British Gas Default

[Never-In-Doubt]

Re: British Gas Default

ps When you call your energy supplier, even on a duel fuel tariff they still say your gas will be £x and electric £x meaning a total of £x per month. So they're always treated as separate entities throughout the life cycle however they simplify it by adding them up for you.

Basically

[A-Owen]

Re: British Gas Default

Thanks so much! I will send this tomorrow- last hope!!!!
and yes, dual fuel- moral of the story- don't go with BG!!!
will keep you posted- fingers and toes crossed!

[A-Owen]

Re: British Gas Default

Ok, I've sent it and given 7 days for a response- I don't have time to wait 14 I'm afraid! thanks again for all of your help, I will update as soon as I hear! Everyone keep your fingers crossed!

[SXGuy]

Re: British Gas Default

hopefully 7 days is fine, however 14 days is considered reasonble to respond in a court of law i believe. Either way, its unlikely they will respond within 7 days. this is the Xmas period.

[Never-In-Doubt]

Re: British Gas Default

Ok, I've sent it and given 7 days for a response- I don't have time to wait 14 I'm afraid! thanks again for all of your help, I will update as soon as I hear! Everyone keep your fingers crossed!

ooops I do hope you never altered what I typed up - I did it for a reason, you've now left yourself wide open as 7 days is unacceptable and unrealistic hence I gave 14 days which covers the Xmas period.

if we ever type you a template try and keep it as is - there's a reason for it. If unsure ask before sending it.

14 days is acceptable, please check with the writer before changing such important parts next time.

Good luck. Do not reply when he emails back, instead send it me!! Don't get drawn into anything with anyone, it must be done in writing if you want to win this.

Try trusting us, we're pretty good at what we do

[PlanB]

Re: British Gas Default

I've sent it and given 7 days for a response- I don't have time to wait 14 I'm afraid!

Why don't you have time to wait 14 days? Is this to do with your remortgage application which may have a cut-off point?

[PlanB]

Re: British Gas Default

PlanB - no, we never suggest NoC's as that forces manual intervention for all credit applications plus a CRA can refuse to add it.

Fair point. I was mindful of the OP having an outstanding mortgage application and what seems like an urgent need to get this cleaned up so that application can go through. I was thinking that if a NOC went on their CRA file it could help support any review of the application by the lender. A mortgage applicant should be given the right to 'appeal' if an application is declined based on a negative CRA entry rather than a refusal base on insufficient income etc. Mortgage lenders know that the CRAs frequently make erroneous entries. The OP could then have the NOC removed once the mortgage offer has been made.

Although I totally agree with not doing this in normal circumstances when time is not of the essence and the three stages are the way to handle this.

[Never-In-Doubt]

Re: British Gas Default

I think we will know in the next couple of weeks how likely BG are to remove the unlawful data and resolve it. If they do sort it and then the OP sends in proof that it's been resolved as an error the mortgage should proceed fine.

the time limit is the thing that will cause the OP the most difficulty as we cannot dictate timings, I suggested 14 days as standard (the norm) so until then nothing we can really do regardless. Even though he has changed it to 7 days we simply cannot act that soon, 14 must be given so really until at least 2nd Jan, there won't be mush happening here.....

[A-Owen]

Re: British Gas Default

Thanks for your reply, but I think that 7 days for at least an acknowledgement of the letter is acceptable, I'm not saying I know better than you as i clearly don't, but my current mortgage is up for renewal the beginning of January- Hence why I asked for a response within 7 days, I cannot afford to wait 14 days for a reply from them, I've been waiting since September. That's the only part of the letter that I changed, and I can only thank you all again for your assistance so far.

[Never-In-Doubt]

Re: British Gas Default

You're missing the point. It does not matter what you or I think, the standard is 14 days. The fact you changed it was wrong because after a stonking ass-kicking letter you've killed it by demanding a response in an unrealistic timeframe in essence showing them you're not as clued up as the letter suggests as 7 days is never ever used for the reasons I've outlined. It is totally unrealistic.

learn from this. It doesn't matter what you want or think, the fact is 14 days is the norm.....

[PlanB]

Re: British Gas Default

my current mortgage is up for renewal the beginning of January- Hence why I asked for a response within 7 days, I cannot afford to wait 14 days for a reply from them.

When you say your mortgage is "up for renewal" at the beginning of January do you mean your mortgage will expire next month or do you mean that an introductory fixed (low) interest rate period comes to an end which means your repayments increase to an unaffordable level so you need to remortgage?

The mortgage on your home is your priority if you are likely to fall into arrears if you are unable to remortgage putting you at risk of repossession. Can you tell me a little more about this situation to see if I can add anything useful about your housing issue

[SA Gold]

Re: British Gas Default

Sorry to hi-jack the thread, but when people say re-mortgage does the whole application have to go through again?
We got a 30 year (i knew there was a reason to make sure girlfriends were always younger than me ) fixed rate for 2 years. If we do nothing in 2 years would it just go to whatever the base rate is at that time? Do we have to go through another Mortgage application?

Thanks
SA

[PlanB]

Re: British Gas Default

when people say re-mortgage does the whole application have to go through again?
We got a 30 year fixed rate for 2 years. If we do nothing in 2 years would it just go to whatever the base rate is at that time? Do we have to go through another Mortgage application

No, a mortgage lasts for the full length of the term stated on the contract (subject to no repossession). A "remortgage" means you have terminated one account and taken out another as a substitute on the same property. If the new mortgage is with the same lender it's known as an "internal remortgage". In your case at the end of the two years fixed rate your direct debit will increase but nothing else changes

[SA Gold]

Re: British Gas Default

No, a mortgage lasts for the full length of the term stated on the contract (subject to no repossession). A "remortgage" means you have terminated one account and taken out another as a substitute on the same property. If the new mortgage is with the same lender it's known as an "internal remortgage". In your case at the end of the two years fixed rate your direct debit will increase but nothing else changes

Excellent, thanks for that explanation PlanB!
Merry Christmas!

[A-Owen]

Re: British Gas Default

When you say your mortgage is "up for renewal" at the beginning of January do you mean your mortgage will expire next month or do you mean that an introductory fixed (low) interest rate period comes to an end which means your repayments increase to an unaffordable level so you need to remortgage?

The mortgage on your home is your priority if you are likely to fall into arrears if you are unable to remortgage putting you at risk of repossession. Can you tell me a little more about this situation to see if I can add anything useful about your housing issue

Hi PlanB- We are currently on a fixed rate (Fist time buyer mortgage at 5.4% i think it is) We have had this for 2 years, the current mortgage supplier- Santander, won't now won't even look at another fixed rate for us and want to put us on a tracker for our next mortgage (Just over 4%). We are able to potentially apply for mortgage with interest as low as just over 2% due to the equity in our home now and the increase in property values in our area, so our mortgage bill could be dramatically reduced for our next fixed term. We have struggled for the last 2 years with the knowledge that after the first 2 years we would be able to go onto a lower rate and it would be worth the sacrifices we have made, but it's not sustainable to go onto a tracker, as we cannot take the risk if interest rates go up, and really we should be in a position to take our pick of lenders and rates with the position with are in, but due to British gas we are over a barrell as no other lenders will even consider us at the moment, and the liklihood is we well sell our home and move back into rented and try again after these bloody defaults are 'wiped' in 6 years if BG don't budge!