Santander lack of any assistance

[Deleted User]

Good morning all, first time poster so I hope this is all acceptable. I have been a long time customer of Santander and a mortgage adviser for 38 years, I currently have an on going complaint with Santander and I feel that this may apply to many customers with them and other lenders. Despite my doing the right thing and contacting the lender on several occasions during my payment holiday and receiving reassurance on each occasion that they would continue to help, I find that now the holiday period has ended Santander will offer nothing that does not have an adverse affect on my credit file. As a financial professional registered with the FCA I have to maintain a clean credit file, I can not therefore accept any option that has an adverse effect. Santander's position is "business as usual", i.e. they will offer nothing that is outside of standard criteria. The option I requested was that I pay interest only for a while which would allow the account to be maintained without generating any arrears, this is "outside of policy" and they therefore refused, so much for us all being in this together. As we look at the possibility of another lock down, surely government and lenders need to continue to offer assistance? if not we'll be looking at record numbers of repossessions and all the heart ache and misery that will no doubt come with it. 

[Deleted User]

If the payment holiday is still leaving you in financial difficulties, it's not surprising they can't help further. And if they continue to pretend that those who are unable to pay are as low risk as those who do, that's not going to help the economy.  

It's time to help yourself. Head for the DFW boards for advice on how to cut costs so you can maintain payments.

Thrugelmir

Without factual information CRA will become worthless to it's customers. People lose their jobs on a frequent basis not just during pandemics. As a consequence they find themselves in financial difficulties with their home at risk. Not mortgage lenders responsibility to manage peoples personal finances. The lockdown payment holiday window provided respite but not the answer. We all need to accept the fact that there's no end in sight currently and make decisions accordingly. 

bradders1983

People cant keep kicking the can down the road for ever and that includes the banks.

[Deleted User]

Deleted_User said:

If the payment holiday is still leaving you in financial difficulties, it's not surprising they can't help further. And if they continue to pretend that those who are unable to pay are as low risk as those who do, that's not going to help the economy.  

It's time to help yourself. Head for the DFW boards for advice on how to cut costs so you can maintain payments.

Thanks for the input, in a normal world I'd agree with you and have already taken action to make sure I don't lose my home, my point is really that these are far from normal times, giving borrowers a six month holiday then wiping your hands of them simply isn't going to be good enough, something like two million customers took a payment holiday, those still in need are being abandoned by the lenders and the government, after all this situation was caused by something that no one could have predicted and is completely unprecedented. Time will tell I suppose.

lincroft1710

As you are a long term mortgage advisor, I would have thought you would be in a better position than most forum members to approach Santander.

Thrugelmir

Badger60 said:

Deleted_User said:

If the payment holiday is still leaving you in financial difficulties, it's not surprising they can't help further. And if they continue to pretend that those who are unable to pay are as low risk as those who do, that's not going to help the economy.  

It's time to help yourself. Head for the DFW boards for advice on how to cut costs so you can maintain payments.

Thanks for the input, in a normal world I'd agree with you and have already taken action to make sure I don't lose my home, my point is really that these are far from normal times, giving borrowers a six month holiday then wiping your hands of them simply isn't going to be good enough, something like two million customers took a payment holiday, those still in need are being abandoned by the lenders and the government, after all this situation was caused by something that no one could have predicted and is completely unprecedented. Time will tell I suppose.

Up to individuals themselves to maximise the use of the 6 month window. Banks simply do not have the resource to micro manage individual account holders. 

[Deleted User]

lincroft1710 said:

As you are a long term mortgage advisor, I would have thought you would be in a better position than most forum members to approach Santander.

That would be a reasonable assumption, incorrect but reasonable. The question it raises for me is that if I can't obtain a resolution, how difficult is it going to be for  Mr Average?

[Deleted User]

Thrugelmir said:

Badger60 said:

Deleted_User said:

If the payment holiday is still leaving you in financial difficulties, it's not surprising they can't help further. And if they continue to pretend that those who are unable to pay are as low risk as those who do, that's not going to help the economy.  

It's time to help yourself. Head for the DFW boards for advice on how to cut costs so you can maintain payments.

Thanks for the input, in a normal world I'd agree with you and have already taken action to make sure I don't lose my home, my point is really that these are far from normal times, giving borrowers a six month holiday then wiping your hands of them simply isn't going to be good enough, something like two million customers took a payment holiday, those still in need are being abandoned by the lenders and the government, after all this situation was caused by something that no one could have predicted and is completely unprecedented. Time will tell I suppose.

Up to individuals themselves to maximise the use of the 6 month window. Banks simply do not have the resource to micro manage individual account holders. 

Easy to say when it doesn't apply to you.

Thrugelmir

Badger60 said:

Thrugelmir said:

Badger60 said:

Deleted_User said:

If the payment holiday is still leaving you in financial difficulties, it's not surprising they can't help further. And if they continue to pretend that those who are unable to pay are as low risk as those who do, that's not going to help the economy.  

It's time to help yourself. Head for the DFW boards for advice on how to cut costs so you can maintain payments.

Thanks for the input, in a normal world I'd agree with you and have already taken action to make sure I don't lose my home, my point is really that these are far from normal times, giving borrowers a six month holiday then wiping your hands of them simply isn't going to be good enough, something like two million customers took a payment holiday, those still in need are being abandoned by the lenders and the government, after all this situation was caused by something that no one could have predicted and is completely unprecedented. Time will tell I suppose.

Up to individuals themselves to maximise the use of the 6 month window. Banks simply do not have the resource to micro manage individual account holders. 

Easy to say when it doesn't apply to you.

I've been made redundant more times in my working life than you have I suspect. As the old saying goes. When somebody else loses their job it's a recession. When you lose your own it's a depression.