House repossessed

Biffer123

In Oct 2013 i was made redundant and struggled with my Mortgage payments, and fell into arrears, i informed the lender who sent an advisor to my house who discussed my situation, I told her that i was startinfg a new role in the next 8 weeks and also as i was coming up to 55 i would be able to draw down from my private pension within 4 months to pay any arrears outstanding should i need too, and i was assusred it was not going to be repossessed, two weeks later i recieved a Court order and repossession notice giving me 6 weks notice. I contacted the lender who refused to meet with me, so i contacted Citizens advise who drafted a letter and advised me to sell asap as the court date was set and they would repossess. I sold two days before repossesssing at a price well below market value and had to rent
I was devastated and since have been renting with no chance of owning my home again, i had twenty years and three motgages with the same company and forever worry what happens when i retire as all i had was in my home.
I am absolutely furious to have recieved a letter from them recently with a payment of nearly £700 for overpayment on my mortgage due to a computer gliche in the time of my repossession. This would have not only saved my house, part paid the arrears and given me the time to sort payment but also given me and my family a future along with my own property rather than renting for the rest of my life.
I was wondering is there anything legally i can do or a course i can take for compensation.
thankyuo

BoGoF

A tall story methinks

[Deleted User]

How far were you in arrears at the time of repossession? It sounds like several months, a lot more than a few hundred pounds.

Good news to receive £700 though.

worried_jim

No one has their house repossessed for £700.

piper89

Deleted_User wrote: »

How far were you in arrears at the time of repossession? It sounds like several months, a lot more than a few hundred pounds.

Good news to receive £700 though.

what if he was like my self and his Mortgage payments are £92 p/m sounds quite plausible to me,that £700 could have easy been 6 months payments.............

piper89

worried_jim wrote: »

No one has their house repossessed for £700.

Says who??? you???
Can we see your Evidence to back your statement up???

TrickyDicky101

Assuming it all happened as OP stated then it would seem to me that OP should direct their anger towards CAB rather than the lender - it never got to court so we will never know if the court would have authorised repossession.

Pixie5740

piper89 wrote: »

what if he was like my self and his Mortgage payments are £92 p/m sounds quite plausible to me,that £700 could have easy been 6 months payments.............

It takes a long time for a lender to repossess a property. We're talking over a year's worth of arrears before it even gets to court. The reason being that lenders don't really want the hassle because it is expensive and is a lengthy process. Lenders would much rather work with the mortgagor than repossess.

Even those chumps with interest only mortgages and no repayment vehicles are given longer than the OP when the capital repayment date comes round.

-taff

As you say, the 700 hundred rebate would have part-paid your arrears, not fully paid them.
This sounds like you were months in arrears, not a month or two. This glitch that produced the 700 could have occured over a year or two, which would have meant a few pounds more on your mortgage per month, not a full 700 pounds in amonth, so unless you were struggling anyway, ten pounds more on your mortgage wouldn't have put you into arrears that badly.


You were made redundant and when the bank came to see you [you didn't go to the bank yourself?] you told them you'd be starting a job in another couple of months, which woud have been pushing a year in arrears by then?


As above, you never did go to court where you could have asked for a stay, you sold the house, and for it all to have been completed [ and I'm talking a minimum of 6 weeks] then that's almost another couple of months in arrears.


Your opening post paints a picture of someoe who was only 700 in arrears, but realistically, it was more than that and a quite a few months in arrears. The 700 might have made a slight difference, but as you say, would only have part paid the arrears.


You don't really have anything to complain about [looking at this logically rather than emotionally] going by what you've said so far. More info is needed.

worried_jim

piper89 wrote: »

Says who??? you???
Can we see your Evidence to back your statement up???

Yep, I work in mortgage recoveries for the UK's largest high St bank.

glennstar

I wouldn't mind hearing a little more about the specifics. What was the term of the mortgage, how much was owing, how much was in arrears, what did you sell the property for, etc, etc.

As zx81 and worried jim have pointed out, this does not sound like anything close to an accurate account of the circumstances.