Problems getting Payment holidays from certain lenders

beelzebomb

I am full-time self-employed - & my income dropped off a cliff around March. The Govt, for all its shortcomings, was great for me - Universal Credit went through without a hitch and SEISS grant without issues too. But I cannot for the life of me get HSBC to answer/confirm my urgent request for a mortgage payment holiday. Clearly I do qualify and as I understand it, the Govt has directed all mortgage lenders to comply. Yet it is now nearly June and despite my warnings that I had no money, HSBC have faffed around and basically done nothing despite many emails and letters. I since found this week (on here) a link to request a break online. I do not bank with HSBC & have never been given any online access to my 3 mortgage accounts, nor did they tell me there was a link to request a break online. I now fear this request will be refused as I've been unable to pay the mortgage since March - the month I should surely have been granted the 3-month break.
I am in exactly the same situation with Elderbridge who I have a secured loan with - does a secured loan come under the same government guidelines as a mortgage? I've since used a load of my SEISS payment to bring Elderbridge right up to date (it's less than the actual mortgage of course & so easier to do so), but I resent this, as I believe they have purposely ignored my requests for a payment break. Now I would expect it from a bunch of charlatans like Elderbridge, but not HSBC!

beelzebomb

Anyone at all? Anyone have any thoughts or advice? I've now filled out a form relating my problems on the FCA website. Today I received an email from HSBC telling me they are looking into it and will give a response within 8 weeks... EIGHT WEEKS!

Thrugelmir

Were you in financial difficulty prior to lockdown? 

beelzebomb

Brexit was causing a slowing down of work, but it was beginning to rise again - but the point here is I am getting nothing whatsoever being relayed to me about the payment break option from HSBC - I ask, they say they are looking into my complaint. Before escalating this to a complaint I would ask, and they'd apologise and say they were looking into it. It's to do with the question being avoided by HSBC and what on earth I can do, what are my options? This is incredibly stressful and worrying and time is of the essence. As for those struggling, FCA guidelines:

If you are behind with your mortgage payments.

We expect lenders to offer payment holidays to borrowers who are experiencing or reasonably expect to experience payment difficulties because of circumstances related to the coronavirus, or another option better suited to your needs and in your best interest, whether or not you are already behind on your payments.

[Deleted User]

Well don't pay your next mortgage instalment then when they call, which they will, to chase payment, you just need to refer them to your previous requests. One thing this crisis has confirmed, is that everything is chase chase chase. They are quick enough to hound you over missed payments, so at least you've got the Government's recommendation to lenders behind you. 

Thrugelmir

beelzebomb said:

Brexit was causing a slowing down of work, but it was beginning to rise again - but the point here is I am getting nothing whatsoever being relayed to me about the payment break option from HSBC - I ask, they say they are looking into my complaint. Before escalating this to a complaint I would ask, and they'd apologise and say they were looking into it. It's to do with the question being avoided by HSBC and what on earth I can do, what are my options? This is incredibly stressful and worrying and time is of the essence. As for those struggling, FCA guidelines:

If you are behind with your mortgage payments.

We expect lenders to offer payment holidays to borrowers who are experiencing or reasonably expect to experience payment difficulties because of circumstances related to the coronavirus, or another option better suited to your needs and in your best interest, whether or not you are already behind on your payments.

Unfortunately there's probably not the resource to spend time on minute detail of every rejection as they are processed. That's the harsh reality.  Reviews will have to come later on. Once the dust settles. 

beelzebomb

But in the meantime, time passes and the next payment looms, then that becomes another missed payment as there is no agreement in place. It's all very well the Govt telling lenders to behave in a certain way over the pandemic, but when they don't comply, there seems to be simply nothing anyone can do.

gt94sss2

Have you seen http://www.elderbridge.co.uk/pages/covid-19-faq-repayment.html#main-content and https://www.targetgroup.com/apply-for-a-payment-holiday ?

beelzebomb

gt94sss2 said:

Have you seen http://www.elderbridge.co.uk/pages/covid-19-faq-repayment.html#main-content and https://www.targetgroup.com/apply-for-a-payment-holiday ?

Really helpful, thanks! I appreciate that info. That confirms that they are at least allowing such requests to be made.