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Desperate
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Dmcol
Posts: 1 Newbie
IHi all,
I have an interest only mortgage which should be paid back in April this year. My flat is leasehold and has 61 years left on it. I had to retire early in 2014 because of the big C. I am 64 and only have my pension. I decided to sell the property because of the lease. When i took out the mortgage with birmingham midshires nobody explained to me about a lease.many people viewed the flat but were put off by the short lease. In November last year i found a cash buyer who wasnt worried about the lease. The asking price was £100.000 but i was advised because of the lease to drop the price to £75.000. I informed the end of term team at Bir Mid they said go ahead with the sale and we can sort out a remortgage after. I said to them i could pay back the shortfall at £400 a month for 5 years. The completion date is next Wednesday 28th March. My solicitor requested a statement from Bir Mid to ask how much to redeem. The people there said theres nothing on file to say i can sell my flat.ci rang them and said i was given permission by a man called N---at their end of term dept. He said go ahead and call back in April to arrange a remortgage. Its all on their computer system but it turns out N--- gave me the wrong information. Theyve admitted its their fault and are doing an internal investigation. I explained to them that my buyer wants to complete on 28th March and that i am willing to cover the shortfall at £400 a month.they kept putting me to various people saying they cant make that decision. I said iam willing to pay why you refusing my money. To cut a long story short theyve admitted its their mistake but will do nothing to help me. One woman there said your other option is to habd the keys back.i said iam willing to pay you back but you wont accept my money. The manager just said we have rules and procedures to follow. My solicitor is now going to speak to the buyers so,icitor. I am totally stressed not one person is willing to help or advise me as what to do. Iam a decent person and never been in debt before. Ive done nothing wtong they made the mistake and iam paying the price. I honestly dont know what to do its a total nightmare. Iam sorry for the long post.
I have an interest only mortgage which should be paid back in April this year. My flat is leasehold and has 61 years left on it. I had to retire early in 2014 because of the big C. I am 64 and only have my pension. I decided to sell the property because of the lease. When i took out the mortgage with birmingham midshires nobody explained to me about a lease.many people viewed the flat but were put off by the short lease. In November last year i found a cash buyer who wasnt worried about the lease. The asking price was £100.000 but i was advised because of the lease to drop the price to £75.000. I informed the end of term team at Bir Mid they said go ahead with the sale and we can sort out a remortgage after. I said to them i could pay back the shortfall at £400 a month for 5 years. The completion date is next Wednesday 28th March. My solicitor requested a statement from Bir Mid to ask how much to redeem. The people there said theres nothing on file to say i can sell my flat.ci rang them and said i was given permission by a man called N---at their end of term dept. He said go ahead and call back in April to arrange a remortgage. Its all on their computer system but it turns out N--- gave me the wrong information. Theyve admitted its their fault and are doing an internal investigation. I explained to them that my buyer wants to complete on 28th March and that i am willing to cover the shortfall at £400 a month.they kept putting me to various people saying they cant make that decision. I said iam willing to pay why you refusing my money. To cut a long story short theyve admitted its their mistake but will do nothing to help me. One woman there said your other option is to habd the keys back.i said iam willing to pay you back but you wont accept my money. The manager just said we have rules and procedures to follow. My solicitor is now going to speak to the buyers so,icitor. I am totally stressed not one person is willing to help or advise me as what to do. Iam a decent person and never been in debt before. Ive done nothing wtong they made the mistake and iam paying the price. I honestly dont know what to do its a total nightmare. Iam sorry for the long post.
0
Comments
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How much do you owe? Have you investigated how much it will cost to extend the lease?"You've been reading SOS when it's just your clock reading 5:05 "0
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