GMAC/KENSINGTON MORTGAGE HELP

Sarah_Kayte

Sorry, but this is a long post. I'll try and give the facts first...My ex-husband and I were given a 167K mortgage on 5.5 times our earnings (mine were self-cert). This was handled by a mortgage advisor who no longer practices so I can't go to him for help. I am struggling so much with the interest-only payments of £1007 a month. I have no repayment plan in place. My interest rate is 7.19%. I had to leave a job with the Police due to ongoing ill health, and am now only working part-time as a self-employed Beauty Therapist. I get Universal Credit with the additional element of limited capability to work. I live alone, and my ex has not contributed to the mortgage since 2010. We have a financial consent order so he cannot get any equity from the date he signed, which the property was negative equity at the time.

My mortgage was originally with GMac, who went into liquidation, then it got taken over by Kensington. After speaking to another mortgage advisor, I was told that I would be able to request a rate change, without having to remortgage (which is not an option). I have approached them to ask but "because I am a GMac customer, I am not their customer, so they are not able to offer me a rate change". I basically am stuck with a rapidly rising interest rate and feel like the inevitable repossession is on the horizon. They asked me to submit an income/expenditure form to see how they could help....their solution is to go into arrears and they can put an agreement in place. I don't want to do this because I won't be able to pay the arrears back. 

Is there any case that I could go to the Ombudsman with? I feel their policy of me "not being their customer" is unjust and possibly unlawful? And im surely not the only one in this situation with them. I don't know where to turn. Any help is gratefully accepted. Thank You

CSI_Yorkshire

I wouldn't be suggesting anything is unlawful, particularly to Kensington or the Ombudsman, unless you actually have some sort of idea what law they have broken.

Similarly, the Ombudsman isn't really there to decide what is fair or unfair, they are there to make sure that companies follow the rules, guidelines and approved processes.  There's not really any sentiment in it.

Are you covered by the 2019 decision about Mortgage Prisoners?  
https://www.kensingtonmortgages.co.uk/existing/new-mortgage-prisoner-questions

Potentially a specialist broker of some sort could advise better?