Missed Mortage Payments

r_n_carpenter

Hi All,

In December 2017 and January 2018 I 'missed' 2 mortgage payments as I was unemployed.
I had contacted Santander to ask for a payment holiday and they said these did not exist, but we worked a Payment plan.
We paid back the arrears within 6 weeks, and my credit score is the highest it has been in ages.
Today we called them to arrange a new fixed term mortgage and instead of the 1.83% rate we had been quoted by our advisor for 2 years, they quoted 3.75% and used our 'defaulted payments' as the reason.
This adds £200 extra a month to our payments and all they could say was ' you should be clear in 6-12 months'.
Could do with some help as I was never told this would happen, and would have found another way of paying my mortgage if this was known! Thanks

poppy10_2

r_n_carpenter wrote: »

Could do with some help as I was never told this would happen, and would have found another way of paying my mortgage if this was known! Thanks

What did you think would happen?

[Deleted User]

r_n_carpenter wrote: »

We paid back the arrears within 6 weeks, and my credit score is the highest it has been in ages.

Unfortunately, that would only be of any use if you were applying for an Experian mortgage.

Unfortunately, Experian don't do mortgages.

Lenders will price on risk.

ViolaLass

Your credit history shows that you don't always make payments on time.

Did you arrange the payment holiday on the phone? Got any paperwork? (They probably told you the conditions on the phone - sure you listened?)

minimike2

To clarify, are you just looking for a new product with Santander and not looking to make any other changes to the mortgage? All the arrears are now cleared and payments are now being made on time?

r_n_carpenter

Hi

Just looking for a new fixed term mortgage, no other changes - happy to use another lender. Arrears cleared in 6 weeks (they gave us 3 months) and all payments being made on time. Credit score is 600, and no loans, credit card on zero etc

r_n_carpenter

Do you know it is quite stressful when you are in that situation, and clear thinking isn't always easy! Calling the lender and arranging a plan before things got bad seemed like a good thing to do!!!!

ViolaLass

r_n_carpenter wrote: »

Do you know it is quite stressful when you are in that situation, and clear thinking isn't always easy! Calling the lender and arranging a plan before things got bad seemed like a good thing to do!!!!

I agree, I'm sure it was very stressful but that's not the same as "I wasn't told", which is what you claimed in your first post.

foxy-stoat

You need to wait for 6-12 months before applying for a new product with them.

r_n_carpenter

minimike2 wrote: »

To clarify, are you just looking for a new product with Santander and not looking to make any other changes to the mortgage? All the arrears are now cleared and payments are now being made on time?

Whats this?



Hi

Just looking for a new fixed term mortgage, no other changes - happy to use another lender. Arrears cleared in 6 weeks (they gave us 3 months) and all payments being made on time. Credit score is 600, and no loans, credit card on zero etc

ViolaLass

Incidentally, do you use your CC and pay off in full every month? If not, you're missing a chance to improve your credit history (not score).