Mortgage question

[lookingforward]

Re: Mortgage question

I've just got another PM from you which I can respond to on here.

If you think you have a good relationship with your lender and you don't want to rock the boat with a complaint then send the letter without that heading and drop the bit about seriousness.

It's you call

Haha yes I'd replied to your PM before you posted on here confusing

I'll leave the word complaint because we are complaining about the SPO being raised and it needs to given attention. The rest of the wording in the letter will be the same as you've seen as you were happy with it, and thx for checking it over. As for the conversation she'll probably say something along the lines of "I will only communicate in writing for the reasons I've outlined in my letter "

Thx again, appreciated

[PlanB]

Re: Mortgage question

Understood and I'll do exactly as you've said

Do what feels right for you. Don't do as I say. I'm throwing out ideas that's all. See my last post where I have back-tracked after your PM. I do listen to what posters say.

There's no harm in bowling underarm at this stage if you feel it's safe to do so. You can always bowl overarm if they reject your reasonable offer.

[PlanB]

Re: Mortgage question

I've just got another PM from you which I can respond to on here.

If you think you have a good relationship with your lender and you don't want to rock the boat with a complaint then send the letter without that heading and drop the bit about seriousness.

It's your call

[lookingforward]

Re: Mortgage question

Understood and I'll do exactly as you've said, thank you

[PlanB]

Re: Mortgage question

As per the copy I sent you it's headed Complaint, should I add the word formal ?

. . . . they haven't threatened anything thus far other than the comment about the SPO at the end of the prev conversation, I've no problem using this wording but always worry I'm putting the word serious in their heads when it wasn't there before

I've replied to your PM promptly this time

No need to add the word "formal" if you don't want. A complaint is a complaint. Maybe put the word in BOLD or underline it so they can't pretend it wasn't a complaint which needs to have a specific handling procedure in case you end up at the FOS.

If you prefer to remove the word *serious* that's fine too. It's not putting the thought into their heads because that thought is already there. Having arrears of the size of yours is serious. I don't want to alarm you but the way I see it (from what you've previously said in a PM) they have every right to issue new possession proceedings which is why I'm treating this seriously.

Furthermore until that previous SPO is extinguished/cancelled there is still a risk they might activate it. Whether they'll succeed in court or not is another matter, but you don't want to go through that nightmare if you can avoid it.

I got a summons for possession a couple of years ago simply because the lender's database was set to trigger legal proceedings on a specific date if I hadn't sorted an ATP. The Mortgage Express' computer sent an electronic message to their solicitors' computer and that resulted in a summons being issued online from MCOL. There wasn't a single human being involved in the chain of events. Some of the decisions lenders make are automated

[lookingforward]

Re: Mortgage question

Thanks, I've replied to your pm and am sending the letter out Monday but will now get my partner to ring that day too

As per the copy I sent you it's headed Complaint, should I add the word formal ?



"Tell them you have been advised that everything should be in writing from now on due to the seriousness of the situation which you have identified in your formal complaint letter."

As previous comments, they haven't threatened anything thus far other than the comment about the SPO at the end of the prev conversation, I've no problem using this wording but always worry I'm putting the word serious in their heads when it wasn't there before if that makes sense lol

[PlanB]

Re: Mortgage question

I've replied to your PM.

Did you head the letter you sent FORMAL COMPLAINT?

I would still ring them on Monday (14th April) as agreed simply to say that you have written to them with an offer to clear the arrears and enclosed your I & E with that letter. You promised to ring so your call will be expected. You want to avoid them acting as if you broke that promise. Your letter will have probably gone to a different department so the call centre might not know about it. Tell them you have been advised that everything should be in writing from now on due to the seriousness of the situation which you have identified in your formal complaint letter.

Then hang up (after saying Goodbye politely) once you've got the name of the person you spoke to. Don't get drawn into any conversation. All calls are recorded so it's wise not to chat in case you say the wrong thing under pressure.

They have to acknowledge a complaint in writing within five working days, so let's see what they say next

[lookingforward]

Re: Mortgage question

I've got your PM and I'll reply to it tomorrow.

The commitment you (your partner) made was to get back to your lender with an offer by 14th April. You're well within that timeline

Thanks

[PlanB]

Re: Mortgage question

I've got your PM and I'll reply to it tomorrow.

The commitment you (your partner) made was to get back to your lender with an offer by 14th April. You're well within that timeline

[lookingforward]

Re: Mortgage question

Brill thanks everyone

[SaltnVinegar]

Re: Mortgage question

Yes.

Put that £14 surplus down as "contingency". Although I'm not sure you can replace a boiler or a car tyre for as little as £14 these days! Everyone needs to have funds for emergencies. Even NHS subscriptions cost about £8.

I know it's horrid to have to account for every penny (I'm going through the same thing at the moment with something) but just see this as a necessary evil.

Absolutely double/triple/quadruple this advice - you MUST put a sensible contingency and don't let any creditor bully you into lowering it. A few years ago I didn't go to the doctors to deal with an infection for almost 2 weeks because I couldn't afford to pay for the prescription. Its not a place you want to be (though your creditors won't give two hoots). If you end up not using it then you just put that money away for when its needed (because the oven/boiler breaking ALWAYS occurs in the middle of the month and when you need it the most), or you save up a nice slush fund for making F&F offers, or (heaven forbid) treat yourself occasionally. Even a judge won't forbid you from having the odd posh coffee and slice of cake!

Best
SnV

[PlanB]

Re: Mortgage question

is it ok if the I & E shows a £40.00 surplus to only offer £26.00 towards the arrears ?

Yes.

Put that £14 surplus down as "contingency". Although I'm not sure you can replace a boiler or a car tyre for as little as £14 these days! Everyone needs to have funds for emergencies. Even NHS subscriptions cost about £8.

I know it's horrid to have to account for every penny (I'm going through the same thing at the moment with something) but just see this as a necessary evil.

[PlanB]

Re: Mortgage question

Gotcha thanks

I love your username change from "fedupwiththeworry" to "lookingforward" . I'm all for positive thinking

[lookingforward]

Re: Mortgage question

Just a quickie, is it ok if the I & E shows a £40.00 surplus to only offer £26.00 towards the arrears ?

[lookingforward]

Re: Mortgage question

There's no reason why they shouldn't capitalize your arrears for a second time if they want to.

Most lenders like to see a six month ATP (Arrangement To Pay) being honoured before they'll consider capitalization. So if you can get this £26 accepted and if you can stick to it then I think you should ask them to add the arrears to the loan after six payments have successfully gone through.

The only down side of that is your monthly payment will increase because when arrears are added to the loan they will start to attract interest on them since they will be "capital borrowed" and not "arrears owed" where interest is not charged.

If you can tidy up your file by getting shot of the extinct SPO and perform well for six months then you'll stand a good chance of capitalization because it'll be over five years since they last did this.

If they do agree to your £26 per month offer then I'd be inclined to pay them £27 (if you can manage that) so you can honestly say that you have overpaid your agreement. That always looks good.

Gotcha thanks