Barclays taking house off 76yr old with Dementia, as Interest Only Mortgage has expired

getmore4less

Bimbly wrote: »

It appears from earlier post that correspondence wasn't received due to not living at the house, and neighbour alerted them.
...

Mail should be checked regularly

4 weeks max between checks unless totally on top of finances.

The dates of corrispondence is important to check if the correct process has been followed

Thrugelmir

badmemory wrote: »

The biggest problem with this is that they will take it & sell it at auction & they will only need to reach 17% of its actual value. That is all they need to make to clear the debt. They do tend to make sure that there is nothing left after they have taken their cut.


So someone is going to get a bargain & all her neighbours houses will be devalued.

Utter nonsense. There's a procedure followed to ensure that the property achieves it's best possible selling price. Lenders have a duty of care towards the mortgagor. Members of the Council of Mortgage Lenders have an agreed protocol in such circumstances. All major UK lenders belong to the CML.

Thrugelmir

dementia_barclays wrote: »

Is this forum sponsored by the banks?

However much we empathasise with the personal side of the story. That serves little benefit. Certainly doesn't help with the contractual breach of terms that's occured. Nor that correspondence from the lender has been ignored for some time in the hope that they will simply go away.

We can only respond to what get's posted as well. Many of us have worked in our respective fields for many a year. Seen and heard it all before. Therefore work on the basis that not all the relevant information has been forthcoming. People understandably are economical with the truth.

Rather than fight the lender and attempting to assign blame elsewhere. Put your mother first and do what's best for her. As her condition isn't going to improve. Having a friend that developed a serious form of dementia at 56 (forget where she left her car on several occasions). I know how debilitating the disease can be.

Mortgage_Adviser

OP, why don't you remortgage (eg equity release/life tiem mortgage) to a different lender which would guarantee she can stay in the property for the rest of her days without having to pay any monthly payments?


Why make the life complicated there when there is an easy-ish solution?

Partridge89

Doesn't she have to be of sound mind to take a Lifetime mortgage?

dementia_barclays

Whilst there is a chance, it won't me more costly than the current 5% minimum, she cannot sign an equity release/life time mortgage with dementia, surely?
(involving her would kill her/ruin her improvement from a skeleton)

And no time to take control, against her will. Court date is days away (next Tuesday).

Barclays not taking a Dementia/COPD sufferer house, for 17% mortgage, is the only immediate hope.

Especially after blocking any help from me and miss selling her a bad mortgage deal, loans and overdrafts!

Thrugelmir

dementia_barclays wrote: »

Especially after blocking any help from me and miss selling her a bad loan deal, loans and overdrafts!

There's more to the story then. I would be cautious of blaming the lender for everything.

dementia_barclays

More to story (you again!)...
yes, they make it incredibly difficult to prevent someone with Dementia being sold products/mess up their affairs
or for the only family member to even know there is a problem.

(know it's not personal to me, as you appear to be suggesting, as they treat all with this illness equally badly)

financegeek

I understand she's not well, but whatever happens she's going to have to be involved.

is she aware there's a court date next Tuesday? what if they're granted repossession? Do you also intend to keep this from her?

Hoping they'll have some heart and not repossess isn't necessarily going to be a winning strategy unfortunately. Surely it's better to tackle now and resolve, before time runs out and her home is lost?

dementia_barclays

Only heard in May this year that her mortgage had ended and they agreed to continue it
(should continue he said).

Only had 30 days notice of the repo court date and until now, time spent arranging an email from the Doctor and then when they changed their mind, a letter.

Telling her anything, means her knowing it, for around 3 minutes.

Once we have more time, we will impress you all, with how we will accommodate Barclays Bank & remove them from our lives.