial ombudsman because im now in a real mess due to the banks inability to listen or give me options this has caused me to get further into debt and make bad financial decisions regarding what was being paid and what was missed and at the end of the day I'm now in further financial hardship due to all this
This is my first post and all I'm looking for is advice please excuse spelling mistakes and bad grammar but I do need help. Frank
Last edited by Ziggymax; Today at 4:13 PM. Reason: Wrong date
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Comments

  • Opinion
    Opinion Posts: 401 Forumite
    If you could break that into paragraphs it'd be helpful for others. Maybe some full stops and commas too.
  • brit1234
    brit1234 Posts: 5,385 Forumite
    Sounds like you can't handle money well. Sell the house, pay your debts and rent.
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

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  • Landofwood
    Landofwood Posts: 765 Forumite
    I'm sorry to hear about your problems.

    Your attitude that it's the bank that is "destroying you" is problematic.
  • Ziggymax
    Ziggymax Posts: 6 Forumite
    Opinion wrote: »
    If you could break that into paragraphs it'd be helpful for others. Maybe some full stops and commas too.
    Okay sorry again about phrasing of post only looking for help and advice regarding the situation
  • tomtontom
    tomtontom Posts: 7,929 Forumite
    Do you have any equity in your property?

    It does appear that renting would be more suitable for your situation.
  • Ziggymax
    Ziggymax Posts: 6 Forumite
    Landofwood wrote: »
    I'm sorry to hear about your problems.

    Your attitude that it's the bank that is "destroying you" is problematic.
    It's a figure of speech, but if they had acted when they could've I would been a lot better position financially work it out I would've been around 280 to 320 a month better off to pay for basics like heating ect
  • Ziggymax
    Ziggymax Posts: 6 Forumite
    tomtontom wrote: »
    Do you have any equity in your property?

    It does appear that renting would be more suitable for your situation.
    Yes about 40000 but won't get another mortgage due to the mess of this one and rent would cost as much if not more than my current mortgage payments which I now find affordable
  • tomtontom
    tomtontom Posts: 7,929 Forumite
    Ziggymax wrote: »
    Yes about 40000 but won't get another mortgage due to the mess of this one and rent would cost as much if not more than my current mortgage payments which I now find affordable

    What happens when your mortgage payments increase again? You're back in the same mess. You need to be proactive to stop that happening again, and that would be selling up and renting. If you are on a low income you will qualify for housing benefit towards rent - you can't claim this towards a mortgage.
  • ermine
    ermine Posts: 757 Forumite
    Part of the Furniture 500 Posts Photogenic
    im now in a real mess due to the banks inability to listen or give me options this has caused me to get further into debt and make bad financial decisions regarding what was being paid and what was missed and at the end of the day I'm now in further financial hardship due to all this

    You have had terrible luck and commiserations for that. However, you must get out of the mindset of blaming others. You are basically living way beyond your means; this is not unusual in a divorce because it sounds like you are in a house that was supported by two incomes now has to be supported on one.

    Consider getting debt advice from the CAB and take a look at the dealing with debt board on here for other pointers.

    Tragically, your situation can only improve as and when you decide to take responsibility for your situation and stop blaming others. That's tough to do when you have had a run of bad luck, but there probably are effective solutions for you. The usual solution for living beyond your means is to downsize. Get expert help to resolve the problems you've created and clarify the wya forward.
  • lovehackney
    lovehackney Posts: 162 Forumite
    Ninth Anniversary 100 Posts
    What do you want the bank to do? If you stay on interest only, you will eventually need to repay the capital. It sounds like you are unable to do this. These days banks want to see you have a credible repayment plan in place. you can't afford a repayment mortgage on your current property. Only option is to a) increase your income so you can afford it; or b) sell up, rent and possibly claim housing benefit to help with the costs.

    The bank can't let you stay in your property indefinitely if you can't afford it, unfortunately.
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