Hassled over interest only mortgage

Blackjack_Davy

Hello I'm getting hassled by Mortgage Express/Bradford and Bingley over an interest only mortgage. They keep sending letters asking how I'm going to pay it off when the term expires. Which I've filled in and returned, twice now, but they keep writing back saying they havn't heard from me.

They also keep sending letters threatening dire warnings if its not paid off in full at the end of the term and I need to talk to a mortgage advisor and switch to a repayment mortgage, blah, blah.

I'm well aware of what will happen if it isn't paid in full at the end of term its in hand but they seem to want to badger me into switching to a repayment or making overpayments neither of which I have any intention of doing.

Its getting beyond irritating honestly what are my options here? The mortgage still has 20 years to go and the payments are met in full every months I've never gotten behind on payments not once in all the time I've had it seems to me they're hell bent on getting more money out of me in a hurry.

[Deleted User]

Your main option is to tell them what your repayment vehicle is.

Mahsroh

Deleted_User wrote: »

Your main option is to tell them what your repayment vehicle is.

OP's first paragraph suggests this has been done, but they keep ignoring, or misplacing the documents.

I asked Halifax on several occasions for a copy of an old mortgage statement. Every time they said they'd already sent it, and it would send it again. Never arrived. Eventually I got fed up and went into a branch and had a moan at the manager.... the statement landed in the post a couple of days later.

Not the same thing I know, but my suggestion is, fill the form out (again) and take it to a branch and talk to someone there.

silvercar

Had a smilar problem. The temptation is to write back and say 'mind your own business, you gave me an IO mortgage, now go away'. In practice this wont end the correspondence, so easiest answer is to write back with the answer. If they keep claiming it hasn't been received, take it in to a branch or post registered delivery.

Partridge89

Except B&B/MExpress don’t have any branches. Definitely a good recommendation for OP to send a further response via recorded delivery. If no joy, OP might be best giving the lender a call.

Mahsroh

Partridge89 wrote: »

Except B&B/MExpress don’t have any branches.

I did not know this! I'm sure there used to be a B&B in my home town.... i guess the key there is "used to be" - I assumed it's closure was specific to that branch... guess they must have closed them all!

Thrugelmir

Blackjack_Davy wrote: »

Hello I'm getting hassled by Mortgage Express/Bradford and Bingley over an interest only mortgage.

Has your mortgage changed ownership? As Mortgage Express/Bradford and Bingley ceased to exist some time back.

kingstreet

Blackjack_Davy wrote: »

Hello I'm getting hassled by HM Government's asset recovery team (UKAR) over an interest only mortgage. They keep sending letters asking how I'm going to pay it off when the term expires. Which I've filled in and returned, twice now, but they keep writing back saying they havn't heard from me.

They also keep sending letters threatening dire warnings if its not paid off in full at the end of the term and I need to talk to a mortgage advisor and switch to a repayment mortgage, blah, blah.

I'm well aware of what will happen if it isn't paid in full at the end of term its in hand but they seem to want to badger me into switching to a repayment or making overpayments neither of which I have any intention of doing.

Its getting beyond irritating honestly what are my options here? The mortgage still has 20 years to go and the payments are met in full every months I've never gotten behind on payments not once in all the time I've had it seems to me they're hell bent on getting more money out of me in a hurry.

A little perspective given by my amendment.

UKAR isn't a lender. It's there to get taxpayer money back from failed lenders.

Thrugelmir

kingstreet wrote: »

A little perspective given by my amendment.

UKAR isn't a lender. It's there to get taxpayer money back from failed lenders.

UKAR has sold tranches of the old mortgage books on. Latest is to Roscina.

http://www.bbg.co.uk/landlords/transfer-rosinca

kingstreet

Yep. That's what it's there to do.

I suspect the Interest-Only book is the one it is having the biggest problem shifting as a lot of the ME stuff is on sub 1% trackers with no repayment vehicles.

Im_Not_Dave

Write to their complaints department explaining what has happened so far and how much it is distressing you. They will have to respond, giving you a timescale, and provide details of how to escalate if you're not happy with the outcome. If they don't or they fail to provide a satisfactory outcome then write to the FCA. In either case you can claim some small compensation for your distress.